SiteMinder

OCTOBER 10, 2023

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.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

SiteMinder

JUNE 8, 2022

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?

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

STAAH

APRIL 16, 2024

An RMS that can sync seamlessly with various channels allows hoteliers to update room rates and availability across all platforms simultaneously, minimizing the risk of overbooking and ensuring maximum exposure to potential guests.

Revenue Management 81

Revenue Management Revenue Management Forecasting 81

SiteMinder

JUNE 12, 2024

Learn more Yield management vs revenue management The goal of yield management is not merely to increase room rates or occupancy; rather, it’s to maximise your hotel’s revenue by forecasting your room supply and demand across a variety of key factors. Informed Decision-Making : Yield management relies heavily on data analytics.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

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

DECEMBER 7, 2023

This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance. Table of contents Why does hotel rate management matter? If it’s a quiet time you can lower your rates to coax more guests in.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Cloudbeds

APRIL 30, 2024

Adjusting your room prices based on real-time forecasts and competitor data means you can seize every revenue opportunity, irrespective of whether you’re in a period of low or high demand. During peak seasons, higher prices can prevent overbooking, while lower prices during off-peak times can attract more guests.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52