Revenue Insight Emerges as World’s Leading Business Intelligence Solution for Hospitality Industry
Recognition achieved as budgeting and forecasting functionalities are added and big brands pile onboard
OTA Insight, the cloud-based data intelligence platform for the hospitality industry, is celebrating a series of milestones that have contributed to one of its leading products, Revenue Insight, becoming the world’s number one business intelligence tool for the hospitality industry.
Unlocking the potential of hoteliers’ PMS data to deliver lightning-fast, actionable insights for better revenue decisions, Revenue Insight has now passed the mark at which it’s averaging an uptake of over 100 new properties per month, a figure that continues to rise.
Jeff Young, Director of Revenue Management Development at Minor Hotels in Thailand, an early adopter of Revenue Insight said that it’s “being used as a dynamic tool in our strategy meetings to help support decisions,” adding it “has enabled us to be more nimble and seize commercial opportunities”.
But the versatile platform, which was first launched late 2018, is racing ahead with rapid adoption in the marketplace. Recent new partners include: Soho House; Belmond Ltd; Hard Rock Hotels & Casinos; Westmont Hospitality Group; RCD Hotels; and Highgate.
The company’s latest partnership is with IHG® (InterContinental Hotels Group). Building on its September 2019 global parity management agreement, IHG has signed up to use Revenue Insight at hundreds of its properties across the globe.
Brian Hicks, Senior Vice President, Americas Commercial and Revenue Management at IHG, said: “The pilot was very positive, so we’re rolling out the product at hotels across a range of our brands around the world. Revenue Insight complements our internal systems, allowing our analysts to draw granular insights and sharpen our strategies.”
Responding to customer feedback, its most recent development, Budget and Forecast, allows users to easily upload their budget and forecast to monitor their performance vs target. Offering unique visualisations, this addition to the interface allows revenue managers and colleagues across other departments to more easily assess whether they’ll reach their target and adjust their strategy where needed.
“We’re really happy with the positive response we’ve received from both our customers and the industry at large to Revenue Insight,” said Sean Fitzpatrick, CEO of OTA Insight. “We’re delighted to see the tool being used in meetings and across teams, breaking down the traditional information and operational silos. We’re just getting started and there’s a lot more innovation to come.”
OTA Insight’s fast-moving success comes on the heels of the company being named one of the UK’s fastest-growing private technology companies in the Sunday Times Hiscox Tech Track 100 last year. The company remains committed to progressing the hospitality industry forward in 2020 by continuing to innovate the marketplace with its award-winning products.