OTA Insight, the cloud-based data intelligence platform for the hospitality industry, is rapidly developing its market leading business intelligence solution Revenue Insight to deliver several new innovative product features to support hotel reopening and recovery planning.
As the markets start to exit lockdown, hotels’ PMS data will become an even greater source of insights to understand the market and demand shifts at the property level. To make the most of the rebound and business recovery, it’s critical that hoteliers and revenue managers can easily visualise pick-up and pace insights, analyse business mix trends, rapidly adjust forecasts, and most importantly, quickly spot segments that are showing signs of recovery.
“Hoteliers are relying on Revenue Insight more than ever to help navigate unpredictable market conditions” says Sean Fitzpatrick, CEO of OTA Insight. “We’re working closely with hotel and cluster level users to quickly innovate and deliver features and insights based on the ‘new normal’ versus relying on historical trends.”
In addition to monitoring each property’s performance, cluster managers can now manage their hotel portfolio to monitor trends and track data on a granular level. This is increasingly critical as the onset, pace, and intensity of the recovery differs by market, region and customer segment. Revenue Insight multi-property delivers instant access to portfolio performance data to make faster and better decisions suitable for each hotel, as well as comprehending where each property stands in the recovery phase.
Emerging as the first business intelligence solution to remove manual Excel reporting and fully harness the power of detailed PMS data, Revenue Insight empowers multi-department commercial teams to achieve better cross-functional alignment.
Revenue Insight unique property-level features include:
- Custom date period comparison – the same period last year is no longer relevant. The new compare features enables comparison with last week, last month or any custom periods to make better planning assumptions.
- Make quick forecast adjustments – as restrictions are lifted and market conditions change rapidly. Hoteliers will be able to adjust, compare and keep their enterprise team up to speed. Budget & forecast targets can easily be uploaded directly into the dashboard to monitor performance.
- Business breakdown details - track data by segment, agency, channel and company as the onset, pace, and intensity of the recovery will differ by region and by customer segment.
- Rate Insight’s rates integration in Revenue Insight - evaluate how rate positioning impacts hotel business, and take immediate actions to optimise performance.
In addition to powerful portfolio-level features:
- Aggregated KPIs – monitor hotels’ overall performance and momentum – without the need to export or consolidate.
- Dynamic business mix dashboard – insight driven and action-oriented to predict the recovery in terms of timing, form, country, and extent. Monitor which locations start picking up and on which channels to refine pricing and distribution decisions.
“Given the volatility and changing nature of the crisis, every hotel has different needs and is at various stages in the recovery cycle. With Revenue Insight, I’m able to make decisions quickly and take action on a micro and macro level as I drive our properties toward recovery”, says Jeff Young, Director of Rev Mgmt Development at Minor Hotels.
About OTA Insight
OTA Insight empowers hoteliers to make smarter revenue and distribution decisions through its market-leading suite of cloud-based business intelligence solutions including Rate Insight,
Parity Insight and Revenue Insight. With live updates, 24/7 support from our customer success team, and a highly-intuitive and customisable dashboard, the OTA Insight platform integrates with other industry tools including hotel property management systems, leading RMS solutions and data benchmarking providers.
OTA Insight’s team of international experts are based all over the world, including the UK, US, France, Germany, Belgium, Spain, Italy, Brazil, Mexico, Singapore, Australia and India, and supports more than 50,000 properties in 168 countries. Named the UK’s 17th fastest-growing private technology company in the Sunday Times Hiscox Tech Track 100 in 2019, Number 103 in the FT/Statista list of Europe’s 1000 fastest growing companies in 2020, and Best Rate Shopping & Market Intelligence Solution in the 2020 HotelTechAwards, OTA Insight is widely recognised as a leader in hospitality business intelligence.
For more information, visit www.otainsight.com and follow us on Twitter (@otainsight) and LinkedIn (www.linkedin.com/company/ota-insight).