Additions to Lighthouse's commercial platform give revenue leaders the ability to expand scope of analytics and drive revenue beyond room pricing
DENVER, CO / ACCESSWIRE / June 18, 2024 / Lighthouse, the global leader in cloud-based market intelligence for travel & hospitality, today announced the launch of three new additions to its industry-leading commercial BI solution. The launch includes:
Total Revenue, AI Smart Summaries, and Custom Reporting
- Total Revenue: a step-change improvement for BI in the hospitality industry, providing a complete view of room and non-room revenue performance
- AI Smart Summaries: daily performance insights, powered by generative AI, saving time and delivering better decisions
- Custom Reporting: personalized, editable reports and dashboards, creating more flexibility to capture new insights
"Business Intelligence is a key component of our commercial platform, and we continue to improve on our offering with new features that address customer needs, with hospitality-specific applications of the latest technology, such as Generative AI," said Gregory Peppel, Head of Business Intelligence Products at Lighthouse. "With these latest features, we are changing the way commercial teams manage revenue performance."
The new features build on the existing Lighthouse BI solution set, which is used by over 8,500 hotels globally and was named Best Hospitality Business Intelligence Solution of 2024 by HotelTechReport.
Lighthouse BI encompasses deep integrations with the Lighthouse product suite including Rate Insight, Market Insight, and Benchmark Insight. This results in data-driven decisions based on reservation-level data, competitor pricing, market demand, and benchmark data.
Total Revenue
Total Revenue provides a holistic view of both room and non-room revenue performance, with breakdowns by department, source and segment. The data syncs automatically with your PMS, eliminating the need for manual data collection or mapping from multiple sources, enhancing data accuracy and enabling immediate action to optimize all revenue streams and increase profit potential.
AI Smart Summaries
AI Smart Summaries leverage Generative AI to transform complex data sets into easily digestible daily performance summaries for hotel commercial teams. This technology captures and summarizes changes in pick-up, ADR, segmentation, and occupancy-tasks that previously took hours to compile. AI Smart Summaries save revenue management teams time and make daily performance insights more accessible to the entire commercial team, allowing for more strategic decision-making and improved results across all stakeholders.
Custom Reporting
Custom Reporting allows users to create, export and schedule personalized reports and dashboards. With pre-sourced data, a pre-built data model, and multiple editable report templates that include essential metrics, users can start generating valuable insights faster. Lighthouse's extensive experience in hotel analytics ensures our data model includes advanced hotel-specific features, for more robust and insightful analysis.
Jerrod Jackson, VP of Revenue Management Strategy at ZMC Hotels, shared his experience with Lighthouse Business Intelligence: "Everything that we look at doing in terms of adopting a new system or a platform is based on how we can create efficiencies and speed to market. Overall, Lighthouse BI has increased our efficiency and helped support better commercial decision-making."
Lighthouse BI drives substantial business impact for hoteliers by bringing performance data for your entire portfolio into a single business intelligence solution. It's designed to be user-friendly, with out-of-the-box solutions that make complex data accessible to everyone.
Currently, the newly launched features for Total Revenue, AI Smart Summaries, and Custom Reporting are available to a select number of partners, with a broader release expected in Q3 2024.
To gain early access or to learn more, please visit www.mylighthouse.com/BI
Contact Information
Adam Swart
Global Head of Brand
adam@otainsight.com
917-359-8969
SOURCE: Lighthouse
View the original press release on newswire.com.
