The hotel and travel industries face challenges posed by the competitive environment. This is why managers strive to come up with solutions that will allow them to cope with the daunting business world. Aside from the ever-changing environment, there is also a need to keep track of the competitions because they can easily attract your customers. This will of course result to a huge decrease on your profits. Since hotels are part of the hospitality industry, you should always think about your customers and their satisfaction. Meeting their requirements should not be your main goal – instead, you should go beyond them. To do this is simple: you need to monitor hotel travel performance.
The methodology in measuring hotel travel performance has evolved over the past few years but the fact remains that you should first take a look at your goals. Determining what you would like your organization to be in the future will lead you to learning the right tourism indicators that you should use. Therefore, even if you have the best piece of hotel performance software, this would not matter unless you know what you would like to accomplish. The goals and objectives of your business are exactly the things that will tell you what your company will be. Discovering what your organization’s future is will help you in selecting tourism indicators that will measure hotel travel performance.
Your customers should be your main priority but this does not stop there. There are performance dimensions that you will have to consider to be able to assess hotel travel performance well. As mentioned, the business environment here is very competitive which is why you have to keep an eye on the competitiveness of your own business. Measure the viability of your company against the performance of the other firms. You will need tourism indicators like relative market position and share, customer base measures and sales growth.
Now, we all know that in this industry every cent counts. The money that you expend might be of great help or might just prove to be a bad decision on your side. This is why financial measures should be utilized which include profitability, liquidity, market ratios and capital structure. Quality of service is next. You cannot gain more customers if you do not advance on reliability, responsiveness, appearance or aesthetics, tidiness, comfort, staff and environmental friendliness, effective communication, competence, access, security, availability and courtesy. These measures will make up the service quality dimension.
Hotel flexibility perspective uses measures such as volume, specification and delivery speed flexibility. When you monitor the hotel travel performance, you should also keep track of how the resources are being employed. Efficiency and productivity are two measures that are commonly used in this aspect. Finally, innovation should also be gauged. The growth and the development of your organization is viewed as one of the most important perspectives due to the fact that you can determine the performance of the innovation procedures as well as the performance of each innovators which carry out the processes. Your staff can either be your biggest expense or the most valuable asset which is why you should always observe their performance.