VTV Channel - A Vlog focusing on Hotel Merchandising Online » Chris Anderson http://vtv.vfmleonardo.com Sat, 31 Jul 2010 18:48:09 +0000 en hourly 1 How to Leverage OTAs and Brand.com for Maximum Conversion http://vtv.vfmleonardo.com/how-to-leverage-otas-and-brand-com-for-maximum-conversion/ http://vtv.vfmleonardo.com/how-to-leverage-otas-and-brand-com-for-maximum-conversion/#comments Mon, 19 Apr 2010 13:00:40 +0000 VFM Leonardo http://vtv.vfmleonardo.com/?p=884 Travel shopping behavior follows a cyclical flow – when demand is low, OTAs thrive because consumers are value-conscious and looking for the ‘best deal.’ When demand is high, shopping traffic moves back to supplier sites. Chris Anderson, Assistant Professor at Cornell School of Hotel Administration, shares his insights on how hoteliers can leverage OTAs and brand.com to achieve maximum conversion.

Key learnings:

  • The recent demand decline led to increased traffic on OTAs
  • Value-conscious consumers shop more – OTAs are vehicles to shop & compare
  • An enhanced presence on OTAs positively impacts bookings on supplier channels
]]> http://vtv.vfmleonardo.com/how-to-leverage-otas-and-brand-com-for-maximum-conversion/feed/ 2 The Role of OTAs in the Travel Planning Process http://vtv.vfmleonardo.com/the-role-of-otas-in-the-travel-planning-process/ http://vtv.vfmleonardo.com/the-role-of-otas-in-the-travel-planning-process/#comments Mon, 01 Mar 2010 14:00:16 +0000 VFM Leonardo http://vtv.vfmleonardo.com/?p=815 Travel shoppers use online travel agencies (OTAs) more for research and comparison than booking. Although OTA market share is small, hotel listings on OTAs influence a much larger share of transactions. Hotels that are listed on OTAs see increased reservations on their own sales channels (call centers, booking engines, etc.).

In this episode, Chris Anderson, Assistant Professor at Cornell School of Hotel Administration explains  additional factors that influence conversions:
- Page positioning
- Advertisements
- Competitive offers

Basically, the better you merchandise your hotel on OTAs, the greater your conversion factor will be.

]]> http://vtv.vfmleonardo.com/the-role-of-otas-in-the-travel-planning-process/feed/ 16 The Role of Opaque Sites in the Travel Planning Process http://vtv.vfmleonardo.com/the-role-of-opaque-sites-in-the-travel-planning-process/ http://vtv.vfmleonardo.com/the-role-of-opaque-sites-in-the-travel-planning-process/#comments Mon, 25 Jan 2010 14:00:50 +0000 VFM Leonardo http://vtv.vfmleonardo.com/?p=688 Opaque bidding mechanisms are particularly attractive to value-seeking, non-brand loyal consumers who want 4 and 4 ½ star accommodations but don’t want to pay retail rates. Sites like Priceline and Hotwire that have opaque mechanisms offer hoteliers an opportunity to price into this segment while maintaining higher rates at retail outlets. Leveraging these sites typically results in improved RevPAR.

Tips on getting started with opaque sites:
- Start using them as soon as possible
- Give higher rates with restricted inventory
- Use them day-of or day-before

]]> http://vtv.vfmleonardo.com/the-role-of-opaque-sites-in-the-travel-planning-process/feed/ 5 The Billboard Effect http://vtv.vfmleonardo.com/the-billboard-effect/ http://vtv.vfmleonardo.com/the-billboard-effect/#comments Mon, 11 Jan 2010 14:00:31 +0000 VFM Leonardo http://vtv.vfmleonardo.com/the-billboard-effect/ Chris Anderson, Assistant Professor at Cornell University shares the results of a research study “The Billboard Effect” conducted in partnership with JHM Hotels and Expedia. In the study, four properties were cycled on and off Expedia over a period of three months.

Here’s what you will learn in this episode:

- Hotel placement on Expedia results in a 20% increase in bookings on other channels
- Reservations made on other channels (call center, brand.com, other sites) offset reservations made on OTAs
- Rates attained while being listed on Expedia were about 2-3% higher

The bottom line: Hoteliers need to think of OTAs as marketing vehicles versus reservation engines.

]]> http://vtv.vfmleonardo.com/the-billboard-effect/feed/ 17