Analytics For Travel & Lodging
With easier access to information enabled by the internet, business and leisure travelers have a plethora of choices at their finger-tips. As competition increases, Retention comes to the forefront ahead of acquisition. With the personal nature of the services provided by the Hospitality industry, it is critical to understand what makes type of customers are likely to come back and what can make the ones less likely to come back to change their mind.
Using a combination of proprietary customer data and publicly available geographic information, one can unlock a world of knowledge about customer behavior. Correlating Trade Area characteristics with Supply Side features of a Hotel can also help determine if it is optimal too move location of underperforming Hotels to more desirable locations while controlling for relocation cost and real estate price faactors.
In addition to understanding who your customers are, analytics can also help you understand what marketing tactics work for different segments and how does their effectiveness differ by season. Marketing activities can be made more efficient by ensuring marketing activities are customized to each segment.
