October 19, 2018
Experience is key for the hotels of the future
There has been much talk in the hotel industry about creating a “narrative” experience in hotels.Read more
Focus your hotel’s online activities on data-driven decisions and make your website a haven of carefully-selected images, content and rate plans.
No matter how chaotic the rapid changes in the industry may seem, revenue managers need to hold onto their minds and stick to the data. This includes the day to day data in the larger context of your hotel. By this, we mean putting it in the context of your segments and target markets, your hotel’s overall revenue strategy and your ultimate goals. Keep reading for the 6 most important ways to use data.
1. Net Gain per Channel
Instead of reviewing the demand for each channel, analyse the net gain for each channel. That’s simply the revenue from that channel, minus all costs associated with it (advertising costs, commissions, etc.) When you look at how much you get from each channel, you can only get a true sense of its value when you also understand how much you give to that channel. How much does each channel return when commission costs are accounted for? What’s the Average Daily Rate for the channel? You may be surprised to see it’s your brand site delivering that higher ADR! Do your own analysis and remember: numbers don’t lie.
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