Pricing challenge #1: Having the right data

There are only so many things you can accomplish in your working day. Gathering outdated and unusable data needn’t be one of them.

In the world of data, quality is everything.

So is having the right data in the first place.

We know that Big Data is growing exponentially. It's everywhere. In fact, the International Data Corporation predicts the world’s quantity of data will grow from 45 zettabytes (a trillion gigabytes) in 2019 to 175 zettabytes by 2025, a staggering growth rate of 61%. That's a lot of data.

And for hotel revenue teams in 2023, pulled in many different directions, wearing multiple hats, while still having to make key strategic decisions that influence their property's profitability, there's little time to squint through spreadsheets of data.

We want to help you to focus on the data that really matters, like what's going on in your market and how your competitors are performing so that you can start the year strong.

To get started, here are some helpful bite-sized blogs:

• A guide to market segmentation and pricing rooms correctly: When a revenue manager knows their market segments in detail, they can provide the most competitive pricing, promotions and discounts.
• How to get a fuller picture of your competitors' room rates: We trust rate shopper data to show us the truth, and often it can. But only if it comes from an apples-to-apples comparison.
• Top 15 features to look for in a rate shopper: Rate shoppers are an essential tool for hoteliers. But what should you look for when choosing one for your property?

We'll give you more insights into gathering actionable data during our webinar "2023 Guide to setting the right room rate at your hotel" on Wednesday, the 22nd of February

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