how to use hotel data

We’re in the information age. There’s no doubt about it. Yet, with all this data supposedly flying around us, it’s hard to know just what to do with it.

Even if your PMS is collecting all the right stats, you’re on top of your web traffic and social media interactions, and you know what your comp set is up to, it can be hard to understand how to actually read it.

What does it mean? And more importantly how can you use it to make better decisions?

We think hotel data shouldn’t be so complicated. And we want to give you, the hotelier, practical action items you can start using now.

We began this project with an idea: That if hoteliers just compared a couple different types of analytics, they might learn a lot more than when only looking at one type.

After all, cross examining a data set with another is one of the best and most tried-and-true methods for uncovering new insights into your hotel business and your customers.

We took this “hotel data comparison” idea and visualized it in the form of a subway map where each train line is a category of data that hoteliers encounter every day: PMS or performance, pricing and benchmarking, social media, and website.

Where the different lines intersect is a “station” where you can find real-world examples of comparisons that you can put into practice with your team.

After consulting experts in various fields, and refining and revising our list, we ended up with this chart: The How To Use Hotel Data Chart.

No need to hire a quant team or employ some magical algorhythmic solution. These are practical steps that you and your team can take today to start making your hotel data work for you. Trust us, it’ll be worth it.

Read rest of the article at SnapShot