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Posted on May 29, 2024 | All

Hospitality Analytics to Boost Sales Team Performance

Introduction

Property management system analytics is the strategic approach that involves measuring and monitoring supply and demand through data and analytics to predict consumer behavior. Hospitality data analysis allows hotels to make informed decisions on promotions, pricing, and distribution channels to optimize revenue.

Integrating property management systems with hospitality analytics can revolutionize hotel revenue management. By visualizing performance across multiple locations, hotels can create unified dashboards that compare variables, understand strengths and weaknesses, and track performance metrics.

For instance, when looking at multiple properties, hotel management typically first examines revenue, which is categorized into room revenue (from rooms), food and beverage revenue (from restaurants and room service outlets), and Minor Operating Division revenue (from laundry, spa, gym). Creating a holistic view enables the sales and marketing team to craft targeted pitches and personalized campaigns, boosting sales and enhancing guest experiences. Industry-standard reports can also include business source contribution analysis, night audit reports, manager’s reports, room occupancy statistics, and market segment breakdown.

Benefits of an Integrated Hospitality Analytics Solutions

Hotel bookings can come through various channels such as central reservation systems (direct booking), online travel agencies, regular travel agencies, and walk-in registrations. Understanding the source of your business (known as the business source) is crucial, along with the segment it comes from. This can help renegotiate contracts and optimize revenue, a key aspect of contribution analysis.

Also, banquet halls are often booked for company events like annual gatherings, team outings, and employee engagement programs, all of which are recorded in the system. For example, if a company typically holds an annual event in March but has not inquired by February, the sales and marketing team can be alerted. This proactive approach enables them to create a targeted lead generation strategy, improving the sales funnel and potentially boosting revenue generation.

It’s unrealistic to expect salespeople to remember these details, which is where automated, consolidated reports come in. These reports can be used to target sales plans for each quarter, plan ahead, and improve the chances of making a conversion.

Moreover, customer feedback, such as preferences for certain types of food, can be used to create customized marketing campaigns, enhancing guest experiences and driving revenue. The integration of property management and analytics provides a comprehensive solution for hotels to optimize revenue generation and streamline operations.

Read this case study to know more about how CI Global assists hotels in leveraging this integration to achieve their revenue goals and improve operational efficiency. By combining property management data with advanced automated analytics, CI Global helps hotels gain deeper insights into their business performance, identify revenue opportunities, and make informed decisions.

Learn how CI Global’s expertise and support enable hotels to enhance their revenue generation strategies and deliver exceptional guest experiences.

Client Background:

A group of hotels with multiple locations sought to improve revenue generation and streamline their sales team’s performance. They also wanted to create customized marketing campaigns focussing on customer preferences to boost engagement and profits. The hotel management team faced challenges in consolidating reports from various properties, leading to increased manual efforts, incorrect data, and delayed decision-making.

With each property using its own on-premise property management system (PMS), the management team struggled to understand the performance of each property in one go. The process involved employees at each property downloading reports and sending them to the corporate office, where the finance team consolidated the data. As the number of properties increased, the manual efforts and chances of errors also rose. Delays in report preparation were common, especially if the right personnel were unavailable, leading to further inefficiencies in decision-making and analysis.

Challenges:
  • Manual consolidation of reports from different properties.
  • Lack of real-time data accessibility for management.
  • Limited insights into business sources and market segments.
  • Inefficient sales performance analytics and marketing efforts.
Solution:

CI Global’s team proposed implementing hospitality analytics to address these challenges. By leveraging analytics tools, the client could automate report consolidation, gain deeper insights into revenue sources, and enhance the sales team’s performance.

Implementation:
  • CI Global’s team assisted in setting up the analytics system.
  • Provided user support ( 6 weeks) for a smooth transition.
  • Collaborated with the client to understand their specific requirements.

Key Features and Benefits:

  • Automated Report Consolidation: Instead of manual efforts, the system automatically consolidated reports from different properties, saving time and reducing errors.
  • Contribution Analysis: Analyzing revenue contribution from room revenue, food and beverage, and minor operating divisions helped in better decision-making.
  • Business Source Identification: The system identified booking sources, such as online travel agencies, regular travel agencies, and walk-ins, enabling targeted marketing efforts.
  • Segment Analysis: Understanding market segments allowed for tailored marketing campaigns and strategic planning.
  • Improved Sales Targeting: By providing the sales team with a targeted lead list based on past revenue sources and potential opportunities, sales efforts became more focused and effective.
  • Customized Marketing Campaigns: Feedback from customers, including likes and dislikes, was used to create unique marketing campaigns.

Results:

Effective revenue management practices can lead to a 10% increase in revenue per available room (RevPAR) for hotels. This statistic demonstrates the tangible benefits that data-driven insight have brought to hotel revenue improvement efforts.

  • Improved revenue generation through targeted sales efforts.
  • Enhanced efficiency in report consolidation and decision-making.
  • Better understanding of market segments and business sources.
  • Increased user adoption and satisfaction with the analytics system.

Leveraging Hospitality Analytics for Enhanced Revenue and Operational Efficiency

By implementing hospitality analytics, the group of hotels improved revenue generation, streamlined operations, and enhanced the sales team’s performance. CI Global’s support and expertise were instrumental in achieving these outcomes, demonstrating the value of data-driven insights in the hospitality industry.