Why hotel quality should be right next to price as a KPI in 2022
Revenue management is in firm focus for hoteliers as the travel industry starts to recover in many regions. Yet, if quality measurements are not given the same priority over the pandemic recovery period, it could have serious consequences for hotels. Hotel quality has become as imperative as price in terms of influencing the guest decision and the perceived value of the overall experience.
At TrustYou, our reputation management and semantic analysis data show that guests have become more critical of quality standards. Hotels will need to stay on trend with the data in order to position themselves for the future. This could either be a scramble, or hotels can choose a complete Guest Experience solution. One that effortlessly gathers all guest review data in one place, makes it easy to access and analyze, and delivers valuable insights.
Automated TrustYou Impact Scores as a way to assess overall hotel performance
TrustYou captures 90% of the world’s guest reviews daily, with the ability to detect up to 7 million guest sentiments within the same time frame. Analyzing this data using predefined, strategic semantic categories, allows for measuring the impact that, for instance, cleanliness (or housekeeping, room, service, breakfast, etc.) has on the average hotel Performance Score. This way hotels can easily identify the areas where quality standards need to be raised in order to improve the overall quality rating, and hotel reputation.
When discussing this kind of quality data next to price, specific KPI reports can effectively support hotels in making important business decisions. A custom dashboard summarizing all the data can easily be downloaded, or sent via email for further consideration and planning. If your overall reputation is exceptional, you can safely push up your prices a little higher than a competitor who may have a lower rating.
Look at the guest journey, key concerns, missed opportunities, expectations and preferences
Combining this kind of quality report and comparative index with hotel pricing analytics is a powerful combination that should not be underestimated. Nowadays guests are more likely to choose a hotel with a slightly higher score than a slightly lower price.
Looking at hotel reputation as a key KPI has become increasingly invaluable, and with the TrustYou Guest Experience platform, it is no longer hard to aggregate and visualize such data. Price and revenue management is the foundation to any business, but pure price metrics are no longer enough to bring guests back. Make sure to listen to guest expectations, raise your standards where necessary and guests will be willing to come back, and pay more.
Contact the TrustYou team today to request a demo and further discuss a TrustYou Guest Experience solution especially tailored for your hotel.