Every hotel, big or small, collects and processes a lot of different information and files every day. Without a doubt, clarity plays a very important, if not the leading role. All data on essential components of hotel operations should always be up to date and available to all staff members who have any relation to them. Otherwise, incorrect and bad data may undermine business. Gartner's research found that poor data quality costs companies about $15 million annually and may reach more than $3 trillion per year at the macro level.
This problem ends with well-organized, concise, and easy-to-follow reports as the latter help understand and evaluate past operations and plan future ones. For instance, statistics on room occupancy, average room rates, the number of guests, sales per day, etc. This enables the responsible employees to react quickly to changes, which makes the workflow in a hotel much more efficient.
Hoteliers may also opt for effective digital tools. In this respect, HotelFriend Property Management Software has the reporting module to ensure all hotel reports are accurate, complete, and compliant. Below let’s compile a list of essential reports that are easily generated in our system.
12 essential reports that will improve hotel management
Having correct data summaries is important because it goes beyond just comparing the financial results and calculating profits. Instead, it allows to see what’s going on in the hotel, starting from resources and personnel planning to data analysis, revenue, and cost optimization, as well as improving inventory management and forecasting.
Here is an overview of must-have reports that will help to increase the efficiency of the business processes.
|Development and management report||Hoteliers can get a clue about how well the property is performing, get information on nights, booked revenue, and invoices by days, months, and years.|
|Financial report by sales channels||It allows to determine which distribution channel has brought more revenue and make plans for the future.|
|End-of-Day||It is generated to balance and close hotel records, reconcile guest folios and their transactions. This report shows all essential data for one working day: revenue, room occupancy statistics, and payments. The daily closing report is irreplaceable for the night audit.|
|Account Balance||It displays all guests’ payment information providing data on how much they have already paid and how much is left to be paid. The report also presents the balance of all bookings made at the hotel on that day, including the guests who are departing.|
|Cancellations||It includes a list of all canceled reservations for a day, including the cancellation fee, date and time, and the full name of the employee who performed the operation.|
|Check-In /Check-Out||This report presents the list of rooms and guests who have checked in and out for one day. It allows to see clearly who is arriving today, who is about to leave the property, and track changes in hotel occupancy. If a hotel manager creates a check-out report on the current day and the next day, he or she can avoid such potential issues as overbooking, detect the guests who have not checked out, and plan daily logistics better.|
|No Shows||This is a list of all bookings where guests have not checked in, with detailed additional information on arrival and departure date, room type, room price, and the total amount paid.|
|Guest report||It displays all the guests currently staying at the hotel. When creating the report, it is possible to specify the category and arrange the data by guest, company, room, etc.|
|Housekeeping||This report shows the list of rooms with cleaning and reservation statuses, the cleaning priorities with comments and notes regarding definite rooms. It allows the cleaning staff to prepare the room on time.|
|Meals list||This report presents a list of dishes and beverages guests have ordered at the hotel for a day. There are 3 fields: breakfast, lunch, and dinner. In each field, hoteliers can clearly see the number of guests, number of servings, and a notes column (delivered or not, and why).|
|Tourism statistics||It helps determine and present the ratio of available rooms and beds to actual hotel occupancy, arrivals, overnight stays, and departures.|
|GoBD report||It allows hoteliers to make their tax process not only paperless and digital but also meet the current GoBD requirements avoiding trouble in the course of tax audits and other legal problems.|
Without a clear picture of what the property or its departments are doing, it is difficult to make the right decisions and long-term planning, as well as prove that the hotel process documentation is GoBD-compliant.
The good news is that generation of reports has become automated which means reduced workload, delivery of more accurate results, and an increase in time and productivity. Every hotelier can benefit from a properly organized reporting system starting from day one of its implementation.
Take care of the daily success with the hotel reporting software and make your life easier. Let the smart products from HotelFriend work towards your business goal.