This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024. For 2024, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine.
hotel forecast of 2025 released at the Americas Lodging Investment Summit (ALIS). For 2025, projected gains in averagedailyrate (ADR) and revenue per available room (RevPAR) were unchanged from the previous forecast, +1.6 Hotel Forecast of 2025 appeared first on LODGING Magazine. percent and +1.8
HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for averagedailyrate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. Recent RevPAR trends demonstrate that rate continues to be the primary driver of performance.
HENDERSONVILLE, Tennessee—Las Vegas hotel averagedailyrate (ADR) is forecasted to reach $573 for Feb. The market is projected for a Friday through Sunday night occupancy of 87.9 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.
Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for Feb. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and averagedailyrate (ADR) of $445. Even with 11.7% Even with 11.7%
Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high averagedailyrates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience. Thailand’s well-established and diversified hospitality market also looks attractive.
Averagedailyrate (ADR) remains an important metric to talk about within the hotel industry. ADR, which stands for averagedailyrate, is the average income per occupied room your hotel makes in a set period of time. Table of contents. What is hotel ADR? Why is ADR important in the hotel industry?
“Investors have consistently shown an appetite to play larger in the hotel sector in Asia Pacific and we see no signs that activity will wane in the last quarter of 2024, making us increase our investment volume forecast to $12.2 In the first nine months of 2024, Japan further established itself as the most attractive hotel market regionally.
Las Vegas achieved the highest Super Bowl weekend averagedailyrate (ADR) and revenue per available room (RevPAR). However, the market's levels surpassed the forecast, easily overtaking the previous records held by Miami (2020).
TORONTO Canadas hotel investment market saw significant growth in 2024, with total transaction volume reaching $2 billion, a 16 per cent year-over-year increase, according to Colliers INNvestment Canada Hotel Report Q4 2024. Growth was largely driven by higher AverageDailyRates (ADR), which outpaced inflation.
Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. What is Hotel Forecasting?
Look for a solution that utilizes sophisticated algorithms to analyze market demand, competitor pricing, booking patterns , and other relevant factors in real-time. This enables hoteliers to adjust room rates dynamically to maximize revenue based on current market conditions.
One of the main challenges for hotels is creating accurate forecasts in the short, medium, and long term. Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. But traditional forecasting models no longer cut it.
Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. For hotel managers and the industry as a whole, accurate forecasting is not just beneficial—it’s essential for maintaining competitiveness and profitability in a dynamic market.
According to the latest forecast by CoStar Group and Tourism Economics, U.S. The forecast also predicts a 1.6-per-cent per-cent growth in the AverageDailyRate, with an occupancy level of 63.1 The forecast suggests that the luxury RevPAR is expected to grow by 2.9 HENDERSONVILLE, Tenn. per cent in 2025.
What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business.
As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Why should your hotel use forecasting? How can you forecast effectively at your hotel?
hotel forecast presented at the recent 15th annual Hotel Data Conference. While that RevPAR growth remains above the long-term historical average, most of the increase was frontloaded to the early portion of the year. AverageDailyRate (ADR) was upgraded 0.1 PARSIPPANY, N.J. — per cent, due to a 0.6-
Just four months after its initial soft-opening, SO/ Maldives reached an occupancy of almost 60% in February, and expected averagedailyrates (ADR) in the region of US$750-$850 for 2024. Overall, the Maldives accounted for 27% of S Hotels and Resorts’ worldwide revenue in 2023 – its second-largest market after the UK.
Adam Harris, Co-Founder and CEO of Cloudbeds , said: “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.
Canadas hotel industry reported positive performance year-over-year, driven by growth in room rates, according to January data from CoStar. per cent) AverageDailyRate (ADR): $180.04 (up 2.7 Among the major markets, Vancouver saw the highest occupancy (60.7 January 2025 (percentage change from 2024) Occupancy: 49.8
Other deductible expenses: Utility bills, marketing and advertising receipts, maintenance and repair costs, insurance policy documents. Financial planning and forecasting The key to financial planning and forecasting? Financial planning and forecasting The key to financial planning and forecasting?
On top of this is the incentive of meetings and events being booked at your hotel, since this is a large part of the corporate travel market, and becoming a preferred hotel for this type of business will lead to financial stability. Fees can be variable and also include an annual fee and booking fee.
Revenue management revolves around measurement of what customers from different audience segments are willing to pay, as well as the ever-changing supply and demand within each market. The right distribution channels can have strong marketing power, putting your hotel in front of many customers you aren’t able to contact directly.
Canada’s hotel industry reported its highest AverageDailyRate (ADR) and Revenue Per Available Room (RevPAR) for any month on record, according to CoStar’s July 2023 data. Among the major markets, Vancouver saw the highest occupancy (87 per cent), which was 2.4 HENDERSONVILLE, Tenn. per cent to 75.6 per cent to $232.13.
WASHINGTON — Canadian hotels witnessed a significant landmark in October 2024, as the AverageDailyRate (ADR) surpassed $200 for the first time ever, according to data from CoStar. October’s occupancy rate was 68.5 Toronto topped the major markets with an occupancy rate of 79.6 per cent, marking a 0.8-per-cent
Picture a system that displays your hotel's current status and forecasts its future. Why Hotel Business Intelligence Matters In today's tough market, you can't just guess. Predictive Analytics Advanced hotel business intelligence software also has the ability to forecast future trends.
By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. It’s a testament to how industries adapt, grow, and refine their strategies in response to changing market dynamics and customer expectations.
The hospitality industry faces seasonal challenges and fluctuating market conditions, including reduced consumer spending and increased competition. Accommodation providers can navigate these by leveraging online bookings and digital marketing strategies. A seamless booking experience can significantly reduce abandonment rates.
WASHINGTON — Canada’s hotel AverageDailyRate (ADR) and Revenue Per Available Room (RevPAR) were the highest for any year on record, according to CoStar’s 2023 data. For 2024, occupancy is forecasted to contract 1.4 Among the major markets, Vancouver saw the highest occupancy (78.5 per cent (up 7.7 per cent (up 7.7
Bangkok, Thailand – It was a lucrative Songkran festival for Thai hotels as the average cost of a hotel room surged by 33% during the festival period in April. Between April 11-18, the averagedailyrate in Thailand increased to THB 5,421 (US$148), from THB 4,087 (US$120) in the corresponding period last year.
per cent); AverageDailyRate (ADR) came in at $197.10 (up 15 per cent) and Revenue Per Available Room (RevPAR) came in at $136.32 (up 25.7 Among the major markets, Vancouver reported the highest occupancy (83 per cent), which was 8.5 At the market level, the lowest occupancy was reported in Edmonton (60.9
While occupancy remains impressive, it’s ADR (AverageDailyRate) that’s driving the real growth story here. STR forecasting also shows steady occupancy growth (+1-2% annually) and ADR growth (+3-4) for 2025 and 2026, indicating a positive outlook for our industry. See also: The State of Hospitality 2024 (Free Report) 3.
per cent) AverageDailyRate (ADR): CAD$206.39 (up 4.5 per cent) “Improvement in Canada’s hotel room rates drove a RevPAR lift in May,” says Laura Baxter, CoStar Group’s director of Hospitality Analytics for Canada. Among the major markets, Vancouver saw the highest occupancy (83.8 per cent), which was 3.3-per-cent
The averagerate index (ARI) is a metric that allows hoteliers to evaluate the performance of their room rates relative to a group of competitors during a specific period. The other two indicators are MPI (market penetration index) and RGI (revenue generated index). How is ARI calculated?
It’s often said that the internet is the great equalizer, but the reality is that online travel is dominated by players with huge marketing budgets, like OTAs and big hotel brands. 11 hotel eCommerce strategies How can lodging businesses take advantage of the growing online travel market and attract more bookings?
When done effectively, personalization can help hotels earn more bookings, higher averagedailyrates (ADR) , and better online reviews. And it all starts with hotel market segmentation. What is hotel market segmentation? ” Why do you need market segmentation?
What is hotel rate shopping? Hotel rate shopping is the practice of tracking and monitoring hotel rates amongst your local market and competitors. It also involves tracking your own rates across your connected distribution channels. Table of contents Why is hotel competitor rate shopping useful?
Financial analysis When EBITDAR is combined with other metrics, such as ADR (averagedailyrate), occupancy rate, or RevPAR (revenue per available room) , it can help dig deeper into financial metrics. Improve marketing and distribution Optimize distribution channels to reduce sales commissions.
An RMS is a comprehensive software solution designed to analyze various data points, including historical booking patterns, market demand, competitor pricing, and other factors that influence revenue generation for your hotel. Revenue Forecast Report Looking ahead is crucial for any successful revenue management strategy.
It depends on the market. They realize that the earlier they book the lower the rates are going to be. If group business has a lower averagedailyrate (ADR) than transient, which it always does, do you put the group on the books in advance and sell the remaining rooms to transient at a higher rate?
Harnessing hotel data is essential for navigating the modern hospitality landscape, enhancing operational efficiency, and tailoring marketing efforts to meet guest preferences better. Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.
Pricing intelligence relies on data such as market trends, real-time insights, local competitor rates, and customer behaviour patterns. Pricing intelligence tools are important to use if you want your hotel to remain competitive and profitable in a modern travel market.
It could be that you’re buying a hotel business or investing in one you already own through things like property extensions and renovations, hotel marketing, employee training and hotel software. Income: Forecasted and other expected revenue. Hotel investments come in many shapes and sizes. rent): No connection with business activity.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content