UPDATE: We have now released our 2018 Benchmark Report:
Learn about what’s trending, review response metrics, and a look forward at hospitality reputation in our 2018 Reputation Benchmark Report. Available free for download.
The following is finding from the 2014 Report:
Industry benchmarks are an important tool for hotels to compare their performance to their competitors’ and to identify improvements that will have the most impact. With 23,000 hotel customers in 160 countries, Revinate has amassed a lot of data about online reviews. Using Revinate’s solution for Online Reputation Management, hotels and management companies are able to read, analyze and act on their reviews, as well as track performance against their competitors.
Revinate performed a deep dive into its online review data and analyzed more than 20 million reviews from 80,000 properties in 125 countries. These reviews were published on more than 100 online review sites and OTAs between January 1, 2014 and December 31, 2014.
In this report, we focus on average review pace, review score, and review response globally, by region, and by country. We also looked into review distribution across review sites, globally and by region. The full report is a great way to get information about online reputation that is specific to your hotel’s geographical location, but here are the quick takeaways:
1. Reviews come in from more than 100 different sites, but most are concentrated on a few of the major sites. It is important for a hotel to understand its own mix of review sources.
2. Contrary to popular belief about reviews being a source fro complaining customers, the positive reviews vastly outweigh the negative. The key for hoteliers is to amplify the positive ones and resolve the negative ones.
Why is benchmarking important?
Benchmarking allows hotels to track their performance against the competition and to set realistic and specific goals based on industry standards. A 2014 Revinate study found that Revinate customers that set goals outperform those that didn’t in terms of having the highest average rating and the largest percentage of five-star reviews. Reviews are a very important benchmark, according to a Cornell University study that found that a larger number of positive reviews is correlated with increased bookings and the ability to raise rates.