SKYRUN ESTES PARK

Exposed untapped revenue opportunities and transitioned into profitability.

The story

Challange

Strategic cash flow management was critical to balance explosive growth and profitability.

Before using Intrava, SR Estes Park went through significant growing pains. Operations manager, Lowell Richardson, said that when he joined the company in 2017 there was no markup on labor and services provided. The business was operating in the red initially and a more strategic approach to cash flow management needed to be implemented. “We felt awfully short of achieving any goals we had set last year. The company was still in the growing stages, and what we were focused on was managing the growth, last year we grew at 400% and this year we are trending at 296%.” said Lowell. As managers of private people’s second homes, SR Estes Park has large payment obligations to homeowners every month. Clearly identifying when and how much revenue they will collect and planning for outflows is important to keep property owners happy, retain them as customers, and win new business. Furthermore, optimizing rates was difficult because it would take hours of manual excel wizardry to plot key performance indicators like ADR, OCC, and RevPAN on the same graph and dynamically inspect their relationship.

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Solution

A data platform enabling the company to identify lost revenue opportunities across services and carefully monitor margins and rates.

Through a database connection to the proprietary SkyTrax Property Management Software system, Intrava was able to automatically extract all of the important data elements needed for analysis. By implementing a sophisticated data transformation framework Intrava was able to clean and break down the data to its lowest grain so that data could be presented in the right visual context to drive better decisions. “I think Intrava is an awesome product, and I’ve looked at a lot of things, I used to be a purchaser of high-end software systems in law enforcement, and this seems to be the best in my estimation because it provides me with the business management side that none of the other software does. Intrava takes the hard data and translates it into meaningful context so that I can make good business decisions.” Said Richardson. Intrava’s ability to improve data is critical to analysis, being able to inspect your occupancy on a specific day is normally not possible with raw data from a property management system. The data points that are typically generated is a start date and an end date, but no record for each individual day during the stay period. For instance, Intrava has a data enhancement algorithm that is applied to all customers with rental data. This specific algorithm reads the start and end date and creates additional records so that customers easily can inspect their performance on any given day. It is data manipulation processes like this that enable ultimate flexibility in dashboard design and development.

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Benefits

Grew YoY fee revenue by +5%, found optimal occupancy level (85%), and transitioned into profitability.

With Intrava SR Estes Park was able to identify missed revenue opportunities in their services and were quickly able to add a markup on a variety of services like maintenance calls, housekeeping, and more. Resulting in a 5% YoY revenue increase on service fees, which account for more than 30% of their overall revenue. Furthermore, SR Estes Park is using average daily rate and occupancy trendlines to price their properties surgically. Based on their occupancy in any given month in the future or current they will make adjustments to maximize income for their homeowners. “In the view of some homeowners and even some experts they [pricing changes] appear to be aggressive, but at the end of the day occupancy has a direct correlation to revenue, and what we are finding is that the optimum number is 85% occupancy. If we can get the ADR as close to that as possible, we find that it covers our cost, makes us a profit, and keeps the owners’ property full.” Said Richardson. Lastly, we asked Lowell how he would go about getting the same information without Intrava, and if it would be more work. “Haha! I don’t think I could do it. I can pull some stuff out of the SkyTrax system [PMS], but it’s not a data reporting software, it’s more of a database system. I would have to figure out how to identify and transfer all the data into excel, but that would be such a manual nightmare. With Intrava, it’s just a click of a button. When I want to measure trends and look at it month by month I just go into the sales portal and it’s really easy, you click on booking dates, you pick your stay dates, and then month by month I can analyze the metrics I’m looking for. It helps me identify if we need to do markup or adjust the ADR, and then I can talk to Greg and he will go in and mess around with the rates because he seems to like that.”

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Finding the right balance between occupancy and price is extremely important to our business. I don’t know what I would’ve done without Intrava.

Greg Rosener

CEO

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