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? Your occupancy rate.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

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

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

JUNE 12, 2024

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. Revenue management is the focal point for hotels in today’s climate.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

SiteMinder

APRIL 18, 2024

As travellers book further in advance, hoteliers are in a stronger position to forecast occupancy and optimise their revenue management, allowing them to fully leverage events like the London Marathon,” concludes Bishop. He adds: “Alarmingly, the average daily rate at London hotels has decreased slightly by 6.5%

Average Daily Rate 59

Average Daily Rate Revenue Management Accommodation Revenue 59

SiteMinder

JUNE 2, 2024

With the surge of arrivals of international fans, the average daily rate for stays during the UEFA Euro season has grown by 11% throughout Germany to €214 – compared to €192 in the previous year. Despite the rise in costs, the eagerness of travellers to plan their trips highlights a critical revenue opportunity for hotels.

Average Daily Rate 59

Average Daily Rate Revenue Forecasting Hotels 59

SiteMinder

AUGUST 1, 2024

Identify pricing gaps: You’ll be able to spot chances to increase rates without losing market share. Avoid rate wars: By monitoring competitor pricing, you can prevent unnecessary and accidental destructive price competitions.

Shopping 78

Shopping Revenue Average Daily Rate Revenue Management 78

Hotelogix

APRIL 22, 2024

  Strategic revenue management with hotel data Effective revenue management is critical to your hotel's profitability. You can unlock a wealth of untapped revenue by analyzing data to forecast demand and adjust pricing accordingly.

Management 52

Management Average Daily Rate Revenue Management Hotels 52

SiteMinder

OCTOBER 16, 2023

Pricing intelligence, also known as rate intelligence, is a way for hotels to optimise their pricing and profitability. It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools. Real-time market data is crucial to be able to forecast demand.

Forecasting 59

Forecasting Revenue Management Revenue Hotels 59

Cloudbeds

JULY 4, 2024

The average rate 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. Tools such as revenue management software (RMS) now provide access to real-time information on market trends, local events, and competitor pricing.

Market Penetration 72

Market Penetration Management Market Share Occupancy 72

Hotel Speak

JULY 19, 2024

Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a risk management question. And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? How much are you willing to risk? What’s on the books?

Revenue 62

Revenue Management Revenue Management Average Daily Rate 62

SiteMinder

SEPTEMBER 10, 2023

This should include room occupancy rates, average daily rates (ADR), revenue per available room (RevPAR), and customer acquisition costs. Revenue forecasting Create a detailed revenue forecast that includes a month-by-month and quarter-by-quarter breakdown.

Revenue 59

Revenue Revenue Management Hotels Average Daily Rate 59

Cloudbeds

MAY 31, 2023

By monitoring market pricing intelligence, hotels can stay apprised of opportunities to flex pricing power, increase ADR (average daily rate), and lower pricing to increase occupancy. Rate shopping helps answer the eternal question in hotel revenue management, “How much should we charge for our rooms?”

Shopping 52

Shopping Revenue Management Average Daily Rate Revenue 52

SiteMinder

OCTOBER 9, 2023

These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and average daily rate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. It offers insights into room demand and helps in forecasting.

Average Daily Rate 59

Average Daily Rate Average Length of Stay Occupancy Revenue 59

SiteMinder

DECEMBER 17, 2024

Learn more Amadeus GDS meaning for hotel distribution and revenue management By utilising Amadeus GDS and other GDS partnerships, your hotel can enjoy a significant boost to both bookings and profit.

Global Distribution System 52

Global Distribution System Average Daily Rate Revenue Travel 52

Cloudbeds

AUGUST 8, 2024

Whether you’re a revenue manager, accountant, front office manager, or hotel owner, you need real-time data and visualizations to understand what’s happening at any given time. With business intelligence, you have the knowledge to drive hotel operations, increase your revenue, and enhance your guest experience.

Business 40

Business Revenue Management Forecasting Revenue 40

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. And no, it’s not a “Back to the Future” movie scene.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

Cloudbeds

MARCH 23, 2023

Why eCommerce is important for lodging operators According to Statista , 69% of total revenue from the global travel and tourism market is booked online, representing approximately $475 billion in revenue in 2022 and forecasted to surpass $521 billion in 2023.

OTA 98

OTA Digital Marketing Marketing Market 98

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Here are six revenue optimisation strategies that any independent hotelier can try.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. But it’s not solely about revenue. Why is hotel price optimization an essential pillar of revenue management?

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Cloudbeds

JUNE 5, 2024

There used to be a time when hotel revenue managers simply had to look at predicted demand and keep an eye on competitors’ rates to optimize pricing. For revenue managers, that meant adding a new strategy (and a new skill) to their decision-making: reputation pricing. Demand-based pricing. Profit pricing.

Revenue Management 52

Revenue Management Revenue Occupancy Average Daily Rate 52

SiteMinder

OCTOBER 10, 2022

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. Average daily rate (ADR). ADR = Total room revenue/total rooms sold. The three core KPIs to be aware of are: 1.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Cloudbeds

SEPTEMBER 18, 2024

This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Guest loyalty can be measured using metrics like stay frequency, average guest spend, and customer lifetime value (CLV). Revenue management KPIs. What are the 4 types of data analytics?

Operations 40

Operations Revenue Management Occupancy Revenue 40

Cloudbeds

OCTOBER 11, 2024

Revenue management system. Although it doesn’t capture financial transactions directly, it provides key metrics like revenue per available room (RevPAR), Average Daily Rate (ADR), and rate trend forecasts. M3 M3 is an accounting solution natively built for hotels.

Forecasting 52

Forecasting Revenue Hotels Average Daily Rate 52

Cloudbeds

MARCH 20, 2023

When done effectively, personalization can help hotels earn more bookings, higher average daily rates (ADR) , and better online reviews. It is a fundamental process of revenue management, but also brings benefits to marketing, operations, and the guest experience. Boost revenue and profitability.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. Hotel occupancy will increase 2.5%

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

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

Hotelogix

DECEMBER 19, 2024

Picture a system that displays your hotel's current status and forecasts its future. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. Predictive Analytics Advanced hotel business intelligence software also has the ability to forecast future trends.

Business 40

Business Hotels Forecasting Revenue 40

Cloudbeds

JANUARY 22, 2025

Financial analysis When EBITDAR is combined with other metrics, such as ADR (average daily rate), occupancy rate, or RevPAR (revenue per available room) , it can help dig deeper into financial metrics. Here are some tips to do that: 1.

Revenue 40

Revenue Hotels Operations Average Daily Rate 40

SiteMinder

OCTOBER 10, 2023

In addition, you are able to sell more rooms through the channel management system. Beyond that, real-time data offers you insight into important metrics that allow you to forecast and plan better for each coming season at your hotel. Learn more How do you collect hotel data?

Hotels 52

Hotels Management Upsell Travel 52

Hotelogix

JANUARY 29, 2025

Revenue Management Systems (RMS) Dynamic pricing strategies Demand forecasting : Use data to predict busy periods. Competitor rate monitoring : Change rates based on the market. Water conservation tech : This includes clever shower systems and ways to spot leaks. It's like having a crystal ball for your hotel!

Management 45

Management Hospitality Hotels Services 45