Cloudbeds, a leading hospitality management software platform, has announced a strategic data automation agreement with STR, a CoStar Group company and a prominent provider of premium benchmarking, analytics, and marketplace insights for the global hospitality industry. This partnership enables Cloudbeds’ users to seamlessly integrate their operational data with STR’s extensive market intelligence, allowing hoteliers to monitor essential performance metrics such as occupancy rates, average daily rate (ADR), and revenue per available room (RevPAR) directly within STR’s dashboard.
The integration leverages an API-driven data exchange, providing Cloudbeds customers with direct access to STR’s rich market data, which enhances their ability to benchmark their hospitality performance against industry standards. Adam Harris, CEO of Cloudbeds, described the collaboration as a “game-changer for the hospitality industry,” emphasising that it equips hoteliers with vital tools to maintain competitive advantage, improve profitability, and elevate the guest experience.
This new capability is positioned to be especially powerful in facilitating data-driven decision-making. Hoteliers can now access real-time market insights to adjust operations, marketing strategies, and revenue management with greater agility. By incorporating external market benchmarks alongside internal data, Cloudbeds users are better informed when optimizing pricing strategies, capitalizing on demand fluctuations, and refining their overall revenue approach.
Cloudbeds’ strategy fits into a broader vision of integrating diverse data sources into a unified platform. Its in-house business intelligence solution, Cloudbeds Insights, already offers real-time, customisable dashboards embedded within the property management system, enabling users to create ad hoc reports and track key business metrics swiftly. This seamless integration enhances operational efficiency and supports comprehensive forecast and budgeting functions across multiple properties.
Further emphasizing Cloudbeds’ commitment to innovation in hospitality software, the company has also forged other significant partnerships, including a strategic alliance with Duetto to integrate advanced revenue strategy tools that enable total property performance tracking and offer full two-way real-time synchronization. Additionally, a recent collaboration with STS Cloud focuses on improving hotel group sales and event operations through synchronized management of room blocks and event contracts, reducing the risk of overbooking while improving service personalization.
Cloudbeds’ expansion through ecosystem partnerships, including collaborations with SiteMinder, Cendyn, and SHR Group, showcases its broader ambition to enhance connectivity across platforms, consolidate guest data, and integrate AI-powered reservation systems. This networked approach, combined with the STR data integration, further empowers hoteliers with comprehensive, actionable insights from both internal operations and external market conditions.
The STR integration is currently available to joint customers of both companies, with ongoing support and educational resources planned to maximize the value hoteliers can extract from this automated data exchange. Cloudbeds is showcasing this innovation at industry events such as HSMAI Commercial Week and HITEC in Indianapolis, underlining its commitment to advancing technology adoption in hospitality management.
Overall, this development represents a significant step forward in marrying operational data with sophisticated market intelligence, giving hoteliers unparalleled insight to thrive in a competitive and dynamic industry environment.
Source: Noah Wire Services
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