Real-time data is an invaluable tool that is often underutilized in the hospitality industry particularly in the case with small and mid-sized hotels. Hoteliers need to know the benefits to begin implementing the knowledge gained from real-time data.
So, what exactly does real-time data mean for hoteliers?
Real-time data allows hoteliers such as you to view live information. It gives details of the visitors such as if the visitor to your website or property is via an Online Travel Agency (OTA), or if this is a new or a repeat visitor, the device used to access your website, other details such as age, gender, dates of travel, location and so on.
Such crucial real-time information can be used to understand who your ideal customers are and implement right marketing strategies to target them like devising personalized messages, targeted advertisements or offering special tariffs.
Real-time data is not only restricted to data collected from your hotel’s website. This data can also be collated from the distribution channels used by the hotel. A robust property management system (PMS) like Hotelogix integrated with an effective channel manager can be a powerhouse of real-time data. Information collected here can help your marketing team implement multi-channel campaigns like remarketing for search ads, retargeting and even run direct marketing campaigns. These can create a brand recall value for your hotel, encouraging guests to book with you.
Real-time data and its impact on hotel inventory management
Real-time data is a boon for inventory management. Hotelogix’s distribution system enables hotels to utilize real-time data to its full potential. Bookings coming from different sources get updated in frontdesk and updated inventory gets automatically pushed across all your distribution channels. This ensures you to avoid the number of double or overbooking in your hotel and saves significant time, effort and money of yours as you don’t need the manpower to constantly juggle inventory across various distribution channels.
Real-time data and its role in hotel pricing strategy
Hoteliers nowadays prefer to opt for dynamic pricing for their rooms depending on demand and supply. Real-time data can guide you in deciding what tariffs are most profitable for your hotel. You can analyze past booking trends and forecast the future demand based on information collected in real-time and decide the best pricing strategy to optimize your hotel’s profitability.
As a hotelier, you must ensure that your hotel is utilizing real-time data to its full potential. And this is only possible if you are using a technologically advanced PMS like Hotelogix with an integrated channel manager. A smart combination of PMS and channel manager will automate all your hotel operations and allows your hotel staff to focus more on using the data to create effective marketing campaigns and optimize the hotel’s profitability. So choose the PMS that has in-built capabilities of securing real-time data that will boost your profitability and enhance your guest experience.