Analyzing data can be time consuming, but the insights can help you unlock untapped revenue potential. Read more on the blog.
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#blog of the week💡 Learn of the transformative role of #data in #optimizing #profitability, enhancing #distribution strategies, and driving competitive advantages! Thank you Francesc Gonzalez, CEO & Co-founder of The Net Revenue for sharing your valuable insight with us. Click to read more 👉 https://lnkd.in/ddBdgt56
Using Data For Optimization In The Hospitality Industry
hyperguest.com
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Key revenue management trends for hotel success Tips from our Revenue Managers 🚀 Revamp your hotel’s revenue strategy for what´s left of 2024 with AI-driven forecasting, sustainable profitability, hyper-personalization, and market data integration. Dive into the full article here 📈 https://bit.ly/4c29PFK
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Hoteliers, are you ready to unlock the power of data-driven decision making? Firas Moolla has you covered. Check out his must-read article for 5 game-changing tips that will make your transition from spreadsheets to analytics seamless https://lnkd.in/gX9er2jm
How to Switch from Spreadsheets to Analytics: 5 Practical Tips for Hoteliers
hoteliq.io
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Are you collecting the right feedback for your property? Post stay surveys often rely on the basics: “How was your check-in experience?” “Did you find the rooms comfortable?” While important, these questions dont tap into intentions, feelings, and expectations. They dont provide insights into the guest’s full experience. Here are some ways to leverage post-stay surveys to mine for valuable insights: 1. Go deeper →Ask deeper questions that tap into the guest’s emotions and expectations EX: What prompted you to book with us? Did we deliver? 2. Find and leverage valuable features → Identify frequently mentioned offerings from your guest feedback. → Leverage that feature in future marketing efforts. EX: If guests loved your sustainability efforts, showcase them on your website. 3. Analyze data carefully →Use data analysis tools to combine qualitative and quantitative data - Learn more at https://wallop.ca/
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Historical data: One of your most valuable tools Why? In the world of #hotelrevenuemanagement, historical data is one of your most valuable tools. Patterns from the past often reveal themselves in future trends, providing critical insights for your future strategy. By studying historical booking patterns and guest behaviors, you can identify recurring trends that affect your revenue and demand. Of course, historical data isn’t just about looking back; it’s about planning forward. Use it to identify high-demand periods or low occupancy trends. This will help you create targeted marketing campaigns, optimize your pricing model, and enhance overall guest satisfaction. Moreover, historical data can help you understand the impact of previous strategies and campaigns. What worked? What didn’t? That way you can also adjust your approach and get better results in the future.
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Revenue Managers - What's Holding Your Hotel Back? We want to hear from you! Drop a comment 👇 sharing your biggest data and analytics challenge. AREVINC is here to help unify your performance metrics and unlock new revenue opportunities. #revenuemanagement #hoteldata #AREVINC
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I help business managers & owners, to transform their company into an Automated Revenue Machine || Founder, CEO @ DIGITA, Consultant, Trainer ||
Most people are surprised with this... They expect a single solution set. Kind of, one size fits all... We have 6-7 different methods for budget and cost control. Tested and implemented successfully for different industries and use cases. They are quite different from each other. But what they have in common is their need for data availability to work. Since whatever we build, it should be sustainable. And everything fails when there is no data. 😊 So our approach is to check the data availability and it's consistency first. It's like building a restaurant menu based on local ingredients. If you rely on imported or rare products, you will disappoint your customers frequently. Most consultants fail their customers for the same reason. They suggest a system based on unsustainable data flow. Why? Probably because they keep using the same game plan for all their clients 😭 Instead do this : - determine your data sources - classify them as mandatory or optional - find ways to transform optionals to mandatories - detect ways to remove human element Then you can only find the best methodology. Otherwise, it will fail at some point; and become a dead investment. I'll prepare a comprehensive guide on this in the near future. Make sure you click follow ➕ If you don't wanna wait : ⛑️ Book a free brainstorm with me
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How can you improve your hotel’s revenue forecasting? Lighthouse’s new Enhanced Demand Metric, part of our Rate Insight solution, is designed to help you do just that! It outperforms previous versions by better aligning with final On-the-Books (OTB) data, offering longer lead times, and detecting last-minute shifts in demand. In this whitepaper, we break down the updates to this feature, explain the science behind the metric, and show real-life examples of how it can transform your revenue strategy. Read it here 👉 https://mylh.co/47Ci9va
How Rate Insight’s new Enhanced Demand Metric improves hotel revenue forecasting
mylighthouse.com
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Are you someone who thrives on data or feels overwhelmed by it all? Data enthusiasts often dive deep into collecting raw, sometimes inaccurate data, but struggle to see the bigger picture amidst all the segmentation. On the other hand, those who feel "data dizzy" may make decisions based on emotions rather than a solid understanding of the numbers. But fear not! In our freebie, "The Basics of Hotel Financials," we've got you covered. On page 14, we guide you through creating industry-specific market segments to spot trends without getting lost in irrelevant details. We simplify terms and concepts, empowering you to confidently converse with your accountant and finally embrace the numbers. And the best part? It won't cost you a penny. No risk, all reward. Ready to master the art of understanding and utilizing data in your hotel financials? Take the first step towards financial clarity and grab our free guide! Link in the comments below. 📊💼 #HotelData #FinancialEmpowerment #HospitalityInsights
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Unlocking the full potential of your travel data starts with mastering the fundamentals. #DataAnalytics #TravelData #BusinessIntelligence #DataDriven #BusinessTravel
Fine Figures: How to get the most value out of your travel data
cwt.smh.re
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