Must-Have PMS Reports For Health Checks Webinar.pptx

1. Must-Have PMS Reports For Health Checks
2. Overview • About me • About rezStream • Must-Have Reports • Recap • Q&A 2 www.rezStream.com
3. About Me www.rezStream.com 3 VP of Customer Delivery 11+ years with rezStream Originally from the Midwest Daughter recently started crawling Enjoys taking walks, yoga, reading to my daughter
4. About rezStream www.rezStream.com 4 Small company of caring and passionate individuals View ourselves as an extension of your team 100 years of combined industry experience Suite of solutions focused on helping independently-owned properties
5. www.rezStream.com Reports
6. Booking Pace By Unit Report www.rezStream.com 6 The pace report reveals how well your pricing strategies are working: if bookings are more or less than your forecast, it signals that pricing is potentially either too low or too high.
7. Key Metrics www.rezStream.com 7 Nights Booked Avg. Occupancy Avg. Rate Unit Charges Package Charges
8. Sample Footer Text 8
9. Sales By Channel Report www.rezStream.com 9 The Sales By Channel Report shows the amount of revenue that was brought in from various sources. Cancellations and modifications are included.
10. Key Metrics www.rezStream.com 10 Channel Sales
12. Sales By Channel (Excluding Changes) Report www.rezStream.com 12 The Sales By Channel (Excluding Changes) Report shows the amount of revenue that was brought in from various sources. Cancellations and modifications are not included.
13. Key Metrics www.rezStream.com 13 Channel Sales
15. Rate Plan (Unit Type) Metrics Report www.rezStream.com 15 The Rate Plan (Unit Type) Metrics Report will show you performance associated with a particular rate plan.
16. Key Metrics www.rezStream.com 16 Rate Plan Booked Nights Avg. Stay Length Occupancy % ADR
18. Cancelled Reservations By In-House Date Report www.rezStream.com 18 The Cancelled Reservations by In-House Date Report shows cancelled reservations with lost revenue based on the date the reservation would have taken place.
19. Key Metrics www.rezStream.com 19 Arrival Departure Unit Nights ADR Unit Revenue Lost
21. Bonus Tip www.rezStream.com
22. Automate www.rezStream.com 22
23. Recap 1) Reports will give you valuable insight into how your property is operating and help improve processes. 2) Depending on your property type, some of these reports may be more helpful than others. 3) Schedule reports from your PMS so you’ll always have the latest data at your fingertips. www.rezStream.com 23
24. Q&A K N O W L E D G E I S P O W E R •Liz Brown, VP of Customer Delivery • Sales@rezStream.com • (303) 872-0220 • www.rezStream.com

Notes de l'éditeur

Thanks so much!
As Lyles mentioned, we’ll be reviewing our recommended Must-Have PMS (which stands for Property Management System) Reports for Health Checks so let’s get started!
To get us going today, I’ll share a bit about myself in the event I haven’t had the chance to work with you or your property before.
I’ll spend time reviewing who rezStream is and what makes us so special.
From there, we’ll get into the top reports we recommend your property using to gauge your business’ overall health.
Then, I’ll recap the major takeaways and transition into the Q&A with Lyles’ help!
So … My name is Liz. I’m the VP of Customer Delivery at rezStream. In my role, I oversee the teams who help service our customers whether that be marketing, website design or software support!
Therfore,, if you need anything, please do not hesitate to reach out! I’ve been with rezStream for over 11 years now … WOW … So chances are I either know the answer or the person who can get you the answer.
I’m originally from Illinois so I’m a Midwest girl at heart. However, I’ve been out in Denver for the last 14 years. I got married in Colorado, had my daughter in Colorado soooo you could say I’ve planted some roots. Speaking of my daughter, she recently started crawling which is the big news in our household (besides our dog getting skunked for the second time this past year).
For fun, I enjoy taking walks, hitting up my local yoga studio, reading books to my daughter and traveling to new places!
When it comes to rezStream, we’re a small business helping other small businesses. Specifically, we’re focused on independently owned properties!
I promise, you will not find another team of people who truly love what they do and show up every day wanting to make our customers lives better!
Although we’re headquartered in Denver, we see ourselves as an extension of our client's team. We have 100 years of combined industry experience, so we’ve been around the block a few times.
For those of you who don’t know what we do, we provide that “one stop shop” experience for lodging properties when it comes to their PMS, website and digital marketing services to streamline and/or grow the business!
Enough talking shop, let’s get down to business …
The next several slides will cover what we view as your “must have” reports and key metrics featured in those reports to keep a pulse on your business’ health
I’ll be referencing our own PMS reports from rezStream Cloud, but these reports should be readily available from any decent PMS platform
The first report that I’ll be covering today is …
The Booking Pace By Unit Report
This report reveals how well your pricing strategies are working: if bookings are more or less than your forecast, it signals that pricing is potentially either too low or too high.
It also helps you predict your future occupancy. Instantly see which changes you need to make to outperform last year’s numbers such as increase/decrease rates or add/remove minimum night requirements.
You can also see when your property under-performs compared to years past. From there, you should match this data with natural disasters, seasonal changes, local events, and marketing strategies. This helps you understand where you need to make changes to optimize your revenue.
In an ideal world, you would look at this report every week to understand how the next few months are trending. However, if that’s not do-able, make it a goal to review at the beginning of every month!
Key metrics this report covers includes total nights booked for the evaluated period, average occupancy, average rate booked, total lodging/unit charges as well as any package charges.
Here’s what rezStream Cloud’s Booking Pace by Unit report looks like ….
This reflects the overall picture for a particular property for 2022 as of June 5th compared to 2021, but as you scroll down the report, it breaks it down for each unit to determine which ones are easier or harder to book which can help make decisions regarding marketing such as special offers or adjusting your OTA inventory rules.
The next report we recommend looking at is …
The Sales by Channel Report
The Sales By Channel Report shows the amount of revenue that was brought in from various channels including booking engine, phone/walk-in/email reservations or OTA reservations. These reports are especially helpful to identify which channels are your largest revenue generators.
Channel production reports will all operate a bit differently, but in the case of rezStream Cloud, you can see a breakdown of total sales and reservation details by channel. You can use this report to audit your distribution strategy and determine what’s most valuable and where you should focus your attention.
For this report, we recommend reviewing every month.
For me, the key metrics for this report includes the channel and total sales.
On this slide, you’ll see a screenshot of what the Sales By Channel report looks like …
As a reminder, to calculate your direct vs. OTA distribution, you would add up the Booking Engine, Google Hotel and PMS line items and divide by the total
If you’re not getting over 50% of your bookings from your direct channel, we should talk digital marketing services …
The third PMS report we’ll be covering today is …
Sales By Channel (Excluding Changes) Report
Unlike the Sales By Channel Report, this one does not take into account any cancellations or modifications made after the initial booking
We use this report to confirm if Google Analytics revenue tracking is correct to measure the success of your website and marketing efforts
Google Analytics does not track any cancellations or modifications made post booking so this report will give you a true apples to apples comparison
We recommend confirming tracking is working every month so you can address any issues if those popped up in the last 30ish days
Similar to the Sales By Channel report, the key metrics include the channel and total sales
Here’s an example of what the report looks like from rezStream Cloud.
If you were to check Google Analytics against your booking engine, you would want to add up the Booking Engine and Google Hotel line items up with the total revenue reported in Google Analytics
Keep in mind, the PMS report is your source of truth so if you’re seeing very different figures in your Google Analytics account for the same time period, your implementation of Google Analytics is the issue
For the fourth report, we recommend looking at …
The Rate Plan (Unit Type) Metrics Report
This report will show you performance associated with a particular rate plan. Most properties have several different rate plans whether they’re promotional, government rates, corporate rates, etc.
The Rate Plan (Unit Type) report will help you see which rate plans and promotions are helping you generate the most revenue.
We recommend reviewing this report monthly or weekly depending on special offers being promoted.
For me, the key metrics from this report include the rate plan name, booked nights, avg. stay length, occupancy percentage and average daily rate ….
And for those of you using our rezStream Cloud, here’s what that report looks like …
For our last report, we’ll be reviewing the …
Cancelled Reservations By In-House Date Report
This report shows cancelled reservations with lost revenue based on the date the reservation would have taken place. Therefore, if you’re seeing more vacancies taking place for a particular time period, you can take action to fill those up!
With most properties adjusting their cancellation policies due to Covid, we recommend keeping an eye out on your cancellations to determine if further management or policy changes need to be made. For example, if you’re getting a lot of cancellations from your OTA channels, you may want to limit inventory so you’re not limiting opportunities for a higher quality of guest from booking with you.
To begin with, we suggest reviewing this report every few months and go from there.
Key metrics include arrival, departure, unit nights, average daily rate (ADR) and unit revenue lost
Here’s an example of what that report looks like
Before we recap, I wanted to share a bonus tip for those of you who were not aware of this feature in rezStream Cloud …
Automate these reports being pulled and sent to you by using the subscribe feature
We know there are some reports that you need to run every day, every week and every month. To assist you with these efforts, we encourage you to subscribe to any report that you need on a regular basis and have it delivered directly to your inbox on a regular schedule.
In addition, sharing a report is as simple as forwarding that email. Alternatively, feel free to add users to your rezStream Cloud account so those users can get the reports they need when they need them.
Let’s recap what the major takeaways were from today’s webinar …
READ SLIDE
Alright, that concludes today’s webinar.
Lyles, I’m going to turn it over to you for the Q&A …

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