WICHITA,
Kan., Dec. 6, 2001 — Candlewood Hotel
Co. has chosen Trend FX
Solutions Inc. to provide a customized, automated revenue management
solution for all of its company-managed Candlewood Suites and Cambridge
Suites nationwide. The system will enable Candlewood Hotel Co. to
better
develop and implement revenue strategies and enhancements in each
local
market. The solution will be installed by the end of the year.
Trend FX is
the first revenue management solutions company created by
experts in hotel operations. The company’s founders identified
a need for
better operations tools, and created easy-to-use, web-based solutions
for
the industry. Small and mid-sized lodging and call center companies
now have
affordable — and powerful — new ways to boost sales and
improve performance.
“Trend
FX understands strategy based on length of stay and the way we do
business,” says Candlewood Hotel Co. Vice President of Sales
and Marketing
David Redfern. “They also have the expertise to design a system
that exactly
fits our needs — and they’ll train our team to make the
most of it.”
“We are
pleased to partner with a company like Candlewood Hotel Co.,”
says
Trend FX Solutions Chairman and Co-Founder Jon A. Wohlfert. “Candlewood
Hotel Co. shares our business philosophy of offering a great product
for a
fair price.”
Trend FX’s
Revenue Management Information System (RMIS) compares and
consolidates client hotel information with competitive information,
and
more. Key features and services include:
| • |
Analysis
of historical occupancy and rate trends
|
| • |
Integration
of Smith Travel Research’s STR data
|
| • |
Identification
of current rates offered by direct competitors (using the
RateAgent module)
|
| • |
Forecasting
and rate change recommendations
|
| • |
Customization
based on each client’s needs
|
| • |
Training,
installation and support options |
Clients access
the solution in “real time” through a secure Internet
connection. The web-based approach, rather than traditional PC-based
software, means the solution can be quickly deployed companywide,
and
updated or enhanced seamlessly.
Trend FX will
provide Candlewood Hotel Co. with the RMIS solution, including
the RateAgent module, training and consulting services.
“RMIS will
pair up-to-the-minute competitive rate information with
Candlewood Hotel Co.’s own booking trends,” says Trend
FX President and
Co-Founder John P. Romeo, “and that’s a powerful revenue
management
combination.”
Candlewood Hotel
Co. (Nasdaq: CNDL) owns, operates and licenses Candlewood
Suites, and operates and licenses Cambridge Suites. Both concepts
serve
travelers on short- or long-term stays. There are currently 101
Candlewood
Suites open coast-to-coast, with more under construction.
Trend FX’s
product line includes RateAgent, Revenue Management Information
System, and Call Center Performance System, as well as consulting
services.
The company has offices in Wichita, Kan., Memphis, Tenn., and Las
Vegas.
Technology services
for Trend FX and Candlewood Hotel Co. will be provided
by Statability LLC.
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