Global hospitality companies capture a wealth of information with every reservation: the rate, room type, reservation type, number of beds, and much more. They can also obtain information about their competitors’ performance through established data providers, like Smith Travel Research or TravelClick.
Capitalizing on these data elements has become a standard practice for most hoteliers. However, relying solely on the information derived through one’s own reservation process and the metrics of competitors is not enough to stay ahead in the modern hospitality industry. Instead, companies must explore new ways to acquire and utilize information, including external events data.
