As we head into summer in the Northern Hemisphere, properties are gearing up for peak season. This preparation can both excite and intimidate lodging providers. On one hand, occupancy and revenue are up (yay!), but on the other, the pressure is on to maintain top-notch service with less time and more stress (eek!).
NB: This is an article from WebRezPro
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It’s a crucial time to make a good impression and an opportunity to earn a big bunch of loyal fans. For everything to go as planned, there needs to be a plan! Here are our suggestions for getting ready for peak season.
Spruce Up Your Property
Evaluate your property through the eyes of a guest and make adjustments. Does it feel inviting? Look at the guestrooms, lobby, dining area, and outdoor spaces, then fix or replace anything showing wear and tear. Do bathrooms or showers need regrouting? Are the coffee pots and TV remotes working? Even minor improvements, such as hanging flower baskets, can make a world of difference.
It’s best to make these minor improvements before they turn into major problems. A serious issue during peak season not only costs you more money to fix, it creates lost revenue every day you can’t use the room when your property is at its busiest.
Review Data for Optimal Pricing & Distribution
Review last year’s occupancy and revenue data to help you price rooms and packages correctly, and optimize your presence across distribution channels.
Consider your competition and other factors impacting pricing and availability (like major annual events) to ensure your property is priced competitively. A revenue management system (RMS) is a big help here. Integrated with your property management system (PMS), it automatically receives your inventory, rate, and availability information and analyzes it along with market and competitor data to make informed price recommendations. Length of stay restrictions come into play here too; you may be able to implement these during especially busy times and save on turnover costs.
Optimize distribution by reviewing which channels yielded the most profit last season and use the data to determine the best strategy going forward, taking into account any new channels you’ve added since then. For instance, if direct bookings increase over summer, consider reducing OTA inventory and save on those commission fees. Pro tip: Reexamine any OTA loyalty programs and visibility boosters you use and check that cost and performance are as expected.
Think about performance indicators you’d like to monitor over this busy season that can help you prepare for the next one. In addition to crucial metrics like ADR, RevPAR, occupancy, and average LOS, you can drill down into your data to track things like group vs transient revenue, your most popular rates and packages, booking lead times—anything you want, really.
