benchmarking

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benchmarking

Hotel Benchmarking Reports: The Value of Monthly Data

May 30, 2019

By David Eisen Sometimes, the best way to begin a blog is by borrowing a quote. It's admittedly a conceit that helps contextualize your subsequent thoughts—an artistic device, like a voiceover in a movie. So that's what I'm going to do here to begin; use someone else's words to illustrate my own thoughts. In this instance, I turn to W. Edwards Deming, whose Wikipedia page explains that he was an American engineer, statistician, professor, author, lecturer, and management consultant. In perfect symmetry, he passed away in 1993 at age 93, and over the course of his nine-plus decades became regarded as having had more impact on Japan...

Hospitality Financial Leadership: Benchmarking and Key Business Indicators

David Lund | May 28, 2019

By David Lund This thing in the title of this piece, I want to say was a fad that died already. Benchmarking and KBI's were all the rage a decade ago and now, today, you don't hear much at all about their usefulness or how to create them. There is a good reason they have fallen out of sight in the hospitality industry – read on to find out why. In a former corporate life, I was the author of a quarterly exposé of benchmarking for approximately 50 different measurements for about the same number of hotels. I thought the information was revealing and it created a path forward for "continuous improvement." In this piece I am g...

New Vizergy® Whitepaper – “The Best, Best Practice: Digital Benchmarking for Hotels”

Vizergy | April 21, 2014

Complimentary Paper Authored by Digital DNA Infusion, LLC Provides Platform to Compare Your Property to Comp Set and Find Revenue Opportunities Jacksonville, FL (April 21, 2014) - Benchmarking is perhaps the hottest hot topic in the hospitality industry. While a quick search yields countless articles and opinions, Digital DNA Infusion, LLC and Vizergy worked together to provide a platform for hoteliers looking to refine their benchmarking. Most hotel marketers use STR Global/STAR Reports, their own historical data and credible industry studies to compare performance to their comp set and the industry, but there are often common faults a...

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