Many hotels think that they capture their fair share or more than their fair share of the market when looking at benchmarking data. The figures can be misleading since they are accumulated over time and do not show the necessary granularity.
If you are driven by profitability you need to focus your team on bringing in the most profitable revenue. Some years ago all revenue was the same. That has changed over time and today every hotel has to make a choice about which revenue to bring in – not just any revenue.
The cost of bringing in the revenue has substantially increased over the past 20 years from around 5-6 % of revenue to 15-25 % of revenue. Some revenue cost more than other. This is where you have to start paying attention.
How many reports in your PMS do you actually use?
We do not boast about how many reports we provide, but how few and well curated reports. Focus on the important figures and work on getting them right instead of wasting time on endless reporting.
If you are struggling with getting accurate information about your hotel to be able to make the right decisions to reach your goals, we would like to suggest a meeting to discuss how we may be able to address your issues and what is causing them in order to be able to create a plan for success.