Global Market Insight: OTA Insight Guest Blog Post

As vaccine programs and new COVID-19 variants continue to impact global travel, unpredictable and inconsistent fluctuations in demand mean that hoteliers can no longer rely on traditional forecasting methods and historical analysis. This makes it difficult to generate the critical insights needed for qualified decision making in the face of heightened competition. During such an uncertain time, however, data is a hotelier’s most trusted ally.
Forward-looking data, one of the most innovative methods for gathering market insights, is rapidly emerging as a popular method to support strategic decision-making. In an effort to overcome the challenges presented by the pandemic and assist hotelier recovery efforts, OTA Insight has launched Global Market Insight.

This industry-first tool is a free-to-use, interactive demand heatmap of over 300 destinations worldwide, which is accessible via the OTA Insight website and serves as a new industry benchmark to track worldwide recovery for the hotel and travel industries.

The power of forward looking data

Global Market Insight is powered by the predictive intelligence solution, Market Insight, which uses AI-technology to tap into millions of top-of-funnel search and pricing data sources including: OTAs, GDSs, flight data, Metasearch, direct booking guest data, travel query volumes, and more.

By drawing from the industry’s most accurate, complete and reliable data, Global Market Insight is able to deliver location-specific, segmented demand insights. Providing a detailed picture of demand for numerous destinations around the world and giving hoteliers a valuable glimpse into the first signs of demand in a shifting market.

Remarkably, this level of data and insight is being supplied free of charge to support the hotel industry and any wider industries which may benefit from it. With a travel rebound hopefully on the horizon, hoteliers can put this tool to use and accurately track and forecast the return of traveler demand. Not only when recovery is coming to their market but also more granular insights in terms of feeder markets, lead times and seasonal patterns – which can enable hoteliers to adjust their strategies and forecasts accordingly.

Accelerate growth in recovery with Global Market Insight

The Demand Outlook panel in Global Market Insight gives hoteliers instant access to an overview of demand trends in their market. This provides key insights into the time frames that are driving recovery, the percentage of hotels they are competing against, the share of domestic and international demand in the market and where this demand is coming from.

Equipped with this crucial information, hoteliers can make more informed decisions on a range of topics facing them in recovery. Management can make more qualified decisions when budgeting and forecasting, and on the return and recruitment of staff; marketing and ecommerce can decide how best to drive potential guests to their website, and the revenue team can make more accurate adjustments in room pricing strategies.

The Recovery Trends panel allows users to track global recovery efforts for a six-month period. This feature lets hoteliers assess how market conditions have changed over time, enabling them to make informed predictions on industry-wide recovery, and analyze the effect of variables like vaccine rollouts, lockdowns and new travel regulations.

The best asset in navigating recovery and driving growth is accurate, reliable and actionable data. Global Market Insight is unique, the industry’s only tool that delivers such high quality data and actionable insights for free, on an easy-to-use and accessible platform. While there is no playbook for the year ahead, you should begin by taking advantage of this industry-leading data tool, which gives hoteliers the ability to uncover emerging opportunities and prepare correctly to take advantage of any upsurge in demand as markets continue in recovery.