The Opportunities tab in Revenue Intelligence serves as the central hub for revenue managers to gain insights into their property's performance, identify potential revenue opportunities, and take actionable steps to optimize pricing.
When you access your account, you'll be redirected to the Opportunities tab, also known as the Home page of the Revenue Intelligence portal which gives you a complete look at your property's current performance and highlights areas where you can boost your revenue.
At the top of the Opportunities tab, you'll find:
- Property Selector: Choose your property or selection of properties.
- Date Range Selector: Use this to select the date range for the displayed data. The default is the current month, but you can choose any date range or a custom range over several months.
- Pickup Range Picker: This filter allows you to compare your bookings and revenue to yesterday or the past seven days. It is essential for revenue managers to understand demand trends and evaluate pricing strategies. Select your desired timeframe to analyze key metrics effectively.
Key Sections of the Opportunities tab
The tab is organized into several key sections, each providing specific information to help you understand your property's revenue opportunities.
Performance Overview
This section on the left summarizes your property's key performance indicators (KPIs) over the date range you've selected. The four metrics cards are:
- Room Revenue: It's the revenue related to the room itself. It doesn't include additional things like breakfasts which would be F&B Revenue, pet charges, or parking which would be classified as Other Revenue.
- Occupancy: The percentage of available rooms that are booked.
- Average Daily Rate (ADR): The average revenue earned per occupied room. It is calculated by dividing your room revenue by the number of rooms sold.
- Revenue Per Available Room (RevPAR): The total revenue generated per available room, whether it's booked or not. It captures your room revenue divided by the total number of rooms on your property.
As you click through the different metrics, you'll see the bar chart change too.
This dynamic chart offers revenue managers a quick glance at your property's performance, showing how you're doing this year compared to previous years and how much you've sold in the last seven days. It’s a highly useful tool for a swift overview.
You will find additional tools to customize your view:
- Chart Legend: When viewing the information in Bar Chart mode, you'll see a legend explaining what each colored line represents. You can also hover your mouse over the graphic to see the same legend along with the corresponding figures in your local currency.
- View Mode Button: By default, the information is displayed as a Bar Chart. Click the table button to switch and view the information as a Table.
- Timeframe Dropdown: Use this dropdown to streamline the information, viewing it by day, week, or month.
Opportunities or Rate changes Section
This section is on the right side of your screen, it gives you a prioritized list of opportunities for your property or your immediate top recommended rate changes. Each opportunity points to a specific date or date range where Revenue Intelligence has found a chance to improve revenue.
For each opportunity, you'll see the following information:
- Date or Date Range: The specific dates that the opportunity applies to.
- Recommendation: It displays two room rates, the current one on the left and the suggested one on the right.
| ⓘ Clicking on a specific day reveals rate change recommendations and estimates the financial benefits of following them. Learn how to use this feature here. |
Interpreting the Data
The data on the Home page is designed to be easy to understand, helping you make smart decisions.
- Prioritize Opportunities: The "Opportunities" section helps you focus on the most impactful actions. Look at the "Impact" metric to find opportunities that could bring in the most revenue.
- Understand the Reasoning: The "Reasoning" for each opportunity gives you context for the recommendation. This helps you understand why Revenue Intelligence is suggesting a particular action.
- Monitor Performance Trends: The "Performance Overview" lets you track your KPIs over time and spot trends. This helps you see how well your pricing strategies are working.
- Anticipate Future Demand: The "Upcoming Demand/Forecast" section allows you to manage revenue proactively. By understanding future demand, you can adjust your pricing and availability to benefit from high-demand periods and manage low-demand periods effectively.
| 💡 By regularly checking and acting on the insights from the Revenue Intelligence Home page, you can optimize your pricing, maximize your revenue, and improve your property's overall financial performance. |