Tag: market intelligence

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Hotel Business Intelligence – The starting point

What is Hotel Business Intelligence (BI)?

Business Intelligence refers to relevant data – past, present and future, from different sources or hotel systems, that helps hotels to analyze and take meaningful business decision.

In todays’ world, business intelligence plays an important role for hoteliers to improve their revenue in a smart way. It helps hoteliers to draw insights and make better decisions. In-depth BI requires proper tools and investment to help drive a hotel’s revenue. BI plays an even bigger role for hotel chains and groups – where the headquarter is managing multiple properties and need to understand occupancy trends, rates and predictions to be able to define forecasts and budgets accordingly. The different system that a hotel uses to draw upon its BI data include –

  • PMS
  • CRS
  • RMS
  • POS
  • Sales and Distribution
  • Market Intelligence
  • Accounting, Budget and Forecasting
  • Market Reports
  • Competitor rate reports
  • Occupancy trends

The main benefits from leveraging business intelligence are:

  • Effective data management and analysis for clarity in decision making
  • Clear directions on daily targets for occupancy and revenue
  • Clarity on guest profile, booking journey, preferences and customer loyalty thereby giving scope to hotels for enhancing guest experience
  • Plan campaigns and promotions for marketing based on guest data
  • BI also helps identify cases of fraud, poor performance in a timely manner
  • Multiple Reports available at the click of a button as required

Advanced BI tools are platform-based giving hotels a consolidated view of their business. It allows for multiple systems to be integrated so that they talk to each other to provide relevant data in various formats for easier consumption.

Invest in a smart BI solution to take your hotel business to the next level. To know more about which solutions to opt for, contact us today on marketing@erevmax.com

 

 

 

 

 

 

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eRevMax Customer Satisfaction Survey: 9 out of 10 customers trust RateTiger & Connect solutions for accurate & up to date information

eRevMax, the leading distribution, channel connectivity, market intelligence and revenue management solution provider for travel industry, has announced the results for its annual customer satisfaction survey. The results show that 90% of the customers who took part in the survey think eRevMax solutions are reliable and provide accurate & up to date information.

“The survey is important to gain an objective perspective on all aspects of the business. The findings are an instrumental guide for our strategy. We continue to work on our mission of providing customers with the best technology supported by exceptional service and training to remove the complexity out of their eDistribution business. The result only deepens our commitment to helping hotels improve their channel management, competitive positioning as well as optimize revenue,” said Greg Berman, Chief Operating Officer, eRevMax.

The survey results collected from 500 responses shows that 86% of RateTiger customers are satisfied with the service delivery cycle time, while 90% of Connect users think the time taken to resolve issues meets their expectation.

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Spa & Golf Resort Weimarer Land Selects eRevMax for maximising online sales

The four-star-superior hotel Lindner Spa & Golf Hotel Weimarer Land, a luxury hotel brand in Germany, has selected eRevMax to streamline its online distribution. The property, is using CONNECT by eRevMax to ensure real-time connectivity between the property and online travel agents, meta-search agencies, travel agents and corporate clients.


“eRevMax solutions give instant control over yield management, allowing our properties to handle more product types while automating the distribution process. We were able to identify the best producing websites, while also improving our overall online booking,” said Mark A. Kühnelt, General Manager, Spa & Golf Resort.

Opened in 2013, the 160 hectare complex, including a 36-hole-golf course Lindner Spa & Golf Hotel Weimarer Land offers 94 rooms on 5 channels. From now they can utilize eRevMax’s superior connectivity with over 100 global and regional distributors including OTAs, Tour Operators and Wholesalers to reach out to new markets.

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eRevMax redefines rate shopping with RateTiger Managed Report Service

eRevMax, the leading hospitality technology & solutions provider of channel management and connectivity solutions has launched Managed ReportsService  which will offer high quality market intelligence data for informed pricing decisions. Hoteliers now can get high quality rate intelligence data from over 42000 hotel sites and around 100 travel sites.

Vishal Arora, VP – Product Management, eRevMax states that understanding market trends and implementing balanced pricing strategy is very crucial in this ultra competitive world. Managed Reports will help hotels evaluate pricing strategies for their properties and that of competitors and turn that insight into bottom-line results based upon actionable business intelligence.

The data goes through a strict Quality Assurance (QA) process for maximum accuracy, thereby hotels get highly accurate data to plan and forecast with greater precision through historical and future rate analysis.

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What is Revenue Management?

Revenue management is a term that’s often thrown around the hotel industry, but what is it, exactly? Some believe that revenue management is all about ensuring a capacity of 80 percent or more at any given time, regardless of what it takes, but does this really equal good revenue management? Perhaps not. Instead, revenue management is about understanding past trends, having a good overview of the current market, sensibly forecasting the future, and addressing rates based upon these aspects combined. It’s about knowing what people are willing to pay, rather than what they want to pay, and not succumbing to cheaper rates for fear of not meeting targets. Overall, revenue management could be described as ‘the art of turning business away’.

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eRevMax receives high marks for service and technology innovation

As part of eRevMax’s continued dedication to customer satisfaction and to ensure that existing and future products are developed with client’s need, eRevMax have recently asked their RateTiger and Connect users to complete a survey based upon the service they have received, along with ease-of-use and ongoing support of the products in question. The results have been published, and indicate that eRevMax deserve their place at the top of the board in channel management. 85 and 90 percent of RateTiger and Connect users cite the software as
being reliable and easy-to-use, respectively, and the majority would recommend the software to others.

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