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Why should I know how many new bookings are coming in?
Every day, a hotelier looks at his bookings and figures. He pulls his Pickup Report and has an insight into his figures. There isn't much that all hoteliers have in common, whether it's a city hotel or a wellness complex, but everyone really has this KPI on their screen. It also allows you to see which periods are popular and are busy long in advance. The comparison with the previous year also provides new insights. You can continue working with the analyzed data: for example, the booking speed is very important for your turnover and therefore also your profit.
What analysis options are there and how do most hotels do it?
There are many different ways to analyze pickup data, but most use Excel to compare the data. The biggest disadvantage here is the daily manual maintenance of the data. Line by line, the manual effort quickly becomes confusing and is extremely prone to errors.
Many hotels simply draw a daily report from the PMS system and try to manage their figures on that basis. But here it is often a problem not to recognize for which period the guests who have booked today will visit the hotel. The pickup report is therefore associated with a great deal of manual effort.
The big disadvantage of an Excel list is the high maintenance effort, a low overview and the tendency to errors. As soon as several employees access the same file, misunderstandings or errors can quickly occur.
No more Excel lists! Try happyhotel now for free and analyze your hotel.
That's behind cohort analysis
The term “cohort analysis” is currently very common, especially in online marketing, and is a term used by every marketer. For example, there is an entire area in Google Analytics that deals with the cohort analysis of a website.
But what is behind it? The term “cohort” refers to a group of people who share a similar demographic characteristic. This could be the same year of birth, decade of birth, or date of school enrollment, for example.
Based on cohort analysis, behavioral changes in a group with a common demographic characteristic can be measured and evaluated over a certain period of time. Originally, this technique comes from population science. Today, it is used in various other scientific fields.
So-called “cohort effects” can be analyzed when a cohort stands out from other cohorts due to a specific behavior. For example, consumer groups of the same age at different years can be analyzed. Each individual cohort develops specific characteristics and buying styles for their own group.
Cohort analyses have now become immensely important. Especially in marketing, they provide data to find out more about user and buyer loyalty. It is possible to make evaluations of the buying behavior of website visitors from a specific region. You can see whether they are new or returning visitors. This can take into account how often certain age or regional groups visit the website.
Based on the figures and evaluations, specific campaigns and marketing measures can be taken to encourage individual age groups to return visitors.
This can also be transferred to the hotel industry. Until now, it has hardly been possible to collect and select data from guests accordingly and to make statements about guest behavior.
Cohort analysis for the hotelier
But why shouldn't a hotelier draw on proven mechanisms from other scientific areas? The added value of such figures and analyses is immense and can redefine the entire booking behavior.
Of course, there are different KPIs and values in the hotel industry that are important than in an online shop. It doesn't matter who the guests are or what age group they belong to, but rather the booking period. Happyhotel therefore takes the booking time into account in the cohort analysis. In other words, how long in advance is a booking made.
How do top hotels analyse their figures?
Detailed and broad analyses are not uncommon in top hotels, but the most important key figure is probably the pickup truck. Since this value is required in many different departments, most hotels have hired extra staff (data analysts) for it. This is often only the case with chain hotels, but even small hotels can learn a lot from it!
Top hotels very often use tools that allow them to analyze the data. This allows them to make statements about guests' booking behavior. happyhotel is a tool that helps hoteliers analyse their data in a structured way and obtain their pickup report.
Create your pickup report and get started with your analysis! You can also test happyhotel with demo data.
Happyhotel problem solver — your dynamic pickup calendar for cohort analysis
With happyhotel, you always have your pickup calendar up to date. You can see at a glance how many guests have booked and for which period of time. So you won't miss anything anymore and you'll see everything with just one click. Regardless of whether you are a revenue management professional or whether you want an overview of figures as a hotelier, this pickup calendar will improve and speed up the way you work. With just a few clicks, you'll receive your individual pickup report.
Here are a few screenshots of our favorite feature in the analysis area.
The cohort analysis table is dynamic and clickable. For example, switch the perspective from the annual overview to the monthly overview.
Based on the pickup report, you can see when there is an increased demand for bookings for a following month. On the picture, you can see the amount of bookings in June for the month of August.
In the cohort analysis, you can choose your opinion between the booking quantity (units), nights (number of nights per booking) and booking value in euros.
You won't miss anything here anymore! The list is always up to date and should be your most important source in everyday business.
Would you like to test Happyhotel yourself? Dann Start now for free and without obligation!
There are many other ways to filter and analyze your data. For example, you can easily see the status of a booking and filter the data accordingly. Other filters include: turnover, nights and booking channels, and more.
conclusion
Based on my experience with hotels in the area of business and marketing, we have built a table that really saves you a lot of time. In the past, you had to laboriously maintain this by hand (Excel) and forward it to all agencies you work with. Today, this can be handed over digitally to all agencies and thus you pick up speed. I would recommend that every hotelier digitize themselves piece by piece. Only then is it still competitive and has a sustainable business model.
