Information is the brand new oil – we used that quote many occasions earlier than. However why are resorts not getting it proper? They should understand the true worth of ‘Massive Information’, not solely when it comes to revenue margins however in different methods too, comparable to enhancing operational effectivity, employees productiveness, and visitor satisfaction? These are questions Dr. Michael Toedt solutions on this White Paper.
OTAs comparable to Airbnb, Reserving.com, Expedia, TripAdvisor and so forth have two issues in frequent. One: they personal nothing tangible. Two: they’re extraordinarily helpful due to the amount and high quality of ‘Massive Information’ they maintain. And each of those give OTAs the power to show that knowledge into motion!
Examine the worth of the biggest lodge chains with the worth of the reserving holding (which incorporates reserving.com). You’ll understand that the worth of the lodge chains falls aside! And since traders love ‘Massive Information’, they’re favoring the information suppliers (OTAs) over the tip service suppliers (resorts), impacting the latter’s income and firm worth.
However the place precisely are resorts going incorrect right here? And the way can they put it proper to allow them to understand the true worth of ‘Massive Information’, not solely when it comes to revenue margins however in different methods too, comparable to enhancing operational effectivity, employees productiveness and visitor satisfaction? These are questions I’ll reply afterward on this White Paper. First, nevertheless, I’ll look at what ‘Massive Information’ means to resorts, how it may be used and why it’s so essential.