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Topic - Hotel Benchmarking

Hotel Benchmarking
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Hotel Benchmarking: How to Identify and Act on Opportunities to Grow Your Direct Reservations - By Fiona Gillen

Traditional hotel benchmarking generally focuses on comparing rates and occupancy, without shedding light on how the results came to be. Today, however, hotels can access new benchmarking technology that takes a fresh approach, providing real-time insights to help you break down the entire booking funnel and compare your hotel's direct booking performance to the competition.

Hotel Benchmarking
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How a Total Revenue Approach Can Benefit Your Hotel

Exploring and mining for revenue generation outside of rooms is a first step in getting back to profitability. By measuring and monitoring total revenue per available room (TRevPAR), hoteliers have the ability to take a magnifying glass to all revenue sources and identify both underperformance and outperformance. Above all, it can reveal revenue opportunities to help carry a hotel out of the pandemic carnage.

Hotel Benchmarking
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4 Reasons GOPPAR Should Be on Your List of KPIs

Looking for a hotel KPI that’s guaranteed to support a stronger hotel performance plan? Try gross operating profit per available room (GOPPAR) on for size. Sure, the top line matters—you can’t turn a profit without revenue—but the bottom line is a true measurement of all hotel revenue and expense. That’s where GOPPAR becomes the gold standard of hotel KPIs.

Hotel Benchmarking
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6 Tips for Benchmarking Your Way to Success

Like it or not, your hotel is in the middle of a race with the competition - although the current hotel climate may feel more like an obstacle course. Wouldn’t it be nice if, during this ongoing marathon, you could peek across at competitors, note their positions and analyze the techniques, equipment and other factors propelling them forward?

Hotel Benchmarking
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6 Ways Hotel Benchmarking Can Help the Hotel Industry Rebound

The hotel industry won’t emerge from the financial chasm caused by COVID-19 overnight, but recent data already points to a rebound. Benchmarking could help quicken the pace of recovery. As the hotel industry continues to thrash its way through the pandemic, hotel benchmarking has the power to not only keep hotels afloat, but also help lift the sector to solid financial ground once again.

Hotel Benchmarking
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How Operational Efficiency Leads to Optimal Profitability

In the hotel industry, the deeper decision-makers can drill down into departmental figures, the easier it is to generate revenue, chisel away at unnecessary costs and post a healthy profit. Simply put, the best decisions are driven by in-depth analysis of departmental revenue and operational costs. Sound like too much work? Analyzing these critical figures and unlocking higher profits may be easier than you think.