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November 11, 2021
You rely on your reservation and property management system to keep things rolling at your outdoor properties. After all, it tracks everything from personal guest information to operational expenses. Your reservation management system stores a lot of data about your guests, operational costs, maintenance tasks, and much more, but do you have access to all of that data?
Without visibility into that information, you’re losing the ability to create data-driven decisions about your operations and the processes which can ultimately cost you time and money.
Let’s take a look at what areas of data are most important to access and how visibility into this can lead you down the path to achieving operational excellence.
When areas of your property data are lacking, you’re likely to face struggles in your processes. Here are some specific areas of data you should have visibility into:
One of the most important pieces of information you need visibility of is the demographics of your guests. Where are they from? What do they do? How old are they? You also want to know about your repeat guests. Which of your guests are coming back to your property many times? You’ll be able to note if they’re coming back on a specific frequency, due to promotions, or because of another factor. Your guest data can also help you observe the peaks and lows in your guest occupancy. Once you observe patterns through your property analysis, you can adjust your rates accordingly.
You can gain insight into two areas with property utilization data: the property spaces that are utilized and the utilities for managing your property. It’s important to keep an eye on your properties’ utility costs and related expenses. Without visibility into your data, you might be unnecessarily spending money. For example, Sunland RV Resorts, an elevated RV resort experience in both California and Florida, prevented losing over $96,000 in utility bills with RMS's advanced reporting.
While it’s imperative for each of your independent properties to be able to view and segment their own data, siloing this information separately can prevent you from seeing the big picture. Through a multi-property comparison chart, you can see how each property is performing against one another, and as a whole. With this data, you’ll have the ability to know more about your guests, property, revenue, and more — and leverage opportunities to improve your business, overall.
A lack of insight into your data can affect every aspect of your business. Without this information, you’re unable to see a holistic view of your properties, which is likely leaving you with gaps in your property analysis.
For example, if you are unable to create customizable reports, you may have some uncertainty about specific areas of your property. Even if your reservation and property management system already has reporting available, it may not be providing you with the insights you actually need. This creates limitations in your ability to make informed decisions for your properties.
In addition, if your systems do not have the ability to sync or if you utilize manual or offline information tracking as a core of your processes, you may have incorrect data within your reports.
Both of these situations can, unfortunately, lead you to make decisions that aren’t in the best interest of your property — although it may look that way through an incomplete or incorrect property analysis.
Data visibility is one of the keys to operational excellence. The right reservation and property management system can streamline your data and allow you to make the best data-driven decisions for your outdoor property.
By making efficient and informed decisions for your business needs, you can save time and money while simultaneously improving your employees’ day-to-day processes and your guests’ experience.
Learn more about data visibility and achieving operational excellence at your outdoor property in our e-book, Achieving Operational Excellence in Hospitality today!