Give data a chance!
In a tough market for hotels & hoteliers, hoteliers have been offered an expanding arsenal of tools to drive operational excellence and focus more on serving the guest and meeting their needs. There is nothing more important than a pleasant guest experience but there is no way of doing that without understanding the guest. At the same time, it’s increasingly important to keep the corner of the eye on top line growth and balancing it with profits driven by ancillary sales without coming off as too pushy to the guest. So to summarize:
- offer great guest experiences
- while selling more to the guest
- and keeping expenses low
- but increasing revenue
This seems like an impossible ask and one has to tread carefully not to pull too hard on any one of these levers and collapse the entire operation.
Before any of this can happen, one must have fine control over all the operational and analytical metrics required to make informed decisions that can change the habits of your staff, the agencies you work with and your guests. A good hospitality management system will handle all your operational needs while a great solution will tell you how to improve operations.
This is where data comes in. A 90 room hotel with an average occupancy of 70% with 10% returning revenue is generating approximately 1 million data points in a year. This wealth of data is usually compressed into a few metrics for the hotel like TREVPAR, Occupancy and ADR. Is this really sufficient to track your business and identify opportunities for growth?
At Cenium, we prize on complex multi-property establishments where each property can have several P&Ls. This leads to revenue being generated from multiple sources where room revenue is just taken for granted and a medium to unlock other potential sources like Spa, Activities, Rentals e.t.c. To truly understand the intricacies of the business, revenue managers, sales & marketing and GM’s alike should be able to inspect key metrics from the chain perspective and drill down all the way to the customers.
- How am I doing against my goals and what are the factors dragging me down?
- Which company books a conference every year but did not bring their business to us this year?
- What is the day package revenue per square meter of space used for upcoming conferences?
- Who are my top 10 customers this year and how do they compare to last year?
- What is my CLV by market segment?
These questions and more can be answered easily using Cenium Analytics. Cenium Analytics provides a business lens into the operational data so that users get a real-time, actionable and robust view over the entirety of the business with the flexibility of personalizing the reports and dashboards to quickly extract the insights that help you succeed.
Cenium Analytics sources all the relevant data from your operational above-property systems and contextualizes it into comprehensible business terms every hotelier is familiar with. Using Power BI’s industry recognized and widely adopted visual analysis capabilities, this data is ready to kick start your expedition into finding the golden nuggets to boost your top and bottom line income. Interested in seeing the average Customer Lifetime Value and comparing it for different Tour Operators? A few clicks and you are there.
With ready-to-go dashboards to enable you to get an overview of your sales to empty canvases for letting your inner dataphile loose, Cenium Analytics offers it all.
Reach out to us if you’d like to see this in action and discover how it can help you uncover actionable insights from your data.
