Boutique Accommodation Reporting Rhythms
Hotel Reports That Should Be Utilised By Small Accommodation Providers To Get More Revenue
As you may expect, small accommodation providers do not have the room to make mistakes which are as many as those that may be made by the bigger hotels.
The small accommodation providers need to be cautious with how money is allocated, which may be a challenge when one cannot access advanced reporting. Advanced reporting is necessary for the calculation of one’s budget as well as viewing the return on investments.
As such, a good hotel reservation system ought to provide the following essential hotel reports to you:
A transactions report is vital when you need to know the way your business works, so that you may use the best approach when carrying out business.
For example, with a good transactions report, you can determine the best payment methods for your hotel, as well as know when your business is high versus when it’s low.
You should be in a position to view as many details as possible, that is related to your payments and reservations. In short, you should be able to see the following:
- Amount of check-ins
- Amount of check-outs
- Payment methods used
- Amount of cancellations
- Amount of check-ins that are pending
- Amount of check-outs that are pending
- The average unoccupied rooms
It’s unavoidable that small accommodation providers need to track various measures which will enable them to know how good their business is performing. With a comprehensive statistics report, you should be in a position to see the following:
- Revenue for each available room
- Number of canceled reservations
- Number of occupied, unoccupied, and closed rooms in a night
- Average occupancy, revenue per booking, the length of stay, lead time and daily rate.
The above statistics should help you know whether your business is improving over time, or not when measured.
Booking Channels Report
The one report you cannot leave out is the booking channels report as it helps you to manage your revenue in the right manner.
This is because it enables you to view your revenue streams, from the websites you use to advertise your property, to your sales and marketing efforts.
You, therefore, need to create a report of the following items to know what is working and what isn’t:
- Direct reservations: Amount of reservations and the total revenue.
- Extranet reservations (Entered manually): Amount of reservations and the total revenue.
- Booking channels: Amount of reservations and the total revenue.
With the above observations, you should be in a position to make perfect pricing decisions which are based on the most fundamental principles of economics, (Supply and Demand).
Hotel Strategy Co. is a results-driven performance agency helping Hoteliers maximise the revenue and profits in their accommodation business.
We have a dedicated team of Revenue Managers, Distribution Managers, Number Crunchers, Online Strategists, Digital Marketers, Sales Managers and Performance Optimisation Specialists, waiting to work hard for you.
Offering a range of virtual outsourced services like:
- Feasibility Studies
- Online Optimisation Projects
- Revenue Management & Pricing Support
- Hotel Messaging & Marketing
- Distribution Advice
- Corporate Sales Development & Training
- Technology Transition Projects
- GDS Reviews and Optimising
We customise our services for every client, with a clear focus on delivering a return on investment.
If you think it’s time to get some extra help to grow your accommodation business contact us today.
The 80% plus Occupancy Elevator – our Hotel Growth System packaged into an online course and resource hub.
5 Simple Success Strategies for running an accommodation business.
Hotel Health Check the 22 point audit of your hotel’s performance with benchmarking indicators of how you stack up against the market
Outsourcing key hotel functions like Revenue Management can be better value for money than hiring full-time