Hospitality professionals need to analyze their business strategically to maximize revenue, improve client satisfaction and make informed decisions to remain competitive in an ever-changing industry.
Hospitality professionals, including hotels, campgrounds and resort towns, have a strategic imperative to analyze and manage their activities and performance. This is crucial for several reasons. Understanding and optimizing these aspects are essential to staying competitive in a constantly evolving hospitality industry.
Did you know that... most reservations are made at night or when you are not at your establishment?
Revenue management allows you to adjust prices based on forecasted demand, special events and booking trends, thus maximizing revenue and profitability. Revenue optimization levers are related both to endogenous operational and marketing data (internal) and to exogenous factors, that is, external and therefore related to the context.
It is no longer enough to compare your occupancy rate, your unplanned increase, your ADR and your REvPar with the previous period. Revenue management strategies must also take into account the context (news, strikes, weather) and the strategy of other competitors.
Evaluating your ADR (average daily rate) by key period is a performance indicator to compare you with your direct competitors. The RevPar (Revenue per available room) analysis will include the notion of optimizing revenue by filling the establishment to its maximum capacity.
In a context where hospitality establishments must strategically differentiate themselves, improve their services and surprise their clients, the marketing and profitability of the various profit centers of an establishment (restaurant, bar, spa, boutique, seminars, activities) add complexity to the analysis.
Tracking ratios such as TrevPar (Total Revenue per Available Room) or GoPPar (Gross Operating Profit per Available Room) provides an overall view of the performance and profitability of a hospitality establishment.
This applies both to the analysis of unanticipated upside factors, competitive trends and rising occupancy rates, as well as to the optimization of occupancy levels and revenue growth. In addition to ADR and RevPar, the TrevPar and Ebitda (profitability) KPIs play an essential role in decision-making.
Analyzing client preferences and behavior helps to personalize services, improve client satisfaction and build client loyalty. The analysis of satisfaction questionnaires and client feedback is becoming a key element of a customer-centric approach. Analyzing client feedback to identify priority areas for improvement, incorporating it into projects to change the organization or services offered, and monitoring the impact of these changes over the seasons are the hallmarks of an establishment that is concerned with active growth and committed to its clients and staff.
Evaluating the performance of teams, organization and processes helps to improve productivity, whether in the front or back office, taking into account time, expertise and costs. The new technologies incorporated in our hotel software based on data and automation are allies of your productivity.
Monitoring operational performance helps to detect deficiencies, reduce costs and improve service quality. Given the shortage of qualified personnel and the complexity of hiring in the hotel and restaurant industry, having a PMS software that centralizes data and facilitates day-to-day operations ensures quality work and a better work experience for employees.
Having more time for customer relationships by automating recurring tasks and processes involved in the client experience is essential to be able to differentiate yourself from the rest and offer the client a personalized experience.
Our solutions include business intelligence tools that provide detailed analysis to help make informed decisions on investments, expansions, renovations, contracting and marketing strategies.
Hotel establishments process numerous data sources related to business management, sales, operations, inventory management, purchasing, accounting, finance, client management and client data. A clear and summarized view of the data is essential for analyzing relevant information, gaining insight and making the right strategic and operational decisions.
Understanding market trends and consumer behavior is crucial if you want to adapt quickly to new trends and preferences.
Hospitality professionals need high-performance management and analytics tools that enable them to collect, analyze and act on data in real time. These include customer relationship management (CRM) systems, revenue management platforms and operations management software (PMS or CRS). Adopting a data-driven approach has therefore become a strategic lever for growth, efficiency and competitiveness in the hospitality industry, as well as a customer-centric vision. Because the two factors need not be mutually exclusive!
