Category: Hospitality

 

XML Errors | Cause of 20% of Lost Searches and almost nobody is noticing

Triometric, a leader in XML analytics, has accumulated customer data that shows that, on average, almost 20% of all XML search requests made by hotel channel partners (e.g. price and availability requests from online travel agencies, B2B hotel intermediaries, etc.) fail due to easily-addressable or preventable errors, such as XML errors, network, sever or response time issues, or unrecognised elements…Read More

Bed Banks and Wholesalers — 5 Insights To Optimise their Business

Hotel distribution is a complex business with an intricate web of connections linking hotel suppliers to hotel distributors which includes bed banks, wholesalers, hotel switches, online travel companies, metasearch engines as well as the big Global Distribution Systems (GDSs).  Selling travel is very competitive and hoteliers need to supplement their direct sales channels (i.e. brand.com and call centres) with a number…Read More

Hotel Distribution Analytics – Made Accessible for the Smaller Budget

There is a new 'as a Service' on the scene to help online travel companies simplify technology and get the most out of their mountain of search and booking data. Analytics as a Service (AaaS), at its simplest refers to the practise of using Web-based technologies to carry out analysis of large-scale data, opposed to the traditional method of developing…Read More

Look to Book is Out, Revenue Per Search is In

Online travel is bigger than ever. There are some 148.3 million travel bookings¹ made on the internet each year worth US $524 billion². Travel shoppers do not book the first thing they see, they enjoy their ability to search a number of travel options via a number of different devices before they make a booking. This boosts look to book…Read More

Hotel Room Distribution: Have You Got The Full Picture?

Already an intricate web of online and offline sales channels, the hotel room distribution landscape has only become more complex as the fragile boundaries between many of these channels have started to blur. Until quite recently, concepts such as “business” and “leisure” could still be counted upon to bring some order – and differentiated pricing, availability and product strategies –…Read More

Online Hotel Booking Behaviour

Today the travel supply chain has become highly fragmented, crowded and complex with suppliers of hotel rooms, airline seats, tour packages and cars existing alongside intermediaries. Many of these intermediaries exist to offer travel product suppliers another and sometimes faster route to the end consumers. OTAs, GDSs, B2B Accommodation Wholesalers, Metasearch price comparison sites, branded dotcoms – all are part…Read More

Is Metasearch to Blame for Hospitality’s 5-Digit Look to Book?

The Look to Book ratio is a figure used in the travel industry that shows the percentage of the number of requests to your booking engine per reservation made. This ratio is important to online travel vendors for determining the ROI of their investment strategies to secure those all-important conversions. Back in the good old days, perhaps five years ago,…Read More

Mobile Apps for Travel: The Analytical Challenge in this Growing Channel

The use of mobile apps to search and book in the online travel space has grown dramatically over the last five years – from around 2-3% to over 25%. Indeed according to e-marketer, online travel is reaching a tipping point in 2016 when, for the first time, more than half of all online bookings for U.S. travellers will be completed…Read More

Margin Management Matters in Travel Product Selling

Hotel distribution is complex and margin management is vital. It’s complex because hoteliers need to get the word out as far and wide as possible about their available inventory – before the opportunity to make money out of it perishes, literally. Waiting for people to visit brand.com is one option, but in today’s global competitive market there is a compelling…Read More

Getting More Pie in the Turmoil of Flights, Hotels, Distribution and Mobile

Let’s talk about distribution technologies and how we get the business info we want to help drive decisions. Perhaps focusing mostly on Airlines and Hoteliers, but not excluding the wider travel product market, the supplier organisations in this complex world have multiple classes of channels that they need to manage with an effective way. I think of “classes” as disparate…Read More

What Value is Analytics to the Hotel Distributor?

At Triometric, we often get into discussions about how to use the system and what returns the system can generate. It turns out that  equating the investment in analytics directly to improvements in revenue can be, at least in a “back of the envelope” manner, very simply calculated for a hotel distributor. Let's assume we are an established, mid-sized hotel…Read More

Timeouts – What They Are and How They Hit Your Revenue

In buying and selling travel products there are countless applications, servers and networks talking to each other every day 24/7 to make travel requests, receive responses and offers, do deals (confirm deals or sometimes cancel them) and ensure payments end up in the right place. Basically in the world of Internet travel bookings there are an awful lot of messages…Read More

APIs – The Plumbing of the B2B Travel Industry

The online travel industry is made up of a complex web of distribution channels and networks.  Travel product suppliers such as hotel companies and airlines need to interconnect with aggregators and distributors such as wholesalers, metasearch and GDSs to reach as large an audience as possible for their rooms and seats. Meanwhile suppliers are also becoming distributors not only of…Read More

Real Time Business Analytics Gives a Better Customer Journey

Are your distribution tactics leading to higher customer conversions and lower customer acquisition costs? Every organisation seeks to improve these metrics, but in the world of online travel this could literally be the difference between sink or swim. Put like that, real time business analytics (as opposed to yesterday’s or last week’s results) could be the crucial support buoys that…Read More

Four Pillars of Online Conversion

Our solutions for travel product suppliers and intermediary distributors are built around  'Four Pillars of Online Conversion'. Each pillar a solid foundation for addressing the fundamental need to convert searches into bookings. The high look to book ratio has an impact on system performance, responsiveness and the ability to deliver the right product at the right time. A key objective…Read More

Reading your Data with Intelligence, Part 3 — A closer look at Dashboards

In this 3-part series, we began by discussing why data matters to travel organisations, we went on to summarise the ways that the data that matters can be cleverly visualised  and we conclude with a short appreciation of the dashboard – the window that throws light on the data considered critical for the running the business. The online travel industry is…Read More

Reading Your Data with Intelligence (Part 2) — How to Visualise Data

The first article in this series briefly explains what we mean by business intelligence (BI) and how it can serve travel organisations. This article focuses more on how to analyse and visualise data, especially XML data in the online travel industry, before taking a closer look at the dashboard in the final article. Analysing XML data streams that flow between…Read More

Reading Your Data with Intelligence (Part 1) — Why Data Matters in Travel

We often talk about the power of business intelligence, especially for the travel industry where look to book ratios are soaring, mobile transactions are exploding and the data deluge is overwhelming. It is clear why this data matters in travel. It is the foundation for  online travel companies to structure their customer offerings and distribution channels. Now, intelligent insights from…Read More

The Awesomeness of visualising XML Insights in a BI Dashboard

Online travel business is fast-paced, competitive and swamped in data. XML data and XML insights in particular is what I have in mind. Searching for travel products such as tours, hotels, airlines and cars generates ever increasing look-to book ratios. The more players that participate, the more distribution channels there are for travel suppliers to get their customers from, the more complex…Read More

Metasearch is Better for Travel Suppliers if They Count on the Value of Analytics

The battle to tilt a traveller’s decision in favour of a specific brand - be it for a supplier or an intermediary - continues to get intense. The focus is on identifying a “lead” as soon as it emerges in the digital domain, and that’s where travel meta-search engines are showcasing their prowess. A travel supplier needs to plan astutely…Read More

Travel Meta Search Engines – Threat or Opportunity for Travel Suppliers?

Metasearch as a concept has been around for some time, but more recently it has become the hottest trend in the travel industry and the new battleground for winning consumers between the Online Travel Agencies (OTAs) and travel suppliers. Indeed the topic Travel Meta Search Engines – Threat or Opportunity for Travel Suppliers has aroused some healthy debate at recent conferences, such…Read More

The curious case of online travel – OTA consolidation, Metasearch explosion – Is there consumer choice?

There is much media interest in the consolidation taking place in the competitive online travel industry. The spectacle of bigger companies gobbling up smaller companies to become even bigger, can deliver fascinating analysis and proof points. The giant online travel agencies (OTAs) are examples of unwavering focus on their core business of delivering travel products over the Internet to independent…Read More

Caught in the Big Data Deluge? – What About Mastering Little Data First

Over the past couple of months, Triometric has had the privilege of speaking alongside distinguished industry leaders in two panel sessions discussing the hot topic of Big Data. The first was a Dataart / TNOOZ Panel (29th May) on Personalisation and Big Data and the second a discussion at the HEDNA Spring Conference in Brussels (12th June) entitled Data, Data,…Read More

Shopping Analytics To Understand Hotel Distribution

The Internet has totally transformed the way travel products are bought and sold. The number and variety of channels and the need for speed being two consequences. Many hotel companies are left wondering if they are selling their rooms through the best channels for maximum return. Why? The pricing strategy for inventory and the choice of distribution channel are inextricably…Read More

Push / Pull Models in the Hotel Supply Chain – 4 Key Things you Should Consider

I recently had the pleasure to attend my first HEDNA conference in New Orleans (14-16 January) as a newly enrolled member, and I came away impressed with the welcoming friendliness of other delegates (seemingly the largest gathering for a while). I was also fascinated at the quality of the Connectivity Group’s presentation around the Push / Pull hotel distribution model…Read More

OTAs – Using XML Analytics to Stay Ahead of the Game

The number of online travel bookings being made continues to grow globally unabated. According to PhocusWright, global online travel bookings are set to reach $330 billion by 2014. Even emerging economies such as South East Asia or the BRIC countries are getting in on the act and demonstrating phenomenal take-up of online travel search and bookings. Increasingly online travel is…Read More

Online Hotel Availability

Online Hotel Availability with missed opportunities that eat up profit margins and impact the bottom line is a serious phenomenon for everyone in the travel supply chain. Revenue often slips through cracks unnoticed. The source or quantity can be hard to pinpoint because of a lack of visibility into two key types of data in online hotel availability: Real-time performance…Read More

Travel industry Competing on Value and Innovation Rather Than Pricing

The Travel industry is thirsty to compete on value and innovation rather than on pricing. Will Big Data play a major role in this? Even though countless blogs agree that "Big Data" is widely overrated, the truth is that this phenomenon has re-defined the winners and losers of many other industries. Textbook examples like Target in the US and Tesco…Read More