Amadeus, a technology provider for the travel industry, is targeting hotel and destination marketing organisations with a new business intelligence tool. The technology giant has partnered with start-up company Forward Data to develop 'Forward Keys' based on data supplied by Amadeus.
The solution is designed to help hoteliers anticipate future demand, compare budgeted occupancy against forecasted market occupancy and allow more accurate decisions on revenue management.
The tool uses current market data supplied by Amadeus to give users real-time booking activity data. This enables hotels to compare their bookings with the number of arrivals in their city on a given day.
Destination management organisations can monitor the impact of marketing efforts by comparing bookings made during and outside the campaign period, and benchmark their performance against competing destinations.
Forward Data CEO Olivier Jager said: “When it comes to demand forecasting and market performance monitoring, hotels and destination marketers are still working in the dark with little reliable data to support business decisions and limited ‘live’ benchmarking.
“For example, revenue management techniques in the hotel industry are still largely based on historical data. This is a missed opportunity in an industry which is largely built on computer-based transactions which generate vast quantities of data daily, providing huge insights on current and future trends.”
He added: “If a hotelier sees bookings are up by 5% versus the previous year, they would be happy about that. “But if arrivals at the local airport are up by 15%, the hotelier is missing an opportunity – and that is the kind of insight that only air booking data can provide.”