Hotelchamp’s Demand Tracker is a powerful data tool that helps hoteliers see what the demand for their hotel is up to 365 days into the future. During the recovery period after the worldwide lockdowns, past hotel data isn’t much of an indicator into what hotels can expect. The data from Hotelchamp’s Demand Tracker can give some incredibly valuable insights during this time. To help fast track you to these insights, here are 14 ways that hoteliers can use Hotelchamp’s Demand Tracker.
Identify unexpected demand spikes
An event is announced, the weather forecast looks great, a famous blogger uploads a photograph from your hotel, your town was on a popular TV show. Whatever the reason demand spikes happen, they are notoriously difficult to predict so spotting them in real-time is important.
1. Identify a demand spike. Look at the demand graphs to see which dates have an unusually high volume of searches.
2. Create email alerts. Flag a demand spike as it happens, this early warning system will allow you to adjust prices quickly. Using Demand Tracker you can create the alerts that are relevant to your hotel.
See what dates are converting well
A date isn’t selling well. There are two different explanations: A. the rate is too high, or B. the demand for the date is low. The problem is that it’s hard to see which explanation it is—is it the rate or is it the demand? Demand Tracker can help answer this question.
3. Spot a rate that is too high. If there are a lot of searches but the conversion rate is very low for a date, then this suggests that the rate is too high.
4. Understand when the rate is not the problem. If there are no bookings for a date but also very few searches, then your problem is low demand, not your rate.
5. Know when to run flash campaigns. The number of searches for a close-by date is very low, but you need to fill rooms. Consider running a flash sale campaign for visitors looking at those dates to convert as many as possible. Your competitor’s rate intelligence tools will not pick this up.
6. Know when to run email campaigns. If demand is too low for a close-by date then increase demand with an email offer to your domestic or regional subscriber base for those dates.
See what type of travellers are looking for dates
Every traveller is different. The segment mix (the share of business, leisure, families and groups) for particular dates tells an important story. In Hotelchamp’s Demand Tracker, you can easily see the demand for these personas.
7. Find popular business dates. As business travellers are less price-sensitive you might be able to increase prices.
8. Identify popular leisure dates. These travellers may be more price-sensitive, so high rates might put them off. Maybe target leisure travellers on exit with a personalised offer.
9. Understand where demand surges come from. Compare the segment mix for a date with surging demand to a comparable date, this will show you the segments that are driving this demand.
10. Spot holiday periods. If there is a week where families make up a high amount of searches then this suggests there is a school holiday in one of your markets. Create a special Hotelchamp promotion to target these guests.
11. Find low performing segments. Do Sundays always have a low conversion rate? Take a look at who is booking those dates (e.g. ‘Bleisure’ travellers) and make a personalised campaign to convert for them.
Room-type conversion rates
Room-type conversion rates offer a window into how your visitors are reacting to your room rates, room proposition, and website content.
12. Identify pitfalls in your booking engine. The conversion rate for the junior suite is low—perhaps your room description and images are not sufficient for the price people are being charged.
13. Find up-sell suggestions. Does a larger room type have a higher LOS? If a visitor selects a long date range then suggest to them that that room is popular for longer stays.
14. Improve visitor conversions. Is the room with a view converting much better than the one without? For low occupancy dates, consider automatically upgrading guests with the bad view—after all, they’ve already chosen not to buy an upgrade.
If understanding your future demand is important to your hotel at the moment, make sure you sign up for a 30-day free trial here. If you have any other questions about how Hotelchamp’s Demand Tracker could work for your hotel, please contact us at firstname.lastname@example.org.