New York Hotels Turn to nSight to Grow RevPAR Amidst Market Challenges
March 16, 2016 7:18am
Twenty NYC hoteliers use predictive consumer data to grow rate and market smarter
NASHVILLE, TN (March 16, 2016) nSight, the leader in online consumer shopping intelligence for hotels and destinations, has added twenty new hotel clients in New York City. Both brand and independent hotels are battling rate and margin pressure based on slowed international travel, the growth of alternative accommodations like Airbnb, and increasing supply growth, particularly in boutique and limited mid-service hotels. By using forward-looking shopping data to make smarter revenue strategy and targeting decisions, NYC hotels apply dynamic pricing to grow direct bookings and RevPAR.
Since early 2015, New York City hotels have posted below average RevPAR growth. Implementation of predictive data from nSight reflects the industry’s move from traditional “inward looking” tools to a more outward-focused, integrated revenue and marketing strategy solutions.
“nSight does more than tell us competitor room rates,” explained Grant Schilling, Vice President of Sales, Marketing, and Business Development at the Distrik Hotel Group, featuring the garment district’s first boutique hotel. “nSight gives us the ability to see guest demand across the web and how our rate impacts consumer behavior. Now, we have real data that shows us when and what consumers we can target to boost direct bookings and optimize rate. This demand-driven dynamic pricing helps us increase ADR, grow margin, and shift share from OTAs.”
Schilling also attributes nSight data for helping them target the right NYC guests in digital marketing by understanding the top source markets and demographic profiles for NYC-bound guests 30/60/90 days into the future.
New York City hoteliers’ view of forward-looking consumer demand powers a consumer-driven pricing strategy that allows them to increase profitability based on the following advantages:
“We’ve used a lot of data products and forecasting tools, but they don’t do for us what nSight does,” said, Louise Gallagher, Director of Revenue Management for Hotel Pennsylvania, a 1700+-room institution for transient leisure visitors to New York. “nSight shows us the consumer behavior response to our rates compared to our competitors. We can make real-time changes that have a positive revenue impact for the week, the month and the quarter. Since signing on this month, we’re just learning the power nSight gives us in the highly competitive New York market.”
Featured New York City hotels using nSight travel intelligence solutions include:
“New York City hotels are embracing a critical industry shift,” said Rich Maradik, nSight Founder. “Hotels need to act differently in this new multi-faceted competitive environment and that means not just dropping rate to win market share. That old approach is a fast track to declining profitability. New York hotels are innovating how they price and market because they have to. Doing things the same way is not producing RevPAR growth -- ownership groups, in particular, are seeking a new path to profit growth in one of the world’s premier destinations.”
nSight’s Hotel Solutions consist of the nSight interactive SaaS application and action-oriented reporting that brings search, booking, and rate dynamics into one forward-looking view so marketing and revenue management can act together. nSight equips hoteliers with predictive data that gives a clear picture of who and where consumers are who are shopping right now for a hotel and its competitive set, allowing properties to boost online presence and grow direct bookings from active, qualified consumers.
consumer shopping intelligence,
revenue strategy and targeting,
nSight combines the world’s largest view of consumer shopping data with predictive marketing and revenue management solutions to deliver more guests to your hotel and visitors to your destination. Only nSight aggregates more than 85 million travel consumer shops and bookings daily across over 5,000 third-party travel websites. Understanding consumer shopping behavior, rate impact and future market demand enables better marketing and revenue management decisions. Follow nSight on Twitter, Facebook and LinkedIn.
Contact: Katrina Pruitt-Andrews,
Vice President of Marketing
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