Measuring hotel metrics beyond RevPAR with RevPAG

Right this moment’s main hoteliers are including a extra complete analytics metric into their efficiency assessments: Income Per Obtainable Visitor (RevPAG). Going past the restrictions of Income Per Obtainable Room (RevPAR) and Common Every day Charges (ADR), RevPAG measures how successfully hoteliers generate further property-wide income streams through the use of real-time data-driven insights to current personalised gives and experiences friends are apt to simply accept. This data-driven method not solely enhances visitor satisfaction but in addition boosts profitability by fostering loyalty and maximising spending. TDM lately held the Agilysys Hotelier “Revenue beyond the room” spherical desk on the Hyatt Regency Sukhumvit, Bangkok, Thailand, additional explaining the idea to the crème de la crème hoteliers of Thailand. The occasion was introduced by Tony Marshall, VP and MD Asia Pacific Agilysys and co-supported by Bousserind Comson, BDM, APAC, HotStats.

The timing couldn’t be higher for hoteliers to embrace new methods as 65% of APAC areas have reached pre-pandemic tourism ranges in early 2023. Including a efficiency metric that makes use of know-how to uncover hidden income streams and establish upselling alternatives friends will understand as personalised service slightly intrusive promoting is a brilliant enterprise apply.

Embracing data-driven metrics like RevPAG for holistic insights

Somewhat than limiting evaluation to filling bodily areas or optimising room income, fashionable views on monetary efficiency take into account potential earnings from eating, wellness services, onsite facilities, occasion areas, and different visitor experiences.

The hospitality business will profit as extra leaders undertake extra complete, data-driven metrics equivalent to RevPAG. When properties use information to supply experiences refined to every visitor’s preferences, distinctive companies and specialised moments enhance property extensive. Understanding friends extra comprehensively and personally will feed innovation throughout the total spectrum of visitor spending together with meals and beverage experiences, spa therapies, convention middle choices, parking choices and room upgrades.

Personalisation drives loyalty

Up to now, lodges relied on educated guesses concerning friends’ pursuits, turning upselling right into a apply probably intrusive slightly than service oriented. Right this moment, understanding {that a} visitor has reserved a room for a particular anniversary, the resort can counsel personalised experiences equivalent to an in-room {couples} therapeutic massage, flowers and champagne upon arrival, or a particular eating bundle that includes a romantic candle-lit dinner. This centered method boosts income all through the resort and delivers a extra memorable, personalised expertise for the visitor – certainly, 65% of customers say personalisation is a key loyalty driver.

Some great benefits of using data-driven analytics lengthen past focused upselling. Entry to real-time information permits lodges to immediately confirm friends’ ages earlier than serving alcohol, making certain compliance with authorized necessities. Moreover, information can reveal a visitor’s previous keep historical past, enabling lodges to customize service and cater to identified preferences.

Heralding a brand new period in hospitality

Motels are realising the significance of understanding their friends from the reserving course of by way of checkout. Motels want to attach their know-how programs to color a full image of visitor preferences and the alternatives they maintain for monetisation. These programs kind the central nervous system of the resort, linking the whole lot from the reserving platform to the cellular app and on-site kiosks – unifying visitor information all through the resort. By prioritising personalised experiences and focused choices, lodges can improve visitor satisfaction and encourage repeat visits, thereby rising the general income generated from every visitor.

So, if you wish to be part of the information discovery initiative centered on “Visitor-Centric” income optimisation then go on forward and discover Agilysys Hospitality Solutions!