NATIONAL REPORT—You can’t sell yesterday’s room today. Waiting for end-of-month reports to make decisions only ensures money will be left on the table. To make matters worse, many operators don’t close their books until the end of the following month, which means hoteliers are making decisions using months-old data.
In a world obsessed with access to instant information, why should it be different for hotel managers? Smart management companies know that real-time data is key to driving higher profits and guest satisfaction. As ownership groups increasingly demand more from their operators, management companies that don’t adapt will be left behind.
Without access to real-time data, managers can’t make the decisions that will make the most money today. It’s a safe bet that if you aren’t looking at today’s data, your competition is and they will be taking advantage of opportunities you missed. Put another way: If you can’t react fast enough, your competition will simply take potential business away from you.
One Centralized System
The trouble starts when data can’t be easily and quickly accessed. You can’t make time-sensitive decisions if you’re waiting for someone to email you a spreadsheet or budget report. Centralized data systems eliminate the middleman by providing secure access to information to those who need it. Timely data leads to more accurate and reliable forecasting in a way that an emailed spreadsheet can’t provide.
Focus on the Data, Not the Paperwork
In a 24/7 business like the hotel industry, you need to dedicate your time to what matters most. But all too often, you can get bogged down in paperwork. When that paperwork is cut out or drastically reduced, you can focus on daily operations that save money and increase customer satisfaction.
Centralized timely data helps your team make decisions that drive cost savings. For instance, labor is often a hotel’s most expensive operational expense. Access to real-time occupancy data will help you accurately forecast labor needs leading to greater efficiencies and higher profits. You can’t do that if you’re looking at reports that are two months old.
Get Ahead of the Competition
Think of it this way: The hospitality industry was slow to integrate email services into their management systems. Looking back, it’s hard to believe there was any hesitation or resistance considering how important it has become for the business. We believe it will be the same with centralized data systems. By taking a leap now, management companies will benefit from increased profits and guest satisfaction well ahead of their competition.
Broadvine is a team of technology and hospitality experts with a mission to deliver hotel business insights in an easy-to-use, web-based SaaS environment. Our application eliminates the time and expense associated with organizing data from multiple properties, enabling companies to analyze the resulting data and improve the profitability and operations of their properties.
For more information about the Broadvine suite of tools, visit www.broadvine.com.