Why a New Way to Measure Hotel Performance is Needed Why a New Way to Measure Hotel Performance is Needed
Why a New Way to Measure Hotel Performance is Needed
A lot has been speculated about what could and should change because of the pandemic.
NB: This is an article from Hotel Financial Coach
There is one aspect of the hotel business that desperately needs to change and the Covid crisis is not to blame. However, it will most certainly speed things up.
That number and the index of that number’s performance has been the most studied and reported on in the hotel universe. This number and the hyper focus of investors, brands, as well as owners, has revolutionized the industry and created a whole slice of quasi science – the revenue manager – that did not exist some 20 years ago. REVPAR and index revolutionized the industry, and they are here to stay.
Think about how the adoption of GOPPAR performance index would change the hotel business for brands and management companies.
If management companies and brands are to survive and prosper then the ability to deliver a superior profit result for their owners needs to be the new performance focus. The ones who adopt this the best will have a huge advantage. This, at the end of the day, means leadership. Is it time to step up?
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goppar, hotels, pricing, revenue, revpar