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SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the averagedaily hotel room rate.
You’ll discover: The top 12 booking channels for driving revenue Insights, advice and tips from industry experts Key trends on both a global level, and country-by-country An eye-opening analysis of how different markets compare to the global average for Average Booking Lead Time, Cancellationrates, AverageLength of Stay, and AverageDailyRate (..)
Additional data from SiteMinder’s Hotel Booking Trends indicated that the averagelength of stay is also on the rise, with 2022 recording longer stays than previous years. This was particularly true for Spain in summer, which had the longest averagestaylength in August.
SiteMinder’s new Hotel Booking Trends report, the only hotel commerce data analysis of more than 35,000 hotels and 450+ connected booking integrations, has revealed travellers booked their trips on average eight days earlier, and cancelled their bookings 17% less year-on-year in 2022, despite a 24% increase in the averagedaily hotel room rate.
For example, Little Hotelier lets you generate reports for: Average occupancy rateAveragelength of stayAverage lead time Average revenue per booking Revenue per available room Averagedailyrate Dollar value of cancelled reservations You can also get a detailed report of your revenue, check-ins, extras, and payments for any date range.
Manage no-shows and cancellations No-shows and late cancellations can be damaging to your revenue optimisation efforts, so you need to craft a fair policy, ensure all guests understand it, then enforce it to the letter. Offer guests a discount if they refer friends and family to your hotel.
Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellationrates, booking channel statistics and more. Hotel averagedailyrate (ADR) is projected to grow by 4.9% RevPar is also expected to grow, reaching an average of $93. The averagelength of stay is 1.93
Inventory Control : Managing the number of rooms available for different rates, packages, or booking channels. This can involve overbooking strategies to account for last-minute cancellations or no-shows. This helps in tailoring specific offers or rates to different guest segments. This strategy aims to ensure maximum occupancy.
When done effectively, personalization can help hotels earn more bookings, higher averagedailyrates (ADR) , and better online reviews. Analyze booking data for each segment to look for patterns such as: City of origin Booking channels Lead times Stay patterns (E.g., Personalization comes from knowing your guests.
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