The process of running any kind of property, more so property in the hotel industry is not quite a walk in the park. The managers and owners of most medium-sized and small hotel property usually have the uphill task of coming up with reports regularly and at times even on a daily basis. Given that in 2017, the average hotel occupancy rate in the US was 65.9%, there are myriads of reports that a property manager is required to make to have a better grasp on the hotel’s state of affairs, especially in the operations and logistics sector. Some of the aspects that need to be kept under a microscope include reservations, inventories, PMS management systems, and revenue, among many other sectors.
As much as coming up with reports could come off as tedious and bothersome, you find that it is the best example of a necessary evil due to the impact that it has on a hotelier’s life of running the hotel in the long run. For your property to run smoothly, and especially in the hotel and hospitality sector, there are some key areas that you need to ensure that you have in-depth reports about. Some of these main reports that will propel the performance of a hotel to the stratosphere have been expounded on below.
