Xotels

MAY 30, 2024

What drives more value to the business, ADR, average daily rate, or occupancy? Occupancy or ADR? So what is it, Occupancy or Average Room Rate (ARR)? In a formula it is expressed as follows: Occupancy x ADR = RevPAR In the end, it is not about occupancy or ADR, average daily rate, but about how much money is made by the hotel.

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Inn Quest

OCTOBER 17, 2023

That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels. However, when guests don’t cancel as expected, it can lead to overbooking. The question yet remains: is it the right thing to do?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

SiteMinder

MAY 16, 2023

Table of contents Introduction from SiteMinder: The bleisure market and hotel booking trends Following the pandemic, the bleisure market changed from a growing niche to a mainstream source of bookings for accommodation providers. The good news is that they don’t discriminate when it comes to choosing their accommodation.

Average Length of Stay 105

Average Length of Stay Occupancy Average Daily Rate Revenue 105

STAAH

JUNE 11, 2024

Finding the right balance between OTAs and direct bookings is a crucial strategy for hotels and accommodation providers for success. Participate in OTA promotions selectively, targeting periods of low occupancy or launching new offerings. Continuously monitor the performance of each OTA and adjust your strategy based on the results.

OTA 109

OTA Shopping Occupancy Overbooking 109

SiteMinder

DECEMBER 1, 2024

The following generic accommodation invoice template could be used by any type of accommodation business. Managing complex room invoicing scenarios Choose an invoicing tool that can handle situations like group stays, extended stays, cancellations, split payments and bundled services like packages or events.

Hotels 52

Hotels Revenue Accommodation Management 52

Hotelogix

OCTOBER 7, 2024

  Furthermore, the city's status as a key business hub in the region ensures a steady flow of business travelers, contributing to the consistent demand for hotel accommodations.

Cancellation 52

Cancellation Tourism Hotels Operations 52

SiteMinder

MAY 25, 2023

The bottom line is that hotels can lose millions of dollars in revenue due to abandonment, especially when you also consider that guests may book a room before delaying payment, and then cancelling altogether. Because booking a trip is such a complex multi-step process, it can take a lot of time to complete. 5 tips from The Hotels Network 6.

Revenue 98

Revenue Cancellation Hotels Accommodation 98

SiteMinder

SEPTEMBER 6, 2023

While they can be a wild card in the hotel management game, they offer a unique opportunity to maximise occupancy and revenue. Last-minute hotel room bookings have a range of benefits including: Maximised occupancy : Filling rooms at the eleventh hour ensures that you’re making the most of your available inventory.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

Hotelogix

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. The consequences can greatly impact the revenue streams, occupancy rates, and guest satisfaction. Skewed Occupancy Data Accurate occupancy data is important for hotels to make informed decisions.

Cancellation 52

Cancellation Overbooking Occupancy Hotels 52

Hotel Speak

SEPTEMBER 26, 2024

Certainly rates and occupancy grew very nicely in 2023, but we reached a plateau where we couldn’t really push rates any further,” Jon Siberry, Group Revenue Manager of Sarova Hotels explained. Any increase in revenue is going to come through occupancy, so 2024 has been a bit more of a push.

Market 104

Market Marketing Hotels Forecasting 104

STAAH

MAY 30, 2023

With the rise of online travel sales and the influence of e-commerce and review sites, accommodation providers must adapt to the evolving distribution landscape. 8) Online Travel Agents (OTAs): Working with multiple online travel agents (OTAs) is crucial for increasing digital distribution and overall occupancy.

OTA 98

OTA Hotels Revenue Travel 98

SiteMinder

NOVEMBER 15, 2022

Some hoteliers love using this strategy to boost their revenue and protect their property from losing out due to last-minute cancellations. Many hotels do this deliberately to offset last-minute cancellations or no-shows and avoid losing revenue and occupancy. Cancellations are part of doing business.

Overbooking 52

Overbooking Cancellation Occupancy Closing 52

Little Hotelier

AUGUST 29, 2023

Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancy rates. Unique B&B Signage Signage is your chance to advertise to passing guests who haven’t yet booked their accommodation for the night. Your occupancy rates? Your direct bookings?

ROI 98

ROI Hotels Average Length of Stay Revenue 98

SiteMinder

DECEMBER 4, 2023

Hotel industry statistics refer to data and metrics relating to hotels and other accommodations in the industry. Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Hotel occupancy will increase 2.5% The average cancellation rate is 20%.

Occupancy 59

Occupancy Hotels Revenue Cancellation 59

SiteMinder

SEPTEMBER 7, 2023

Reservation cancellation fees These are charged when guests cancel their bookings, especially if done at the last minute. Extra person fees For rooms exceeding the standard occupancy, an extra person fee is charged to cover the additional costs of amenities and services.

Revenue 105

Revenue Hotels Services Cancellation 105

eZee Absolute

SEPTEMBER 22, 2023

In this blog, we’ll break down the various hotel rate types, and how they can benefit your business and provide actionable strategies for you to maximize your revenue and occupancy. Non-Refundable Rates: Non-refundable rates are typically lower than standard rates but come with stricter cancellation policies. So, let’s dive in!

Revenue 52

Revenue Management Occupancy Revenue Management 52

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Even if occupancy rates do not rise, this can help hotels raise their profit margins. A Rise in Profitability: Effective pricing strategies can also boost a hotel’s profitability.

Revenue 88

Revenue Occupancy Hotels Marketing 88

Little Hotelier

MARCH 25, 2024

Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. Cancellation data: How types of guests and times of year affect cancellation and no-show rates. bad weather, surprise events or event cancellations).

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Cloudbeds

OCTOBER 17, 2024

By strategically analyzing revenue booked, occupancy rates, acquisition costs, and guest segments, hotels can build an advanced distribution strategy that delivers real value. These include: Occupancy rate – which channels contribute most to occupancy? RevPAR – which booking sites result in the highest RevPAR?

OTA 76

OTA Occupancy Hotels Revenue 76

STAAH

AUGUST 6, 2024

Enhanced Revenue Management : With features like dynamic rate management in their Channel Manager, GDS allows hoteliers to adjust rates based on demand, occupancy, and market conditions. GDS systems enable travel agents and companies to easily modify or cancel bookings, often with minimal penalties.

Global Distribution System 113

Global Distribution System Travel Business Services 113

Cloudbeds

APRIL 1, 2025

If a group cancellation suddenly opens multiple rooms, PMax immediately shifts budget allocation to target last-minute planners searching for accommodations. It uses real-time pricing information to showcase current rates while integrating demand forecasts , length-of-stay restrictions, and occupancy trends to optimize bidding.

52

52

SiteMinder

OCTOBER 15, 2023

For example, in the morning you may have lower rates because your occupancy is low and demand is not strong. Dynamic pricing can be an important strategy for a hotel that’s looking to optimise occupancy and maximise profit. This will allow them to capitalise on opportunities to boost occupancy and/or maximise revenue.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Little Hotelier

OCTOBER 11, 2023

This is exciting for your business because it presents an opportunity to push the limits of your occupancy and cash-in on increased revenue. Strategies to prepare for peak season in the hotel industry When peak season is just around the corner, it’s exciting – you’re looking forward to welcoming guests and having full occupancy.

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

Travelboom Marketing

MARCH 12, 2024

This company, along with others like VRBO , keeps hoteliers on their toes as they continue to compete for occupancy in both top destinations and less-traveled locations. Increase mid-week occupancy by offering a deep discount or convincing deal. So, how does airbnb compete with hotels?

Hotels 52

Hotels Cancellation Digital Marketing Accommodation 52

Q4Launch

FEBRUARY 3, 2022

Research Booking Pre-Arrival Arrival Occupancy Checkout / Departure Post-stay Research For us, this is called the “Dreaming” phase of the travel life cycle. For example, overly strict cancellation policies can deter some potential guests. Bolded ones are the most typical. Everything should be about the guest experience.

Marketing Strategy 52

Marketing Strategy Upsell Occupancy Hotels 52

Clock Software Hospitality

DECEMBER 8, 2020

Read more: Upselling as a Way of Improving Guest Loyalty Casting a wide net is one way to ensure full occupancy but it is hardly a profitable marketing approach in the long run. Tip: Six Tips on How to Increase Low Hotel Occupancy in the Off-Season Of course, this doesn’t need to be the case in order for you to make an offer.

Cancellation 52

Cancellation Hotels Services Occupancy 52

Amadeus Hospitality

JUNE 20, 2023

With continued demand for leisure travel and the reopening of China to tourism after several years, global hotel occupancy is on the upswing in 2023, with many markets surpassing pre-pandemic occupancy levels according to Amadeus Demand360 ® data.

Hospitality 52

Hospitality Travel Occupancy Revenue 52

Little Hotelier

JUNE 5, 2023

Airbnb Instant Book is a feature on the Airbnb platform that allows guests to book accommodations instantly without needing approval from the host. For some hosts, this feature is a game-changer for hosts that streamlines their booking process and increases their occupancy rates. Implement a rigorous cancellation policy.

Cancellation 52

Cancellation Management Business Revenue 52

SiteMinder

OCTOBER 15, 2023

They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. Travellers are now predominantly booking their accommodation online, making it more crucial for hotels to focus on capturing bookings via their own website, OTAs, metasearch, and other online channels.

Global Distribution System 59

Global Distribution System OTA Revenue Hotels 59

SiteMinder

NOVEMBER 30, 2023

Travel statistics refer to data and information related to various aspects of the travel industry, such as travel trends, traveller behaviour, tourism spending, accommodation metrics, and more. Artificial intelligence will become an accommodation recommendation tool for 68% of millennials.

Travel 52

Travel Accommodation Tourism Hotels 52

Hotelogix

NOVEMBER 13, 2023

It would help you sell more rooms and boost your occupancy. The answer to this question is quite simple – if you charge too high, you will lose customers to your local competition that offers reasonable rates for more or less the same type of accommodation and services. Ultimately, this leads to increased profitability.

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

Little Hotelier

FEBRUARY 5, 2024

Reporting and analytics The software includes robust reporting and analytics capabilities, allowing hoteliers to track key performance metrics, such as occupancy rates, revenue, and guest demographics. However, it lacks some important features that some accommodation providers would need to find elsewhere. Cancel anytime.

Management 59

Management Overbooking OTA Accommodation 59

Cloudbeds

JULY 15, 2023

The same happens with a cancellation. It then pushes ARI updates to that channel and, for two-way sync, it imports reservations/cancellations into your Channel Manager, PMS, and/or CRS dashboard. In the case of one-way sync, reservations or cancellations will not be imported.

Management 76

Management OTA Cancellation Overbooking 76

eZee Absolute

JANUARY 9, 2023

This financial stability often translates to a higher willingness to pay for quality accommodations and amenities. In addition to exploring a new segment, hosting digital nomads can also help accommodation providers diversify their investments, potentially increasing the overall revenue. How to Attract Digital Nomads To Your Property?

OTA 52

OTA Hotels Accommodation Travel 52

Xotels

APRIL 3, 2024

Key factors considered in market segmentation include length of stay , day-of-week stays, total revenue per room , total revenue per client, booking lead time, cancellation percentage, and no-show ratio. The graph considers cancellations and identifies peak or slow booking days.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

JULY 13, 2024

This then allows you to make informed decisions on what accommodation to promote to the right client, at the right time, with appropriate pricing through the most suitable distribution channel. Within a dynamic pricing strategy , prices should vary based on supply and demand to improve revenue and ensure maximum occupancy.

Revenue Management 98

Revenue Management Revenue Management OTA 98

Clock Software Hospitality

JANUARY 12, 2021

Travel and accommodation have always gone hand in hand, and in a global economy, it is impossible to imagine what life would be like without either. Locations in demand are mostly local hotel chains, which either afford a shuttle or accommodate their own parking space.

Hospitality 52

Hospitality Average Daily Rate Scale Events 52