I have just concluded this second month of EYE at Ok Hostel and I have increased more and more my personal and professional skills.
In this last period, I have improved my managerial competences widening the knowledge of the use of the property management system Cloudbeds. In particular, the manager Diogo taught me how manage the reservations made by big groups. This kind of reservations represents a good opportunity for the business of the hostel. In fact, these kind of reservations do not pass through the OTAs, as Booking.com, Expedia.com or Hostelworld.com that let the Hostel to earn a 15% more over the reservation.
Moreover, there are different criterions to appraise before the acceptance or a refusal of a group. It has to be composed by at least 20 people up to a maximum of 50 people.
The most important aspect is that it is not advisable to book groups during Friday and Saturday, especially when the hostel reach a high rate of bookings. So, before accepting it is recommended to check the Calendar in order to make a convenient evaluation. In general, the best moment to rent is between Sunday and Thursday.
Another important aspect is considering the length of the stay. In fact, if a group reserves an accommodation for 4 days, there are savings on the costs.
I have also learned some strategies to understand whether to increase the price of the beds, depending if it is an individual room, 4 or 6 mixed dormitories or female shared room. It exists a platform used for the hotel and property revenue management called “OTA insight” which provides an industry-leading revenue maximisation tool for the business. This automatic platform allows to consider the Bar (best available rate), which compares the rates with those of the other hotels.
During this period, I am really happy that I am passed to work behind the scenes where all the important managerial decisions are taken. Even if I have to admit that the “social life” of the Hostel is the task that I love the most.
