Will your hotel meet it’s 2014 revenue goals?

hotel- revenue-goalsWith the summer travel season in full swing, it’s easy to overlook that we’ve reached the midpoint of 2014. We know the summer months are busy for many independent hoteliers, but this is the perfect time to examine your annual progress to date so you can dissect any shortcomings and recalibrate expectations. Developing an annual plan and regularly monitoring your progress is important for staying on the path to long-term growth and success.

Whether you set 2014 business goals or not, it is never too late to develop a framework for improving your hotel’s performance. Below are questions that will help hoteliers evaluate their business and determine if they are on-track for a successful year. And for hoteliers who identify opportunities for improvement, we will explain how innRoad’s hotel management software can help your hotel maximize its potential for performance and profitability.

Operations and Property Management

  • Generally speaking, is your hotel on-track for a successful 2014? How does 2014 compare to last year?
  • Is your current hotel management system, or manual management methods, allowing your hotel to operate efficiently? For example, can you quickly process reservations, check guests in and out, and run housekeeping reports?
  • Do you have procedures in place to handle a technical emergency? Do you regularly back-up your hotel’s data? Do you have 24×7 access to a technical support team?

Guest Experience

  • Are you attracting more guests in 2014 than in the previous year? If so, what percentage of your guests are new? What percentage are returning? If not, what is limiting your performance?
  • How are guests finding your hotel and booking reservations? Are you featured on Online Travel Agent (OTA) sites, like Expedia or Booking.com? Are guests booking reservations directly through your website?
  • Are your staff members able to spend enough time with your guests, especially during busy periods, or are they devoting more time than you would like to routine tasks?

Overall Performance

  • How does your year-over-year Average Daily Rate (ADR) compare against 2013? Are you satisfied with this rate or can you charge more without compromising Occupancy?
  • Have you been able to maintain healthy Occupancy without dropping your room rates too low? Has Occupancy suffered at any point this year because your room rates were too high?
  • Are you generating more Revenue Per Available Room (RevPAR) versus 2013? Are greater profits flowing through to your bottom line or are you spending more on sales and marketing to achieve higher RevPAR?

In the questions above, we touched upon some of the most important and complex components of the hotel business. Hotel operators don’t have the luxury of managing just one task, they must be knowledgeable of various inter-connected disciplines, from operations to revenue management and marketing. This is a challenging order for even the most seasoned hotelier without the proper tools.

This is why innRoad provides a cloud-based, fully integrated hotel management solution specifically for independent hotel operators. Our hotel management software puts busy hoteliers in complete control of their property’s performance, from enhancing daily operations to curating the guest experience.

Our hotel management software is cloud-based, so there is no need for specialized equipment or a lengthy installation process. If you have an internet connection, you can manage your hotel on our Access Anywhere platform from wherever the work day takes you. innRoad’s intuitive design and easy-to-use functions simplify and streamline Property Management responsibilities, so your team can devote more time to your guests instead of working behind their desks.

innRoad’s Global Distribution Services and Booking Engine attracts new guests from around the world. With innRoad, your hotel will be showcased on leading OTAs – immediately increasing opportunities for bookings. And our Booking Engine gives you the power to capture commission-free reservations directly through your existing website.

Our Hotel Revenue Manager optimizes your hotel for maximum performance and profitability, so achieving your annual ADR, RevPAR and Occupancy goals will be an attainable and realistic task.

innRoad’s Data Security features ensure your sensitive data will never be lost or compromised. All of your information is encrypted while stored in the cloud and then backed up in two off-site data centers for optimal protection. And 24×7 access to a dedicated Implementation Manager, as well as our Technical Support team, will allow your staff to get the most out of innRoad’s hotel management software.

As a partner to the hotel industry, our goal is to help independent hoteliers achieve their annual and long-term performance goals. Learn more about innRoad’s capabilities by taking a free tour of our hotel management software. Enjoy the summer and good luck during the second half of 2014!