hostelbenchDecember 2011
Introduction & Background:- Fergal Mc Carthy¦Luke Bourke¦Fergus Cooney- Early career in hotels – operations - finance… 200...
Benchmarking…history and evolution• Xerox believe that they formally invented/introduced  benchmarking in early ‘80’s• Rob...
Benchmarking…history and evolution• Cobbler’s bench  • “The term benchmarking was first used by cobblers to measure people...
Benchmarking…history and evolutionWhat are the odds?*• Image courtesy of www.irishracing.com
Benchmarking…history and evolution..• Formally and informally  • Racetrack – “bookies benchmark their odds “against recogn...
Benchmarking in Hotelsž Hotels   – mid 1990’s  • STR Global    – 2008 Acquisition and consolidation of:    – Andersen/D...
Benchmarking in Hotelsž What   happens?  • Occupancy, Rate and RevPAR    – Used on a daily and weekly basis by over 40,0...
Benchmarking in Hotelsž Why?  • Formalising the informal  • Reducing resource time allocation  • Consolidating channel se...
Benchmarking in Hotelsž Consolidating     channel search*  • Findings: over 100 hotels –    – variable non-standard % of...
Benchmarking in Hotelsž Common   platform • Weekly Submission with ultimate goal • “AN INFORMED DECISION!”
Benchmarking –the call from        hostels! O Timeline - call came in 2010 – acted in   Summer 2011 O Research - spoke wit...
Hostels	  ..the	  story	  so	  farO Beta trial since August/SeptO Break / fixO Ready to launch this month – Open for  Busi...
How does it work…• Weekly Submission:  • You submit your data online - beds sold and    rate(s) - in confidence  • Likewis...
How does it work…•   This generates a suite of reports – (demo to follow)•   Region/City - Occupancy, Rate, RevPAB (Rev pe...
Business Application and benefits. Fundamental aim ¤ To   help you make informed decisions And / Or ¤ To   maximise you ...
Who’s interested?› Owners / Managers› Credit institutions› Potential owners / investors› Tourism boards – greater unit...
Security & Data Integrity¨   Data integrity     ¡   All data is stored in a commercial ISP data center     ¡   Is it sa...
Here’s one I made earlier§ Brief Demo.§ Sample Id’s available to anyone looking to try this at home.
Back to the future“In four hours the ship blows up”...James Doohan• Revenues are only one aspect of  benchmarking• Cost be...
Questions?
Nollaig Shona daoibh go léir… …agus go mbeimíd ar ais arís le chéile an bliain seo chugainn Go raibh maith agat a GoMio do...
Next year my profile will look lesslike this:
And more like this:*Image courtesy of Crystal Henrickson, www.Yelp.ca
hostelbenchDecember 2011
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How To Use Benchmarking To Evaluate Performance And Maximize Revenue

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How To Use Benchmarking To Evaluate Performance And Maximize Revenue

  1. 1. hostelbenchDecember 2011
  2. 2. Introduction & Background:- Fergal Mc Carthy¦Luke Bourke¦Fergus Cooney- Early career in hotels – operations - finance… 2000 Caught a bug SaaS 2009 Benchmarking for hotels Ireland 2011 The call from hostels hostelbench
  3. 3. Benchmarking…history and evolution• Xerox believe that they formally invented/introduced benchmarking in early ‘80’s• Robert Camp Ph.D. • Introduced benchmarking to the logistics operation of Xerox in 1981 “..the continuous process of measuring our products, services and practices against our competition…” * • *The Healthcare Forum Journal, January-February 1993, Vol. 36, #1, as "The Source."
  4. 4. Benchmarking…history and evolution• Cobbler’s bench • “The term benchmarking was first used by cobblers to measure peoples feet for shoes. They would place someones foot on a "bench" and mark it out to make the pattern for the shoes” Wikipedia• Xerox Corporation in the 80’s • “the continuous process of measuring products, services, and practices against the toughest competitors or those recognized as industry leaders.” David Kearne CEO, Xerox Corp.
  5. 5. Benchmarking…history and evolutionWhat are the odds?*• Image courtesy of www.irishracing.com
  6. 6. Benchmarking…history and evolution..• Formally and informally • Racetrack – “bookies benchmark their odds “against recognised industry leaders” • Supermarkets – forever benching price of products • Automotive industry- benchmark everything from 0-60mph stats to fuel consumption • Informal “Ring-around” in hotels : “What are you selling at tonight ..?”
  7. 7. Benchmarking in Hotelsž Hotels – mid 1990’s • STR Global – 2008 Acquisition and consolidation of: – Andersen/Deloitte – Hotel Industry Benchmark Survey: 1996 – Overlook Hospitality Management of Stockholm – The Bench – early 2000’s Small Independent Irish company Source: http://www.strglobal.com/about/History/STR_Global.aspx
  8. 8. Benchmarking in Hotelsž What happens? • Occupancy, Rate and RevPAR – Used on a daily and weekly basis by over 40,000 properties worldwide • Suite of reports • Classified by City, Star-rating, CompSet
  9. 9. Benchmarking in Hotelsž Why? • Formalising the informal • Reducing resource time allocation • Consolidating channel search* • Ryanair & Southwest airline
  10. 10. Benchmarking in Hotelsž Consolidating channel search* • Findings: over 100 hotels – – variable non-standard % of room stock • Attributed to multiple different channels • Compare like-with-like?
  11. 11. Benchmarking in Hotelsž Common platform • Weekly Submission with ultimate goal • “AN INFORMED DECISION!”
  12. 12. Benchmarking –the call from hostels! O Timeline - call came in 2010 – acted in Summer 2011 O Research - spoke with industry luminaries O Conclusion: Potential market worth exploring
  13. 13. Hostels  ..the  story  so  farO Beta trial since August/SeptO Break / fixO Ready to launch this month – Open for Business
  14. 14. How does it work…• Weekly Submission: • You submit your data online - beds sold and rate(s) - in confidence • Likewise your competitors confidentially submit their data
  15. 15. How does it work…• This generates a suite of reports – (demo to follow)• Region/City - Occupancy, Rate, RevPAB (Rev per available bed)• Competitive Set (Compset) – minimum 4 others aggregated
  16. 16. Business Application and benefits. Fundamental aim ¤ To help you make informed decisions And / Or ¤ To maximise you bed revenues for any given week
  17. 17. Who’s interested?› Owners / Managers› Credit institutions› Potential owners / investors› Tourism boards – greater unity => Stronger lobby*
  18. 18. Security & Data Integrity¨ Data integrity ¡ All data is stored in a commercial ISP data center ¡ Is it safe? ú Data access is protected via a secure hash algorithm ú Server itself is firewalled¨ Can I retrieve my data in full if I leave the service? ¡ Yes – for 30days.¨ Will my data be passed on to third parties? ¡ No. Other than regional reports E.g. Hostel Occupancy for Dublin Nov 2011 was…
  19. 19. Here’s one I made earlier§ Brief Demo.§ Sample Id’s available to anyone looking to try this at home.
  20. 20. Back to the future“In four hours the ship blows up”...James Doohan• Revenues are only one aspect of benchmarking• Cost benchmarking…KPI’s• Feature kaizen
  21. 21. Questions?
  22. 22. Nollaig Shona daoibh go léir… …agus go mbeimíd ar ais arís le chéile an bliain seo chugainn Go raibh maith agat a GoMio don cuireadh.www. Hostelbench.com
  23. 23. Next year my profile will look lesslike this:
  24. 24. And more like this:*Image courtesy of Crystal Henrickson, www.Yelp.ca
  25. 25. hostelbenchDecember 2011

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