Anna Ransom
By: Katie Moro, VP, Data Partnerships, Hospitality, Amadeus
Originally published on Amadeus insights
I love data. It is tangible. It is inherently factual. And it can be combined in endless ways to provide insight into people’s behaviors and preferences to help solve problems that once seemed unsolvable.
Each year at HITEC and HSMAI ROC Americas, two bellwether US events in hospitality technology, my eyes and ears are peeled for how data and the technology solutions that help harness it can move the hospitality industry forward.
This year, I was impressed by the exchange of ideas and the overall celebration of the industry’s continued progress. Attendees from all areas shared like-minded sentiment on how technological innovation will shape the future of hospitality especially as we see tech adoption increase across the industry. In addition, we’re also witnessing extreme value in forward-looking data and how it can support hoteliers in executing successful management strategies.
Chatting with Skift at HITEC Orlando
At Amadeus, we understand the industry is constantly changing. Relying on historical data is no longer a viable reference point for forecasting what the future may hold. Therefore, we need to view data forecasting tools as a must-have instead of a nice-to-have.
For Amadeus, we further established our position and expertise in business intelligence. It was a big week as we were able to share that Aimbridge Hospitality, a leading global hospitality company managing a portfolio of more than 1,500 hotels across 50 US states and 23 countries, expanded its partnership with us. It is exclusively endorsing Amadeus’ full business intelligence suite including Demand360®, Agency360®, and RevenueStrategy360® for use across its organization.
Aimbridge is a great example of a company that is supporting the renewal of hospitality with cutting-edge tools that help them make business decisions based on actual bookings for future dates. I can’t think of a better way to make confident choices about renewal than using actuals versus predictions based on past activity.
Furthermore, Demand360® has continued to stand out for our customers as the only data tool that provides a comprehensive view of forward-looking occupancy data and more to help hoteliers manage and build demand and increase bookings. And now RevenueStrategy360® with unique forecasting capabilities introduced at HITEC, provides forward-looking data and on-the-books rate data to help hoteliers make the best pricing and revenue management decisions. As we continue to experience fluctuating travel demand, hoteliers will need to rely on a combination of historical trends, on-the-books reservations data and rate data for hoteliers to navigate their future strategies and increase market share.
Leading the way and looking ahead
2022 is already shaping up to be a record-breaking year. In our 2022 summer travel trends, we revealed that this summer is expected to be the busiest since the pandemic began with global hotel occupancy already surpassing 2019 levels for April and May. Hoteliers will need to anticipate and be prepared for the demand and access real-time market insights and data.
There is a lot of change happening in the world right now. However, knowing that people are venturing out again and that our hotelier customers are experiencing a surge in guests is gratifying after a long period of uncertainty.
Don’t get me wrong, I know that there are still many challenges ahead for our industry, among them labor shortages and even extreme weather. But I am confident, especially after all the discussions I had this week, that the future is looking bright for hospitality.
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