Today's Revenue Management thought:-

Diving deep into your data… , this week, I will initiate discussions on diverse facets highlighting the significance of data in the hospitality industry. While the adage "garbage in = garbage out" is familiar, it prompts reflection on whether we genuinely comprehend the nature of the data entering our systems in the first instance.

Accessing & Reporting Data: Accessing and reporting data efficiently is crucial for informed decision-making in hospitality. 

• Property management systems (PMS) and customer relationship management (CRM) software facilitate access to real-time data for hotel staff. 

• These systems generate reports on key performance indicators (KPIs) such as occupancy rates, revenue per available room (RevPAR), and average daily rate (ADR).

• Analytical tools and dashboards allow hotel managers to visualise and interpret data, identify trends, and make data-driven decisions to enhance operational efficiency and guest satisfaction.

Keep it structured !

Have a profitable week !

✌🏼