Today, we get to publish another press release about our recent event and this time is a collaboration with DIKE UGM. We end our June with this fun webinar and ready to set another exciting and inspiring events from Bukit Vista to fellow university students.
How do we strategize hospitality innovation with technology and data?
Kak Vidiskiu Fortino as our Senior Data Scientist and Kak Bella Christina as our Revenue Management Specialist shared their stories working in Bukit Vista to help answer that big question. They showed the audience what they’re dealing with everyday in order to achieve the company goals.
“technology is one type of tool that provides solution. It can actually increase efficiency and improve overall experience”
Kak Vidi explained that we need technology to make everything easier. One case in Bukit Vista as an example is load of bookings coming from different sources in different properties especially when peak season is happening. Without it, we would loose track of our own clients (guests) and bad reviews will show up.
But how do we keep the tools simple to use for everyone? Everyone means the guests and fellow partners in Bukit Vista. We called the app BV GO. It can monitor a property, check and update guests with transparency also automated.
He later showed the students a demo of the tools that Bukit Vista using, he pretend to make new settings by inputting some new codes to the system. The students which has Computer Science background was amazed on how ka Vidi did it.
Kak Bella continues the presentation with more simple explanations. As a revenue management we ask questions like how can we create a good strategy by making use of those data provided?
What is strategy? Strategy is a documented plan on how a company is setting our to strategy to achieve the goals. There are 5 important element in forming a strategy, it can be memorize as the word SMART for Specific, Measurable, Achievable, Relevant, and Time bound. A method we all familiar with since college or even school.
Why strategy is important? Strategy can help us guide how well the company is able to perform. Help us set goals by generating the vision and mission of the company and last is trends by identifying the current and future opportunities.
How to start? gather data. Turn it into information or insight as consideration for decision-making as the first step to create strategic planning and achieve the company goals.
“don’t assume, use data to make decision at bukit vista.” as one of Bukit Vista’s core value.
Well what kind of data are we talking about in hospitality industry like BV? it could be number of occupied rooms in Bali from time to time, number of arrivals and departures to Indonesia, average daily rates, revenue per available room, booking window, and monthly length of stay.
What’s the next step? to have data-driven decision-making. We have to use a facts not assumptions to consider alternative decisions, use data also metrics if needed to align strategy with goals.
What’s revenue management looks like in hospitality innovations like BV? Kak Bella explains that her daily activity is determine the best distribution strategy, rates setting and budgeting, perceived value pricing, and knowledge-based decision making. Plan ahead for rates setting with pricing strategy to optimize the revenue and reach the company goals or targets.
To do all that, yourself have to prepare the skills. Which are analytical skills, data driven decision making, communication excellence, and detail understanding. Do you have those skills? If you are, come and join us to improve those skills more by doing the actual things in Bukit Vista!
Bukit Vista is a property management start up company based in Bali, Yogyakarta, and Nusa Penida. We are currently open for Flutter Development, Revenue Management, UI Designer, UX Designer and many more! Head on and apply directly at our job landing page and let’s positively transform together!