Are you a new user to HummingbirdPXM? Are you wondering where you should start? Our platform has a lot of data to look at, and no matter your role (GM, Sales Manager, etc.), valuable insights are awaiting you! In this series, we cover ways to jumpstart your HummingbirdPXM usage and start finding value immediately.
1. Navigate to Property Insights. Select the time period you’d like to evaluate. Are you focused on the most recent month of performance? Or are you evaluating a special event over a shorter period?
2. Determine how your metrics and trends changed compared to the benchmark. Did your RevPAR, ADR and occupancy go up overall? Did the benchmarks? Did COPE RevPAR grow at the same pace as Guest Paid RevPAR? If not, your booking costs may have changed compared to last year. Over the time period, when did you outperform the benchmark? When did the benchmark outperform you?
The Blue Line is your Hotel. The Orange Line is the Benchmark Group.
3. Find areas of growth at your property. Select Rate Category X Channel to see which rate categories drove the channel changes. Where did your RevPAR grow? Where did the benchmark’s RevPAR grow? Do the categories that changed surprise you? Were they categories that you were targeting? Does everything seem to be performing as expected, or do you need to tweak your strategy?
4. Investigate your benchmark’s channels and rate categories. In the same view, compare your changes to the benchmark. Were you able to steal share? Did the benchmark grow in any rate category or channel that you would like to grow in? What ADR did the benchmark get for these growth opportunities? Select different metrics to gain more insights on the business in the market.
HummingbirdPXM is designed to cut through all the clutter hotel operators face everyday. Zero in on what opportunities in your market matter and understand how you and your team should be spending your time to capture the best revenue available!