Hotel Benchmarking: How to Identify and Act on Opportunities to Grow Your Direct Reservations

Hotel Benchmarking: How to Identify and Act on Opportunities to Grow Your Direct Reservations

Written by Fiona Gillen, VP Marketing at The Hotels Network

Benchmarking is essential to every hotel brand’s growth strategy, from five-star luxury resorts to serviced apartments, and everything in between. Benchmarking allows you not only to understand your hotel’s performance compared to the market, but to pinpoint areas for improvement.

Traditional hotel benchmarking generally focuses on comparing rates and occupancy, without shedding light on how the results came to be. Today, however, hotels can access new benchmarking technology that takes a fresh approach, providing real-time insights to help you break down the entire booking funnel and compare your hotel’s direct booking performance to the competition.

Within an interactive platform, dynamic competitive sets provide invaluable insights to help you unravel the building blocks of your direct channel strategy. In addition to looking at data for these metrics, from website conversion rates and LOS to Disparities and Average Booking Value, you can easily drill down on the data using filters by source, travel party, country, and more.

Knowing how to analyze these data, how to determine areas for improvement, where opportunities lie, and what actions to take can be baffling for even the most seasoned hoteliers. To make the concept more simple to grasp, we have broken down two use cases, showing step by step how hotels are using the analytics to take full advantage of benchmarking their direct channel.

Sound interesting? Let’s take a closer look at their journey with benchmarking data… (Click below to keep reading.) 

Hotel Benchmarking – How to Identify and Act on Opportunities to Grow Your Direct