How to Improve Profits with Hotel Data Management?
In the hotel business, there are few things more valuable than data and at the same time, most
hoteliers are not able to use the data to improve the profits at their property. Every day, every
moment, a hotel business produces data. From the activities of the guests, to staff movements
in cleaning the rooms, and addition of new inventory to the kitchens, every activity is data. This
data can be further used by a professional management team to improve the performance of
various facets of the hotel’s operations.
Without a hotel management system, there is a chance that this information will be lost and
not generate any profits for the hotel. But with a reliable hotel software in place, this data can be
utilized to maximize profitability and improve guest experience through the property. The data
can be used to predict customer behavior, identify profit and loss making channels, add to
profits and much more. With the right analytical framework and the ideal tools, hotels can derive
actionable business intelligence from the data points.
Let’s dive in a little deeper to understand the kinds of data that can be utilized and how hotels
can make the best use of this data.
What Are the Different Types of Data that Can Be Collected?
This data can include basic information about distribution channels, duration of stay, room
history, abandonment rate, and more. Once you analyze the data, you will get a better
understanding of how your hotel property is performing and which areas need improvement.
You can find out which rooms are doing well in a particular season and price them accordingly
while highlighting those rooms in your marketing efforts.
Important data about the guests can range from demographics, guest’s preferences about food
and beverage, booking history, payment preferences, and contact information. This data can
help you to personalize services for the guests to enhance their experience at the hot