Virgin Voyages is partnering with IDeaS Revenue Solutions to introduce an advanced revenue management system (RMS) designed for the cruise industry, according to a press release.

This collaboration aims to address the longstanding challenges of forecasting passenger demand, enabling more accurate pricing and revenue strategies, the company said. The two companies will collaborate on the adoption of science-driven automation in cruise revenue management.

Jessica Fleisher, vice president of revenue at Virgin Voyages, said: “We came to IDeaS because we saw the power of science-driven automation and the results delivered to the hotel industry. Today, nothing in our market can compare to the power of IDeaS revenue management expertise. We couldn’t be more pleased with the project’s development thus far and are impressed with the entire organization’s commitment. As a visionary in the cruise industry, we see the value of sophisticated revenue management, so it was only fitting we should partner with the pioneer of RMS technology.”

According to the companies, key benefits of the partnership include advanced forecast modeling to adjust booking strategies, automated cabin pricing and demand forecasting for optimized revenue and a ready-made solution offering faster implementation and higher ROI compared to custom-built systems.

Sanjay Nagalia, co-founder and chief scientist, IDeaS, said: “IDeaS is excited to work with Virgin Voyages as we make this proof of concept a reality. This collaboration not only marks our entry into the cruise industry but also demonstrates our commitment to expanding our expertise into new verticals. By helping them gain key insights into dynamic forecasting and pricing, we believe we will help usher in a new era for the entire cruise industry. We couldn’t be prouder to work with this exciting and forward-thinking team.”