This video is part of a learning series designed to demonstrate how a revenue management professional uses guestrev on a daily basis to review hotel performance and rate recommendations to maximize revenue for their hotel.
The first step of a daily review begins on the Summary screen where calendar metrics can be used to identify dates that need a deeper review. The calendar drop-down can be used to view key metrics. The most actionable metrics include Projected Hotel Occupancy, Pickup, Group Committed, and Action Index.
Select the Play icon at the bottom to begin the video.
Projected Hotel Occupancy - this provides Revenue Managers a better understanding of how the hotel is going to perform from a rooms occupied and total revenue perspective.
- Dates highlighted in green represent dates with a projected high occupancy. Dates that are not highlighted represent average occupancy dates. The daily process should include reviewing all high occupancy dates within the booking window and making appropriate adjustments to ensure the property is optimizing revenue and inventory on these high demand dates.
- Dates highlighted in red represent low projected occupancy dates. Low occupancy dates in the booking window should also be reviewed as part of the daily review.
- This calendar metric can be used to identify keys dates of focus and determine if any supplemental marketing programs should be deployed to assist in driving incremental demand.
Pickup - should be reviewed to gain important insights into how demand is building for your property and where you need to focus.
- Displays total reservations picked up in the last 1, 7, 14, and 21 days for each future date.
- This information can be used to see date and day of week patterns where bookings are coming in faster or slower compared to other dates and days of week in the selected booking window.
Group Committed - displays total group blocks committed for each date. Reviewing group blocks helps understand group booking patterns, high and low group demand, and dates where additional groups could be placed based on remaining capacity.
Action Index - provides useful information to the RM to identify days with significant revenue opportunity. The Action Index is generated by Guestrev during the optimization process and represents revenue opportunity. Dates with a higher Action Index have more revenue opportunity. Action Index values can vary between 0, representing no revenue loss, and 100, which represents the highest revenue loss.
- Variance between the rate and overbooking recommendations and the current rate and overbookings levels as well user overrides factor into the value of the Action Index. Overrides have a high Action Index as a reminder to validate the continuing need for the override. All dates with an Action Index higher than 50 should be reviewed.
Calendar metrics help identify dates that should be an area of focus for the daily review.
To continue exploring the day in the life of a Revenue Manager, check out our learning series below.
- Part 1: Guestrev - a day in the life - introduction
- Part 2: Guestrev - a day in the life - calendar metrics
- Part 3: Guestrev - a day in the life - occupancy metrics
- Part 4: Guestrev - a day in the life - pricing recommendations
- Part 5: Guestrev - a day in the life - supply and demand
- Part 6: Guestrev - a day in the life - forecast
- Part 7: Guestrev - a day in the life - booking curve and competitive rates
- Part 8: Guestrev - a day in the life - rate recommendation upload
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