Measuring hotel metrics beyond RevPAR with RevPAG

As we speak’s main hoteliers are including a extra complete analytics metric into their efficiency assessments: Income Per Obtainable Visitor (RevPAG). Going past the restrictions of Income Per Obtainable Room (RevPAR) and Common Every day Charges (ADR), RevPAG measures how successfully hoteliers generate further property-wide income streams by utilizing real-time data-driven insights to current personalised affords and experiences visitors are apt to simply accept. This data-driven method not solely enhances visitor satisfaction but additionally boosts profitability by fostering loyalty and maximising spending. TDM just lately held the Agilysys Hotelier “Revenue beyond the room” spherical desk on the Hyatt Regency Sukhumvit, Bangkok, Thailand, additional explaining the idea to the crème de la crème hoteliers of Thailand. The occasion was introduced by Tony Marshall, VP and MD Asia Pacific Agilysys and co-supported by Bousserind Comson, BDM, APAC, HotStats.

The timing couldn’t be higher for hoteliers to embrace new methods as 65% of APAC areas have reached pre-pandemic tourism ranges in early 2023. Including a efficiency metric that makes use of know-how to uncover hidden income streams and determine upselling alternatives visitors will understand as personalised service reasonably intrusive promoting is a great enterprise apply.

Embracing data-driven metrics like RevPAG for holistic insights

Fairly than limiting evaluation to filling bodily areas or optimising room income, trendy views on monetary efficiency take into account potential earnings from eating, wellness amenities, onsite facilities, occasion areas, and different visitor experiences.

The hospitality trade will profit as extra leaders undertake extra complete, data-driven metrics reminiscent of RevPAG. When properties use knowledge to supply experiences refined to every visitor’s preferences, distinctive companies and specialised moments enhance property large. Understanding visitors extra comprehensively and personally will feed innovation throughout the complete spectrum of visitor spending together with meals and beverage experiences, spa therapies, convention heart choices, parking choices and room upgrades.

Personalisation drives loyalty

Prior to now, lodges relied on educated guesses concerning visitors’ pursuits, turning upselling right into a apply doubtlessly intrusive reasonably than service oriented. As we speak, understanding {that a} visitor has reserved a room for a particular anniversary, the resort can recommend personalised experiences reminiscent of an in-room {couples} therapeutic massage, flowers and champagne upon arrival, or a particular eating package deal that includes a romantic candle-lit dinner. This centered method boosts income all through the resort and delivers a extra memorable, personalised expertise for the visitor – certainly, 65% of customers say personalisation is a key loyalty driver.

Some great benefits of using data-driven analytics prolong past focused upselling. Entry to real-time knowledge permits lodges to immediately confirm visitors’ ages earlier than serving alcohol, making certain compliance with authorized necessities. Moreover, knowledge can reveal a visitor’s previous keep historical past, enabling lodges to customize service and cater to recognized preferences.

Heralding a brand new period in hospitality

Lodges are realising the significance of understanding their visitors from the reserving course of by way of checkout. Lodges want to attach their know-how programs to color a full image of visitor preferences and the alternatives they maintain for monetisation. These programs kind the central nervous system of the resort, linking every little thing from the reserving platform to the cellular app and on-site kiosks – unifying visitor knowledge all through the resort. By prioritising personalised experiences and focused choices, lodges can improve visitor satisfaction and encourage repeat visits, thereby rising the general income generated from every visitor.

So, if you wish to be part of the info discovery initiative centered on “Visitor-Centric” income optimisation then go on forward and discover Agilysys Hospitality Solutions!