While 2016 was marked by uncertainty and political instability in Europe and parts of North America, it was mostly business as usual in Asia. However, in today’s connected and globalised world, nothing happens in isolation. As hoteliers in the Asia-Pacific region wait to assess the fallout from 2016 on hotels in Europe, they nonetheless should be getting proactive about limiting their own downside risk in 2017.
Big Data and predictive analytics are poised to make a major mark on hotel revenue management in 2017. Access to new, forward-looking data sets are expected to provide additional insight into market demand, and integrating customer data will allow hotels to better anticipate their guests’ needs and personalize every aspect of the guest stay, including a tailored rate.
For years, mobile has been on the move as consumers’ preferred platform for looking up and reserving hotel rooms and flights. According to new data from Expedia Media Solutions, mobile travel booking has already arrived — at least in the United States.
As we all dive into the new year, hotel owners, operators and revenue strategists are probably a bit perplexed as they try to determine what kind of 2017 it will be. Will the hotel industry’s long upswing continue with further increases in occupancy and higher levels of average rate? Or will the merry-go-round finally come to a stop and everyone need to devise ways to gain bigger shares of declining or flat markets?
At its Airbnb Open conference in November, the sharing economy platform unveiled Airbnb Trips, its foray into guided tours and events. Whatever effect it has on Airbnb’s $30 billion valuation is not for me to say, but I think it portends different things for branded and independent hotels.