OTA Insight, a cloud-based data intelligence platform for the hospitality industry, is introducing several new product features to its business intelligence tool Revenue Insight to support hotels’ Covid-19 recovery plans.
As lockdowns lift, 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,” Sean Fitzpatrick, CEO of OTA Insight, said in a statement.
“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, said OTA Insight.
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 and 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 – evaluate how rate positioning impacts hotel business, and take immediate actions to optimise performance.
This is in addition to portfolio-level features, including aggregated KPIs, which allow users to monitor hotels’ overall performance and momentum, as well as a dynamic business mix dashboard to predict the recovery, and monitor which locations start picking up and on which channels to refine pricing and distribution decisions.