Customer Spotlight:

Metropol Hotel

“With Market Insight we noticed a new destination was actively searching for Moscow… we launched a digital campaign in Google to target consumers in that destination. We reduced cost per action by 30% and increased the number of bookings by 42.5%.”

Julia Vereskun | Director of Revenue Management

Customer Spotlight:

Pandox RMC

“By providing us with top-quality, current data at the click of a button, Rate Insight has helped us save countless hours of manual rate shopping.”

Tobias Exner | Director of Revenue Management

Get started with your free trial

Trusted by over 55,000 hotels in 185 countries

About Metropol Hotel

Metropol-Hotel-logo

The luxury, 5-star, historic Metropol Hotel is located in the heart of Moscow - opposite the Bolshoi Theatre and just a short walk from Red Square. Opened in 1905, the Metropol Hotel is situated on Theatre Square and remains the city’s most renowned hotel. Comparable to the other Belle-Epoque grand hotels of the era, the Metropol set the standard for luxury and service in Moscow. A trend which it has continued to this day with lavish guest rooms, world class amenities and one of the city’s best restaurants.

In a chat with Julia Vereskun, Director of Revenue Management at the Metropol Hotel we learned how after being a user of Rate Insight and Revenue Insight, Julia brought Market Insight on board during the pandemic to identify future patterns of demand and capture more revenue, when historic methods of forecasting demand were no longer working.

Metropol-Hotel-Dining-Hall

Metropol-Hotel-Dining-Hall

"We started to expand our view on the competition and look out of our fixed compset, with the dynamic smart compset function. It gave us a real opportunity to capture more revenue and attract new audience segments."

Predicting future demand when past methods no longer work

Metropol Hotel has been a customer of OTA insight since 2015 and we were already benefiting from OTA Insight’s rate shopper – Rate Insight, and later their business intelligence tool – Revenue Insight. We had real time statistics and competitor pricing information at our disposal with a single click on each platform, during our decision-making processes. However, what we lacked was an online tool that helped to see and understand future demand. The ability to look at future patterns of demand and market behaviour enables you to better anticipate surges in demand to capture more revenue. 

When we were presented with OTA Insight’s new tool, Market Insight, it was immediately evident that it was the market intelligence tool we had been looking for. And I have to say, it came at the right moment – a moment when the whole hospitality world had begun to change drastically. Previous algorithms which relied on historical data to predict future demand and make pricing decisions no longer worked.

Adjusting strategies with speed and accuracy to capitalise on demand

Before Market Insight we understood demand based on booking patterns, pace, historic data, pick-up development, and competitor pricing. This mainly reflects on-the-books data and did not reflect unconstrained demand. With former business intelligence tools, you could understand a market’s demand only by seeing what your compset has booked to a certain percentage, and you then base your pricing and business mix on that trend. But it gives you nothing when trying to understand what the total demand is for your destination at that specific moment in time. 

We all know that Revenue Management is underpinned by selling the right product at the right price, to the right customer, via the right channel, at the right time. With Market Insight the latter, right time, becomes more transparent, more defined, and far more logical. We don’t have to guess anymore – this is data driven knowledge. And with this knowledge in place, we can earn more.

Having Market Insight by our side we could simply adjust our strategy when we saw a higher volume of demand and how it was shifting, especially in need periods. We started to expand our view on the competition and look out of our fixed compset, with the dynamic smart compset function. It gave us a real opportunity to capture more revenue and attract new audience segments. Geo data on demand also helped us to build more productive marketing campaigns that reduced our costs.

Hotel-Metropol-Suite

"Having a bundle package allows us to integrate all OTA Insight tools and see further benefit – you can deliver increased profit and ROI for your business when using all of these solutions together."

Hotel-Metropol-Suite

Generating clear ROI with more impactful marketing

My favourite feature is the Geo Patterns, with the ability to see flight and hotel searches. COVID-19 completely changed established demand patterns and previous analytics stopped working, so we feel that it is a critical feature in the era we’re now living in. With geo data we are also seeing the benefit from the implementation of more successful marketing campaigns that help us capture more revenue while saving on costs. 

For example, with Market Insight we noticed a new destination was actively searching for Moscow from May onwards, right away we launched a digital campaign in Google to target consumers in that destination. The result was impressive. We reduced cost per action by 30% and increased the number of bookings by 42.5%. That was our major success story when using Market Insight to market our property more effectively. Market insight gives you the ability to spend your marketing budget more efficiently to positively impact your gross operating profit and build solid ROI.

Integration of all OTA Insight tools for maximum benefit and increased ROI

Each OTA insight product is great, and the benefits are plain to see. Rate insight is a live rate shopper with continuous enhancements which makes it more innovative than other tools on the market. These are real time updates which is a great benefit in our dynamic market. You are provided with segmentation by LOS, rate plan, room type and channel. This all comes at a single click, saving a lot of time and energy. It keeps you focused on strategic decision making rather than collecting data.

Revenue Insight is an analytical business intelligence tool that gives you hundreds of different data points with a single click. You can zoom in on any specific period, sub-segment any data you need to build pricing or selling strategies. No PMS can give you these kinds of analytics in such a short space of time. The amount of time you save you can then invest in maximising your hotel revenue and searching for new revenue opportunities. Also, any data in the tool can be exported to Excel, to present in revenue meetings or to prepare for forecasting and budgeting. 

Market insight provides a complete view of market demand and helps you increase your revenue. It enables you to understand shifting demand patterns, particularly useful in today’s volatile market. You can navigate the sector's current challenges and better forecast revenue and marketing costs. As mentioned above, the benefits from using geolocation assists you in reducing cost per action and increasing your booking volume, which leads to increased ROI. 

Having a bundle package allows us to integrate all OTA Insight tools and see further benefit – you can deliver increased profit and ROI for your business when using all of these solutions together.

Metropol-Hotel-Hallway

Metropol-Hotel-Hallway

"Market Insight gave us the capacity to capture opportunities when we saw the earliest signs of demand recovering; increasing our occupancy ahead of our competitors and earning more when demand was on top, driving ADR."

Aiding recovery by making demand visible and actionable

By using Market Insight, we were looking to achieve a reduction in CPA with our marketing campaigns and more efficiently spend our marketing budget to drive more direct bookings. By having a better glimpse of future demand for our property we also wanted to utilise the tool to forecast more accurately, at a time when historical data was no longer as relevant. 

Market insight helped us through the COVID-19 crisis by being able to see when and where demand was picking up. From this we were able to make strategic pricing decisions and widen our compset with the smart compset function, to try and capture new revenue opportunities.

Forecasting with Market Insight also became more accurate, and the geolocation function facilitated the creation of more successful digital advertising campaigns to increase our occupancy levels. As travel started to rebound, Market Insight gave us the ability to seize opportunities when we saw the earliest signs of demand recovering; increasing our occupancy ahead of our competitors and earning more when demand was on top, driving ADR.

A word to your peers

To get ahead of your competitors in recovery you should give Market Insight a try. The knowledge you obtain from the tool is huge. Investing in this market intelligence solution will assist you in seeking out new revenue opportunities when you can no longer rely on historical data. Understanding future market trends is the key to success.

Want to see how Market Insight can help you make better pricing and marketing decisions?

Request free trial

Found this interesting?

Share on social