Escape KPI Paralysis: Streamline Your Hotel's Performance Metrics
Hoteliers tend to measure the same good old KPIs, such as occupancy, ADR, RevPAR, and other KPIs, all the time. However, there is also a continuous discussion about finding new KPIs more effective in measuring a hotel's performance, such as revenue or profit per square meter, total revenue per available room (TRevPAR), or customer lifetime value (CLV). There are now so many KPIs in the hotel industry that hotels have entered a phase of KPI paralysis. A better way is to select fewer, more relevant KPIs for the specific hotel depending on the concept, facilities, star rating, size, location, and other hotel-specific variables.