To plot the best path forward, sometimes it helps to look back. In our world, that means examining hospitality performed over the past year – and how your property shapes up against these benchmarks.
This requires lots of data, and that's where we’re in our element. And so we humbly present The Mews Data Dive 2023, a summary of industry performance, trends and analysis. Even if numbers aren’t usually your thing, it’s beautifully packaged and easy to digest. In other words, there’s no excuse not to hit that download button.
What’s in the Mews Data Dive?
There’s no unified set of must-track metrics for hoteliers – at least, not yet. Although our guide on New Era of Hospitality Metrics for General Managers sets out to change that.
In this year’s Data Dive, we included a combination of the most commonly tracked hospitality metrics and some that you may not yet be tracking but definitely should.
For each of these 12 areas, we compare last year’s performance against 2022 so you can see the industry’s direction of travel. You’ll also be able to assess where your strengths and areas for improvement are in order to optimize operations for even more success in 2024.
Here are the metrics we cover:- Occupancy
- Domestic travel
- Online check-in and upsells
- Direct bookings
- Booking lead times
- Rate types
- ADR and RevPAR
- RevPAG
- Additional bookable services
- Staff turnover rate
- Chargebacks
- Integrations
Data Dive sneak peek
To get a flavor of what’s inside, let’s take a closer look at one of the metrics.
Booking lead time is important – it helps you plan and time your marketing offers and revenue management to maximize reservations and income. Here’s how 2023 looks compared to 2022.
The number of same-day and short-notice bookings has fallen in 2023. The biggest change from 2022 is in long lead time reservations: one third of all bookings were made at least 30 days in advance.
However, when we dive a little deeper, there’s a striking difference in the booking habits of men and women. Men are more than 60% more likely to make a same-day reservation, while women more often have longer lead times.
The takeaway from this? Traveler confidence continued to grow as booking lead times (and non-refundable reservations) increased, particularly with female travelers. Based on this, why not try segmenting your marketing comms based on gender?
Download the Mews Data Dive 2023
Did occupancy improve year-on-year? Are staffing shortages still playing havoc with turnover? What are the top integrations that properties rely on?
The Mews Data Dive answers all these questions and more, making it a must-read for any hotelier.
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