How to Master Your Weekly Revenue Call with Lighthouse BI

Revenue management calls are the cornerstone of strategic decision-making for hotel commercial teams. In this recorded live session, we help to guide hoteliers in mastering their weekly revenue strategy calls using our cutting-edge business intelligence platform. Here’s a concise breakdown of the session’s insights, benefits and actionable strategies.

Challenges in Weekly Revenue Analysis

Hoteliers frequently face these common hurdles during their weekly revenue meetings:

• Disjointed Data Sources: Collecting and aggregating data from PMS, RMS and external reports is time-consuming and prone to errors.

• Inconsistent Reporting: Misaligned KPIs, incorrect rate coding standards and other differences across properties lead to inefficiencies.

• Manual Processes: Revenue leaders spend excessive time preparing reports, leaving little room for strategic analysis.

Lighthouse BI addresses these challenges by automating data collection, integrating diverse data sets and providing dynamic, real-time dashboards.

Core Benefits of Lighthouse BI for Revenue Meetings

1. Centralized Data Access

All critical data points – PMS actuals, OTB (on-the-books), RMS data, benchmarking reports, competitor pricing and event impact – are updated daily in one platform. This eliminates the need for tedious manual aggregation.

2. Time Savings

Automation of report generation reduces hours spent on prepping for calls, freeing teams to focus on strategic decision-making.

3. Dynamic Insights

• Segment-level analysis highlights which business areas are thriving and which require attention.

• Drill-down capabilities offer transparency, allowing hoteliers to examine reservation-level details.

4. Strategic Collaboration

Teams can annotate live dashboards, align on strategy during calls and save revenue packets for future reference, enabling consistent performance tracking.

Practical Applications: Insights from the Live Demo

1. Data-Driven Diagnostics

• Occupancy Challenges: In Vince and Conrad’s scenario, midweek occupancy dips were identified as a primary concern. The platform’s segment-level analysis revealed shifts from retail to discounted segments and highlighted the fallout of a key group booking.

• Action Plan: Drive diversified group sales to avoid reliance on a single segment.

2. Focus on Long-Term Trends

• Length of Stay: The team’s effort to secure extended stays paid off, with notable increases in 7+ night bookings. Lighthouse BI’s historical comparison tools were pivotal in evaluating the success of this initiative.

• Action Plan: Build on momentum by targeting additional long-stay markets.

3. Real-Time Pickup Insights

• Heat Maps: The visual pickup tool showed areas of strong booking activity for the next 10 days but revealed softness in late December.

• Action Plan: Implement OTA promotions and brand accelerators to drive occupancy during slow periods.

4. Adaptive Rate Strategies

• Rate Opportunities: The platform’s rate shop capabilities led to the discovery of an opportunity to increase rates. 

• Action Plan: Several dates were identified as being opportunity dates where rate changes were warranted. Vince implemented a new, more aggressive rate strategy that would better maximize revenue

Actionable Steps for Hoteliers

To make the most of your weekly revenue calls using Lighthouse BI:

1. Automate Reporting: Centralize your data sources and eliminate spreadsheets.

2. Prepare Proactively: Leverage segment analysis and pickup trends to identify risks and opportunities.

3. Drive Collaboration: Use live annotations and saved packets to keep teams aligned.

4. Review and Adapt: Continuously monitor your KPIs and refine strategies using historical performance insights.