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WHAT'S THE BUZZ IN HOSPITALITY?

Find Out How the Hotel Industry is Enhancing the Guest Experience with Predictive Analytics

May 29,2018

The hotel industry has traditionally been guest-centric. Implementing integrated strategies to enhance the guest experience has yielded happier, more loyal guests and added incremental revenue. In recent years, ‘Big Data’ has gained importance in becoming a fundamental approach to optimizing guest satisfaction. While hoteliers are increasing their use of Business Intelligence (BI) to collect data that focuses on the guest and their buying patterns, analyzing and interpreting these data to create a predictive business model is also crucial.

Predictive analytics drives value through various methods. With guests being the primary focus, we have listed a few ways analytics are augmenting the guest experience:

  • Guest Analytics Identifying guests by their interests, historical purchases and behaviors enables hoteliers to cater to their specific needs. And with integrated solutions like PMS, POS, and reservation systems to track guest data, and predictive analytics to project future trends and improve hotel services, allows for a more seamless guest experience.
  • Tailored Services and Dynamic Pricing- The ability to interpret guest data in real-time helps hoteliers personalize their ancillary services. For example, using integrated analytics to customize and set dynamic pricing to the properties services, such as spa, golf, and other entertainment, not only enhances satisfaction, but also helps increase revenue.
  • Intuitive Personalization- Implementing personalized AI (Artificial Intelligence) helps increase the hotel’s ability to identify future trends in guest service offerings. An intuitive solution can help generate predictions about guests, and an integrated AI solution can assist in creating personalized services which enhance the guest’s stay. These services may vary from breakfast to fine-dining and many other on-property activities.
  • Automated Processes for Increased Efficiency- A strategically crafted, process automation of internal operations and guest care services will optimize operational efficiency. For instance, hotels are increasingly incorporating chatbots in their marketing and sales to learn everything about changing demands of the guests, their choices, preferences, existing promotional offers, etc. This is substantially reducing the operational costs and proving to be beneficial for serving guests with personalized responses to their changing preferences.

With ongoing changes in guest expectations, it is important for hoteliers to implement analytical solutions that generate future insights to help augment the guest experience. Leveraging predictive analytics will not only help create satisfied guests, but often results in increased revenues.

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