data

The majority of markets are continuing to feel serious effects of continued uncertainty amongst travel bookers due to rapid rises in global COVID cases

Another important deciding factor for choosing hotel accommodation is the ability to cancel or rebook without penalty, which ranked just above price

Travelers hungry for hotels are ready to commit to spontaneity, with 29% claiming they’d drop it all and leave the same day if given the opportunity

Creating forecasts based on future data sources is a paradigm shift in revenue management and, truly, the future of how hotels will price their rooms

So here’s to the real roaring ‘20s. A reimagined landscape with tremendous potential for the future of the hotel industry and revenue management

Traditional revenue segmentation is dead and traditional marketing targeting is dead too. Long live combined segment/target customer profiling!

Unless a guest is logged into your website or booking engine, each time they make a new reservation, a new profile is created leading to duplicate data

The hotel industry is still feeling and reeling from the pandemic sting, though vaccines could be the antidote to spur devitalized demand

If optimism turns into reality, hotels could see the first signs of leisure guests to capture, followed later in the year 2022 by business travelers

To collect and analyze all this data, a BI tool is key. It would be impossible for any revenue team to handle this volume of data manually and in real time