Magid Announces Market Intelligence Tool for Travel, Hospitality and Leisure (THL) Industries
Magid announced the release of its THL Market Intelligence tool, which captures when and how consumers expect to engage in various subsectors of the travel, hospitality and leisure industries, helping businesses and investors to better forecast industry spending on an ongoing basis.
THL Market Intelligence builds upon Magid’s THL Recovery Tracker, which was launched in early April. Since its beta launch, the tool has begun yielding predictive insights – at a time when data relying on past consumer behaviors offers little useful business intelligence.
For example, on April 10, Magid forecasted domestic flight traffic would increase by a factor of 2.0 by May 10. On that that date, TSA screening data reported that the number of screenings increased by a factor of 1.84 since April 10, tracking along Magid’s findings. Similarly, the THL Recovery Tracker forecasted that on April 10 dine-in eating would increase 17% over the next eight weeks. According to research by OpenTable, there was indeed a 17% increase in reservations since April 10.
Magid’s THL Market Intelligence looks at 11 sectors across the THL industry, including airlines, ground transportation, lodging, fitness centers, cruise lines, movie theaters, theme parks and water parks, restaurants, casinos, concerts and festivals, and sporting events.
Within each sector, the tracker includes projected reach, frequency, total number of expected engagements over time, percentage change in expected engagement over time, and expectations for a “return to normal.”
"The aim of THL Market Intelligence is to provide forward guidance to those working in the travel, hospitality and leisure industry on the timing and depth of the sector’s recovery,” said Craig Wax, Executive Vice President at Magid. “By integrating our intelligence tool with their existing forecasting data, investors, planners and financial analysts will have a broader view into consumer behavior which allows them to more confidently forecast and plan for the future.”