There’s no getting around it. Today’s hoteliers need solid business intelligence and data analytics to effectively compete.
And trying to manually manage your data probably makes you feel a lot like a salmon swimming upstream. You’re getting nowhere fast. Smart hotel managers recognize the advantages of embracing modern technology, relying on hotel management software to streamline operations and make more effective use of analytics. Let’s look at ways hotel management software can help alleviate a few common revenue management maladies.
Cures Analysis Paralysis
Trying to keep up with the volume, variety and velocity of data is giving today’s revenue manager a perpetual case of “Analysis Paralysis.” Or just as bad, they flip the well-known Pareto Principle on its head, using 80% of their time to input and organize figures among reams of Excel spreadsheets, leaving only 20% of their time to analyze those numbers. Automating your number crunching is no longer a luxury. It’s essential for evaluating your hotel’s true performance. The best software speeds up the entire process, improving efficiency, eliminating errors and forever curing Analysis Paralysis.
Improves Your Vision
Many hoteliers look at the same Key Performance Indicators (KPIs) that are crucial for effective hotel management and decision making. But good hotel software provides the opportunity to identify new KPIs that management may not have considered or didn’t have the bandwidth to focus on. Hotel management software lets you view data in multiple ways and easily drill down to specifics such as rate, room, campaign or origin. And when you combine those with market forecasting, your improved and expanded vision drives better overall results.
Heals Dry Reports
Robust software delivers business-critical insights via a rich visual display of hotel performance and forecasts. Clear graphics make it easier for the management team to review reports that unlock insights and analyze the success of brand campaigns and marketing strategies. This leads to more productive discussions and better decision making.
Energizes Your Relationships
From Airbnbs to that other hotel down the street, competition is fierce out there. It’s essential that you nurture your guest relationships or you risk your customers taking their business elsewhere. The right hotel software simplifies administrative and operations tasks, leaving you and your staff free to do what matters most: taking excellent care of your guests.
Interested in advantages the right hotel management software can bring to your business?