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Jordan Hollander
CEO @ Hotel Tech Report
Jordan is the co-founder of Hotel Tech Report, the hotel industry's app store where millions of professionals discover tech tools to transform their businesses. He was previously on the Global Partnerships team at Starwood Hotels & Resorts. Prior to his work with SPG, Jordan was Director of Business Development at MWT Hospitality and an equity analyst at Wells Capital Management. Jordan received his MBA from Northwestern’s Kellogg School of Management where he was a Zell Global Entrepreneurship Scholar and a Pritzker Group Venture Fellow.
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Choosing the right Business Intelligence for your hotel depends on several variables some of which come down to personal preference but most of which come down to the characteristics of your property. Is your hotel a small property with limited budget? Or is your property a luxury resort with lots of outlets and high ADR? Below are HTR’s defined key personas based on common property characteristics that typically indicate similar product choices.
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The five stages of business intelligence in the hospitality industry are essential for hoteliers looking to leverage business intelligence solutions to enhance hotel performance and profitability. These stages ensure that hotel business intelligence solutions provide actionable insights and support data-driven decision-making.
1. Data Collection & Integration The first stage involves gathering hotel data from multiple sources, such as PMS, POS, OTAs, channel manager, and rate shopping tools. Effective data management ensures that relevant data sets are centralized, eliminating reliance on spreadsheets and manual Excel reports. Hotel business intelligence software integrates data to create a unified view of hotel operations.
2. Data Processing & Analysis Once data is collected, business intelligence tools process historical data, real-time data, and market trends to generate valuable metrics such as occupancy, ADR (average daily rate), RevPAR, and total revenue. Advanced BI solutions help streamline data analysis, transforming raw data into visualization and dashboards for easy interpretation.
3. Performance Monitoring & Benchmarking In this stage, hotel management teams use BI tools to track KPIs and compare hotel performance against competitors through benchmarking. Dashboards provide real-time updates on business performance, helping hoteliers monitor their marketing campaigns, dynamic pricing, and pricing strategies to optimize profitability.
4. Forecasting & Strategic Decision-Making Using demand forecasting, business intelligence solutions help hoteliers make informed decisions about budgeting, revenue management, and market trends. A well-implemented revenue management system (RMS) leverages real-time data to improve pricing strategies and increase operational efficiency.
5. Optimization & Actionable Insights The final stage focuses on using business intelligence solutions to optimize hotel operations, enhance guest experiences, and drive better business decisions. By leveraging business intelligence tools, hotels can maximize revenue management, improve strategic decisions, and enhance property management system (PMS) functionality for better decisions.
Through these five stages, hotel business intelligence solutions enable hoteliers to transition from relying on spreadsheets to utilizing advanced BI solutions that empower data-driven decisions and drive long-term profitability.
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