Since being founded in Saudi Arabia in 1976, Dur Hospitality has grown its portfolio to include over 30 owned and managed hotels and serviced residences across the kingdom. The publicly listed company was the first to bring the concept of 5-star hospitality to the country and has become one of the preferred local development partners to several international hotel groups. Currently, Dur Hospitality is expanding its footprint by opening 3-4-star hotels in emerging destinations around Saudi Arabia.
We recently sat down with Adam Salem, Commercial & Digital Director at Dur Hospitality. During our chat, we found out how he and his company use OTA Insight's suite of integrated business and market intelligence tools for data-driven business planning, forecasting, and pricing decisions at a time when markets are volatile and historical data has lost importance.
"Without Rate Insight, we'd always play catch up and miss essential revenue opportunities in this dynamic and unpredictable market."
Like in other markets, Covid-19 upset our usual trends and booking patterns. This meant our RMS could no longer use all our historical data to make good pricing recommendations or accurately forecast demand.
Today, OTA Insight's tools support us in this area. Market Insight leverages forward-looking demand data (e.g., search pressure and flight search volume) and predictive models to create an accurate picture of our market's future. This reveals precisely when and where demand is picking up well in advance. As a result, we can adjust our pricing early on and capitalize on every positive shift. The events calendar helps with this since it shows every upcoming event, and we can plan for the increased demand on time.
Forecasting has also become more accessible with OTA Insight's BI tools. Market Insight provides the external market overview I need to understand how overall demand is developing. Revenue Insight shows me how our pick-up is looking by comparison. I can also drill down and benchmark booking pace at various times this year to see how well demand converted into reservations for us. This helps me conclude how much of the future demand we'll be able to capture.
This deep understanding of demand in our market allows us to make confident pricing and yielding decisions even if we don't have our total OTB share yet. As a result, we achieved our minimum ADR goals even during the crisis and often surpassed them.
"Market Insight leverages forward-looking demand data and predictive models to create an accurate picture of our market's future."
Rate disparity cases also used to be a significant challenge for us, and we wanted to use Parity Insight to address it. While the tool helped us tackle the problem and cut back on disparity incidents, we were not 100% satisfied with the result. We considered switching to another product for some time to see if we could achieve better outcomes. We mentioned these plans to OTA Insight's team and were amazed at their response.
Our customer support representative immediately offered assistance and also wanted to know what had caused our decisions. We spoke to several team members, and even the CEO got on the phone with me to learn more about improvements we were seeking, particularly in the Parity Insight product. On top of it all, they gave some valuable behind-the-scenes insights into their development process and upcoming feature launches.
This led to a rediscovery of OTA Insight's entire suite of tools and a much deeper connection with their team. It was impressive to see how much they value us as a customer and how determined they are to provide the best solution for us. In the end, of course, we decided to stick with all of OTA Insight's resolutions and look forward to what they have in store for us in the future.
"Being able to see forward-looking demand data, the CompSet's rate strategies, and our performance metrics in one shot gives our entire commercial team a chance to navigate our highly dynamic markets successfully."
If you haven't invested in a reliable business and market intelligence tool yet, you're running late. This is not about simply following the latest tech trend. It's about what your hotel gets out of such a solution. OTA Insight does 80-90% of the heavy lifting by supplying and presenting comprehensive internal, market, and competitor data. All that's left for you to do is use these insights to make the right choices for your hotel. And since you're no longer doing manual research, you have more time to think things through.