Four Sides Hospitality Consulting

Lighthouse (formerly OTA Insight)

Good morning, Reader,

I have a new partner to tell you about which you may be interested in. Lighthouse, an innovative hotel revenue management company which can also help vacation rental managers or larger hotel management companies. Lighthouse offers several cutting-edge tools to help boost your property's bottom line. In this newsletter, I will give you the lowdown on Lighthouse, how using their software can benefit you, and then some links to some articles they have written to help you right away.

Interested in seeing it in action? Just reply to this email and mention you would like a free demo or two week trial. There are a few basic questions to answer afterwards and then you will be on your way to maximizing your hotel revenues.

Let's get started:

Lighthouse is used by over 65,000 hoteliers around the world. Their mission is to "reimagine commercial strategy for the travel & hospitality industry." They believe that data-driven decisions will be the norm and they want to assist properties of all sizes to put them on an even playing field.

Lighthouse has various offerings to allow their customer properties to use the services in different ways. They are grouped into three general areas: Rate Insight, Business Intelligence, and Automation.

Rate Insight

Rate Shopping by Room

Lighthouse does the dirty work for revenue managers by pulling in the rates for your comp set by room type (if a hotel) or unit type (short term rental) to see how you are positioned in the market daily.

Special Events

Lighthouse puts special events and holidays onto the calendar so hoteliers can monitor the demand in the market accurately and adjust rates when the new Taylor Swift concert is happening, and not when it is too late.

Rate Parity

Easily monitor rates across booking channels to make sure the OTA rates are in parity, and website rates are always lower than the OTAs.

Business Intelligence

Analytics

Get Rid of Spreadsheets

Lighthouse integrates with many property management systems, such as Mews, roomMaster, Cloudbeds, and more. With a connection to the PMS or channel manager, Lighthouse can provide better revenue reporting for the year.

Segmentation

Advanced Segmentation

Segmentation is a key aspect of revenue management to analyze the booking patterns of separate groups of guests. Lighthouse helps you analyze the revenue pickup of segments overtime to help you discover new strategies to implement whether it is based on rate code, geographic location, or other ways to segment guests.

Automation

Daily Reporting

The best part of Lighthouse is you receive the daily reports in your inbox for review to send to your team. The online portal is there for when you need it to drill down into the information.

Automation

The most powerful feature of Lighthouse is setting up automation for the property to maximize the revenues while you focus on other areas. The Pricing Manager takes the components above and uses them to set effective rate strategies for the property.

Customize

You Are in Control

While the Pricing Manager is automated, hoteliers have full control of the settings. Rates will be suggested based on the hotel's occupancy, the competitors, and demand factors like special events. The hotelier is then able to accept or override these suggestions for 365 days of the year for each room type specified.

Competition

You Decide

You know your hotel market best and which hotels you want to be compared to. In Lighthouse, you set your competition and determine how important the hotel is to you. Have a hotel across the street that is ho hum? Mark it as having Low or No impact on how your rates are set. While the new hotel across town may want to be marked as High so your stay as close as possible to their rate movements.

Learn

Decisions are Transparent

Besides seeing the recommended prices for each day, Lighthouse will show you why the decisions are being made. How your occupancy is trending, the revenue pacing, whether competitors are priced higher/lower, and the events happening.

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"Lighthouse's suite of BI tools is an investment with a very quick ROl. If you take advantage of the platform, you'll always have access to live market and competitor information. This helps you make well-informed pricing and distribution decisions, better target your marketing and increase your overall revenue".

— BeatrizCadete Revenue Manager at Inspira Liberdade Boutique Hotel

Learn More

Reply to this email with:

Full Name
Hotel Name or Management Company
Contact Number
Current PMS
Current Revenue Management System (if any)
Any Questions/Comments

Articles from Lighthouse

9 pricing strategies to consider implementing

Link →

Featured Podcast: Spotlight from Lighthouse

The Art of the Perfect Sellout

This is season one of an excellent podcast series focused on revenue management. Hosted by Daniel Foreman of Lighthouse, the series discussed the strategies involved to reach a perfect sellout. It covers topics such as overbooking, the booking trend, segmentation, and more. It is well worth listening to if you are new to revenue management.

Listen Now →

That's it for this week's newsletter. I hope the articles help you learn more about revenue management. If you are interested in learning more about Lighthouse and how it can help your property, reply to this email and I will help put you in touch with the sales team.

Keep learning and growing,