BEND, OR – The cost of lost opportunity can have a significant impact on any organization, but this is especially true for the hospitality market. Today, NAVIS, the leader in innovative technology solutions for hotels, resorts, and vacation rental companies, announced the launch of their new Competitive Edge Calculator, a tool that makes it easy for lodging providers to analyze the revenue they are likely missing out on within their existing demand. The calculator is designed with customized preferences for both hotels and vacation rentals, and powered by a data-driven algorithm built on more than ten years of industry performance data.
“Uncovering how much revenue a hotel or vacation rental may be missing based on existing demand can be game-changing,” explains Michelle Marquis, Vice President, Sales and Marketing at NAVIS. “This is often where we see an ‘aha moment’ for lodging operators of all types. If a property is only converting twenty percent of their inquiries, what are they doing about the other eighty percent? Capturing reservation inquiry data and then leveraging the power of personalized remarketing can radically transform your ROI. The most successful operators realize that it’s less about generating additional demand and more about working to enhance their team’s performance.”
The NAVIS Competitive Edge Calculator illuminates that lost revenue based on property statistics and performance. This first of its kind interactive tool offers options aligned with different property types to fine-tune the results. Based on the selections, the built-in backend formulas are adjusted to influencers such as direct vs. distribution channels, associated commissions, and other key contributing factors
