nSight Launches New OTA Search and Booking Intelligence Solution for Hotels
Solution Gives Heritage Hotels and Resorts the ability to measure the impact of rate changes on OTA booking performance
NASHVILLE, TN – April 2, 2014 – With online travel sales expected to be greater than $600 billion in 2014, understanding the online consumer is more important than ever. nSight, the leading provider of online consumer shopping intelligence for the travel industry, today announced it will aggregate the fragmented online travel agency (OTA) landscape into an easy-to-use view for hotels, making competitor benchmarking simple and rate decision making easier. Heritage Hotels and Resorts is among the first management companies to use the new search and booking intelligence solution for hotels.
nSight’s comprehensive view of consumers across thousands of OTA and travel websites enables Heritage Hotels and Resorts to measure the impact of rate changes on search and booking volume and use that price intelligence to respond to competitive conditions, proactively adjusting rates to increase online guest conversion.
“Online reservations represent a large percentage of our portfolio bookings. To manage our growth in an increasingly competitive market, we needed visibility and insight into our third-party website performance,” explained Caryl Helsel, Vice President of Revenue & IT Strategies for Heritage Hotels and Resorts. “nSight will allow us to identify rate trends and elasticity across the OTA channel, specifically enabling us to see at what rate competitors are attracting shoppers from our properties and at what rate are shoppers convert to a booking. By comparing competitive rate data from active search and booking transactions, we can make better, more informed decisions that help us attract, convert and maintain more online shoppers.”
A customized web-based application, nSight allows hotels to easily benchmark performance against their competitive set across more than 5,000 websites in the OTA channel. Hotels can see OTA current search and conversion performance as well as forecast consumer demand with travel date filters up to 90 days into the future.
“Heritage Hotels and Resorts is a progressive organization,” said Jami Timmons, President and Chief Product Officer at nSight. “They understand the value of good actionable online data. We’re excited to be working with Heritage in the fast growing New Mexico market where the use of data-driven marketing can effectively generate incremental tourism revenue at the local level.”
Heritage Hotels is using nSight’s Hotel BI solution in six of its award-winning collection in Albuquerque, Santa Fe and Las Cruces properties.
Aggregating 30 billion global travel searches and bookings from 5,000 online travel websites, nSight’s decision platform and data products enable hotels to make better, more informed decisions, market smarter and establish more profitable operations. With easy to follow data visualization, concise analytics and compelling graphics, the custom BI solution’s intuitive interface allows users to discover trends, benchmark competitors and reveal opportunities at the both the consumer and geo-market level, and then act on the information quickly.
About Heritage Hotels & Resorts, Inc. (www.hhandr.com)
Heritage Hotels & Resorts, Inc. is the largest independent boutique hotel company in New Mexico. Established in 2005 to own and manage New Mexico hotels and provide a rich, authentic experience for visitors to New Mexico, it began as a vision to develop culturally distinct hotels that offer traveling guests more than they ever expected. A percentage of all of its revenues are returned to local cultural causes to preserve them for generations to come. Each of the unique hotels provides a true sense of place and exhibits an appreciation for the history and culture of the Southwest.
About nSight (nsight2.wpengine.com)
nSight is the largest aggregator of live, global travel search data that redefines travel intelligence and transforms how it’s used. nSight was founded to simplify and monetize big data by making business intelligence about the traveler again. We’re a new kind of travel intelligence company, providing the human connection between data and intelligence. Aggregating 30 billion global travel search and booking transactions from more than 5,000 travel websites, together with hundreds of millions of unique consumer insights on active travelers, nSight makes travel marketing more relevant and decisions more precise. Visit nsight2.wpengine.com. Follow us on Twitter, Facebook and LinkedIn.