PARSIPPANY, N.J.—Wyndham Hotels & Resorts unveiled RevIQ, a next-generation, cloud-based, mobile-first revenue management system designed to help franchisees optimize their revenue strategies and grow market share.
Created in collaboration with IDeaS, RevIQ is built for the needs of Wyndham franchisees and is designed to deliver performance while keeping control, flexibility, and simplicity at the forefront. Leveraging real-time data and analytics to make automatic pricing recommendations and adjustments, the platform integrates with Wyndham’s property management systems and allows franchisees to optimize their strategies based on their own market insights.
“No one knows their business, competition, or market better than our franchisees,” said Vikram Pradhan, group vice president, Global Revenue Management, Wyndham Hotels & Resorts. “For those reasons, it was critical we create a platform that, while powerful and robust in its data and analytics, also enables franchisees to incorporate their own knowledge and insights. RevIQ does exactly that, making it a simple, intuitive, easy-to-use tool that is as beneficial to experienced hoteliers as it is to those running their very first hotel.”
“What I love about RevIQ is it allows me to put my hotel’s revenue management strategy on autopilot, freeing my time to focus on other parts of the business while helping ensure I’m always getting the best possible return on every available room,” said Prativ Patel, owner of the Super 8 by Wyndham in San Bruno, California, and a member of the Super 8 by Wyndham Franchise Advisory Council. “It’s a game changer for Wyndham franchisees.”
Wyndham was the first major hotel company to introduce an automated revenue management system at scale in the economy and midscale segments, first deploying the system across its portfolio in 2015. RevIQ, the company’s latest offering, builds on that position by delivering smart revenue management capabilities anytime, anywhere, and on any device, with benefits falling into three categories:
- Control: Hotel owners can create a custom pricing strategy based on market conditions and competition with full control over who they deem in their competitive set and the ability to change as needed. Competitors are automatically shopped five times daily, with RevIQ instantly adjusting its forecasts and recommendations.
- Flexibility: Integration, combined with a cloud-based, mobile-first design and single sign-on allows hotel owners the ability to transition between their property management and revenue management systems anytime, anywhere, and across any device.
- Simplicity: Designed with busy hotel owners and general managers in mind, RevIQ allows hotel owners to update pricing, manage inventory, switch between multiple hotels and more. Rate changes are immediate across all channels while an intuitive interface allows for faster training of new team members.
RevIQ is available now to all Wyndham franchisees running Sabre SynXis Property Hub with plans to roll out to hotels on Oracle’s OPERA Cloud Property Management later this year, with portfolio-wide adoption by 2024. Part of Wyndham’s continued digital transformation, RevIQ is the latest on a list of strategic technology investments made by Wyndham as it looks to enhance the guest experience while delivering resources and operational efficiencies for its franchisees.