Fairmas boosts global presence through data integration with OTA Insight
Leading hotel technology specialists partner to increase business intelligence benefits
Fairmas GmbH, the long-established hotel specialist for software solutions in the areas of financial planning, controlling, management reporting and benchmarking headquartered in Berlin, and OTA Insight, creator of the hospitality industry’s leading cloud-based business intelligence (BI) solutions specialising in pricing and distribution strategy, announce their partnership to integrate their systems to increase the benefits for their mutual customers.
The collaboration on data integration allows joint customers to view their own hotel performance indicators (KPIs) from Fairmas Benchmarking in an aggregated format within OTA Insight’s business intelligence (BI) platform , as desired, helping to save time and increase transparency by eliminating the need to switch between systems.
Joint customers will soon be able to view their own (and their competitors’) extensive OTA data across historical and future best available rates on the Fairmas financial reporting system. In addition to the hotel’s own room rates, revenue and other corresponding key performance indicators (KPIs), Fairmas Reporting is now further enhanced with the most accurate data on the price structure for their comp set. This enables agile management for the hotel as they can react more quickly to changes in the competitive environment.
With both companies placing customer data protection as a top priority, the data exchange will only be executed with official consent from the mutual customer.
“Fairmas and OTA Insight combine a customer-focused approach with the goal of simplifying and improving hotel management processes through the development of intelligent IT solutions. This cooperation is a real win-win situation and brings many advantages for joint customers. Above all, we make life easier for them by focusing on integration and data exchange, enabling efficient communication between systems. In this way, we save our customers time and effort from having to switch between systems so they can focus on the more important task of comprehensive data analysis that helps them in making those important business decisions. New features which incorporate OTA Insight’s detailed rate insights in our Fairmas products are also currently in development,” says Niels Schröder, Managing Director of Fairmas.
“This partnership puts our joint customers one step ahead of their competition by providing them with the most relevant and accurate market data, a must-have for a successful revenue strategy. By enhancing our service to offer a more complete picture of the market, we continue to expand our product and market leadership in the region. We very much look forward to working with the team at Fairmas and are excited to see the positive impact of this new service on our customers’ business,” said Sean Fitzpatrick, CEO of OTA Insight.
Since 2003, Fairmas Benchmarking calculates the relevant hotel key figures from the booking data of the participating hotels in Germany daily. With 1,450 participants to date, it also calculates growth rates for the comparative analysis of the performance development based on the hotel KPIs occupancy, revenue and average room rate.
This integration between OTA Insight and Fairmas will provide hotels with the unparalleled ability to view all relevant information on a single platform and will allow them to analyse and refine future business strategies. Combining real-time pricing with automated benchmarking data will empower hoteliers to make smarter pricing and distribution decisions by joining the market’s leading business intelligence technologies with the market’s strongest data integrity and transparency.
For more information on OTA Insight suite of revenue management solutions, visit www.otainsight.com.