Shoulder season provides independent hotels with a great opportunity to build upon a busy summer by gearing up their operations to ensure a successful holiday travel period and strong start to the New Year. Here are a few ways independent hoteliers can utilize shoulder season to enhance daily operations:
Check your numbers
Some hoteliers rely on their “eyes and gut” to tell them when business is going well and when times are tough. Having a feel for your hotel’s operations is always helpful, but analyzing your numbers the only true way to gauge your hotel’s performance. Shoulder season is the perfect time to analyze year-to-date metrics and forecast year-end performance. Analyzing performance metrics, such as ADR, RevPAR and occupancy, fixed and variable costs, and historical data will provide an honest assessment of a hotel’s financial health. With this information, hoteliers can better forecast how their property will perform through the holidays and into the New Year.
Engage your team
Keeping team members engaged is critical to maintaining a productive work environment, so hoteliers should look to utilize shoulder season for all-team and one-on-one meetings. These meetings should be used to communicate the overall state of the business, including summer successes and opportunities for future improvement, and individual plans to improve team member performance. Keeping hotel team members engaged and in-tune with the business helps create the cohesion and focus independent hotels need to drive long-term success.
Plan for 2017 and beyond
Where will this hotel be in 5-10 years?
Will it need extensive renovations and repairs in the coming years?
Does it have the tools and technology in-place to grow over the long-term?
These are the type of questions that independent hoteliers with long-term vision regularly ask themselves and work towards answering. If you haven’t spent much time thinking about the long-term future of your hotel, this shoulder season is a great time to start. Resources, like the CapEx 2014 research study, are available to help independent hoteliers conduct research and develop the framework for a long-term, strategic plan. In regards to hotel technology, innRoad is always available to help independent hotels drive their business forward. Simply click here or call 1-855-INNROAD to speak with an innRoad expert who can help put your hotel on the path to long-term success.