Vendor Updates

Knowland

2020 Spring
Arlington, VA
http://knowland.com

Introducing the Knowland Recovery Curve: Where you stand and what to do next.
Trying to predict the recovery is like running in mud in this COVID19 world. To help hoteliers better understand how they're positioned for the rebound and the corresponding actions they should take, Knowland has developed a free tool, the Knowland Recovery Curve, or K-Curve.

Executives and sales teams alike will benefit from Knowland’s free interactive tool as it helps hoteliers visualize their recent occupancy trend, compare it to the local market and determine where they fit against the Recovery Curve. Once hotel data is entered, the tool automatically provides insight into where the property stands compared to the chosen local market. A hotel’s curve status will be classified as a Leading, On Track or Delayed Recovery Curve based on where its trajectory falls compared to the market. Users can even run sensitivities by selecting their comparison market from the top 25 STR markets or default to the overall market.

The K-Curve also illustrates the status of group business returning to a specific market tracked by Knowland. Then, depending on where a property sits in its market standards, the tool will provide users with tactical action plans for each curve status. For example, the action plan for a hotel with an On Track Recovery Curve, might include the recommendation to lean in with low-cost direct marketing to its expanded drive market to capture share from local hotel competitors. It will be critical for hotels, big and small, to understand and monitor where they stand competitively and comparatively as the industry moves toward its grand reopening.

Many travelers may not want to return to the air for a while, so drive market strategies can make or break recovery. From the group perspective, the first returning business will be smaller, local and regional events. However, a recent survey conducted by Knowland revealed that more than 50 percent of respondents had not done local outreach within the past year. If you fit within the group that hasn't done local outreach, now is the time to do so. Selling with compassion through nurtured relationships and trusted value will determine how your hotel is seen after this is all over. Knowland can show you and your sales team how.

The trademark of our industry is that we always recover. There is much to be done to prepare to return to the new normal. What you do today will determine not only how you recover but also how you will move forward in the long term. Preparing for the return of group business, essential in driving occupancies back to prepandemic levels, can be achieved by leveraging tools like the Knowland Recovery Curve.


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