In the ever-changing world of hospitality, it’s crucial for hotels and resorts to have access to accurate market intelligence to make informed decisions. To help with this, there are several hotel market intelligence tools available, including OTA Insight, STR, and GuestRadar. Each tool offers unique features and benefits, and choosing the right one depends on the hotel’s specific needs and goals.
OTA Insight is the go-to tool for monitoring OTA performance and having all the intelligence at hand when planning OTA strategies. The platform provides detailed insights into the performance of hotels on OTAs, including occupancy rates, ADR, and revenue, as well as competitor analysis. OTA Insight’s user-friendly interface and customizable dashboards make it easy for hotels to track their performance on OTAs and adjust their pricing and distribution strategies accordingly.
STR, on the other hand, is a fantastic tool for monitoring market performance, ADR, and occupancy forecast based on what participating hotels in the destination declare. The platform provides detailed insights into the performance of the hotel market as a whole, including occupancy rates, ADR, RevPAR, and supply and demand trends. This information is invaluable for hotels when setting pricing strategies and making informed decisions about how to compete in their market.
GuestRadar, meanwhile, is the tool to monitor travel intent and to understand how to reach any traveler segment with marketing efforts. GuestRadar collects and presents data from 20+ sources, including booking engine companies, OTAs, and direct survey research among travel planners. The platform provides insights into customer behavior, preferences, and booking patterns, allowing hotels and resorts to make more informed decisions. The interactive GuestRadar dashboard shows trends and insights by country, hotel budget, and more, making it a fantastic tool to plan hotel marketing strategies.
One of the unique features of GuestRadar is its ability to provide destination-specific insights. The platform provides insights into hotel selection influence, travel purpose, who people travel with, traveler age, hotel budget, LOS, ADR, destination sub-region, and more, all organized by inbound markets. This information allows hotels to tailor their marketing efforts to specific customer segments and increase their bookings and revenue.
In conclusion, each of these hotel market intelligence tools offers unique features and benefits. OTA Insight is ideal for monitoring OTA performance, STR is great for monitoring market performance, and GuestRadar is the go-to tool for monitoring travel intent and understanding how to reach specific traveler segments with marketing efforts.
Ultimately, the right tool for a hotel or resort depends on their specific needs and goals. However, using a combination of these tools can provide a comprehensive view of the market and enable hotels to make data-driven decisions that improve their business performance.