Yes, we have been here before.
Big data and A.I were predicted to become a core aspect of business years before the pandemic even began. Microsoft, Google, Facebook, Twitter and others had already diversified into data brokerage for 3rd parties, providing real time insights to marketers to deliver advertising.
I have always believed that A.I. & Data Driven operations will be the inevitable future of hospitality. As trillions of bytes of guest behaviors and data flows through hotel databases, there is so much more that hoteliers can learn by creating basic guest profiles.
From predicting their next trip to predicting when they will have dinner, hoteliers can have treasure troves of data just waiting to be harnessed. In an age where there is so much homogeneity even with technology, data driven operations are the competitive edge that hospitality providers are looking for.
I’ve seen robots, mobile apps, self activating vacuum bots, voice assistants, bluetooth keys etc. over my travels, yet not every hotel and resort owner is still vested in the idea of big data insights.
Oracle mentions in their Big Data eBook that data is capital in the modern world. The intrinsic value of big data to hotel and resort owners is immense considering it can make guest stays better, service delivery faster, property maintenance cheaper, and enhance revenue.
As hotels and resorts reopen they will look to target even larger audiences thanks to the insights and tools available for marketing departments. Digital platforms, distributions systems, and websites will lead the way to grow revenue and find new audiences for unique hospitality experiences.
Take the case of Marriott Hotels, undeniably the global leader in big data analytics implementation. Marriott Hotels transitioned into a data driven hospitality provider even before the competition had caught on.
Using what their management terms Dynamic Pricing Automation, Marriott is able to get real time insights to make more profitable decisions in their everyday operations. Here is an excerpt from a brilliant Datumize article explaining the same:
“Dynamic Pricing Automation requires real-time, accurate data from a variety of sources, which refers to local and global economic factors, events and weather reports as well as key metrics, such as average daily rate, cancellation and occupancy, revenue per available room, reservation behavior, average occupancy rate, gross operating profit per available room.
By integrating and analyzing all this information, Marriott is able to predict customer behaviour, understand how its properties are performing compared to their competitors in the same area targeting similar profiles and eventually adjust its pricing strategy accordingly and proactively.”
In addition, Marriott invested in making their experiences seamless and more comforting for guests.For this the global giant introduced a cutting edge line of digital technologies across their hotels including the breakthrough BonVoy mobile app. They also enhanced room service through Alexa voice assistants installed in selected hotel franchises.
Marriott hotels base their entire operations based on real time insights from revenue, inventory, retention, service, maintenance, to energy conservation.
As hoteliers learn to harness the power of data, we will begin to see improved applications of guest technology in even the smallest hotels.
Conclusion
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Until next time, see you again soon.
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