How SynXis Performance Insights re-energized Hard Rock Hotels’ revenue management
“With Performance Insights, we can dissect the data in any way we need to meet the objective at hand, with a quick turnaround and no cumbersome series of reports to generate and then compile. The time it would take to research and reach these conclusions without Performance Insights would be absolutely prohibitive, and the opportunities to improve or to show success stories would be missed.”
Hoteliers must have access to centralized, actionable data in order to provide distinct and dependable guest experiences and achieve true hospitality.
Each day, hoteliers face the challenge of truly understanding hotel and chain-level performance because their critical data is spread across multiple systems. SynXis Performance Insights, a cornerstone of the Intelligence Suite, solves this problem by providing a single data warehouse for all of your reservation data.
Performance Insights gives you an interactive, on-demand view of your chain’s or property’s reservation data. It provides comprehensive channel production detail and market trend reports tailored to the business intelligence needs of decision-makers.
Performance Insights provides both dashboard views and drill-down capabilities, enabling you to make comprehensive and timely decisions. Performance Insights allows numerous customization and analysis options, including stay date views, rollups at the chain level and custom groupings and filtering on different dimensions of reservations. To maximize analytical flexibility, hoteliers can create custom reports, giving you the ultimate freedom to leverage your data.
The Challenge
Hard Rock Hotels faced challenges of data analysis and performance evaluation, relying on labor-intensive, aggregate reports. The company lacked access to a central hub for storing and analyzing actionable reservation data – a critical need for effective revenue management and distribution strategies.
Results
After implementing Performance Insights, Hard Rock Hotels saw immediate benefits from an on-demand view of reservation data, both at the chain level and for individual properties. Decision-makers at Hard Rock Hotels now have access to comprehensive channel production detail and market trend reports, tailored to their business intelligence needs, dramatically increasing their revenue management strategy efficiency. Today, Hard Rock Hotels’ Reservation Services Manager uses Performance Insights to identify trends and better understand the story that their data is telling.
In addition, the Revenue and Distribution team can now more easily leverage data to create on-demand reports for Hotel Development.They can now analyze channel distribution and booking lead time by chain, property or market type, as the need dictates. When Performance Insights showed conversion trending lower than expected at specific properties, Hard Rock Hotels targeted those staffs for additional training, resulting in a revenue increase of 20% month over month at those properties.
Instead of labor-intensive reports, Hard Rock Hotels now uses easy-to-view dashboards that provide actionable, on-demand insights. Instead of pulling reports manually, the Revenue Management team is able to collect and synthesize all of the data they need directly from this central location, saving hours of labor each week for the Revenue Management team.