NEW RATEBOARD FEATURE 🎉

Hotel data analysis made easy:  Forecasting & period comparisons

Hotels have one of the most valuable resources of all: their data. Every day, PMS, channel managers, and other systems generate a wealth of information about bookings, rates, segments, and guest structures. Used correctly, this data will be a key factor for success.

Knowing how revenue, ADR, RevPAR, and occupancy are developing is the basis for better decisions and greater profits. Those who recognize trends early on, correctly assess developments, and take timely action gain a clear competitive advantage.

In the fast-paced world of hotel management, there is often no time for complex analyses. Many hoteliers struggle with confusing reports and a multitude of key figures. This is exactly where the new analysis and forecasting features from RateBoard come in. Whether you run a leisure hotel, hotel cooperation, city hotel, boutique hotel, or a small guesthouse, these features make complex hotel data understandable and directly usable, so that numbers can be turned into real action.

Hotel data analysis for daily operations

In everyday business, the quick and reliable use of hotel data determines efficiency and profitability.

Imagine sitting in your office in the morning and looking at the booking figures for the last few days. Between PMS, channel manager, and Excel lists, you need to keep track of revenue, occupancy, and room categories. Which rates have really worked? Which rooms are currently in high demand? Which destinations are generating the most interest? And how are your latest pricing decisions affecting your hotel's occupancy?

Hotel data analysis provides all relevant answers without having to spend hours poring over reports. The most important key figures can be quickly identified and used specifically for operational decisions, such as:

• Revenue, ADR, and RevPAR in a 2-year comparison: Track current developments at the hotel, for example, since the implementation of revenue management.
• Popularity of individual room categories and source markets: See which rooms are in high demand and which destinations generate the most interest.
• Rate development for individual room categories: Understand how prices have changed over time and what impact this has had on rooms sold. (We highlight typical pricing errors and how to avoid them in the article “3 pricing errors hotels make every day”).
• Impact of price changes on occupancy: Identify how higher or lower rates affect room occupancy over time.

Forecast: Guidance for operational and strategic decisions

Forecasting is a key tool for assessing sales and occupancy trends. Forecasts reveal trends early on, make fluctuations predictable, and enable informed decisions. Even without in-depth revenue expertise, they can be used to derive operational measures and support long-term planning.

Imagine being able to see at a glance how the most important key figures are likely to develop over the coming weeks or months. On this basis, specific measures can be derived, such as adjusting prices, targeting promotions, or planning marketing activities.

Forecast in RateBoard

In the RateBoard revenue management software, the forecast provides daily predictions for the selected KPIs over the next 12 months. As the market leader in RMS and part of the Zucchetti Group, RateBoard is able to draw on an enormous pool of data. This gives our data science team, and therefore our hotel customers, a decisive advantage. In addition, the intelligent model automatically evaluates the quality of the available data and only displays the forecast when the data situation is stable.

Important to know: A forecast for the real world can never be 100% accurate, as the future is uncertain by nature. It provides guidance which always should be combined with the hotelier's valuable expertise, experience and realistic perspective. In this way, forecasts support operational decisions and facilitate the transition to strategic planning.

Relevant developments in period comparison

In addition to day-to-day business, strategic planning plays a crucial role in the success of a hotel.

Measure the success of your efforts by truly understanding developments rather than just looking at numbers. Imagine knowing which marketing campaigns have the greatest impact on your bookings, which seasonal peaks have shifted, and how your customers' booking behaviour is changing.

Comparing individually defined periods helps to identify developments at an early stage and base strategic decisions on reliable data. Examples of valuable insights include:

• Analysis by flexible periods: Evaluations are not tied to fixed time periods, but enable targeted insight into periods that are actually relevant. This means greater flexibility instead of standard reports.
  
• Identify vacation and holiday trends: Developments, such as those during the Easter holidays, can be directly compared with previous years. This allows you to identify and specifically address declines in bookings, changes in booking behavior, or unexpected demand.
• Impact of marketing campaigns: Understand which promotions, special offers, or price changes have led to a measurable increase in bookings.
  
• Optimization of prices and revenue: See which pricing strategies have been successful in specific periods. This allows you to reuse existing strategies or adapt them as needed.

From analysis to action

Analyses only deliver real added value if concrete decisions can be derived from them.  Based on the evaluated key figures and questions, prices can be adjusted in a targeted manner, short-term promotions can be placed, or resource planning can be optimized.

At the same time, the data supports strategic decisions, such as the timing or planning of marketing campaigns, the efficient management of personnel deployment, or the development of long-term, data-based revenue strategies. In this way, figures are not only evaluated, but also become a practical tool for strategic planning.

Important information at a glance: the new RateBoard feature

"With our new feature, we want to give hoteliers direct access to their data. The focus is on ease of use and intuitive usability. This means that state-of-the-art analysis and forecasting methods are now accessible to every hotel, regardless of experience or team size."

Eva Pfister,
COO RateBoard

 

Conclusion: RateBoard makes complex data understandable, trends visible, and KPIs immediately tangible. Decisions can be made faster and revenue performance can be improved in a data-based manner.

Would you like to learn more about RateBoard and the new analysis and forecasting feature?

Schedule your personal demo now.