Stockholm - March 2024
RevPAR
+4,3% vs LY661SEK
TRevPAR
+1,9% vs LY1048SEK
On-the-Books
+25,5% vs LY19.3%
Solution
Conference Trends
Elevate your conference facility's success with our Conference Trends benchmarking solution. Our solution enables you to compare crucial metrics such as attendee numbers, and TCRevPAS against industry benchmarks. By participating in our collaborative data-sharing platform, your data contributes to a comprehensive pool of conference industry standards, helping you to gauge your event's performance accurately. This solution is designed to identify areas for improvement and uncover new opportunities for growth in the dynamic world of conference management.
- Key Performance Indicators Measured: Track a comprehensive range of KPIs including TCRevPAS, TCRevPD, DelPAS, and delegates to improve your conference's performance.
- Insights into Conference Market Trends.
- Data-Driven Strategy Development.
Get to know the product
Elevating conference performance: Comprehensive benchmarking with Conference Trends
How Conference Trends works
The Conference Trends solution efficiently retrieves conference data every day from integrated facilities, utilizing both automated data aggregation and manual reporting options. This robust approach guarantees a comprehensive collection of data. Importantly, the benchmarking is performed in relation to a compset that you define. This compset must be large enough to ensure the anonymity and integrity of the data. Once the data is collected, our system processes it to generate accurate and relevant KPIs and benchmarks. Users can easily access these insights through a user-friendly web interface, download them in Excel format for detailed analysis, subscribe to regular updates via email, or even import them into their own data warehouse if desired. By customizing the compset, Conference Trends ensures that the benchmarks are not only precise but also directly applicable to your hotel's specific market segment.
KPIs measured by Conference Trends
Conference Trends focuses on crucial KPIs that matter most in the hospitality industry. These indicators provide a comprehensive view of your conference facility performance, highlighting areas of strength and opportunities for improvement.
- TCRevPAS
- TCRevPD
- DelPAS
- And many more
Using benchmarking in Conference Operations
Conference Trends benchmarking is a powerful tool that can be applied at every level of conference facility operations. During management meetings, it serves as a data-driven foundation for strategic discussions, empowering leaders to make well-informed decisions by comparing market trends. For frontline teams, these benchmarks provide valuable guidance for daily operations, enabling staff to understand and meet industry standards. Moreover, the insights derived from benchmarking are invaluable for training purposes, ensuring that all team members, from housekeeping to the front desk, are aligned with the conference facility's performance goals. By seamlessly integrating benchmarking into regular team reviews and management strategies, Conference Trends becomes an indispensable component of your conference facility's continuous improvement and long-term success.
The ROI of using Conference Trends
Experience the tangible benefits of using Conference Trends for your conference facility. Gain detailed insights and actionable data that will improve operational efficiency, elevate guest experiences, and ultimately drive higher revenues. Conference facilities that utilize Conference Trends have witnessed an increase in TCRevPAS, optimized pricing strategies, and a boost in conference delegates. This investment not only enhances financial performance but also empowers you to make proactive, data-driven decisions, ensuring your hotel remains competitive and forward-thinking in this ever-evolving industry.
Don't just take our word for it
Being a customer since 2010, we have consistently relied on Benchmarking Alliance's Hotel Trends and On-the-Books to steer our decision-making process. The depth of analysis on key performance indicators have not only enhanced our strategic planning but also significantly boosted our market competitiveness. Their service is a game-changer for any hotel serious about staying ahead in the industry. There is not a day at the office when the Benchmarking Alliance-reports are not on the screen.
I am regularly using the On-the-Books report. It provides a clear and comprehensive overview of the markets future bookings. I use it in our commercial meetings showcasing our current performance but also in comparing us with our competitors. It's a great tool that helps us quickly understand why we are leading in some areas and gives us a chance to delve into reasons when we're trailing behind in others. This report has become an invaluable part of our work routine.
As a DMO Benchmarking Alliance is an invaluable tool in our daily work. It provides critical market insights and a broader view of the region's overall status. This information gives us confidence when discussing the tourism industry with the media, enabling informed comparisons. We are impressed with Event Intelligence, a standout tool for tracking major regional events and their impact on hotel occupancy and RevPAR in the Stavanger area. It provides us with a clear and actionable perspective.
Throughout our longstanding partnership, Benchmarking Alliance has proven to be a strong partner for us. Their comprehensive reports serve as a cornerstone for our revenue analysis, whether it is on chain level, for hotels on our revenue service or for individual properties. The reports offer great insights, not only shaping the strategy of our hotels but also driving the overarching strategy of BWH Hotels Scandinavia. The team at Benchmarking Alliance is great to collaborate with and always helpful.
As a mid-sized Swedish city, we greatly benefit from data-based analysis. Through Benchmarking Alliance, we gain a comprehensive view of how Linköping is developing as a destination, both in favorable and challenging times. The ability to compare with other cities, almost in real-time, makes this tool even more valuable. In short, we encourage all hotels in Linköping to participate in Benchmarking Alliance for their own benefit and for the advancement of Linköping as a destination.
Benchmarking is a valuable tool for evaluating your market position. It reassures you during peak season that your pricing is on point and during low season that dips in occupancy are a general trend. This comparison helps you understand the market better and identify dates where you can increase prices. Benchmarking a user-friendly tool that uncovers key metrics, allowing you to delve deep into the numbers.
How to get started
Get started in three steps
Step 01
Demo
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Book a demo
Begin your journey by scheduling a personalized demonstration. This initial step provides an opportunity to see the platform in action, understand its capabilities, and how it can be tailored to meet your specific needs. Our team will guide you through the features and benefits of the solution, ensuring you have a clear understanding of its value and impact.
Step 02
Integrate
Easy start and PMS integration
Once you decide to proceed, the integration process is streamlined and straightforward. Hotel Trends seamlessly integrates with your existing Property Management System (PMS), ensuring a hassle-free setup. Our support team will assist you in this process, making sure the transition is smooth and that the system is configured to align with your hotel's specific requirements and data points.
Step 03
Perform
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Benchmark and enhance performance
With an integrated solution, you can start benchmarking your performance against industry standards. This final step involves utilizing the insights and data-driven analysis provided by the tool to identify areas of improvement, set strategic goals, and implement changes. Regular use of benchmarking will empower you to continuously monitor performance, stay ahead of market trends, and make informed decisions to improve your operational efficiency and profitability.
Your data is secure
At Benchmarking Alliance, we have earned the trust of numerous large corporations due to our unwavering commitment to data security. Your data is more than just numbers to us; it's a vault of your business insights, deserving high level of security. Our reputation is built on a foundation of trust and confidentiality, ensuring your data remains unexposed and secure at all times. With clients that includes many reputable corporations, you can confidently entrust us with your data, knowing it will remain secure and undisclosed.
Integrations
All the essential integrations your hotel requires for seamless operations.
Seamless Integration with Leading Hospitality Solutions; Hotel Property Management Systems (PMS) and other Hotel Solutions.
Mews
Mews is a property management system designed to simplify and automate all operations for modern hoteliers and their guests.
Opera Cloud
OPERA Cloud Property Management simplifies IT and centralizes data, making information accessible to everyone, anywhere.
VisBook
Focus all your energy on your guests' experience with one smooth hotel PMS that manages everything - from booking to check-out and beyond.
Spectra
Release you from the limitations of older complex hotel systems and opens up the possibilities of a modern cloud solution
Stay updated with the latest news
Our solutions
The right solutions for your needs
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Hotel Trends
Unlock the full potential of your hotel's performance with our Hotel Trends benchmarking solution. Compare your revenue and occupancy rates against industry standards to identify areas of improvement and seize new growth opportunities.
Conference Trends
Elevate your conference facility's success with our Conference Trends benchmarking tool. Gain actionable insights by comparing your attendee numbers and revenue metrics against the industry benchmarks, empowering you to make data-driven decisions.
On-the-Books
On-the-Books is a forward-looking (365 days) benchmarking service that gives you the ability to compare future bookings. This tool is invaluable for anticipating market trends, helping hotels plan and strategize based on upcoming booking patterns.
Restaurant Trends
Restaurant Trends is a specialized benchmarking service designed for the restaurant industry. It provides in-depth analysis of critical industry metrics, helping restaurateurs understand their market position in comparison to competitors. Restaurant Trends gives restaurant owners and managers valuable data, aiding in strategic decision-making to enhance their competitive advantage.
Event Intelligence
Enrich your benchmarking reports with our Event Intelligence add-on. Integrate event calendar and information to correlate market trends with your performance metrics, providing a holistic view that informs smarter, event-driven strategies.
Hotel Market Reports
Specifically designed for hospitality investors, Destination Marketing Organizations (DMOs), and other interested in the hospitality market, Hotel Market Reports offer in-depth analyses and insights into the hospitality industry's performance and trends. These reports provide critical data catering to the unique needs of financial and marketing professionals in the hospitality sector.