Amadeus said on Wednesday that it had launched a market forecast capability “to help hoteliers accurately track revenue and manage costs.” The tool is part of its business intelligence software suite, RevenueStrategy360, for hotels that it expanded after its acquisition of TravelClick several years ago.
“Most tools today look at historical data, but ours focuses on forward-looking data,” said Katie Moro, vice president of data partnerships. “We track on-the-books reservations data from companies that both use our services and those that don’t. We blend it with historical seasonality and trends.”
Moro spoke from Orlando at the trade show HITEC (Hospitality Industry Technology Exposition and Conference).
More than half of hotel bookings are being made within a week of travel, Moro said, citing data for bookings being made across all channels for about 35,000 hotels globally using Amadeus’s business intelligence software. So many revenue managers at hotels have shorter windows to make decisions on rates, promotions, and allocating inventory.
Amadeus’ forward-looking data shows global hotel bookings are on par with 2019 and surging.
“We’re tracking on a weekly basis hotel reservations coming in, less cancellations,” Moro said. “For the week ending June 17, we saw an increase of about half a million reservations over the week prior. We had also seen a huge spike ahead of Memorial Day, so it’s possible this increased demand is for the July holidays.”
Tags: amadeus, Amadeus Hospitality, business intelligence, hotels, rates, revenue management, travel technology