Last updated 4 November 2022 ·
The leisure and hospitality industry includes food and beverage services, events, accommodation, and recreation. Hospitality is a dynamic sector, with many companies employing many people across multiple locations. Establishing company-wide OKRs, objectives and key results can be hugely beneficial to cascade strategic focus and align everyone on corporate values amidst distributed teams across different locations.
Below we have included some OKR examples that may be used within a hotel accommodation provider using our award-winning 1-3-5® OKR planning framework.
Vision: To be the number one mid-market hotel chain for business travellers in the UK, as measured by guest satisfaction and profitability.
Objective One: Increase gross operating profit per available room by 8%.
- Increase average daily rate (spend per occupied room, per night) by 10% through targeted marketing campaigns aimed at regular high-spending customers.
- Increase room occupancy rate by 5%.
- Increase the average length of stay per guest by 0.2 nights.
- Increase the number of guests who stay more than 15 nights per year by 10% with improved marketing of our loyalty programme.
- Increase revenue from ancillary services (food, beverages and events) by 20%.
Objective Two: Increase brand awareness outside of our current geographic footprint.
- Increase brand awareness as measured by surveys by 15% with a multi-channel media campaign.
- Increase cross-platform social media engagement by 25%.
- Increase website traffic by 25% with improved SEO and website optimisation.
- Generate 2,500 newsletter signups per month.
- Increase inbound links from relevant business travel and hotel booking websites by 5%.
Objective Three: Increase customer satisfaction
- Increase average guest satisfaction rating from 8.5/10 to 9.5/10.
- Increase the percentage of customers saying they would recommend a friend from 75% to 90%.
- Increase locations with automated check-in to 95%.
- Reduce customer complaints by 10%.
- Reduce average time to resolve complaints by 20%.
If you are leading a business operating within the leisure and hospitality industry, hopefully, this blog will have given you some ideas of the kind of OKRs you could set for your teams. If you want to find out more, check out our blog OKR examples to help you get started.
Finally, if you want to learn more about how to write compelling OKRs that cascade seamlessly throughout every level of your organisation, download our OKR Builder™ today! It includes a step-by-step guide to help you understand what OKRs should look like and how they translate across different departments in your business.