How to Stay in Touch with Current Trends in the Industry
Staying competitive requires proactive strategies and continuous market awareness. By closely monitoring trends and adapting to shifting customer needs, hoteliers can unlock new opportunities for growth. Below is a list of suggested resources.
- Look at aggregate data (STR, OTA analytics dashboards) to see how the comp set and city/area are trending.
- Identify need dates and create a compelling offer, usually a combo of room discount, length of stay, and a seasonal value add.
- Keep an eye on the big picture and how that affects how people plan travel.
- Sign up for competitor email lists so you can learn what offers they are marketing to guests. You can also do this with city websites and local venues to know what concerts/events are coming to town.
- Subscribe to sites like Agency 360 to see what corporate and consortia business is coming into the area. Demand 360 is great to use in conjunction with STR as it goes deeper into Transient segments to see which subsegments are producing – OTAs, Negotiated, Wholesale, etc.
