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STR, newBrandAnalytics Launch Solution for Hospitality Industry

By Anuradha Shukla
TMCnet Contributor

STR, a hotel industry benchmarking and research specialist, has signed a social media analytics partnership agreement with newBrandAnalytics.

Both companies have teamed on launching a product suite for the hospitality industry and will integrate Social Guest Satisfaction and revenue performance to this end.

STR was actively researching the social media space to provide the hotel industry with meaningful, actionable performance metrics based on online guest feedback, comments and reviews.

After searching for a relevant partner, the company decided to select newBrandAnalytics as the best-in-class social business intelligence provider to expand its traditional offerings.

newBrandAnaltyics’ Social Guest Satisfaction solution harvests credible guest feedback from a range of social media sites and synthesizes it into rich, location level customer insight.

Once the feedback is collected, the newBrandAnalytics patent-pending algorithms analyze, interpret, categorize and qualify each customer mention to pinpoint urgent issues and anomalies and generate comprehensive performance metrics, comp set benchmarks and opportunities for growth.

“After weighing pros and cons of the market’s social media intelligence providers, STR has found newBrandAnalytics to be an ideal social analytics partner,” said Amanda Hite, president of STR. “While the importance and bottom-line value of social media guest feedback is clearly understood by the hotel industry, very few companies have determined how to effectively and efficiently glean actionable insight from reams of online data. The newBrandAnalytics platform offers a unique way to do this. It is undoubtedly one of the most exciting innovations in guest satisfaction we have seen in this space.”

“We see the social web as a giant survey. Our goal is to harness and enable this powerful, top-of-mind customer feedback and make it accessible so a hotel manager, revenue manager or department head can, in real time, understand performance trends– including the verbatim customer comments– configured to the most important service factors for their hotel or their part of the business,” said Neil Kataria, co-founder of newBrandAnalytics. “Our Social Guest Satisfaction report card format is already in use at thousands of hotels, restaurants, spas and retailers. It’s intuitive and puts the information where the operating manager needs it. We believe STR's extensive knowledge in the hotel industry coupled with our robust social media reporting will create a suite of products that will reshape the way the hotel industry views guest satisfaction data."

Read a related article at TMCnet “STR Holdings withdraws 2011 guidance, shares sink.”