Recent research from Market Metrix revealed that guest experience has now surpassed location and price as the most important factor for customers when booking a hotel. This guest experience is increasingly represented through online reviews. Barcelona startup ReviewPro aggregate and analyse these reviews through web-based analytical tools to help hotels manage their reputation and develop their customer intelligence. If you’d prefer to rent a flat in Barcelona than stay in a hotel, ShBarcelona is one of the city’s most reputable agencies for apartments for rent in Barcelona.
ReviewPro was founded in Barcelona in 2008 and in 2011 was awarded Best Emerging Technology Innovation by the global consultancy firm PhoCusWright. The company has since become the global leader in reputation management solutions for hotels and has expanded to additional offices in New York and Singapore. Today it counts thousands of hotels in over 80 countries in its client roster, ranging from some of the world’s largest international chains, such as the Louvre Hotels Group, to independent properties including The Ritz London.
ReviewPro has capitalised on the growing prominence of social media in hotel choice. A 2010 Sheraton Hotels & Resorts survey argued that 64 percent of travellers now use social media to plan their trips, and 76 percent of 25-34 year-olds, suggesting that these percentages are set to increase.
“Due to the growing influence of social media and user‐generated content,” says ReviewPro CEO R.J. Friedlander, “the hotel sector is in the early phase of radical change with regards to brand management and the factors that are influencing marketing and online distribution sales.”
ReviewPro offer three versions of their products to their customers, all of which are charged through monthly rates: ‘Corporate’ for large hotel groups, ‘Standard’ for small and budget hotel and a premium version, ‘Plus’, providing additional details of their social analytics. They function by aggregating, analysing and classifying online data about hotels from travel agencies, review websites and social media platforms. Data is displayed on dashboards containing features and filters for viewing, comparing, tracking and categorising reviews. The data is then used by hotels to manage their marketing and sales strategies.
Together with hotel industry experts, ReviewPro developed the Global Review Index, a proprietary algorithm to provide B2B hotel rankings for the industry. It allows hotels to review and track their online performance and compare it with their competitors through ReviewPro’s CQI (Competitive Quality Index). In April they launched the Revenue Optimizer, an additional module to compare revenue and online reputation.
“Today’s challenge for hotels is not to decide whether they need or don’t need to measure their online reputation,” explains Friedlander, “but to determine in which areas of their usual management that information can lead to a competitive advantage.”
These innovations led ACTIVE Venture Partners to this year describe ReviewPro as having “the best technology of its segment” and invest €3 million in the startup, bringing total funding close to €5 million. Further expansion in Europe and the rest of the world is planned. And the company isn’t stopping with hotels; they recently announced an equivalent reputation management service for the restaurant industry. As the influence of online reviews continues to grow, ReviewPro’s looks set to rise concurrently.