Leader in guest-centric technology and NYU SPS Jonathan M. Tisch Center of Hospitality unveil results of proprietary report of Attribute-Based Shopping at HITEC 2022
[Orlando, Fla. | Tuesday, June 28] Stayntouch, a global leader in cloud hotel property management systems and guest-centric technology, and the NYU SPS Jonathan M. Tisch Center of Hospitality, today released the results of a study on U.S. traveler sentiments on attribute-based shopping. The report concluded that moving from Traditional Hotel Shopping (THS) to Attribute Based Shopping (ABS) is likely to increase traveler value, price transparency, and satisfaction,— critical for hoteliers’ success in a post-pandemic era characterized by new cost, service and guest satisfaction challenges. The report surveyed more than 1,000 U.S. travelers to better understand their views on booking hotel rooms through a more customized booking process with Attribute-Based Shopping.
Key findings from the study include:
• ABS creates greater transparency – A large majority (85 percent) of survey respondents indicated that booking rooms as they do currently, via THS, creates levels of uncertainty that the rooms delivered will contain the features most important to them. Nearly a quarter of respondents also believe that Attribute-Based Shopping will improve price transparency when booking a guest room, while 21 percent indicated it can improve the clarity of guest room descriptions.
• ABS builds value – More than 60 percent of travelers find value in the ability to customize a guest room via ABS. A large portion (63 percent) of travelers who pay $251 or more per night, as well as 48 percent of those who pay between $151 and $250 per night, are willing to pay more for preferred room features with ABS.
• ABS and Guest Personalization – Respondents overwhelmingly indicated that ABS would improve personalization, with 78 percent saying it would “provide features tailored to my preferences,” and 75 percent indicating that a room booked via ABS would likely “be designed specifically for my needs.” A further 56 percent of respondents indicated it would be a convenient way to ensure their most desired amenities and room elements are available and factored into their booking.
“We’re pleased to share the results of this report with the industry, in partnership with NYU SPS Tisch Center,” said Michael Heflin, chief revenue officer at Stayntouch. “We believe it is path-breaking in many respects, not least because it establishes a definitive link between traveler preferences and the move toward Attribute-Based Shopping, which has been high on the agenda of hotel industry leaders for at least ten years. With this validation, Stayntouch looks forward to continuing to spearhead innovation to bring true ABS closer to reality.”
“We are proud to stand alongside Stayntouch in showcasing the results of our collaborative report on traveler sentiment into Attribute-Based Shopping, a technology that will transform the booking process for the better,” said Vanja Bogicevic, a clinical assistant professor at the Tisch Center and the director of the
HI Hub Experiential Learning Lab. “Here at HITEC Orlando, we are excited to discuss the findings of the study, in addition to the ways ABS is continuing to revolutionize hospitality.”
Further detail on the report’s findings can be accessed by visiting this link and by attending a special briefing on the report at HITEC 2022. The session, titled “The Future of Booking: Presenting Traveler Sentiments on Attribute-Based Shopping”, will discuss insights from the study authored by Vanja Bogicevic, PhD; Owen Wexman; and Justin DeRise, and examine how emerging technologies will influence the future of the hotel booking experience and guest personalization. Speakers at the panel will include Carolyn Fredey, Tisch Center adjunct professor & area director, revenue management advisory services for Marriott International; Michael Heflin, chief revenue officer at Stayntouch; Klaus Kohlmayr, chief evangelist & development officer at IDeaS; and Safet Dokara, director of operations at the Valencia Hotel Group.