With the highly competitive nature of this industry we are in, it is so important that each property is getting the most from their ADR and Occupancy. Depending on what your strategy is for the year ahead, one of these areas might be more important to grow than the other but, in both cases, it is of utmost importance to understand what the market is doing and how you are placed in your set.
A Revenue Management Tool can help you do this in a much more efficient and precise manner. Whether you are a hotel of 200 bedrooms or a guest house of 20 bedrooms the basis of the information required is the same;
- What is the market pricing itself at?
- Are there events taking place in my region that are affecting these rates?
- Am I above or below the market/competitive set rate?
- Am I on track to meet my forecasted occupancy with my current rates?
- Am I on track to meet budget with my current occupancy and rates?
These are all questions that need to be answered on a weekly, bi-weekly, monthly and yearly basis. With the help of a fully integrated Intelligent Revenue System, all this information can be yours at the click of a button. There is no longer the need to pull multiple reports in order to manually correlate the above information – the system will do it for you. With this information on hand you are then free to deep dive into what the information is showing you and how you can use this to drive your rates and occupancy to a maximum level.
Contact our Sales team on firstname.lastname@example.org or 01-2811960 for more information.