Travel & Hospitality Bounce back post-COVID-19

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The travel and hospitality industries were ravaged by the pandemic, as consumers were forced to stay indoors to stay safe and flatten the curve. As a result, many organizations in the space struggle to stay afloat as hotels, airlines, and cruise ships remain mostly empty.

Ultimately, the travel and hospitality industries will survive the pandemic. After all, they are essential services that had been rapidly growing before the virus. In normal circumstances, both will always be in demand.

Making matters worse, businesses in these industries are facing a significant risk from disruptors like Airbnb. They also need to be concerned about data security issues while doing whatever they can to engage and excite a travel-weary consumer base.

To get ahead, hospitality and travel companies need to serve up incredible experiences consistently and continue to optimize their strategies. And this is only possible with data.

Enter Datameer Spectrum and Datameer Spotlight, solutions that help travel companies compete against Kayak and TripAdvisor’s services and help hospitality companies level the playing field with Airbnb.

Here are some ways both solutions can help travel and hospitality companies better engage their customers when life returns to normal.

Recommendations Engines

Now more than ever, customers want options when traveling — whether it’s trying to find the best deals, searching for late-night flights that may have fewer people on board, hotels that have strict COVID-19 protocols, or amenities to support remote workers, among other things.

With Spectrum and Spotlight, companies gain access to the real-time data processing capabilities needed to serve up personalized recommendations to all customers. In an age where consumers increasingly expect personalized experiences, this functionality is truly game-changing.

Price Forecasting

A recent report found that 50 percent of U.S. travelers say that finding the best price is one of the biggest pain points of the entire travel experience.

Datameer Spectrum and Datameer Spotlight can help here, too. By consolidating data from multiple sources and running rapid data analytics, travel agency sites like Kayak and Hopper can automatically alert travelers when the best prices are available, thereby solving this major pain point.

Dynamic Pricing

Different times of the year are busier for the travel and hospitality industries. Some of this is seasonal, and some are based on events (e.g., conferences, concerts, and sports).

With a robust analytics pipeline in place, travel and hospitality industries can build dynamic pricing models that reflect evolving market conditions. For example, a hotelier might offer a room for $100/night on normal days. When a famous musical act is in town, that rate might be doubled.

Using predictive analytics, hospitality and travel companies can better predict what the future might look like, enabling them to generate more profit.

Fraud Detection

Each year, the travel and hospitality industries lose billions of dollars due to fraudulent transactions and consumer scams. In fact, Juniper Research says that these are the two industries most likely to be defrauded.

With Datameer Spectrum and Datameer Spotlight, companies can migrate their data to the cloud and, once there, run analytics to better predict fraud by pooling structured and unstructured data and providing cutting-edge visualization services.

Customer Experience Monitoring

At the end of the day, in an industry that’s more or less homogenous, travel and hospitality providers have to answer savvy consumers and delight them with exemplary experiences. This requires having a pulse on what consumers are saying about your brand across all online channels at all times.

With the help of Datameer, companies process massive volumes of customer reviews in real-time and use their findings to identify trends and opinions that can shape services and offerings. This insight can be used to increase customer loyalty, gain a leg up on the competition, and drive competitive advantage.

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Are you looking to take your travel or hospitality company to the next level and become a truly data-driven enterprise? Request a demo of Datameer Spectrum and Datameer Spotlight today to learn more about how to unlock the full value of all of your data.

The future of your organization is hidden in your data.

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