Hotel Management - Strategic overall Performance evaluation
- 2.6
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Brief Introduction
Modern performance Metrices, Financial & Non-financial Hotel performance, understanding of operation strategiesDescription
As a hotel owner / operator you are always wondering how various hotel management strategies are performing and what are various performance metrices we can use for monitoring hotel performance. Hotel Operation and Management team may have different strategies to achieve their vision.
There are many performance indicators that can be used to analyse hotel performance however not all of them give same value and indication of hotel performance.
Actual performance can be hidden behind good looking KPIs. few examples.
1, Hotel may focus on occupancy % which may look good but may comes at cost of value drop or focusing too much on one market segment practically risking continuity of business.
2. You may be focusing on getting highest rates in the market while loosing on occupancy which may again be not healthy.
to overcome this modern managers use RevPAR which is considered an combination of both occupancy and ADR. However RevPAR in itself is not complete as it does not take care of cost to generate revenue and other revenue generating opportunities..
We have discussed many more examples in this course
This course will guide to understand common KPIs and how to decode them. After this course you can tell if Hotel strategies are working or not and profits are maximized.
Take this very short course to understand how to analyse hotel's performance without going too deep in financial statements and understand how various performance indicators can help to understand effective ness of various strategies
Course is designed to give a bird's eye view on hotel performance.
Requirements
- Requirements
- Basic Hotel Operations Understanding
Hotel Management School Your learning Partner
2.6 Raiting
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