Infor Increases Hoteliers’ Forecasting Abilities With Its EzRMS App
Infor, a provider of business cloud software, has announced updates to its Infor EzRMS revenue management application, which was created for the hospitality industry. The app is designed to help hoteliers optimize revenue by automatically calculating demand forecasts and recommending sales strategies based on data, including day-of-week patterns, booking lead-time and the number of guests per room.
With its technology, deep learning algorithms and business process design, Infor says it provides the chance for its clients to enjoy higher profit margins and rapid return on investment. The latest release of the app was designed based on customer feedback and in response to current travel and leisure trends.
One satisfied client who has used Infor EzRMS is Andrew Hodges, the director of revenue management and systems for Asia-Pacific for Accor. “Forecasting is an art, and right now, it has been more challenging to predict how the business will evolve,” he said. “Since Asia has been one of the first few regions to experience a recovery and an uptick in travel, we decided to pilot the new algorithm from the beginning. So far, we’ve seen great results. The system is more realistic and quickly adapts to changes in trends, which is key to helping our properties plan and strategize.”
According to Infor Hospitality General Manager Jason Floyd, the hospitality industry is in the middle of a great change. “Historical data and trends that were once relied upon to predict the future are no longer helpful as we continue to experience daily and drastic fluctuations,” he said. “Even though times have changed, many of our competitors are still providing the same solutions but this isn’t the same industry.
“Our customers need to be able to get more from the data they are collecting — and fast,” he added. “We took it upon ourselves to overhaul our forecasting methodology to match the current needs of our customers right now.”