2018 mid-year check-in: How’s your independent hotel performing?

With six months down and six more to go, now is a great time to take a close look at how well your independent hotel is performing in 2018.  Here are a few key areas to explore and helpful tips to help you evaluate your property’s performance and position it for a successful second half of the year.

Guest Satisfaction

Maintaining a high level of guest satisfaction is critical to a hotel’s success, so it’s important to keep tabs on guest happiness to ensure your perception aligns with their reality.  Many properties rely on guest surveys conducted online or via email to gauge how well they’re taking care of their guests.  Another way to capture guest opinions is to read reviews on sites like TripAdvisor and online travel agencies (OTAs).  Additionally, searching social media can yield valuable guest feedback.

However, a low-tech, yet still effective way to better understand the guest experience is to ask them in-person.  In-person manager check-ins and short exit surveys, verbal or written, during check-out can provide valuable, real-time insights that can be applied immediately.  No matter what guests have to share, it’s important to take their feedback seriously so your hotel can continue to meet their needs.

Team Member Performance

Keeping your team members engaged and motivated is essential to your guests having a great on-property experience and your daily operations running smoothly.  Your team members are who give your hotel its personality and provide its competitive advantage, so it’s vital that everyone is aligned and working toward a common goal.

Conducting performance reviews, on a monthly, quarterly or bi-annual basis, is important to keeping your team members on the same page. Whether you’re conducing the reviews personally or entrusting your department managers, this process is key to helping your team members reach their personal and professional benchmarks, as well as collectively achieving property goals.

Operational Performance Metrics

As the saying goes, numbers don’t lie, so your operational performance metrics will tell the most accurate story about how your hotel is performing in 2018.  Key metrics, such as average daily rate (ADR), revenue per available room (RevPAR), occupancy, labor costs and repairs & maintenance costs, will provide a solid picture of your hotel’s performance to date and forecasted bookings and revenue will provide a peek into the future.  By keeping close tabs on your performance metrics, you can ensure your hotel’s operations are optimized for high-level performance, as well as long-term profitability.

Let innRoad help your independent hotel maximize its performance in 2018, contact one of our experts today.