Four Tips for Measuring Hotel Performance | By Sadie Garside

1. More conversations around profitability.
2. Looking for trends by comparing performance week over week or month over month vs year over year. Are we improving? Are we declining?
3. Comparing both business mix and channel mix to gain a better strategic understanding of performance, whether it be as a brand or as an individual hotel.
4. Moving away from old metrics, especially now. We need to take more time to set goals as a team and agree on our definition of success for our specific property together.

The only thing that everybody can agree on is that there’s no one KPI to agree on. Our industry has lots of KPIs out there and choosing the right ones depends on what you need to measure. The key is picking the right tool and measurement activity that speaks to your stakeholders and accurately reflects what you’re trying to accomplish.

The KPIs You Need Right Now: HSMAI’s KPI Workgroup has developed a master list of key performance indicators for hospitality sales, marketing, and revenue optimization — from ADR to YOY Growth.