Our presenter will be:
Director of Customer Success
TOPIC: Revenue Counts, But Profit Matters - Benchmarking the Bottomline
Tanya Venegas, MBA, MHM, CHIA is the Director of Customer Success at HotStats, Inc. a company that provides hotel profitability intelligence. Previously, Tanya was the Executive Director of the HFTP Americas Research Center at the Conrad N. Hilton College. She has served on multiple HFTP councils and committees at both the local and global level. Tanya regularly speaks at industry events and has written numerous articles for global hospitality finance and technology publications.
HotStats provides a unique profit-and-loss benchmarking service to hoteliers from across the globe that enables monthly comparison of hotelsí performance against competitors. It is distinguished by the fact that it maintains in excess of 500 key performance metrics covering 70 areas of hotel revenue, cost, profit and statistics, providing far deeper insight into the hotel operation than any other tool. The HotStats database totals millions of hotel rooms worldwide. For more information, visit www.hotstats.com
1. Learn the importance of comparability in the benchmarking process, key resources to assist in matching to industry accounting standards and common items which are often mis-recorded.
2. Learn the types and steps in the benchmarking process and how to utilize them in your operation.
3. Learn key departmental operating metrics utilized in both clubs and hotels.
In this session we will take a deep dive into benchmarking to provide a full understanding of the concept including its history and evolution into the practices we utilize today. The importance of standardizing data is a crucial element of the benchmarking process and resources such as the various uniform systems including the USALI and USFRC will be covered. Finally, this session will highlight metrics utilized in operational benchmarking along with the key steps in the benchmarking process.