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accurate location intelligence for competitive insights about markets and locations . Retailers , for instance , have used mapping and location analytics to identify where to grow their business , to understand customer behavior and to visualize and manage assets such as inventory and supply-chain networks . Manufacturers use GIS spatial business intelligence technology to efficiently operate , deliver on service promises and engage customers and influencers .
GIS can be a boon for hospitality development and acquisition . Real-estate market participants use GIS to research markets , identify new opportunities for growth and expansion and manage their investments at the market and neighborhood levels .
But there are challenges with GIS related to the lodging sector . Most demographic data used in current GIS applications is based on the local resident population , not inbound travelers , which typically make up the bulk of lodging demand .
DATA DELIVERY New technology , however , is figuring out how to make better sense of GIS for the lodging segment . Consider Lodging Analytics Research and Consulting ( LARC ), which is incorporating data relevant to the lodging sector into a new GIS tool that allows for site evaluations , competitor location analysis , demand generator analysis and site comparison based on both geography and demographics .
Data incorporated into LARC GIS , which can drill down to a city block and includes current data and five-year forecasting , includes : E economic activity E office employment E retail sales E meeting space E demand generator locations E in place hotel supply E new hotels under construction E convention center activity E leisure demand E RevPAR Hotels are sensitive to location ; consequentially , the ability to measure the impact of location is critical . As GIS is all about location and geographic information , it is the fundamental next step in the evolution of data-driven hotel business decision-making . Location matters more than ever and GIS gives lodging sector participants ( lenders , equity investors , developers , intermediaries / brokers , hotel operators ) the information they need to make informed judgements .
FOR THOSE LOOKING TO ACQUIRE OR BUILD A HOTEL , IT ’ S INVALUABLE DATA ... BECAUSE IN HOSPITALITY , LOCATION , LOCATION , LOCATION IS WHAT ULTIMATELY MATTERS .
– DANIEL LESSER
72 hotelsmag . com Mar / Apr 2023