Price and booking monitor

Patricio Hetfleisch: It should have been clear to all tourism professionals for years that the country's tourism statistics need to be brought up to date. Looking in the rear-view mirror provides orientation based on data - but only with a delay (at least three weeks), focused on arrivals and overnight stays and without any added value dimension. Whenever up-to-date data is urgently required for decisions or prices are needed to better balance supply and demand, the need becomes tangible. In recent years, there has always been an acute need for data - e.g. in crisis situations (pandemic, exceptional weather-related situations) - or with regard to value creation and tourism acceptance, the question of new key figures to assess the success of the industry beyond record overnight stays.

Patricio Hetfleisch: The use cases are many and varied. Initially, however, we are concentrating primarily on TVBs and businesses. We offer two different tools for this. "Destination Insights" offers TVBs the opportunity to use price and demand data not only to compare the current situation with the past (e.g. this year's Christmas week with last year), but above all to take a look into the future. Based on the forecasts (up to one year in advance), marketing measures can be adapted, strengthened or reduced. Event scheduling as an incentive for bookings can be decided on the basis of data. In addition, occupancy indicators and data on actual room rates show how healthy the destination is developing and what differences there are in the various bed categories. All of this provides a good basis of information that can be used to further develop destinations. Incidentally, this data can also be useful for the state of Tyrol, transport planning, resource planning for emergency services, etc. But as I said, the first focus is on the direct tourism stakeholders. The businesses are provided with a tool that enables them for the first time to benchmark their own business against businesses in the association area or with businesses in other TVBs in order to be better equipped for important decisions (pricing, investment planning, etc.). For the businesses, it is a business intelligence tool and a preliminary stage to real yield and revenue management - in other words, a contribution to professionalization in this area.

Patricio Hetfleisch: The system was developed together with HQ Revenue, a company that has set the benchmark for data in German-speaking countries and has been able to establish an excellent reputation and positioning in the market. HQ has now become part of Lighthouse, a company that is globally active and a leader in the same business segment. This opens up great opportunities and possibilities for the further development of the systems for TW. After all, the basis for good business decisions is not one's own data but the relationships with others. Only through comparison can better decisions be made in line with the market.