In today’s competitive market, your hotel’s long-term success depends on how well you make informed business decisions at the right time. To uncover trends and opportunities, you must consistently analyze profit and loss reports, business analysis reports, market analysis reports, and many more. Manually generating such data is no easy task. Plus, you will find it even more complicated when you have a chain hotel to run. Without the right property management system, you can’t access accurate and up-to-date reports on various aspects of your group hotel. And when you can’t see what is working for you and what is not, you will never be able to make the right decisions at the right time to correct the course of your enterprise. This blog will look at how an intelligent multi-property management system can help you generate several insightful reports for your enterprise hotel business.
Another essential point to consider is that it would be highly beneficial if your Hotel PMS lets you centrally access some of the multi-property reports. Because if you can’t access those system-generated reports on your member properties at your central/corporate office, you will be wasting time collecting the same from each of them over the phone or via email.
Now let’s look at some of the must-have reports –
Hotel Performance Comparison Report
When you have five hotels in your group, you must have the right tool to see and compare the performance of each of them. For this, your Hotel PMS helps you with Hotel Performance Comparison Report. With this report, you can analyze the performance of your member properties on several parameters and KPIs. This lets you know if Hotel A, B, and C are doing well in occupancy, revenue, and other indicators. You will also see why the other properties of your group are not doing good business. In this context, you gain insights on what impacted the business with lots of relevant data and fix your mistakes by making the right decisions. It could include – changing room rates, targeting the right audience, and many others. Be it positive or negative performance at the property level, the Hotel PMS allows you to access these reports at the corporate office.
Management Information System (MIS) Report
A centralized MIS report can help you view the generated revenue (today, month-to-date, and year-to-date) from each of your properties. You can also view and compare revenue for the last month/year on an individual hotel or all the hotels in your group. MIS reports come as a summarized view of different verticals that you need to monitor and understand very critical metrics like the profit and loss of your group hospitality entity. It pulls out information from all the areas of your hotel department, including front office, food & beverages, finance, account receivables, purchase, etc. Armed with all these data, you can compare and analyze the performance of your enterprise to ensure better planning and faster decision-making.
History & Forecast Report
The History and Forecast Report offers you clarity on past occupancy levels along with the future occupancy level (for up to three months) that you may witness across all your properties. You can view any date’s total occupancy, arrival rooms, departure rooms, complimentary rooms, occupancy percentage, room Revenue, RevPAR, ADR, etc.,
Manager Flash Report
This report consists of a clear synopsis of your enterprise hotel’s daily statistics – room revenue, revenue from F&B and other minor operating departments, occupied rooms, available rooms, no-show rooms, canceled rooms, complimentary rooms, and average room rate, etc. Not only this, but it also tells you about inclusions and add-ons and room revenue (with cancellation charges) for the current year and last year as per day, month, and year.
When you act upon those reports mentioned above, you are bound to witness several benefits –
- Better communication and collaboration
- Faster identification of problem areas
- Improved, on-time decision-making
- Enhanced overall productivity
- Increased cost savings and revenues
All these critical reports are shared with respective department heads and the property’s general manager. Moreover, they are also sent to the corporate office for the central team’s consideration. For many data-driven hoteliers like you, these reports are compulsory morning read before getting down to the daily business and operation. A cloud-based multi-property solution like Hotelogix doesn’t only generate these reports; it also helps you in auto-scheduling to ensure that the Hotel PMS emails these reports to the relevant decision-makers for actionable insights.
