Analyze your website traffic in relation to hotels in your compset. Look to hotel review sites like TripAdvisor or Trivago to see where you rank against your competitors. Part II, Global Hotel Technology Leader SiteMinder Opens Berlin Office To Unlock Continental Europe, HelloShift Achieves Level III Global Support Certification, Atomize Achieves Level I Global Support Certification, Oaky and Cloudbeds Launch Two-Way Integration, IDeaS and Silverbyte Partner to Provide Two-Way Data Integration, SiteMinder: Top Hotel Booking Revenue Makers of 2019 Show No stopping of Direct Channel, Key Players, SuitePad is Helping Hotels Save Costs and the Environment With Their Green Option, HKeeper Product Tour: Time To Become Mobile, Dr. Ravi Mehrotra Founder and Chief Scientist, IDeaS to Be Showcased in ‘Under the Spotlight’ at Opportunity 2020, Cendyn appoints new sales leadership for EMEA & Americas, To Serve Guests You Need to Understand Them, HKeeper Product Tour: The Task Management Module’s Features, SiteMinder-Backed Research Reveals an Increasingly Tech-Savvy Independent Hotelier on the Rise, INTELITY and Mews PMS Unite to Provide Powerful Property Management Capabilities, Remarkable Hotels Sees 19 Percent Uplift in Rooms Revenue with IDeaS Revenue Management System, Revenue Insight Emerges as World’s Leading Business Intelligence Solution for Hospitality Industry, WebRezPro Integrates Hotelitix Revenue Management Solution, SiteMinder Breaks Through Billion-Dollar Valuation, Raises New Capital to Fuel Global Growth, Power Up Hotel Communications via HKeeper ‘Logbook’, Reducing Friction in Hotel Guest Service: If the data shows your property is behind the compset on occupancy, for example, you might want to consider using a metasearch management software to maximize reach on metasearch websites and increase occupancy moving forward. Analysis should begin with a deep dive into goals, competencies and historical performance. When all areas have been plotted and identified, you will be in a much better position to plan your future. Everyone has weaknesses. This could include your stellar employees, your brand reputation, or your hotel’s location. Brainstorming was used during the SWOT session to gather data for the company’s strengths, weaknesses, opportunities and threats. What external factors can you take advantage of? Revenue per Available Room (RevPAR), Average Daily Rate (ADR) and Occupancy. To carry out a SWOT analysis for your business, summarize the strengths, weaknesses,opportunities and threats of your business relative to competitors. Is Your Hotel Budgeting for Voice Technology? HITEC19 became the first big step for HKeeper into the World of Hotel Tech! Please share with others in the Comments field below. If your hotel’s web traffic is below average, you’ll need to improve this metric. A SWOT analysis is a simple, yet highly effective method for conducting an analysis on a business, product or service. The first step is to reflect on what you do really well. When done, all of the information was posted on the walls under the appropriate heading (e.g. Instead of simply throwing money at the problem, invest with a vendor who can pinpoint exactly where you need to improve. A SWOT analysis is a simple, yet highly effective method for conducting an analysis on a business, product or service. Before you try writing a business growth or marketing plan, it is highly recommended that you first complete a SWOT analysis. Your thoughts? Use your SWOT analysis to get a snapshot of your hotel’s strengths and weaknesses before investing in software that helps you mitigate risk or capitalize on market opportunities. Duetto Launches Free Market Demand Report For Hoteliers, IDeaS Awards 2020 Cornell Revenue Management Scholarships, Nor1 Brings Advanced Machine Learning Upsell Technology to ITB Berlin 2020, WebRezPro Enhances Guest Service Delivery with ALICE Integration, Future Hoteliers Help Design Infor Mobile Pricing App, IDeaS Provides Ongoing Client Support and Hotel Industry Guidance During COVID-19 Crisis with New Podcast and Webinar Series, HAPI Teams Up with Volara to Personalize Voice-Based Guest Engagement with Hotel PMS Data, How Digital Technologies Are Shaping Relationships Between Hotel Guests and Personnel, TPG Hotels & Resorts Selects Infor Hospitality to Standardize Processes, Revinate Releases Free COVID-19 Resource for Hospitality Industry, Pechanga Resort Casino Drives Automation and Visibility with Infor CloudSuite, Four Seasons Hotel One Dalton Street, Boston Selects ASSA ABLOY to Provide Latest in Security Technology and Customized Door Lock Design, Hotel Tech Company Launches Covid-19 Support Platform, How SuitePad Is Helping Their Customers During The Coronavirus Outbreak. Identify which software categories can help meet your goals then once you know what software you need, identify all the vendors who can help. Learn more about performing a SWOT analysis before reading the case study. Tactics are often based on a reallocation of resources or human capital and the Swiss Army Knife of hotel strategy is technology. File Format. If you find it difficult to be objective, ask someone you trust for his or her feedback on your perceived weaknesses. All progress starts with a foundation of self awareness: knowing what you're good at and what you're not, understanding your unique selling proposition, etc.