Space Revenue Optimisation Report
Learning Objectives
At the end of the Thynk University lesson you will know…
How to find function room occupancies
How to find out how much revenue is booked by periods of the day
How to find out which function room setup types are used heavily in which function rooms
How to find function room occupancies for a specific property
How to find how much revenue is generated per unit of space
How to see if we are booking enough guest rooms to go along with booking function spaces
Report Overview
The Space Revenue Optimization Report allows you to analyze function space usage for a property or a range of properties and evaluate how to maximize your overall profitability. It’s a very thorough dashboard that will help you sell your space more effectively.Report Uses
Highlights need periods where availability is high so you can define and execute a strategy to fill your unoccupied space.
Shows the frequency of a function space being booked and how much revenue is generated by those bookings.
You can see if you are selling enough guest rooms with your function space.
It shows the comparison of the time periods a function space is being used each day - maybe you want to offer incentives to customers to book during periods that function space is not often used.
Allows you to get valuable information to share with ownership for budget considerations in the future.
How to View The Report
To view this report, follow these steps:
At the Home Page, click on ‘Thynk Dashboards’ (if you don’t see this as a tab go to the ‘App Launcher’ and type it there and select it). Here, click on Space Revenue Optimization.
You will see several tabs on the top, starting with Summary, Occupancy, Revenue, SRR (Space to Room Ratio), and RevPAS (Revenue per Available Space).
This dashboard will run on the following predefined filters, all of which you can edit as needed. These are: Date Range (the date of the booking event), Property, Function Space Type, Function Space, Booking Status, Event Type, Setup, and Time Occupied (these are predefined and show morning, lunch, afternoon and evening periods).
As in all other dashboards you can perform the standard actions:
You can change your filters. By the way, if you have changed the filters, and you want to go back to the original dashboard filters, click on the arrow next to ‘Modified’.
You can share the report, here you can download the report, share it or copy the URL.
You can add to Favourites. To remove from Favourites, click on the star button again.
For further information on how to read this dashboard, please refer to the Reporting & Analytics Course in Thynk University: https://learn.thynk.cloud/courses/take/reporting-analytics/texts/54139140-how-can-i-see-function-room-occupancy-so-i-can-make-informed-decisions-on-how-to-sell-space-space-revenue-optimisationRelated Articles
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