Duetto has published a special report, "Strength in Numbers," which highlights how hoteliers are slicing and dicing data in ways that are more insightful and can help move the needle on profitability. The report begins by showcasing how hotel revenue teams are synthesizing massive amounts of data with the assist of cutting-edge technology to analyze results in real time and make critical strategic decisions that maximize performance.
One example in the report hails from Germany-based Ruby Hotels, which discovered that 80 percent of its revenue comes on 30 percent of days throughout the year. With this insight, Ruby Hotels is now better able to maximize profitability on highly compressed days and nights.
Hoteliers in the report said their success has been contingent on aggregating and analyzing clean, strong data. It works only when the hotels embrace technology and understand what measurements are right for each individual hotel. Success is also dependent on good forecasting and interdepartmental collaboration.
“While some hoteliers tend to be nervous about giving too much exposure to data to people that may not fully understand it, good revenue teams don’t limit access to analytics,” one hotelier said in the report.
Once hotels have a clearer view of the best data and a better strategy to communicate and contextualize it, strategies to optimize revenue begin to fall in place, according to Duetto.
