Category Essence: Mobile Solutions

Capsolve announces its Mobile Solutions research for Restaurants, Hotels, Vacation Rentals and Golf & Country Clubs. It analyzes a couple hundred of today’s mobile technologies to help these industries make choices about their mobility roadmap. This complimentary report provides an introduction to the solutions to consider when evaluating functionality to add now or in the future.

  • A summary of the overall solutions marketplace, and
  • Its place within the Marketing Technology Ecosystem
  • Current Trends influencing the category
  • The Core Capabilities provided by the researched solutions
  • The Styles and Strategies employed by Solution Providers within the market
  • Key marketing considerations for these products and services
  • Research encompasses: Guest Messaging, Digital Keys, Digital Menus, Online Ordering, Contactless Payment, Guest Marketing, Event Apps and more…

Category Essence: Revenue Management Solutions

Revenue Management Solutions exist to provide consistency, accuracy and enhanced pricing techniques and automate the complexities associated with pricing perishable inventory. Much innovation has occurred in recent years. Now, this technology influences the pricing or hotels, restaurants and golf courses. Capsolve has released a brief introduction to the global RMS marketplace to give buyers and sellers of these solutions a better understanding of market constituents. This report provides: 

  • A summary of the overall RMS marketplace, and
  • Its place within the Marketing Technology Ecosystem
  • The Core Capabilities provided by many solutions
  • The Styles and Strategies employed by Solution Providers within the market
  • Key marketing considerations for this software
  • A glimpse into Current Trends influencing the RMS category

Hospitality and the SRQ Marketplace

Key demographic and local trends affecting hotels, vacation rentals, restaurants and golf courses in the Suncoast and SRQ marketplace

Florida continues to experience growth across both the general population and the inflow of travelers. Enterprise Florida reported a growth in the state population of around 2.0% in recent years. VisitFlorida reports that travelers into Florida from all global destinations increased 2.5% for 1Q17 compared to the same period the previous year, reaching 31.1 million visitors.

Manatee, Sarasota, and Charlotte counties are no exception to this. ESRI’s analysis showed these counties experiencing a total population growth rate of 7.3%, 6.0%, and 5.0%, respectively, from 2010 to 2016. Further to this point, Metrostudy reports that Sarasota County experienced 23.4% growth in housing starts when comparing 1Q17 to 4Q16. Manatee county experienced a decrease of 0.2% in the same metric.

Other cities within this area also reported meaningful population growth. The Herald-Tribune recently reported that the city of Sarasota experienced 2.5% growth from 2015 to 2016 based upon Census Bureau data, while Bradenton was at 2.3% and North Port at 3.3%. Each of these areas has a different demographic makeup and understanding the local hospitality industry supply, population and demographic data at the county level shows metrics that should be of interest when planning for future marketing activities.

Local Hospitality Industry Supply Levels

County

HotelsFull Service RestaurantsLimited Service Restaurants

Golf Clubs

Manatee

130

552332

43

Sarasota

192

836479

51

Charlotte

48

290209

20

Source: Enterprise Florida

However, most of us understand that these numbers are changing and sometimes rapidly. Hotel room inventory in the city of Sarasota will be changing significantly during the next 12 to 18 months. It may also be worth mentioning that while these numbers are close and directional, they are not perfect due to how business types are categorized within the data.

Reviewing the population of the area allows us to compare it to inventory levels for each hospitality segment.

Local Consumer Demographics

County

PopulationMedian AgeHouseholdsHouseholds 50k +

% Households 50k +

Manatee

346,511

47.0144,76070,802

48.9%

Sarasota

402,055

55.1185,18393,276

50.4%

Charlotte

167,940

58.077,37934,679

44.8%

Source: Enterprise Florida

Ratios: Population Per Supply

County

Population/ HotelPopulation/ Restaurant

Population/
Golf Club

Manatee

2,665

392

8,058

Sarasota

2,094

306

7,883

Charlotte

3,499

337

8,397

While the above table has a reasonable amount of consistency across each county, the data at the city level is much more disparate with significant variations in the ratios from city to city. These calculations lead owners to ask if they are getting a fair share of the population and its extended sphere of influence to visit a specific location. Completing this analysis properly, requires the addition of inbound fly and drive travel activity to be included. Combining these data sources creates a baseline of volume that should be achievable for a given location and promotes a better understanding of the ebbs and flows from which marketing programs may influence revenues.

Wondering how to create a marketing technology platform as unique as your business? Start by sharing some basic information with Capsolve about what you want to achieve or simply explore a new area that you feel may be a possibility.

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