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WHAT'S THE BUZZ IN HOSPITALITY?

Data Speaks Volumes in The Quest for A Competitive Edge

Jun 02,2019

Smartphones have not only changed the way the world communicates but also how it makes decisions. An incentive motivates resort guests with an impending expiration, and this is excellent news for resorts with the technology that sends push notifications to reach guests and gather real-time data at once instantly. Data that sheds light on spending trends is just the beginning though. Analytics translates to being able to spot and react to events in real-time – an essential trait when looking to make guest service more proactive. Whether for guest retention, identifying supply chain issues before they arise, or understanding top-performing service staff, the data speaks volumes to creating a competitive edge.

Prediction models are another business game-changer. Big data and modern software tools make predictive analytics more accurate and efficient. There are countless ways that resorts find value in their existing data. Today we outline a few competitive advantages of a data-centric business approach:

Informed Decisions – With the speed and ability to analyze existing POS or PMS data, resorts can make decisions based on actual numbers, including RevPAR, ADR, table turn times and average spend per cover

Cost Reduction – Illuminate areas of 'hidden' costs associated with insights about declining item sales or poor server performance

New Offers – View guests’ habits and use the information to offer personalized incentives that upsell and cross-sell services like spa, golf, events, and dining

Access to data has never been more relevant. The information age provides the opportunity for rich data that brings guest rooms, spas, golf courses, and restaurants into the numbers-crunching world - an essential complement to the declining numbers from slots and tables. Integrated resorts get more bang using existing POS and PMS data.

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