Cloudbeds

NOVEMBER 15, 2024

Consider booking patterns, cancellation rates, average length of stay, guest preferences for room amenities or dietary restrictions, website and app metrics, competitor rates, and market trends—the list goes on. This on-demand access helps staff gain practical knowledge faster.

Upsell 105

Upsell Occupancy Revenue Management Revenue 105

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Hotel forecasting reports are built on a foundation of data. Small, independent hotels might form quite basic forecasts.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

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

Little Hotelier

AUGUST 29, 2023

Income: Forecasted and other expected revenue. When planning your budget, your report should include: Fixed costs (eg. rent): No connection with business activity. Variable costs (eg. wages): Changes according to business activity. Actual costs: The difference between budgeted figures and actual numbers.

ROI 98

ROI Hotels Average Length of Stay Revenue 98

Little Hotelier

NOVEMBER 6, 2023

Adjust pricing Forecast demand and adjust your room rates well ahead of time. 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.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

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. The average booking lead time for hotels is 29.7

Occupancy 59

Occupancy Hotels Revenue Cancellation 59

SiteMinder

NOVEMBER 30, 2023

Hoteliers can use statistics to understand their guests better, forecast demand, create offers based on current trends, and optimise their pricing and revenue strategies. 67% of families say that they now check cancellation policies when making travel arrangements and 47% say they now buy travel insurance.

Travel 52

Travel Accommodation Tourism Hotels 52