Any type of disruption in the political, economic, or environmental balance has the potential to change the way that people act. For the hospitality industry, these types of changes have always been challenging to forecast, with past information and current trends used as a loose guideline as to what to expect.
With the recent worldwide shift in travel due to the COVID-19 pandemic, this traditional model of predicting demand, vacancies, and behavior has become obsolete. Today, it is essential to access the latest in real-world events to be able to minimize vacancies, schedule staff, create the ideal pricing, and increase guest satisfaction from the booking to checking-out experience.
How It Works
As a hotel owner or a business in the hospitality industry sector, having the ability to use social media, news, and indicators from across the geographic area you serve allows demand sensing to accurately forecast how to plan and run your business.
It starts with determining the specific geographic area and the time range to forecast. It also looks at the specifics of the service you provide and compares it to the real-time information. Through the analysis of big data from these indexes and sources, the specifics of your service, and the input from historical data, it is possible to predict the future demand in the period indicated with amazing accuracy.
This is revolutionary for the hospitality industry. With a 95% accuracy rating, this allows the hospitality and travel industry to price, staff, and effectively manage their overhead throughout the year. To know more information visit us.
