Monday, 23 June 2014

Cornell University and ReviewPro - essential viewing for every hospitality professional

A huge vote of thanks to Cornell School of Hospitality and ReviewPro for this study. For those who have an hour to spare we seriously recommend watching the whole presentation; here we present some of the key findings and overlay some of our own conclusions...

   
Online reputation and RevPAR

This study conclusively proves what we have always contended: that the two are inextricably linked:
  • If you can positively impact your online reputation (your TripAdvisor ranking and your Booking.com score) your RevPAR will rise
  • This applies equally to volume (occupancy) and rates. Until now businesses where occupancy was not an issue were sceptical about how scores impact on rates - no longer!

ReviewPro/Revinate and Dialogue 

Services like those provided by ReviewPro are invaluable for identifying and internally addressing the areas being criticised by guests. Acting on the detailed feedback these services provide will enhance the guest experience and is bound to feed through into more positive reviews.


Combine this with Dialogue and you will turbocharge the results: ReviewPro impacting on your ability to focus on improving the guest experience and Dialogue translating that into more positive reviews (by 20%+) and fewer negative reviews (by as much as 75%) and you will see the difference impact on RevPAR - dramatically.

Here are just two screenshots from the presentation:

Occupancy and Rates

And...

Showing that online reputation up = RevPAR up - and, interestingly more for 3 and 4 star hotels than their 5 star bretheren (the result for 2 star hotels was even more marked: at 1.9). Just a 1% increase in your TripAdvisor ranking (from 200 to 198 etc.) leading to a 1% increase in RevPAR

For further interpretation and advice please contact Karen (karen.hutchings@helphound.com).

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