Your channel manager reports are a gold mine of information that will help you optimise your channels, boost revenue and increase profitability. Find out what you can learn from these reports and how they can help you score over competitors.
Key Channel Manager Insights to Help You Outperform Your Competition
Room Nights
A key indicator of your hotel’s occupancy, the Room Nights report by STAAH Instant Channel Manager Insights provides an overview of what room nights were booked for the selected month/year or date range through each channel.
Study this report carefully for trends. Which months are more favourable for business? How each channel has performed over time? If you’ve invested in increasing your direct bookings, the room nights report would be a good way to know if the investment is worth it.
Tip: Don’t delay in reaching out to an OTA to find out how you can reverse the trend of decreased bookings through them.
Revenue
The revenue report tells you how much revenue does each channel get you for the selected month/year or date range.
Tip: Don’t read into absolute numbers. It is important to see which channel is most profitable rather than which one gets most revenue.
Average Rate
This report indicates the average rate at which a room is booked through a channel for the selected month/year or date range. To increase the average rate, focus on increasing your revenue per guest by implementing pricing strategies, including upsell offers. Complementary offers that will enhance their experience include shuttle transfers, room upgrades, equipment hire, and tours and activities. Extended stay discounts and packages work like a mint.
Bookings
A snapshot of what bookings you have for the selected date or date range from every channel. It gives you the visibility to manage demand and supply across all channels, enabling easier management and better pricing decisions.
Average Lead
This is perhaps one of the most useful reports for an accommodation provider. It indicates how much in advance guests typically book your property and which channels – the lead time for bookings. Knowing how far out your guests are likely to book your property helps you plan pricing and promotions to ensure the occupancy is maintained and you do not have any quiet months.
Tip: Plan your promotions based on your lead times, specially during low season and you could be one up against your competitor.
Average Stay
How long do guests stay on an average in your property? As others, this report is also available per channel and for the selected month/year or date range.
Tip: It is to your benefit that the average stay for your property be more than 2 days. If not, think of adding frills such as packages e.g. Stay 2 save 10% to entice your guests to stay longer.
Rate Plan
This report gives you an overview of which rate plan was the most beneficial in terms of revenue over for the selected month/year or date range. A good way to know which rate plans are a keeper and which can be canned.
Geo Report
Know which part of the world your visitors are booking from. You can use this report to tailor your product offering to suit the nationalities that are most likely to book with you.
Promo Code Report
You’re likely to run multiple promotions over the course of time. This report gives you a quick snapshot of the promotion that was most effective.
Must Read: How to choose the Right Channel Manager for your Accommodation?
Quick Tips for Using STAAH Instant Hotel Channel Manager Reports
- Go into your insights as frequently as possible, definitely once a week.
- Use the variants available in the Insights – date range and channels.
- Use a yearly view to see trends across all months.