Event Recap: Hotel Data Conference 2024
Each year, the N2Pricing™ team heads to Nashville, TN for the highly anticipated Hotel Data Conference! This year was particularly exciting, as we not only enjoyed a productive event but also co-hosted a special dinner with Lighthouse. Additionally, Tess McGoldrick, SVP of Travel & Hospitality, shared her insights on the panel “Human Nature in an Age of Automation.”
The conference had so many valuable sessions, sparking new ideas and strategies for hoteliers.
Here are some key takeaways:
- Profitability Takes Center Stage: Total RevPAR is emerging as the leading performance indicator, with a strong emphasis on ancillary revenue from customer spend. Understanding and leveraging this can significantly impact your bottom line.
- Bifurcation is the Buzzword: The conference highlighted the importance of diving deeper into data. High-level trends often mask important details. By examining data through different lenses—such as upper vs. lower chain scales, weekday vs. weekend, and top 25 markets vs. the rest of the Americas—you uncover nuanced insights that can drive more informed decisions.
- Focus on Incremental Improvements: For effective total revenue management, start small and build gradually. Rely on advanced technology to streamline processes and enhance accuracy without overwhelming your team.
- Enhancing Guest Experience Through Automation: Automation is not just a trend but a powerful tool to free up time and improve guest interactions. By automating routine tasks, you can focus more on delivering exceptional experiences.
Curious about how automation and improved guest experiences can transform your operations? Reach out to our team to discover how N2Pricing™ RMS can elevate your hotel's performance and guest satisfaction.
