30 April 2019 | BI and data analysis, Revenue management, Rate parity, Industry technology, Distribution
Today we publish our latest industry survey, Forecasts from the field: hotel management’s views on the future of distribution and technology. You can download the survey below but to set the scene, here’s its foreword, written by OTA Insight’s CEO, Sean Fitzpatrick:
Hotels worldwide are looking at another solid year of demand ahead. As a result, global hotel rates are expected to increase 1-3% in 2019 and, despite supply growth, occupancy is predicted to increase again.
Given the length of this positive cycle for hotels, many industry experts are bracing for an eventual downturn, preparing hotels to tighten operational expenses and rein in booking costs.
As Forbes noted in July of last year, profit margins are on the decline with expenses exceeding revenue growth for the second year. Part of this “expense creep,” a common issue during profitable cycles, lies in third-party commissions and fees. When fighting expense creep and increasing profit margins, hotels benefit from revenue management strategies, rate parity technology, and business intelligence that helps hotels tap into profitable revenue streams.
We wanted to hear from hotels about where they stand on these key areas, what keeps them awake at night, and where they think the industry is going. We keep our ear to the ground and listen to the revenue management community about the challenges they face so we can continue to develop best-in-class solutions to serve them.
So in the 2019 OTA Insight Global Survey, we went straight to the source, asking 130 of the industry’s leading hoteliers and hotel technology professionals to chime in on what’s working and what’s not when it comes to managing distribution and staying ahead of the curve.
What we found: revenue managers are in, wholesalers are out, and loyalty programs are a big maybe.
To review all of the results and our analysis, download the full survey.
To find out where hoteliers stand on key issues, what's keeping them awake at night, and where they think the industry is going
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