11 November 2020 | Pricing strategy, Revenue management, Industry technology, Market Insight
It’s no secret that market conditions are constantly evolving. But the changes we’ve seen during the last seven months, with the shift from YoY trend forecasts to the rapid acceleration and adoption of strategies that rely on future/ forward looking data is unprecedented. And this trend is only going to continue, with the weekly team meetings that take place between commercial stakeholders increasingly relying on forward looking data to gauge market outlook.
To help you better understand these new overall market conditions, we’re thrilled to announce our latest Market Insight innovation, Aggregated View. Additionally, we are releasing two additional Market Insight updates: Flight search Domestic breakdown and Hotel Search Patterns.
Shifting market conditions means teams now need to work and collaborate closely together in order to strategise and fully align. With the Aggregated View, you and your team can quickly fill in market outlook gaps and make informed decisions
Here’s a quick rundown of the the key features:
Travel is again being impacted, as countries across the world are tightening entry restrictions due to a second wave of COVID-19. Travellers are currently opting for domestic flights, so it’s important that you’re able to understand exactly where your potential customers are searching from.
With the flight search domestic breakdown, you can understand which region is considering travel to your destination. With this information, your marketing team can make decisions with actionable data to specifically target these ‘lookers’ and turn them into ‘bookers’ with special offers and promotions.
The majority of markets are currently experiencing low demand and high levels of supply - you need to capture potential guests' attention early on in the decision making process if you want to secure your share. To help uncover traveller stay patterns, the Hotel Search Patterns feature (currently in beta) helps you identify demand peaks for hotel searches and spot significant shifts in lead time or LOS - metrics that impact your commercial campaigns and revenue strategies.
We realize that the day to day has drastically changed for you and your team. You’re doing more with less, and every single booking counts. With Market Insight and the new Aggregated View, you and your team can be first to seize opportunities and act on demand - creating a winning formula that drives revenue at your hotel.
Ready to start building a forward looking revenue strategy? Start your free trial today - just click below to get started.
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