Digital strategy should exploit data to inform investment decisions. Andrew Sangster
discusses finding data for the hotel sector.
Digital strategy and research methods
Data has a huge vital role in determining quite important investment decisions.
You’re looking at a big hotel asset in a major gateway city, it's a hundred million plus Euros.
That’s serious amounts of cash and it should warrant some serious amounts of research.
Traditional methods, sure they go in, go have studies done in terms of local demand patterns, you list all the local hotels and what the existing demand is.
Often what’s not being fed in are new things. What new businesses are coming? What businesses are actually exiting from the market?
What’s happening in that city, in terms of its local economics? What’s happening in terms of the feeder markets into that city?
All of this data is very hard, under traditional models, to actually digest and process.
But actually if you’ve got a more sophisticated something, which can actually take this information and process it efficiently and quickly, you can have much more powerful and incisive information.
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