To analyze revenue and costs effectively through the guest journey, you need Business Intelligence (BI) tools that empower hotel commercial teams and management by providing real-time data analytics, actionable insights, and predictive modeling.
NB: This is an article from Demand Calendar
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These tools enable teams to make data-driven decisions at every stage of the guest journey, ensuring that strategies align with market demands and guest expectations. From optimizing marketing campaigns to adjusting pricing strategies, BI transforms raw data into valuable insights that drive profitability.
In this first installment of two articles, we will explore how leveraging Business Intelligence during the pre-stay phases of the guest journey can significantly maximize revenue and minimize costs. We will look at the Attraction (Pre-Booking), Booking, and Upsell Marketing (Pre-Arrival) stages, highlighting the specific information needed from BI tools and how hotels can apply these insights effectively. By focusing on these initial stages, hotels can set a strong foundation for success, ensuring guests are attracted to their offerings and encouraged to engage in profitable behaviors before arriving.
Join us to discover the strategies and benefits of integrating Business Intelligence into your hotel’s pre-stay operations to boost profitability and improve the guest experience.
Overview of the Guest Journey
In this first article, we focus on the pre-stay phases of the guest journey:
- Attraction (Pre-Booking Phase)
- Booking
- Upsell Marketing (Pre-Arrival Phase)
These stages are crucial as they lay the groundwork for the guest experience and the hotel’s revenue generation. Effective management during these phases can lead to:
- Increased Bookings: Attracting potential guests through targeted marketing efforts.
- Optimized Revenue: Securing reservations via the most profitable channels.
- Enhanced Profitability: Upselling additional services before arrival to boost guest spend.
By leveraging Business Intelligence (BI) tools in these stages, hotels can make data-driven decisions to maximize revenue opportunities and minimize costs. BI provides insights into guest behaviors, market trends, and operational efficiencies, enabling hotels to stay competitive and meet their profitability goals.
In the following sections, we’ll examine these pre-stay stages and explore how BI tools can optimize performance and enhance profitability.
1. Attraction (Pre-Booking Phase)
In the Attraction phase, potential guests become aware of your hotel and develop an interest in staying with you. This stage is critical because it sets the foundation for all subsequent interactions. Leveraging Business Intelligence (BI) tools during this phase can significantly enhance your ability to attract the right guests efficiently and cost-effectively.
Information Needed from BI Tools
- Market Segmentation and Demand Analysis
Understanding who your most profitable guests are is essential for targeted marketing. BI tools can provide insights into:
- Geographics: The geographical locations where your guests originate.
- Psychographics: Reason for travel, interests, and behaviors that influence their travel decisions.
- Booking Patterns: Preferred booking times, stay durations, and seasonal preferences.
Example: BI analysis may reveal that many of your high-spending guests are business travelers from a specific region who prefer weekday stays.
