The technology available to hotels and campsites today creates opportunities for the hospitality industry to collect and employ data and statistics. Why is this data important? Well, with the right information, your business can:
– Create a better guest experience
– Stay a step ahead of competitors
– Book more rooms, conferences and activities at the right price
– Increase profitability
So which data is the most relevant to employ to achieve these improvements? Let us guide you through three tips that can get your business a step ahead.
Filling your rooms or campsites at the right price and at the right times is what keeps you competitive. To do this effectively, you need to analyze your occupancy rate. What does the market look like in the coming months? The first step is to anticipate the upcoming demand and price your services accordingly. For example, is there a major event taking place in your area? Does the upcoming summer season attract more guests than usual? In cases like these, you can raise your prices slightly to increase profitability. You can also analyze your occupancy data from previous years to get a clearer picture of which months, dates, or weekends attracted the most visitors. It is also possible with the help of AI to assess upcoming demands and set the right price for a given time in conjunction with your booking system.
In addition to peak seasons, you can also optimize your low season periods with the help of data. Analyze the periods when your demand was lower and then price more competitively during these periods to increase your occupancy rate.
As you can predict high or low demands on your business in advance, you can also plan your purchases and costs accordingly. One option is negotiating prices with your suppliers. If there is a high season where you are more likely to serve more hotel breakfasts, you should be able to buy more but at a lower price per unit. In addition, you can plan to buy less of a given product in a low period to reduce your wastage. As an example, by analyzing the statistics from the previous year, you could see how much cheese was consumed at the hotel breakfast and plan your purchases accordingly.
By segmenting your guests’ data, you can learn more about the type of guests booking at your facility. This can be done in different ways, but the goal is to collect as much data about your guest as possible. Are there more families or couples booking with you? Do most of your bookings come via your own website or via, for example, Bookings.com? By analyzing this data, you can create effective and targeted campaigns towards the type of guest who is most likely to book a stay with you at the right price.
Use the data when planning your advertising or to sort between marketing channels and OTAs. You can also use your knowledge of your guests to improve the guest experience at your facility. If there are many young couples visiting you, you can think about how to create an environment where young couples want to return, and ideally inspire them to leave a favorable review for other potential guests to read.
Much of this data can be retrieved from VisBook’s PMS. We also have pre-integrated partners who can retrieve and analyze relevant data for you. Look closer at our partners or contact us to better understand VisBook’s PMS and its various components.