It’s tough for small accommodation providers. You have a limited budget, and need to be smarter about where you allocate your money.
But how should you plan your budget, and which metrics should you look for to measure your return on investment (ROI)?
When planning your budget, your report should include:
If the budget was in line with actual costs, that’s great. Think about how you can further capitalise on it.
If not, then document why you think there was a difference – was it a matter of timing (it will happen at some point in the future), or was it permanent (it won’t happen at any point in the future)?
But without advanced reporting, you won’t be able to calculate your budget, or see the return on your investments.
Without this visibility, you won’t be able to make pricing decisions that are based on one of the most fundamental principles of economics: supply and demand.
How easy is it for you to generate a report of:
Without a reservation system, you will probably be struggling to manipulate data in Excel spreadsheets using formulas.
Besides taking up a heap of time, one human error could mess up your whole spreadsheet!
With an online reservation system, it’s easier to slice and dice your data, exporting it if need be.
A modern system will display it to you visually and allow you to print it out.
You can spend more time making sense of the data and deciding what to do with it, instead of painstakingly manipulating it in Excel documents.
For example, Little Hotelier lets you generate reports for:
You can also get a detailed report of your revenue, check-ins, extras, and payments for any date range.
“Little Hotelier has revolutionised the way we do business… I love the reports – I can measure the effectiveness of my online channels and I can even print out housekeeping reports.”
– Mick Comerford, The Mercantile Hotel
Make sure your all-in-one reservation system can track the revenue-related metrics that matter.
If you’d like to see Little Hotelier’s reports in action, watch our detailed demo videos.
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