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How decision intelligence unlocks hotel data for better insights

Cloudbeds

For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.

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Cloudbeds Unveils Industry’s First ‘Smart Hospitality Engine’, Powered by Causal and Multimodal AI

Hotel Speak

By allowing hotels to better understand and react to price elasticity in the market, the model is projected to increase RevPAR by up to 15% and boost occupancy rates by up to 10%, while maintaining efficient workflows with existing hotel staff.

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7 tips to make your overbooking strategy a success in 2024

STAAH

By deploying this strategy a hotel is insuring itself against possible cancellations by having secured guests who can fill cancelled bookings. Data must be used to inform how many no-shows or cancellations to expect so you can overbook by that much. 2) Use multiple data sources.

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8 Pricing Strategies for Hotels During the Holiday Season

STAAH

This not only adds value for guests but also allows hotels to upsell services and capture diverse customer preferences. Use targeted marketing campaigns across digital platforms and social media channels to promote these time-sensitive deals, driving immediate bookings while creating a buzz around your hotel.

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8 Essential Reasons to Optimize Your Hotel’s Booking Engine

STAAH

Furthermore, a booking engine can enable upselling and cross-selling opportunities by showcasing additional services, such as spa treatments or restaurant reservations, during the booking process. This data can be analyzed to gain market insights into guest behaviour, identify trends, and create targeted marketing campaigns.

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Hotel Pricing Strategy: 9 Key Factors To Drive More Bookings

STAAH

4) Flexible Cancellation Policy Guests are looking for flexibility , now more than ever. People are even ready to pay a better price in order to have the flexibility to cancel. You’ve captured the client; upselling helps grow the revenue from them. It is one of the most important strategies for hotels.

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Win in 2024 with 16 Unique Travel Marketing Strategies

MediaBoom

With this in mind, understanding the full impact of travel marketing has never been more essential. Travel marketing targets potential tourists by promoting unique destinations, accommodations, and services through digital channels. Secure your exclusive, free consultation with our luxury marketing experts today.