Introduction Webinar HASC’s Modern Pricing and Transparency Initiative September 10, 2014
Webinar - The 7 Layers of Data that Will Improve your Pricing
Transcript of Webinar - The 7 Layers of Data that Will Improve your Pricing
| Introductions
| The building blocks of an
accurate forecast
| New consumer-centric data
sets to improve your pricing
| Online reputation is a critical
component of pricing
What We’ll Cover
About Duetto
Founded byIndustry Leaders
World-ClassTechnology Development
Committed toCustomer Success
Big Data = Better Data
Reviews & Social Media
Competitor Pricing Data
Booking & Reservation Data
Web Shopping Regrets & Denials
Weather
Air Traffic
Traditional Revenue Management
Traditional Revenue Management
Our Vision
Enable our clients to deliver better
guest experiences and to profit
from Guest Intelligence.
Data/APIRevenue
Optimizer
Guest
Surveys
Reputation
Management
Guest Intelligence
Hotel Owners &
Investors
Management &
Representation
Companies
Hotels
RestaurantsConsultants &
Advisors
Destinations &
Star Ratings
What Do We Do?
• +20,000 hotels and brands in +100 countries rely on ReviewPro to improve guest satisfaction and increase revenue.
Clients & Partners
Impact of Reviews on Revenue
of travelers indicate that their decisions are highly influenced by reviews & other user
generated content.
The average number of websites travelers visit before booking a trip.
of consumers say they won’t book a hotel if it has zero reviews.
of customers will book a room at a property that responds to reviews over a hotel
that does not.
of travelers changed their primary choice during the booking process after using
social media and review sites.
The percentage by which a hotel can increase its pricing while maintaining the same
occupancy or market share if it improves its review scores by 1 point on a 5-point
scale.
92%
11%
3853%
33%
(e-tailing group)
(Expedia Media Solutions/Compete)
(PhoCusWright)
(Cornell University)
(Tripadvisor)
(World Travel & Tourism Council)
68%
Impact of ORM on Revenue & Hotel Valuations
Industry references of landmark studies
A 1 point increase in a hotel’s Global Review Index™ equals up to:
+0.89% in ADR
+0.54% in Occupancy
+1.42% in RevPAR
Driving Higher Demand
Hotel A
*same amenities and service at the same price
Positive online reviews
Less positive reviews
High popularity
=
Higher demand
=
Higher revenue
Low popularity
=
Lower demand
=
Lower revenueHotel B
Identical value proposition*
Leverage Your GRITM Scores…
• Analyze the evolution of your online reputation (GRITM) and take it into consideration when optimizing pricing decisions.
… And Those of Your Competitors
• Monitor the evolution of your competitors’ online rating and consider how that could affect your forecasting & pricing.
How Savvy Hoteliers Achieve Measurable Results
Online
Reputation
Management
Guest
Satisfaction
Improvement
Guest Intelligence Across the Organization
Revenue & Distribution
General Manager
Food & Beverage
Quality & OperationsSales & Marketing
Front Desk
Housekeeping &
Maintenance
Turning Insight into Action
Advanced Semantic
Analysis
Customized Filters & ViewsMobile AppAutomated Reporting
Competitive Benchmarking
Expert Tips for Climbing the Ranks
Adele’s recommendations:
• Analyze reviews for guests likes & dislikes.
• Ask, “How can we make guests happier?”
• Identify touch points that “light the guests up”.
• Review opportunities to “sparkle sunshine” on
guests daily.
• Read reviews & share with staff daily:
- Reinforce primary objective to make
guests happy.
- Understand their role & relationship
between guest happiness & revenue.
Adele Gutman
VP Sales, Marketing &
Revenue
Library Hotel Collection
Every time you make a guest truly
feel cared for, respected and
appreciated, you create an
opportunity for another positive
review. Every employee must do this
at every touch point, for every guest.”
“
Benefits of a High Ranking
Library Hotel Collection sees the following benefits
of their outstanding online reputation:
• More travel shoppers see the positive comments.
• Greater demand.
• More opportunities to convert.
• Higher average daily rate.
• Billboard effect.
• Happier staff.
HAPPY GUESTS
GREAT REVIEWS
HIGH RANKING