compares your business data against anonymized industry averages. This helps you evaluate your business performance, allowing you to identify opportunities to increase occupancy during off-peak seasons or improve guest satisfaction.
Accessing this feature
Go to Dashboard > Analytics > Industry Benchmarking
How to use it
Using the Benchmarking Analysis feature involves a systematic approach to comparing your data:
Select Your Comparison Group
Upon entering the Industry Benchmarking module, you are prompted to select a comparison group.
Options may include regional averages, specific tourism segments (e.g., accommodation, tours, attractions), business size, or operational model.
Choose the category most relevant to your organisation for an accurate comparison.
Define Your Metrics
The system displays a range of key performance indicators (KPIs) relevant to the chosen comparison group.
These typically include metrics such as occupancy rates, average daily rate (ADR), revenue per available room (RevPAR), guest satisfaction scores, online review sentiment, visitor numbers, or conversion rates.
Select the specific metrics you wish to compare.
View Your Performance
Your organisation's performance data for the selected metrics is displayed alongside the anonymized industry average and, where available, data from top-performing businesses within your chosen comparison group.
Visualizations, such as bar charts or line graphs, illustrate the comparisons clearly.
Apply Filters for Granular Analysis
To refine your analysis, use the available filters.
You can typically filter by time period (e.g., quarterly, annually, custom date ranges), geographical region, specific demographic segments, or other relevant criteria.
Applying filters helps narrow the focus and provides more targeted insights.
Identify Performance Gaps and Strengths
Review the comparative data to identify where your organisation exceeds industry averages and where there are opportunities for improvement.
Pay attention to significant deviations, both positive and negative.
Export Data (Optional)
For further offline analysis or reporting, an option to export the displayed data in various formats (e.g., CSV, PDF) is available.
This allows for integration with internal reports and strategic planning documents.
Tips
Establish a consistent schedule for reviewing your benchmark data. Quarterly or monthly reviews allow for timely identification of trends and proactive adjustments to strategy.
Focus on actionable insights. Do not merely observe discrepancies. Prioritise understanding why your performance differs and formulate concrete actions to address identified gaps or capitalize on strengths.
While industry averages provide a valuable reference, always consider your unique business model, market niche, and strategic objectives. A deviation from the average is not inherently negative if it aligns with your specific strategy.
Integrate benchmarking insights with your internal financial, operational, and guest data. This comprehensive view provides a comprehensive understanding of your performance and market position.
Use benchmark data to inform your target setting. Aim to close significant performance gaps and, where appropriate, strive to surpass top-performer benchmarks.
Share benchmarking results with your team and relevant stakeholders. This encourages a data-driven culture and ensures alignment on strategic priorities and improvement initiatives.
Ensure your internal data, which feeds into the benchmarking system, is accurate and up-to-date. Reliable input guarantees reliable comparative analysis.
Need help?
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