metrics
Using Metrics — Other Than RevPAR — to Inform Better Business Decisions
HotStats | September 14, 2020
In the hotel industry, normality has been put on hold, requiring hoteliers and stakeholders to rethink how to move forward. One example is budgeting season, which is quickly approaching. Zero-based budgeting, a method of budgeting in which all expenses must be justified and approved for each new period, is now fundamental. This involves addressing the variable and fixed cost lines to protect the bottom line. Another is space optimization, which is gaining further relevance due to social distancing procedures and the like. How do we maximize the now-limited space in hotels? The issue is not necessarily being creat...
Benchmarking 101: Running an Effective Health Club/Spa
HOTSTATS | February 10, 2020
Health clubs and spas have taken off in recent years. Revenue for health clubs in places like the U.S. has risen steadily for the past decade. But when it comes to benchmarking your hotel’s health club or spa, focusing on these revenue numbers alone can actually cause your hotel strategy to crash and burn. Why? Health clubs and spas often come with high operating costs. This means that if you’re fixated on shallow revenue numbers, you’re only measuring the tip of the iceberg. Luckily, there’s a better way to launch your health club and spa benchmarking 101 strategies. Here’s how to use benchmarking to create real value with...
