Hotelogix

NOVEMBER 19, 2023

As a hotelier, boosting the occupancy rate is critical to running a successful business. In a highly competitive industry, you must attract and retain guests to increase your property's occupancy rate and revenue. This article will explore various ways to improve hotel occupancy rates and the role of technology in it. 

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Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

STAAH

APRIL 16, 2024

In the ever-evolving hospitality industry, staying competitive demands more than just offering great accommodations and service. An RMS should provide detailed insights into key performance metrics such as Room Revenue Per Available Room (RevPAR), Average Daily Rate (ADR), occupancy rates, booking pace, and revenue forecasts.

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Revenue Management Revenue Management Forecasting 85

STAAH

JULY 8, 2024

Accommodation providers can navigate these by leveraging online bookings and digital marketing strategies. Here’s a comprehensive guide to help accommodation providers optimize their efforts and maintain steady occupancy rates during economic downturns.

Digital Marketing 52

Digital Marketing Accommodation Market Marketing 52

SiteMinder

JULY 11, 2024

“Partnering with SiteMinder marks a significant milestone for Globales, especially as we prepare for what our forecasts indicate will be a strong period of travel,” says Federico Crudo, Director of Commercial and Marketing at Globales. “We

Revenue 105

Revenue Branding Forecasting Revenue Management 105

Inn Quest

AUGUST 8, 2023

Offering competitive rates during off-peak seasons allows hotels to remain active in the market and attract guests even when other competitors might be struggling to maintain occupancy. By accurately forecasting demand patterns, hoteliers can allocate the right number of rooms to each price tier.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

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. This risky strategy aims to ensure full occupancy, but it can backfire. The question yet remains: is it the right thing to do?

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Overbooking Cancellation Forecasting Occupancy 88

STAAH

APRIL 23, 2024

Interactive dashboards and visual representations make it easier for revenue managers to make data-driven decisions, identifying revenue trends, tracking performance metrics, and accurately forecasting future demand. The availability of mobile and cloud-based options has made revenue management more convenient and accessible for businesses.

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STAAH

JUNE 4, 2024

It serves as a virtual storefront, enabling visitors to browse available accommodations, check prices, and complete bookings without third-party involvement. A hotel booking engine is a software application integrated into a hotel’s website, allowing guests to reserve rooms directly.

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Revenue Hotels Occupancy Management 96

Hotel Business

FEBRUARY 28, 2023

As forecasted , Phoenix’s hotel industry ranked second all-time among Super Bowl host markets in ADR and RevPAR during the weekend of the big game, according to STR. While the market’s rankings were as forecasted, the values that produced that status were different than projected.

Occupancy 52

Occupancy Forecasting Market Marketing 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 83

Market Marketing Hotels Forecasting 83

Little Hotelier

JULY 10, 2023

It can help you maximise your revenue and control your occupancy, but it’s a delicate balance that relies on managing supply and demand. Hotels and other accommodation providers actively use MLOS policies to take advantage of periods of high demand, especially if they are coming out of a low period. Why do hotels use MLOS?

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Minimum Length of Stay Occupancy Average Length of Stay Revenue 75

eZee Absolute

DECEMBER 7, 2023

This myth has gained momentum because RM services are being adopted majorly by high-end accommodation providers. Myth #5: Budgeting and demand forecasting aren’t important in revenue management When it comes to hotel revenue management, budgeting and demand forecasting play a crucial role. 100% occupancy rate and better revenue.

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Revenue Management Revenue Management Overbooking 98

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. Forecasting Forecasting involves predicting future demand for rooms. We’ll talk more about forecasting and analysis later.

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Revenue Management Revenue Management OTA 98

SiteMinder

AUGUST 11, 2024

Thanks to these solutions, today’s revenue manager can produce forecasts, distribute inventory and adjust rates with speed – a stark contrast to the manual and long drawn-out processes that defined the practice in the past. A richer data set will allow for a clearer picture of market conditions and improved forecasting.

Revenue Management 84

Revenue Management Revenue Management Forecasting 84

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. Income: Forecasted and other expected revenue.

ROI 98

ROI Average Length of Stay Hotels Revenue 98

SiteMinder

APRIL 18, 2024

London, UK : The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, shows data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. year-on-year.

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Average Daily Rate Revenue Management Accommodation Revenue 59

Xotels

APRIL 3, 2024

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

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Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

AUGUST 1, 2024

Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Pricing strategy: How you will set competitive room rates and consider implementing revenue management strategies to maximise occupancy and revenue. based on your projected occupancy and service levels.

Business 95

Business Revenue Hotels Occupancy 95

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

JANUARY 5, 2025

Located in Sukapura Village, Probolinggo, East Java, this charming accommodation is a convenient stop for travellers heading to Mount Bromo via the Tongas-Probolinggo route. For instance, bookings for February through August are already accounted for, giving us a clear picture of future occupancy, he added.

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Operations OTA Occupancy Forecasting 52

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% Average US occupancy rate is just under 65%.

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

SiteMinder

JUNE 2, 2024

Local properties are now better positioned to forecast occupancy and dynamically optimise their revenue management strategies as more travellers plan their stays around UEFA Euro 2024 and other major events.”

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Average Daily Rate Revenue Forecasting Revenue Management 59

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

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 Market 88

Hotelogix

JUNE 10, 2024

  Dynamic pricing in the hotel industry refers to tweaking room rates based on various factors such as demand, occupancy, seasonality, events, and even competitor pricing. increase occupancy, maximize revenue during peak times, etc.). Forecasting : The software should offer accurate demand forecasting and trend analysis.

Revenue 52

Revenue Occupancy Revenue Management ROI 52

Inn Quest

SEPTEMBER 5, 2023

Additionally, accurate inventory data enables better forecasting, allowing hotels to plan purchases and staffing more effectively. Invest in a Revenue Management System (RMS): RMS software uses data analysis and algorithms to optimize room pricing based on demand, occupancy, market conditions, and competitor rates.

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Management Overbooking Revenue Hotels 87

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. This diversity ensures that your hotel remains an attractive option for various guest segments , ultimately leading to increased occupancy.

Revenue 52

Revenue Management Occupancy Revenue Management 52

Cloudbeds

MARCH 23, 2023

In the hotel industry, eCommerce refers to the buying and selling of accommodation and related services over the internet. The Cloudbeds Hospitality Platform provides all these tools and more in one centralized system, allowing accommodation operators to manage guest profiles, reservations, payments, and other tasks on an integrated platform.

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OTA Digital Marketing Market Marketing 98

Little Hotelier

MARCH 10, 2024

The software supports various functions, including reservation management, rate setting, and sales forecasting, facilitating a more organised and strategic approach to selling rooms and services. The system integrates various data points to provide actionable insights, aiming to balance occupancy and revenue.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Hotelogix

OCTOBER 11, 2024

The app offers a wide range of hotel options (budget-friendly to luxury accommodations), which makes it the most trusted choice for travelers of all types. Hotels that work with Hopper can tap into a younger audience, especially those who prefer using apps and make decisions based on price forecasts. How does Hopper work for hotels ? 

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Occupancy Hotels Travel Management 52

Social Tables

DECEMBER 27, 2018

Meanwhile, late in 2018, CBRE forecasted that hotel supply would peak at 2% gain, stabilizing to 1.9 Respondents to the AMEX Meetings & Events Forecast predict that rise will equal about 2.41% in North America, while CWT expects an even higher hike of 3.7%. percent over the next two years. Click To Tweet. Key Takeaway for Venues.

Events 167

Events Business Scale Consumer 167

Catala Consulting

MAY 17, 2024

Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

SiteMinder

OCTOBER 10, 2022

Falling short of your competitors when it comes to guest experience, accommodation standards or your marketing and advertising strategy can quickly lead to lost revenue. For example, STR data reveals that the average occupancy rate across US hotels in August 2022 was 66.5%, and the average daily rate was US$151.49. STAR summary.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Hotel Business

OCTOBER 27, 2023

The underlying dynamics observed in previous quarters remained constant, with ADR still high and a marked improvement in the occupancy rate, which slightly lags the level of 2019. For full-year 2023, the group is confirming its forecast of net unit growth in the network between 2% and 3%. million) in Q3 2023, up 11% LFL year-on-year.

Revenue 72

Revenue Occupancy Services Management 72

Boutique Hotel News

MAY 4, 2023

The British economy is forecast to see a boost of £8.01 A further £85 million is forecast to come from travel into London alone, as 2.3 per cent improvement in occupancy. Occupancy, average daily rates and RevPAR are all up, but so are the number of properties on offer. billion more than a typical May Bank Holiday [£4.8

Tourism 52

Tourism Consumer Average Daily Rate Occupancy 52

SiteMinder

DECEMBER 1, 2024

The following generic accommodation invoice template could be used by any type of accommodation business. The resulting insights can help you to track your occupancy, refine your pricing strategies, forecast revenue and identify service gaps and opportunities. Here are the fundamentals.

Hotels 52

Hotels Revenue Accommodation Management 52

Hotelogix

JUNE 28, 2024

Hotels must implement cancellation policies to assure operational efficiency while accommodating guest needs.   Why Should Hotels Have Clear Cancellation Policies?   Protects revenue:  It defines terms for generating refunds, mitigating revenue loss from cancellations, and enabling accurate revenue forecasting.

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Cancellation Revenue Hotels Accommodation 52