Big Data Can Help Hotels. Here’s How!

Running a hotel is expensive. You can’t afford to make mistakes. What’s the easiest way to ensure that you are making the right decisions for your hotel? Big data. By analyzing what works and what doesn’t, you can ensure that you keep costs down, profits up and guests happy.

Tracking Guest Spend

Analyze data to determine which guests just stick with the bare bones hotel visit and which enjoy the full experience – fine dining, room service, spa treatments. Create twin marketing/promotional campaigns that will reward those who spend a lot, encourage those who don’t to spend more and invite both to return to your hotel for future trips.

Dynamic Room Pricing

Demand varies with seasons, conventions and other events. How can data keep your beds filled and maximize your profitability? Look for patterns and adjust prices accordingly. If you have a major local event that attracts a lot of out-of-out of town visitors, you can afford to increase room prices and still reach capacity. During slower periods, discounts can help you avoid the revenue loss of empty rooms. Yield management is not a new practice for hotels, but accurate data removes the guesswork and can often reveal surprising patterns.

Target Marketing Efforts

Take a look at demand spikes and valleys. What causes them? Special events? Flight cancellations? Weather? Target potential customers who are affected by these factors to gain a competitive edge. Does your data indicate that a lot of reservations are made via mobile? Launch a mobile marketing campaign to grab the attention of smartphone users

Manage Headcount

By analyzing data to determine demand, you can ensure you have the correct number of staff members available. Big data can prevent your hotel from being short-staffed in a crunch or having employees standing idle when it’s slow. Consider partnering with a staffing agency that can provide temporary workers on demand and keep your labor costs down.

The hotel recruitment experts at Horizon Hospitality can help you find and attract top hospitality talent to provide your guests with the memorable experiences that will bring them back again and again. Start your hotel executive search today.

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