In the RoomKey Insight online module there are multiple reports. One that is very handy- under the "Revenue" tab of the main screen- is "Total Revenue By Market Segment (BETA)". This is a great report and is critical to my hotel's operations in reporting our daily history.
The report can also look ahead and be used to forecast based on current reservations on hand. (Example: Looking at next September, today I can see there are currently 100 room nights reserved and $10,000 in the Individual Best Available segment).
Unfortunately, this report does not include blocked rooms. Therefore, if I want to prepare my next year's budget, the most accurate report comes from the PMS and only breaks the revenue into Transient and Group (or Wholesaler). It doesn't drill down any further into the segments under these two main categories.
I propose a report exactly like the "Total Revenue By Market Segment (BETA)", as it breaks it down into the appropriate segments, but also includes future block revenue.
So,with this new report, if during a future month I can see $100,000 blocked in "Group SMERF" and $5,000 blocked in "Group Corporate", I know where the revenue is coming from and can adjust my marketing strategy based on the forecasted performance of each segment.
Right now, with the current Insight report, I can only see the revenue from reserved rooms, not including blocks. I want to see both. I may have a $50,000 group blocked and $10,000 in current reservations for Group SMERF segment. I want to see that we forecast to have $60,000 for that month in Group SMERF instead of only $10,000 when the report is generated (like it is presently).
This could be toggle option, just have a box that you check that says "Include Group Blocks" when generating the report.
|How would you rate the importance of this idea?||Critical to operating my hotel|