OTA Insight previews Market Insight, its new predictive market intelligence technology that is able to capture hotel booking intent in real-time.
“The way we’ve been looking at data to gauge booking demand all these years has been quite limited,” OTA Insight CEO Sean Fitzpatrick said in a statement. “Hotels have traditionally based revenue decisions primarily on [on-the-books] data, which provides some indicators on the potential for future demand, but in reality it’s only part of the picture.
“With a broad range of additional sources of information available that can help signal booking intent, the industry is crying out for a revolutionary technology that harnesses the true power of this data.”
Market Insight’s new technology is built to tap into billions of weighted data-points from multiple top-of-funnel data sources, ranging from hotel web searches, online reviews, flight data, events and holidays to alternative lodging inventory data and weather forecasts and uses its artificial intelligence-powered technology to deliver location-specific and segmented demand insights.
This new real-time market intelligence technology will make it easier and faster for hotels to uncover revenue opportunities ahead of the competition and allow commercial teams to align budgets and campaigns with one clear view on future market demand.