How the President Hotel uses Rate Insight and Market Insight to be more strategic and competitive

REVENUE MANAGEMENT

How the President Hotel uses Rate Insight and Market Insight to be more strategic and competitive

The President Hotel leverages Lighthouse's Rate Insight and Market Insight to stay competitive in Cape Town's dynamic hospitality market. By utilizing market intelligence tools, the hotel has enhanced its pricing strategies and gained a deeper understanding of future demand.

Why it matters: In a highly competitive market like Cape Town, it’s crucial for hotels to adapt their strategies based on real-time market conditions. The President Hotel needed tools to ensure they were pricing competitively and anticipating shifts in demand.

The President Hotel used Lighthouse’s Rate Insight and Market Insight to gain a clearer picture of competitor pricing and future market demand. These tools allowed them to make quick, informed decisions, driving improved revenue and operational efficiency.

Top 3 Core Objectives: The President Hotel aimed to optimize its pricing strategies and improve its market positioning by gaining more accurate, real-time data on competitor pricing and future demand trends.

Optimize Pricing Strategy: The hotel wanted to achieve more dynamic and competitive pricing by accessing reliable, real-time competitor rate data, allowing them to react quickly to market shifts.
Enhance Market Forecasting: They sought to gain a deeper understanding of market demand, using forward-looking data to anticipate guest trends and strategically adjust pricing ahead of their competitors.
Improve Decision-Making: The hotel aimed to streamline its decision-making process by replacing their previous rate shopper with a tool that provided accurate and easy-to-interpret data.

Innovators Mentioned

the President Hotel

Lighthouse

Corné Serfontein

Deputy Commercial Manager

the President Hotel

""If it wasn't for the Lighthouse tools, it would have been far more difficult to understand the shifts in the market and be as dynamic with our strategy as we are. The information Lighthouse gives you is so clear and easy to understand, making it much easier to decide on pricing and offers.""

Corné Serfontein

Deputy Commercial Manager

👍 Deputy Commercial Manager Corné Serfontein said that Gaining clear and actionable market data was crucial for the President Hotel to remain competitive and agile in their strategy.:

""If it wasn't for the Lighthouse tools, it would have been far more difficult to understand the shifts in the market and be as dynamic with our strategy as we are. The information Lighthouse gives you is so clear and easy to understand, making it much easier to decide on pricing and offers.""

⚖️ The selection process: During their research process, Corné Serfontein evaluated Lighthouse's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that Lighthouse was the best fit solution:

Deputy Commercial Manager Corné Serfontein said, about their decision: ""Moving over to Lighthouse, we had much more accurate, competitive, and dynamic rates than we previously had. It made a massive, massive, massive difference.""

📈 The results: The President Hotel successfully implemented Lighthouse’s Rate Insight and Market Insight, leading to more dynamic and competitive pricing, improved market forecasting, and faster, data-driven decision-making

Achieved dynamic and competitive pricing in a highly competitive market, resulting in the hotel being better positioned against competitors for the next 365 days
Gained real-time, granular data on market shifts and demand trends, allowing them to target high-demand markets like Turkey and the Netherlands
Improved decision-making processes with easy-to-read insights, reducing the time required to make strategic pricing changes