|BRECKENRIDGE, Colo., Dec. 3, 1998 - Vail Resorts,
Inc., the largest ski resort operator in North America, announced it will
implement a new yield management solution from IDeaS, Inc., at its Great
Divide Lodge at Breckenridge Resort. Vail Resorts chose IDeaS in a move
to realize the best possible revenue from room bookings while managing
the risk associated with the unpredictable nature of room demand.
Vail Resorts is extending its yield management solution to include The Great Divide Lodge. An IDeaL system was first introduced at the Keystone Resort in 1996. The IDeaL system, which features a mathematical model of the resort's booking history and present demand, is integrated with the Keystone Resort's Central Reservation System. The model also integrates the resort's risk taking strategies and business plans.
"The most critical factors that contribute to successful room yielding are: maximizing occupancies; booking guests with longer length of stays; managing the amount of overbooking we are willing to accept; and selling rooms at the best price based on demand," said Bruce Mainzer, senior vice president of sales and marketing for Vail Resorts, Inc. "That's why we chose the IDeaL Solution from IDeaS, which provides a system with an automatic, integrated decision-making ability to consider those factors at the precise moment when reservations are made."
According to Mainzer, the solution provides the most advanced forecasting technology available, and the support the company has received from IDeaS, Inc., has been excellent.
"During the last two years, Keystone Resorts estimates that the use of the solution has contributed to more than $1 million dollars in increased revenue," Mainzer added. "When Vail Resorts acquired the Keystone Resort in January 1997, the company received a proven way to increase revenue, which definitely pleases our executive team and our shareholders. It also allows us to invest in the future and enhance the ways we serve our guests."
The IDeaL Solution is a comprehensive suite of products and services from IDeaS, Inc., which typically adds a minimum of four percent to the property's room revenues. Included with the IDeaL Solution are IDeaL/YIELD system software; IDeaL/START training and data analysis; IDeaL/CARE remote monitoring; and IDeaL/RESULTS benefit measurement, which is the first in the industry to quantify the impact of a yield management system, excluding business and market conditions.
Further investment in the IDeaL Solution will provide yield decisions for more than 1,480 rooms in more than 12 properties throughout the Summit County ski resort areas in Colorado.
"The team at Keystone Resorts has already built the world's largest, centralized yield management operation in the resort industry," said Subhash Gupta, chairman and CEO of IDeaS, Inc. "The company's decision to expand its IDeaL Solution is further evidence of the measurable value our clients realize from our solutions."
About IDeaS, Inc.
IDeaS, Inc., develops and markets sophisticated revenue and yield management solutions exclusively for the hospitality industry. IDeaS has over 130 professionals focused exclusively on delivering a minimum of four percent increase in revenues for hotels and resorts around the world. IDeaS is now the largest supplier of yield management solutions for hotels and resorts. With corporate headquarters in Eagan, Minn., IDeaS also maintains sales and service offices in London, San Francisco, Singapore and Sydney, Australia. For more information, visit http://www.decider.com
About Vail Resorts, Inc.
Vail Resorts is North America's premier owner and operator of ski resorts. For the latest in snow conditions, events, and additional information from Vail, Beaver Creek, Breckenridge and Keystone, call the general information phone at 800-404-3535. For additional information, including a Web cam focused on the Freeway Snowboard Park, visit Vail Resorts' Website at http://www.snow.com
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