Atomize Predictions 2021

The truth of the future lies in the data – Pricing hotel rooms 2021

Alexandra Fjällman

 

As we approach the end of 2020, we reflect of the year that has passed and shift our focus to 2021. The year of raised difficulties for hotels in pricing hotel rooms.

This year has definitely been a very challenging one for the hospitality industry. At the same time, through the adversity, we have seen the industry reveal its true values. Values like empathy, warmth, and willingness to help each other, have been imperative in helping all of us through the tough times  – making hospitality the most resilient industry during the crisis.

Even though there is still some uncertainty ahead and the future bookings remain well below historical trends  – we can see positive signs on the horizon. Vaccines have started to be rolled out and confidence is growing that a new beginning is around the corner.

In fact, as we assess the forward-looking data provided by OTA Insight – the data confirms this picture. More and more people have started to search and plan for their first trip since the inception of Covid-19 and as someone said at a conference somewhere….

“Without data, you are just another person with an opinion!”

This quote says a lot of things. In particular, it encapsulates what Atomize is all about. At Atomize, we believe that data is the source of truth, the future of revenue management and will be the foundation and driving force behind digital transformation in the hospitality industry going forward. We can not afford to continue betting our future on how things used to be, our best guess, or gut feeling – the truth of the future lies in the data. To harness the full power of data requires us to better understand and comprehend the true path of “data value chain”, where each individual component is essential to maximize its impact on your hotel operation.

At Atomize we have a clear picture of this value chain and that is why we keep stressing that “execution” in terms of pricing automation can only be achieved if the remaining parts of “data value chain” are clean, organized and well understood. Having said this, we have many clients that have already understood and harnessed their data value chain, including automated execution – and we can see that they are the ones achieving the greatest business gains.

Why is this important? Because this is what I personally believe the year 2021 will be all about – those understanding and incorporating this will leapfrog their competitors by maximizing yield and lowering their costs in pricing hotel rooms.

Enough about that for now. As we now are closing in on the holidays, I want to extend our warmest and sincere wishes to all of you for a better and safer year ahead.

On behalf of everyone at Atomize…

Merry Christmas and a Happy New Year!

Best Regards,

Alexander Edström, CEO, Atomize

 

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