The path to operational excellence may seem like a daunting one — you know you want to save time and money while improving the guest experience, but how do you get started?
One way to help you gain a better understanding is through property analysis. By having the ability to examine everything — from guest interactions to facility expenses — you can see how your properties are really doing. Without this visibility, you are stunted from achieving operational excellence.
Here are a few ways to recognize if you are lacking true visibility into your business data:
1. You don’t have the ability to use reporting functions in your reservation management system.
The biggest opportunity to gain visibility into your property’s data is through reservation and property management system reports, which can provide detailed information on your booking rates, maintenance costs, and more.
But if your management system does not offer reporting, the insight you have into your operations is falling short. You’re missing out on information you should be able to easily access.
For example, at the end of the season, you may have to estimate whether or not you met your booking goals, calculate the amount you made from your facilities, and manually evaluate the time your team spent working to see your property analysis. Each of these steps would be unnecessary when using an all-in-one solution with reporting tools, as these reports could quickly be found and analyzed.
2. Your property analysis is not configurable.
If you have reporting tools within your management system, but they don’t allow you to build customized reports, you’re losing out on data visibility.
The insights your property needs differ from the insight needs of others, which means your reporting should be flexible to provide whatever data round-up you require.
If you are unable to customize the reports specifically for the types of insights you need, perhaps you’re lacking data visibility for reports that could help you improve your property analysis.
3. You can’t group or identify your visitors.
If you’re unable to group your property visitors by their age, location, or other relevant information, you’re missing out on creating a number of personalized aspects in their experience. By being forced to provide your guests with the same experience, your future marketing and reporting efforts, audience segmentation, and more are negatively affected.
This alone causes a significant drain on your hospitality data visibility. You already house all of this demographic data, but the inability to pull further insights limits your growth potential in this area. For example, robust, configurable reports may reveal that of the individuals who reserved a campsite with you over the last 90 days, a majority came from within 50 miles of your property. Without this data, you miss out on the opportunity to geo-target your future marketing efforts.
4. You can’t see financial trends or property expense reports.
Expense reporting is one of the most common ways to gain insight into financial operational status and opportunities, which makes accessing this hospitality data incredibly important for your property analysis.
If you are unable to monitor your property expenses, create correlations, and find areas for improvement, you could be missing facility flaws, unnecessary expenses, and other concerns that are creating avoidable costs for your property.
For example, Sunland RV Resorts prevented losing over $96,000 after recognizing the need to monitor expenses through their management system to catch utility irregularities.
5. You’re unable to see cross-property details.
You may have the ability to see everything you need for a single property analysis through your current management system — but can you see all of your properties at once?
If not, you’re missing out on a holistic view of your actual data landscape, which stunts your data visibility.
In order to ensure you’re on a path toward operational excellence, you’ll need a consistent, updated overview of everything — not just siloed views of data from one location.
How Hospitality Data Visibility Can Help You Reach Operational Excellence
With the ability to create and save accurate, up-to-date reports on your properties, you can increase your awareness of everything that occurs — and by noting the metrics that matter most to you, you can ensure your property stays on track to maintain operational excellence.
A holistic overview of your properties’ hospitality data can help you elevate your guests’ experience, improve communication, empower your employees, oversee your expenses, and more.
Discover how the right reservation and property management system can improve your day-to-day experience by downloading our Operational Excellence in Hospitality ebook today!