Today’s paradigm in the hotel business is focused on price optimization where:

1) price is a function of demand and demand is a function of price, and

2) decisions should be based on demand, remaining availability and relative competitor price positioning.

According to this article, hotel business intelligence is moving toward:

1. Better industry benchmarks centered around profitability, not just revenue.

2. Market-aware price optimization tied to distribution strategy.

3. Behavioral economics and neuromarketing embedded into pricing and marketing decisions.

4. Integrated technology with CRS, RMS, PMS, POS, social media, loyalty and sales data all blended into one system and/or data source.

Get the full story at HotelNewsNow.com