ForwardKeys for Hotel is designed to help revenue managers and hotel marketers better understand and anticipate market demand and trends, allowing hotels to adjust commercial, pricing strategy and promotion practices ahead of competition to improve business performance.
Unconstrained demand to your marketData science sometime goes with intuition. We have proven in multiple instances that there is a strong correlation between inbound travellers “overnights” (arrivals + length of stay) and official hotel occupancy ratio. By the same token, there is a correlation between travellers arrivals and check-ins. That is why ForwardKeys' aggregate of global Air reservation is the best proxy to traveller trends and demand ever built to date.
ForwardKeys allows you to measure how demands builds up for your destination, down to the day and per traveller profile, and anticipate occupancy.
Air pickup precedes hotel pickupForwardKeys' on the book and projection data allows hoteliers to monitor pickup for any day or week in the future, and check how arrivals and nights compare to previous years up to 3 month down the road. ForwardKeys' unique interface allows checking visually and at a glance which source market is driving demand or losing steam for the specific period.
Air reservation pickup reveals travellers that converted intention to travel into a reservation (and not yet a ticket) and the parameters of that trip: arrival day, lengths of stay, number of travellers per booking, segment (business, leisure, groups….). Studies show that bookers start with Air reservation before making a hotel reservations.
Weeks year over year are not equalDemand varies year over year – specifically when you address the leisure segment – and ForwardKeys allows anticipating that demand. While developing our projections and forecasting algorithm, we certainly recognized that this demand largely depends on multiple factors including macro-economic indicators, currency exchange, Air fare, etc... But ahead of all are events – from school holidays to acts or Gods or sport events. ForwardKeys has put in place a database of worldwide events that overlay our daily trends. The benefit? To understand at a glance and visually what are the reasons behind a peak (for example, a specific peak of traffic originated from Brazil is due to a non-recurring bank holiday...).
Promotion dateSeasonality is a key information to consider when promoting your property and your destination. But ForwardKeys goes much beyond that. Our unique reservation database allows to monitor how any source market is currently booking your destination and how that compares to previous year. Our pickup “maturity” and "investment window" index helps to make quick promotion investment decisions.
Big DataForwardKeys unique DNA combining IT and BI skills – with world class IT experts and accomplished analysts – gives us the power to constantly improve our processes to get our data and your data to speak.
ForwardKeys can process traveller trends in multiple ways, from simple arrivals to a “destination load factor”, or even hotel occupancy. And that works for your data as well: we can process your information at shop, chain or destination level. Let us help you to forecast who will be visiting your shop!
BackgroundThe ForwardKeys database is the best proxy to traveller trends and demand ever built.