Data analytics are a hugely important and evolving facet of the hotel industry, according to multiple speakers at HSMAI’s recent Revenue Optimization Conference.
Speakers during the “The future state and opportunities of hotel analytics” panel said a higher degree of analysis of data is a key growth step for revenue managers across the hotel industry.
Here are some top takeaways from that panel.
1. Data won’t be put in silos
A wealth of data already exists in the hotel industry, said Alex Dragan, director of analytics for Four Seasons Hotels & Resorts, but that data isn’t yet shared and synthesized in a meaningful way. “We’re still building a lot of separate silos for data,” he said. “We sometimes lack the vehicles to connect data.”
He said the more data a company looks to process, the more of a financial investment it becomes. “Then it’s a question of what’s the return on investment on analytics,” Dragan said.
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