The hospitality market is as competitive as ever, as a stronger economy means that heady consumers and business travelers are looking for the greatest experience at hotels and resorts. These guests want excitement and customized amenities driven by reliable technology to go along with a comfortable bed to sleep in at night.
From the business perspective of hotel operations and financial management, KPIs and performance measurement mean everything. The concept of RevPAR, is top-of-mind. RevPAR is the key performance metric in the hotel industry calculated by dividing a hotel’s total guestroom revenue by the room count and the number of days in the period being measured. It all comes down to optimizing all the space invested in to the benefit of happy guests who continue to spend and generate revenues.