Leverage data analytics to drive efficiencies, says panel
Operators need to get to grips with their data to be more efficient and drive better value for customers, a panel at the HOSPACE event in London said this week.
UKHospitality chief executive Kate Nicholls said: "You need data to make informed decisions. Technology isn't the solution, data is the solution."
Nicholls said it was important for operators to analyse data in their businesses in order to deliver the best guest experience which would keep consumers coming back.
"You need to automate the mundane to free up your team to deliver the experience, which is, quite frankly, what the guest is paying for."
Also speaking on the panel, Andrew Stembridge, executive director at Iconic Luxury Hotels, said operators should look to the chain brands who already use data to operate more efficiently.
"The drive to maintain margin is making us look under every stone," he said, noting how data is helping Iconic Luxury Hotels make the right business decisions, pointing to the information the hotels gain from digital bookings, which allows properties to book in guests for spa treatments or restaurant reservations.
"But take the Mayfair Townhouse in London – we have a bar and offer breakfast, but in a city where there's around 200 restaurants in Mayfair, why should we try and compete?" he questioned. "The wrong thing to do is to run away from it. Bring on those efficiencies."
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