A summit of more than 160 leading Asian hotel industry professionals has delivered key insights into the impact online bookings and social media are having on the regional hotel sector, with 90 percent of respondents predicting that hotel bookings from online sources will grow by more than 20 percent in the coming two years.
The ‘Driving Hotel Revenue Malaysia Summit’, organised by IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting, gathered leading Asian (and Malaysian) hotel general managers, revenue managers and sales directors for key educational and networking sessions.
Research from the summit found that the rise in popularity of social media and online review sites across Asia is having a significant influence on how hoteliers operate and their ability to attract guests. Ninety-four percent of hoteliers surveyed stated that a hotel’s online reputation can have an impact on a guest’s decision to stay with a specific property or hotel group.
“Hoteliers in Asia must adapt to changing guest booking patterns – with a particular emphasis on how to best attract and retain guests in an increasingly online world,” said Jessica Tham, corporate director of revenue management, Berjaya Hotels & Resorts. “It is no longer enough for hoteliers to put room rates out into the market and simply expect guests to turn up. Savvy hoteliers have to understand what influences a guest’s decision-making process these days and be involved in the process.”
Crucially, for hoteliers across Asia, the rise in social media and online review sites are having a direct financial impact on their businesses.