Unleashing the Power of Accurate Data

We sit down with Chris Sutcliffe, Senior Product Manager and Marcin Bazydlo, Head of Insights to delve into the rationale behind Guestline's focus on accurate data and its commitment to empowering hoteliers with the information they need to make informed decisions. 

The discussion revolves around the newly established integration between Guestline and STR, a CoStar Group company, and highlights the benefits it brings to hospitality businesses. This comes as Guestline further enriches the free reporting built into the Platform, Guestline Insights 

Chris Sutcliffe: Absolutely! The Guestline and STR integration is a game-changer for hospitality businesses. It connects two powerful platforms, providing valuable data insights. STR, a leading provider of hotel market analytics, offers a vast database on hotel performance, trends, and benchmarks.

Through this integration, Guestline users gain access to real-time data, empowering them to make well-informed decisions. Accurate market information, competitor analysis, and industry trends help hoteliers understand their market position and identify growth opportunities.

Marcin Bazydło: Guestline Insights, our robust reporting tool, offers valuable property performance snapshot to hoteliers. The integration with STR enhances Guestline Insights by providing Our customers an automated solution for their data submission to STR, which saves them time and access to robust data sets within STR.

Our hotels are already benefiting from a range of reports and analytics, such as revenue analysis, room occupancy rates, booking patterns, and guest preferences, and with an automation to STR, hoteliers can now access data within STR and compare their performance against industry benchmarks, pinpoint areas for improvement, and make data-driven decisions to optimise revenue and operations.

This integration deepens Guestline Insights, empowering hoteliers with access to a comprehensive understanding of their market, trend identification, and performance benchmarking.

Chris Sutcliffe: There are many ways the integration of Guestline and STR can help. Here are some of them:

Comprehensive market data access: Guestline automates with STR, providing businesses access to extensive market data beyond internal metrics. This broader perspective allows hoteliers to better understand competitor comparisons, occupancy rates, pricing strategies, and overall market trends. This information enables data-driven decision-making based on a comprehensive market view.

Competitive analysis and benchmarking: By accessing STR data, businesses can analyse and benchmark against the average of similar properties in their market. They gain insights into how the competitive marketplace responds to external events or market conditions. This knowledge highlights areas for improvement and informs strategy adjustments.

Adapting to market dynamics: Leveraging STR data, businesses can understand how external events impact the competition and the market. This information aids in real-time adjustments to pricing and promotional strategies, maximizing revenue during such events.

Accurate and timely reporting: STR data provides accurate and timely reports on market performance. This allows businesses to track their own performance against market trends, spot emerging patterns, and make proactive adjustments to their strategies.

In summary, with this integration we help hotel businesses to overcome challenges associated with relying solely on internal data.

Marcin Bazydlo: The connection between Guestline and STR is a game-changer for our customers. It turbocharges their revenue optimisation efforts and provides a competitive advantage. It saves a lot of time, what is especially important in the situation, when hotels face staffing challenges.

Manual data entry is eliminated, saving resources, and ensuring accuracy. The automation guarantees flawless data transmission, enabling reliable insights from STR's analysis. This integration is a no-brainer for smarter decision-making, increased revenue, and market leadership. Don't miss out on revolutionizing your business with Guestline and STR. The future of hospitality awaits you!

Chris Sutcliffe: As STR is a specialised data and analytics company for hospitality, they collect and analyse extensive set of hotel KPI’s. Here's a short overview of the most important areas covered and why they matter:

Benchmarking: STR empowers businesses to compare their performance against the competition and the overall market, identifying strengths, weaknesses, and improvement strategies.

Market trend identification: STR tracks factors impacting the industry, like events and economic indicators. Businesses can anticipate demand changes, adjust pricing, and optimise revenue management.

Forecasting and planning: STR's historical data and trend analysis enable accurate forecasts and effective business plans. Demand patterns, peak seasons, and resource allocation can be optimised for maximum revenue.

Investment decisions: STR data offers insights into market conditions, supply-demand dynamics, and performance of existing properties. Businesses can make informed investment decisions and mitigate risks.

Competitive analysis: STR data helps analyse the performance of the competition, positioning, and pricing strategies. Businesses identify differentiation opportunities, competitive advantages, and growth potential. In summary, market data and trends are crucial for understanding performance, making informed decisions, and staying competitive in the hospitality industry. STR's comprehensive data and analytics services empower businesses to drive growth and profitability in a dynamic market.

Chris Sutcliffe: Of course, here are the most important benefits:

Instant insights: Guestline provides user-friendly reports, offering quick access to important information. This allows owners and managers to grasp their property's performance promptly and make informed decisions.

Holistic performance view: Reports cover occupancy, revenue, guest demographics, booking trends, and more. This comprehensive understanding helps identify strengths, weaknesses, and areas for improvement.

Advanced analysis: Guestline offers tools for detailed analysis, granting revenue managers and analysts access to granular data and custom reports. By delving deeper, businesses uncover valuable insights for strategic decision-making.

Tailored connections: Guestline provides customized solutions through bespoke connections and integrations, addressing unique business requirements. Integrating with other systems and data sources yields accurate information, enabling deeper insights and informed decisions.

Overall, Guestline's reporting empowers businesses with easy access to insights, comprehensive performance understanding, advanced analysis, and tailored solutions. These drives informed decision-making, optimizing operations, enhancing guest experiences, and boosting profitability.

Marcin Bazydlo: Guestline ensures data accuracy and reliability through various measures. Here's how we do it:

Data Validation: Guestline's QA team validates data by collaborating with customers. Regular checks are performed to ensure accuracy and integrity.

Systematic Testing: Extensive testing of reporting tools helps identify and fix potential issues, ensuring reliable data generation.

Customer Support: Guestline's support team promptly resolves data-related issues, providing guidance for accurate reporting.

Regarding data security, Guestline takes it seriously and implements following measures:

PCI Compliance: Guestline complies with PCI DSS, securing payment card data following industry standards.

Encryption: Sensitive data, like customer information and financial transactions, is protected through encryption during transmission and storage.

Secure Infrastructure: Guestline partners with reputable providers like Microsoft, ensuring robust security protocols for customer data.

Access Controls: Robust mechanisms, including role-based access, strong passwords, and multi-factor authentication, prevent unauthorised access.

Audits and Assessments: Regular security audits and assessments identify and address vulnerabilities, maintaining data security.

Chris Sutcliffe: These events will be a perfect opportunity for Guestline customers to get a broader industry perspective, compare performance to benchmarks, understand trends, and identify growth opportunities. We will also dedicate some time to elaborate on the best ways hoteliers can utilize hotel-level data available within Guestline Insights: occupancy rates, RevPAR, ADR, and other key metrics, enabling evaluation of strategies, identifying areas for improvement, and making data-driven decisions.

This webinar series will shed light on the unique capabilities of both Guestline and STR, showcasing how they complement each other. While STR will focus on a high-level view and comparative analysis, Guestline will stress the importance of a deeper understanding of individual performance through its detailed reporting features.