Developments in the time-trend analysis have made it possible for hoteliers to predict the effect of a single event on their room occupancy. Forecasting future demand plays a key role in the assessment of room costs, allocation of staff and budget among other factors. Data analysis is significantly helping hoteliers to understand the need to come up with the right approach as forecasted. For example, a popular music concert around the city will probably land more than usual number of guests in nearby hotels. Thus, the introduction of hotel intelligence software has allowed hotels to attract new customers and maintain customer loyalty along with balancing competitive pressures. Nowadays, organizations are understanding the value of capturing and storing data for decision-making and obtaining fruitful insights. With the implementation of business intelligence tools, a consequent development in the hospitality industry has been observed. Business intelligence encompasses individuals, processes, and technology that turn data into insights, which guide business for smarter decisions. Hospitality industry leaders use different components of business intelligence infrastructure arsenal to improve their productivity. For example, integrated data stores, such as data warehouses, provide access to vast quantities of real-time data and historical data for analysis. Online analytical processing (OLAP) cubes provide easy reporting while advanced analytical tools enable forecasting as well data mining. One of the real advantages of business intelligence is smart yield management. Effective yield management allows hotels to sell just the right room at the right time to the right guest at the right price. It is certainly complex as it involves multiple aspects of the business to improve and maximize profitability. Hence, these factors are propelling the growth of hotel market intelligence software market across the globe.
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The hospitality industry is among the emerging sectors to seek state-of-the-art technology and business intelligence. Booking optimization is one of the main ways market intelligence benefits the hospitality industry. Often the customers of hotels are business travellers from which hotels raise their sales as hotels concentrate on business rate optimization. Since certain days are busier than others, market intelligence helps to set the optimum price that drives a high occupancy rate. On the other hand, hotels are optimizing their prices by data mining. They may put historic booking trends into a formula and model so as to get a better picture of what happens if prices rise or fall, thus driving the growth of hotel market intelligence software market. This approach helps hotels to use their past data to make better, more profitable decisions for the future. This estimate is particularly helpful during the holiday season when the booking reservation is at a peak. Market participants provide customised solutions to drive this rising phenomenon. For example, HotelIQ offers a range of hospitality analytics solutions. The app includes an integrated analytical dashboard, tools for data collection and planning, and predictive features. The entire analytical system is divided into departments and hotel activity areas. Thus, such factors are increasing the adoption of hotel market intelligence software market.
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The detailed research study provides qualitative and quantitative analysis of the global hotel market intelligence software market. The hotel market intelligence software market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across the regions and further across all the major countries. The supply side analysis covers the major market players and their regional and the global presence and strategies. The geographical analysis done emphasizes on each of the major countries across the North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Hotel Market Intelligence Software Market
- By Solutions
- Sales & Marketing
- Revenue Management
- Labor Metrics
- Forecasting & Budgeting
- Reservation Management
- Point of Sales (POS) Solutions
- Logistic & Inventory Monitoring
- Customer Relationship Management (CRM)
- Others
- By Platform
- Web–Based
- Application Based
- By Deployment
- Cloud-Based
- On Premise
- By Application
- Independent Hotels
- Hotel Chains
- By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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