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IDeaS Releases First Comprehensive Hospitality Demand Study for 2008 Singapore Formula One Grand Prix

  • 09.26.07
IDeaS, the leading provider of hospitality revenue optimization solutions and services, has developed the first comprehensive hospitality demand report for the inaugural Singapore Formula One Grand Prix, to be held on September 28, 2008.

Analyzing data from six Grand Prix events across three different cities in Asia Pacific, the "Formula One Grand Prix Singapore - Winning Strategies for Revenue Optimization" report provides a comprehensive view of the impact of a Grand Prix on local hotel demand, providing valuable insight and guidance on what to expect for Singapore.

While the report confirms some of the assumptions and high expectations of the hotel industry for the Grand Prix in terms of Average Rate and Occupancy, it also highlights possible hotel demand challenges and provides simple recommendations for revenue optimization strategies.

"Many hotels in Singapore have recently contacted us for guidance on pricing and revenue optimization", comments Klaus Kohlmayr, Director of Services, IDeaS Singapore. "While there is a great deal of excitement and high expectations in the hotel community, there is also a high degree of uncertainty around what strategies will be most effective. We have decided to undertake this research to provide better clarity to the industry, allowing hotels to have the confidence that their revenue optimization strategies will capture the maximum potential."

Alka Kapoor, VP Distribution and Revenue Management, Pan Pacific Hotels and Resorts comments: "The Formula One Grand Prix Singapore will be one of the most important events for us next year. This report is extremely relevant and timely, providing us with invaluable insights and guidance on what to look out for to achieve our high expectations. The Singapore Hotel Industry has been in need for something like this and IDeaS has shown clear thought leadership by undertaking this research."

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