Measuring hotel metrics beyond RevPAR with RevPAG

At present’s main hoteliers are including a extra complete analytics metric into their efficiency assessments: Income Per Out there Visitor (RevPAG). Going past the constraints of Income Per Out there Room (RevPAR) and Common Day by day Charges (ADR), RevPAG measures how successfully hoteliers generate further property-wide income streams by utilizing real-time data-driven insights to current personalised affords and experiences visitors are apt to just accept. This data-driven method not solely enhances visitor satisfaction but additionally boosts profitability by fostering loyalty and maximising spending. TDM just 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 offered 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 expertise to uncover hidden income streams and determine upselling alternatives visitors will understand as personalised service somewhat intrusive promoting is a brilliant enterprise follow.

Embracing data-driven metrics like RevPAG for holistic insights

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

The hospitality trade will profit as extra leaders undertake extra complete, data-driven metrics corresponding to RevPAG. When properties use information to supply experiences refined to every visitor’s preferences, distinctive providers and specialised moments enhance property large. Understanding visitors extra comprehensively and personally will feed innovation throughout the complete spectrum of visitor spending together with meals and beverage experiences, spa remedies, convention heart choices, parking choices and room upgrades.

Personalisation drives loyalty

Previously, accommodations relied on educated guesses relating to visitors’ pursuits, turning upselling right into a follow doubtlessly intrusive somewhat than service oriented. At present, understanding {that a} visitor has reserved a room for a particular anniversary, the resort can recommend personalised experiences corresponding 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 allows accommodations to immediately confirm visitors’ ages earlier than serving alcohol, making certain compliance with authorized necessities. Moreover, information can reveal a visitor’s previous keep historical past, enabling accommodations to customize service and cater to recognized preferences.

Heralding a brand new period in hospitality

Resorts are realising the significance of understanding their visitors from the reserving course of by checkout. Resorts want to attach their expertise techniques to color a full image of visitor preferences and the alternatives they maintain for monetisation. These techniques type the central nervous system of the resort, linking every thing from the reserving platform to the cell app and on-site kiosks – unifying visitor information all through the resort. By prioritising personalised experiences and focused choices, accommodations 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!