Introduction to Demand Management

Created by Alex Savchuk, Modified on Fri, Mar 15 at 6:58 PM by Alex Savchuk

Demand Management enables you to:

Set occupancy and ADR goals, and see your improvement over last year
Receive 24/7 notifications for reservation surges
Easily track performance with daily, weekly, or monthly Performance Digests
Maximize occupancy and revenue with even easier ways to change rates in response to alerts

Increase occupancy, boost revenue, and know about every important uptick that drives your business in the same innRoad PMS that you already use. If you’re away from the hotel, timely email notifications will also alert you to reservation surges and overall revenue performance.

No more time-consuming custom spreadsheets. No more missing opportunities. Save time, make more money, and keep your goals in sight.

Easy Setup

Navigate to Inventory > Demand Management. If this is the first time you’re using Demand Management, you’ll see a handy setup wizard:

Click on the “Get started” button at the bottom to begin setup.

Goals

We’ll ask you about the two metrics that will drive Demand Management—Occupancy and ADR. Have those numbers ready, and we’ll start with a few quick questions to get you set up.

Letting innRoad know your goals for the year helps in a few ways:

Manage weekly, monthly, and yearly performance
Optimize rates and occupancy based on your goals
Get notified at critical milestones

And it’s all calculated automatically. We’ll notify you when you hit critical thresholds, and we’ll highlight daily opportunities based on alerts that you define and that you know work for your hotel.

Let’s setup your new Demand Management system.

Set Goals -Step 1: Select performance interval

Choose to measure occupancy and revenue by month or by week, then click “Next.”

Set Goals -Step 2: Forecasting

Enter your ADR and Occupancy goals for the year. If you’d like to break out goals by weekday and weekend, click the toggle at the top of the page:

If we have your previous year’s data, “Previous year ADR” and “Previous year occupancy” will appear here automatically.Note that “Projected revenue” is based on your goals for the year rather than actual revenue totals.

Notifications

Notifications give you around-the-clock alerts on your hotel’s performance along with the information you need to make informed decisions quickly.

Demand Management provides two types of email notifications:

Performance Digests(Daily, Weekly, or Monthly)
Reservation Surges

Performance Digests give you a quick, bird’s-eye view of your hotel’s performance, and Reservation Surges inform you immediately when your bookings are much higher than normal. Let’s see how to set these up.

Add Emails to Receive Notifications

First, enter the users you’d like to receive email notifications:

If you’d like to send an email to someone who does not yet have an innRoad user account, you can create a user for them.

Performance Digest

Performance Digests give you a daily, weekly, or monthly snapshot of your hotel’s performance. See how close you are to your goals, and get insights to help you exceed them:

Set Up Performance Digest

Start receiving Performance Digest emails by clicking on the toggle and choosing frequency:

Reservation Surges

Reservation Surges are sudden increases in reservations for a specific date. A big football game could be rescheduled, a nearby venue could book a new concert, or a solar eclipse could cause your reservations to skyrocket. If you don’t catch reservation surges right away, you will book significant numbers of rooms at a lower rate.

Instead of leaving money on the table, try innRoad’sReservation Surge Notifications. Whenever a reservation surge occurs, you’ll immediately receive an email notification and the surge will be highlighted on yourRates Grid so you can take action.

Set Up Reservation Surges

To enable Reservation Surge Notifications, click on the toggle and define what would be a high number of bookings for the same date, in a short amount of time for your property:

If bookings exceed this threshold, you’ll be notified instantly via email and on your Rates Grid, allowing you to identify the surge and change your rates or other revenue drivers accordingly.

Occupancy Alerts

Lastly, you’ll define positive and negative occupancy alerts for your hotel. These alerts will appear as “Opportunities” on the Rates Grid and in your Performance Digest email, highlighting specific days where you might want to take action to drive additional revenue. Positive occupancy alerts notify you when your occupancy is:

Greater than your occupancy goal

Ahead of last year’s pace at the same time

How Pace is Calculated

We compare a specific booking date with the same booking day of the week last year. For example, we would compare Tuesday, April 2nd, 2019 with Tuesday, April 3rd, 2018 because they are both the first Tuesday of April. Keeping the day of the week the same allows us to calculate pace accurately, avoiding a comparison between different days of the week (such as Sunday and Monday) that might have significant occupancy differences at your property.

Negative occupancy alerts notify you when your occupancy is:

Lower than your occupancy goal

Behind last year’s pace at the same time

You can also limit your alerts to a specific time period before check-in. For example, “Current occupancy is more than 10% behind my goal with...

...less than 10 days before check in date
...between 5 and 10 days before check in date

These date parameters allow you to hone in on the critical checkpoints for your hotel. Instead of just checking once after your weekly revenue management meeting, enter your rules here in the “Rates innSights”tab and automatically see highlighted Opportunities on your Rates Grid and in your Performance Digest email whenever your alert rules are met.

Whether you’re above or below your yearly goals and pace, these are both great moments for adjusting rates, driving occupancy, and maximizing revenue.

Adding & Editing Alerts

Underneath each notification type, click “+ Add another rule” to add more rules. In addition, you can disable or completely delete rules:

After you’ve set up your Reservation Surges and Occupancy Alerts, you’re all set! Click the“Save” button and navigate to the “Overview” tab to view Rates Grid Highlights.

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