“A useful tool for DMOs, and a game changer for individual properties.”
What sold us on it was the ability to look forward. We’re a drive market beach destination, with plenty of healthy competition from surrounding areas. It was interesting to look at prior year data, but our lodging provider partners needed data that would help them make day-to-day management decisions. And that’s what Inntopia Business Intelligence promised.
Empirical data is really powerful. For a long time, there has been a good source of hotel-based data for destinations like ours, but it only looks backward in time. We wanted a more complete picture of the destination, including the condo market, and we wanted to be able to look to the future.
Now we can dig in and start to unpack the trends. What causes shifts in demand? Is it rate? We can compare rates to occupancy. Is it timing? We can plot bookings year-over-year, and per unit type. Is it events? We can layer on our event calendar and see if rates or occupancy are popping in conjunction with something that’s happening.
We can look ahead 60 days and understand how things will shape up as we move forward. Participating partners can now look months into the future with comparative data for rate, occupancy and booking pace of the entire destination as well as their own comp set, and the 60 day retail report is helpful as our restaurants and attractions anticipate future business levels.
But best of all, our partner property managers can plot their own data against everyone else and make better educated decisions about when to increase prices, when to discount and what to expect. And they love being able to go to their board and say, “Look! We’re doing better than the rest of the market!” or “Yes, we’re down, but not as much as everyone else.”
It’s a useful tool for DMOs, and a game changer for individual properties.
Partner Engagement Director, Visit Panama City Beach