Personalization and Pricing: How to Drive Profitability in Web-based Booking Engines
The InterContinental Hotel Group recently conducted a global survey of their hotel guests, and came to the following conclusion, as expressed by their CEO: "Hotel brands have traditionally concentrated on being 2D – how to be both global and local. But our research shows that the rise of personalization means brands must be 3D [personalized, local, global] in order to build both trust and lasting relationships with guests and to win in a highly competitive global market," (Richard Solomons, CEO, IHG).
In a highly competitive and increasingly commoditized environment, many hoteliers feel that delivering a more personalized guest experience will be the differentiator, and recent research backs up this claim. With more guest data available than ever before, and the emerging technologies to capture, comprehend and act on that data, this vision is coming close to reality. The hotel company that is able to turn all of the data about guests and operations into improvements in the guest experience will win. Revenue management and pricing has a key role in this initiative, ensuring that personalization is delivered profitably.
More details at hospitalitynet.org