Vacation ownership company with 92 managed global resorts using Looker and BigQuery to establish advanced forecasting models to meet the demands of rapidly changing industry conditions.
LAS VEGAS – Diamond Resorts has deployed Google Cloud tools as part of a company-wide digital transformation. Diamond has been using Looker and BigQuery technology to accurately predict travel demand, monitor occupancy rates, track revenue and reduce expenses during the pandemic. With the help of real-time consumer insights, Diamond has been able to optimize the reopening plan for its global properties and meet the demands of rapidly changing industry conditions.
"While no one could have predicted the impact of the pandemic, we are thankful to have prioritized our company-wide digital transformation over the past few years," said Mike Flaskey, CEO of Diamond Resorts. "A key aspect of this was the implementation of Looker which has allowed us to quickly make data-driven decisions during a time of historic unpredictability."
Since reopening its resorts at the end of May, Diamond has experienced strong demand and checked in more than 370,000 guests, finalizing more than $200 million in new vacation ownership interests. This demand is largely driven by millennial travelers as Diamond's once-in-a-lifetime experiences – including private concerts and meet-and-greets with celebrities – appeal to a younger generation of members. As travelers continue to seek the additional space and professional management of "members-only" travel, vacation ownership is one of the most accessible ways for families to enjoy exclusive destinations and experiences.
By establishing Looker as an organization-wide business intelligence platform, Diamond Resorts can better track new reservations, reschedules and check-ins at resorts in real time. Using these insights, Diamond has identified the following key travel trends 2021:
- Post-Vaccine Demand: Bookings for the winter and spring are up 51% this year compared to Q2 2020 as travelers eagerly plan for post-vaccine travel. As immunizations increase, guest arrivals since mid-February are 17% higher than 2019 arrivals during the same time period. Known for providing its members with exclusive entertainment experiences, Diamond Resorts is also seeing strong demand for live private concerts in late 2021 and early 2022.
- On the Road Again: Drive-to destinations continue to be popular with travelers looking for short getaways. As of March 15, weekend occupancy rates at Diamond's U.S. resorts have returned to pre-COVID-19 levels. More than 85% of Diamond members live within a 300-mile drive to a Diamond Resorts property.
Prior to utilizing Google Cloud machine learning, Diamond's forecasting for availability was a multi-part process over a 28-day horizon. With Machine Learning, Diamond has been able to effectively automate this process and include additional data points to ensure highly accurate, real-time nightly room rates for transient hotel guests, without sacrificing additional margin.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
