eCornell video: Online reputation can boost revenue

What are the biggest trends in online reputation management for hotels?

ReviewPro CEO RJ Friedlander recently addressed that question with Cornell University’s eCornell team during the HITEC hotel technology conference in Minneapolis.

Bottom line? You’re taking a risk if you’re not aggressively managing your hotel’s online reputation – and watching those of your competitors – because it can boost your property’s revenue, he says.

A few highlights from the two-minute eCornell video:

  • Online reputation = revenue. The biggest trend now is the growing acknowledgement that a hotel’s online reputation score (ReviewPro’s Global Review Index) directly correlates to its revenue. Cornell University issued a landmark study last November using ReviewPro’s data proving this point, and it’s since had a ripple effect in the industry.
  • Transparency. Hoteliers’ superiors will know whether or not they managed social media well. “The world is going to become an increasingly difficult place to be mediocre or worse,” Friedlander says.
  • Investors execs embrace social analytics. A wide array of hotel industry leaders are embracing social analytics, he says. ReviewPro’s been seeing “some of the leading funds and corporate development professionals in the world” begin to buy its data to shape major financial decisions, for instance, he says.
  • How successful is a GM? As the influence of social analytics grows within the hotel industry, Friedlander predicts that in the future, large hotels will take GM’s success in moving GRI scores up into account when making hiring decisions.

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