SiteMinder

AUGUST 1, 2024

Hoteliers use rate shopping to benchmark against other properties, optimise pricing decisions, and find opportunities to maximise revenue and profitability. This blog will give you a full overview of hotel rate shopping and rate shopper tools, which you can use to boost revenue success at your business.

Shopping 78

Shopping Revenue Average Daily Rate Revenue Management 78

Hotelogix

DECEMBER 19, 2024

More Revenue: Discover fresh ways to boost your earnings. It applies historical data and machine learning algorithms to predict booking patterns, seasonal demand, and potential revenue opportunities. Revenue Management Figuring out room prices can be tough. Smoother Operations: Spot and fix problems in your work process.

Business 40

Business Hotels Forecasting Revenue 40

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.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Cloudbeds

FEBRUARY 26, 2024

Unplanned overbookings, front desks staffed 24/7, and marketing or finance degrees to optimize revenue will soon be a thing of the past. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR. So are siloed and disparate legacy systems.

Average Daily Rate 52

Average Daily Rate OTA Overbooking Travel 52

Cloudbeds

OCTOBER 9, 2024

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. Accurate forecasts enable hotels to implement dynamic pricing strategies, adjusting rates in real time based on predicted demand. What is forecasting?

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

Hotelier Magazine

JULY 9, 2024

By Nicole Di Tomasso According to Avison Young’s Canada Hotel Market Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as Average Daily Rate (ADR), Revenue Per Available Room (RevPAR) and occupancy. billion in 2022. “We

Average Daily Rate 52

Average Daily Rate Occupancy Pipeline Hotels 52

STAAH

JULY 8, 2024

Data-Driven Pricing Strategies Dynamic Pricing: Implement dynamic pricing strategies to adjust room rates based on demand, competitor rates, and market conditions. Use data analytics to forecast demand and set competitive prices that attract budget-conscious travelers without compromising revenue.

Digital Marketing 52

Digital Marketing Accommodation Market Marketing 52

Hotelogix

OCTOBER 14, 2023

Average Daily Rate or ADR The Average Daily Rate or ADR is a popular KPI for hotel industry. The ADR is the average rate at which each room at the hotel was sold on a given day. It is calculated by taking the Average room revenue and dividing it by the total number of rooms sold.

KPI 52

KPI Average Length of Stay Average Daily Rate Occupancy 52

Amadeus Hospitality

JUNE 27, 2023

Amadeus and Knowland have come together to build a new, first-of-its-kind Index to enable users to understand the relative position of key business drivers so they can make the best decisions to grow revenue and asset value.” Each factor is averaged to provide a final index score, ensuring a more accurate assessment of overall performance.

Business 52

Business Hospitality Events Average Daily Rate 52

MediaBoom

AUGUST 6, 2024

In fact, a strong brand can increase revenue by up to 23%. A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and market share. Less Spends on Advertising : Promotions are made much easier by niche marketing. A strong hotel brand is the cornerstone of enduring success.

Branding 92

Branding Hotels Services Marketing 92

Hotelier Magazine

APRIL 4, 2024

CBRE’s Canadian Hotel Industry Outlook Report (Q3 2023) projects strong and stable occupancy and Revenue Per Available Room (RevPAR) growth for the Canadian hotel industry through to 2027. We need to see the potential to enhance revenue and guest satisfaction prior to investing,” says Prigmore. “A We’re listening to hotel comments.

Operations 40

Operations Real Estate Average Daily Rate Occupancy 40

Catala Consulting

AUGUST 30, 2022

A few metrics to include in your SWOT analysis include: Average daily rate Sales circle length Event Activity Web traffic percentage of direct bookings Percentage of occupancy Revenue per available room Customer feedback, comments on social media, online reviews, and feedback.

Hotels 52

Hotels Average Daily Rate Business Revenue 52

Cloudbeds

SEPTEMBER 18, 2024

From understanding top-performing channels to finding new revenue opportunities to enhance the guest experience, data analytics touches every department. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Revenue management KPIs.

Operations 40

Operations Revenue Management Occupancy Revenue 40