Social media has an increasingly important role in many aspects of the hospitality industry. Yet, its contribution to driving hotel bookings is still under strong debate among hotel marketers. A new Cornell study now attempts to quantify the impact of social media upon lodging performance as measured by bookings, occupancy, and revenue.
Social media has been touted as having an increasingly important role in many aspects of the hospitality industry, including guest satisfaction and process improvement.
However, one of the more intriguing aspects of social media is their potential to move markets by driving consumers’ purchasing patterns and influencing lodging performance. In the absence of a comprehensive attempt to quantify the impact of social media upon lodging performance as measured by bookings, occupancy, and revenue, this report uses the unique position of Cornell’s Center for Hospitality Research to combine data from three CHR research partners (ReviewPro, STR, and Travelocity), and two other data providers (comScore and TripAdvisor) in a first attempt at determining ROI for social-media efforts.
Read full story at: http://hotelmarketing.com/index.php/content/article/the_impact_of_social_media_on_lodging_performance
