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The Benefits of Statistics

There are many ways that a member can benefit from the average occupancy and room rate benchmark reports.

Monitor Industry Trends

Some participating members may not necessarily seek to use the statistical data in a business sense or for any specific purpose. However, being able to monitor the national, provincial, regional and town average room rates and occupancies from month to month, will allow you to remain abreast of industry trends and performance levels. It will be very interesting for you to be able to view and compare average rates and occupancies for all the various towns in your immediate area.

Average Room Rates & Occupancies

Being in a position to benchmark the average room rate and occupancy of ones own accommodation establishment takes the guess work out of determining the performance levels of your business relative to others. Month by month, you will be able to compare your occupancy and your average room rates and determine immediately whether your business is outperforming, on a par or lagging behind your competitors in your town, region or province.

Business Support Information

At some stage, either now or in the foreseeable future, most owners of accommodation establishments will be faced with a strategic business decision.
You may be:
   • Looking to sell the business
   • Thinking of buying a second accommodation establishment in the region
   • Planning to revamp the business at considerable cost
   • Wondering if you should develop and extend your establishment
   • Considering adding more rooms
   • Expecting a purchase offer on the business

As a participating member of Hospitality Stats-on-Line you will be provided with invaluable data and performance level statistics that will support your sales motivation, justify your selling price, provide credible information when looking to buy in a specific location or support your loan application for any proposed development or extension. Occupancy and room rate trends will give you an excellent idea as to whether or not you should consider adding additional capacity and what the likely return will be against the investment.

Marketing Support Information

It is immensely difficult to decide on the correct or optimum levels of marketing, advertising and promotional spend you should set aside for your business. Knowing whether or not you are ahead, on a par or perhaps behind the town or regions average occupancy, will give you an immediate guide as to the urgency or otherwise of your short term marketing and advertising requirements.

If you are well ahead on occupancy, you might consider cutting back on your marketing spend whilst at the same time ensuring that your establishment profile remains visible in the public domain. If you happen to be a number of points down on occupancy, you might consider an increase in your marketing spend with an aggressive short term campaign in order to make up the shortfall.

Leverage with Tourism Authorities

Without accurate historical and current average occupancy and room rate statistical data for your specific town and region, it is all but impossible to assist and work together with your local and regional tourism organisations in any meaningful manner. In order to improve occupancies there can be no doubt that establishment owners and the various tourism authorities need to work together on the marketing and promotion of their particular town and region.

Being able to access the monthly statistics provided by Hospitality Stats-on-Line will undoubtedly provide you and your local and regional tourism organisations with comparative benchmark statistics of significant value. These figures will, for example, assist accommodation establishment owners, LTO’s and RTO’s in monitoring and evaluating the success of any marketing and promotional initiative that might have taken place over a particular period.