ID HOTELIER - While many hotels and resorts in Bali continue to struggle in the early phases of the recovery, many have recently overhauled their market positioning for the new “normal.” What may have worked before the pandemic, may not work in 2023 and 2024, so it is unsurprising that many resorts have revamped their hotel product identities.
We have recently used a statistical technique that performs basic text-mining that unearths both the frequency and the adjacency of words across multiple competitive hotel product reviews and translates the analysis into a product positioning map that parses out the perceptions and preferences for competing resorts. Our example uses the hotel product reviews for 5-star resorts located in Jimbaran and Uluwatu on the southern tip of Bali. It includes many hotel product reviews which account for over 4,000 words. For the sake of simplicity, our analysis uses only twenty words for our example (maximum is two hundred).
The words “resort”, “Bali”, “villas”, “Balinese”, and “pool” were the most frequently used words in the top twenty words used in the hotel product reviews. The words “rooms”, “experience”, “offers”, “contemporary”, and “exclusive” were the least frequently used words of the top twenty words identified. The graph also illustrates the concept of word adjacency. By using this technique, we can develop a perceptual map identifying the resorts and their position relative to their competitors.
Through the analysis, resorts can understand their position in a competitive market, how the resort is different from its competitors, the marketplace conditions, opportunities in the marketplace, and how the resort can position itself.
Ross Woods is a seasoned hotel investment advisor with over 30 years of global experience in hotel asset management, portfolio management, and hotel advisory services. Known for his collaborative-based consulting style that integrates a high level of strategic and analytical expertise, his “smarts” are sought by clients to solve complex issues, make better decisions and realize the highest risk-adjusted investment returns. His clients include banks, private investors, REITs and hotel management companies in the United States, South East Asia, Australasia, Europe, and Dubai.
Please contact visit : www.hotelinvestmentstrategies.com
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