Fornova Launches Competitive Intelligence Solution To Give Hotels The Edge During the Post-COVID-19 Recovery
Fornova, the leading hospitality and travel intelligence software provider, has launched the next-generation Competitive Intelligence solution to help its customers gain a competitive advantage during the post-COVID-19 recovery.
Dori Stein, Fornova's CEO, said: "Competition is going to be fierce in the race to place heads in beds as lockdown restrictions begin to ease. Competitive data insights are going to be crucial to differentiate between those hotels who come back stronger than before and those who don't come back at all."
"FornovaCI is an opportunity for hotels to upgrade to enterprise-grade rate shopping; a complete solution that gives them the complete picture of how they measure against their competitive set, with pricing just being the start. To really gain the edge and optimize their rate strategy, hotels need to understand where that price is shown on search results, be able to compare rates in all key geographical markets, and benchmark reviews."
A FornovaCI innovation is the CI score, which enables hoteliers to evaluate the competitiveness for an individual hotel, a cluster or even the whole chain in one simple index (1-100). The score provides a quick way to evaluate current performance (rate, visibility, reviews, etc), investigate progress over time, and benchmark the hotel to its piers (based on hierarchy, geography, etc).
Fornova's patented technology can emulate users from 72 different markets (Points of Sale), and scan and compare all those rates simultaneously. Consequently, FornovaCI is the first competitive intelligence platform to allow hoteliers to dynamically change the geographic location (POS) from which potential guests are accessing the Internet when comparing their rates to their comp set; with hotels and OTAs listing different rates across various countries, this means FornovaCI users can evaluate their properties' competitiveness against the appropriate competitor rates every time.
Accurately assessing competitiveness per segment or per region enables the running of geo-targeted promotions; this kind of hyper-targeted marketing is predicted to be a crucial competitive advantage in the post-COVID-19 'new normal'.
Another unique feature of FornovaCI is its ability to understand the lowest rates that competitors have anywhere in the market because Fornova's technology allows it to be the only one to track third party rates (e.g. unpackaged from wholesalers), loyalty rates, as well as device-specific promotions (e.g. mobile app rates).
FornovaCI will also integrate with Fornova's other intelligence tools including its distribution intelligence (FornovaDI) and business intelligence technology (FornovaBI) to enable hotels to optimize performance across their operations.
About FornovaFornova is a market leader in Big Data for the travel and hospitality industries. In order to help hotels turn data into profit, it tracks more than 100,000 brand.com sites and OTA websites and has the most comprehensive data set in the world spanning 72 points of sale including the most challenging regions such as China, Latin America, and Africa. Founded in 2010, Fornova has grown its team to 200 members, with offices in London, Amsterdam, New York, Israel, Belarus, Ukraine and India.
For more information visit: www.fornova.com/competitive-intelligence
Phone: +44 (0)1224 900067