The initial release of the predictive market intelligence project will incorporate data from two of OTA Insight’s products: Market Insight and Rate Insight+.
MADRID – BEONx, leading provider of revenue management solutions, has announced a partnership with OTA Insight, the global leader in cloud-based hospitality business intelligence. This collaboration will bring predictive market intelligence to BEONx’s Sustainable Profit Platform, marking the first time hotels can seamlessly integrate this crucial data from different providers into their strategic platform.
With the latest integration of OTA Insight data, this will be the first instance of a RMS integrating this form of data from multiple providers into its algorithm, furthering the BEONx position as market leader.
The initial release of the predictive market intelligence project will incorporate data from two of OTA Insight’s products: Market Insight and Rate Insight+. These new data points will be displayed across the BEONx platform offering hoteliers valuable insights into their hotel’s performance, competitive landscape, and destination. Additionally, this data will impact the strategy recommendations generated by BEONx.
By incorporating Market Insight into BEONx platform, users will be able to anticipate future market behaviour, predicting demand before it materialises. Real-time market heat maps and segmented data by sub-location, stay pattern, and accommodation type will be available at their fingertips. Market Insight also empowers hotels to monitor their competition effectively with OTA Insight’s Smart compset feature, providing instant alerts for market opportunities and cross-departmental data insights through the market demand outlook.
Meanwhile Rate Insight+ offers hotels total visibility into short-term rental and hotel data to capture their full competitive landscape and maximise revenue opportunities. With this product, hotels can get a holistic overview of the short-term rental market in the geo-location surrounding their property and capture KPIs to better understand scale, occupancy, and rates relative to their hotel.
Rate Insight+ streamlines decision-making by consolidating all necessary hotel and short-term rental data into one user-friendly tool. This integration allows hotels to identify demand changes before their competitors and take action based on data across their competitive landscape.
“We’re excited to offer our customers the ability to incorporate OTA Insight’s predictive market intelligence into their revenue management strategies. Hotels can now select, based on their product and destination, the demand data that best suits their needs. This will increase the accuracy of recommendations, forecasts, and optimisation strategies”, said Rubén Sánchez, CEO and Cofounder at BEONx. “Our efforts to provide our users with the most comprehensive and actionable insights are just beginning.”
“By integrating our cutting-edge products, Market Insight and Rate Insight+ with BEONx’s Sustainable Profit Platform, we are changing the way hotels approach revenue management”, said Sean Fitzpatrick, CEO at OTA Insight. “Together, we are committed to enhancing the strategic decision-making capabilities for hoteliers, ensuring they remain competitive and agile in an ever-changing market.”
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.
