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 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

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 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. This strategy aids in forecasting demand and resource planning.

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

JULY 10, 2023

Take advantage of guests with long lead times It’s largely accepted that guests who book a long time in advance are booking for a longer than average stay, to ensure they don’t miss out. If you notice this happening a lot at your property, you can feel free to set 7+ minimum night stay.

Minimum Length of Stay 75

Minimum Length of Stay Occupancy Average Length of Stay Revenue 75