Hostelbench users who are members of STAY WYSE will receive additional performance-based benchmarking data sets.
AMSTERDAM / DUBLIN – STAY WYSE the global association representing youth travel accommodation and Hostelbench the leading benchmarking service for hostels have signed an agreement to collaborate on data provision to the hostel sector. In addition Hostelbench users who are members of STAY WYSE will receive additional performance-based benchmarking data sets.
Key performance indicators such as Occupancy, Bed Rates and RevPAB (Revenue per Available Bed), are used to compare a hostel’s individual performance against their market and an individually selected peer group of competitor hostels. STAY WYSE members will in addition, at no extra cost, receive data sets on booking lead times, booking sources, supplementary revenues and customer travel profiles. STAY WYSE members can sign up for the service here.
Mikael Hansson, Hostelling International CEO and STAY WYSE board member stated “this will allow STAY WYSE members to make informed decisions on a variety of different KPI’s. Benchmarking will enable our members to identify market trends at an early stage and proactively plan strategies rather than relying on ad hoc adjustments. Partnering up with Hostelbench was an obvious choice as the Association looks to further develop industry research and market intelligence to enable us to inform the policies, services and products which make international travel exciting, safe, accessible and affordable for young people.”
According to Fergal Mc Carthy, Founder of Hostelbench “Benchmarking has been available for 28 years to the Hotel Industry, it is time to bring the same level of business intelligence to hostels…and as an Enterprise-Ireland backed company we have the strength to approach this exciting venture with a global market outlook”.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
