Hotel Business

FEBRUARY 22, 2023

In 2022, analysis from SiteMinder’s Hotel Booking Trends showed: Travelers globally booked hotel stays considerably further in advance than in 2021, with hotels seeing a 38% increase in average booking lead time, year-on-year. Stays booked to Spain in August were the longest globally, at 2.65

Travel 102

Travel Average Length of Stay Average Daily Rate Global Distribution System 102

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. For example, you might set out to achieve a revenue lift of 10% year-on-year.

Average Daily Rate 59

Average Daily Rate Average Length of Stay Occupancy Revenue 59

Cloudbeds

NOVEMBER 15, 2024

If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenue managers to adjust room rates dynamically to maximize revenue. Why it’s important for hotels? Traditional analysis, however, has limitations, as it tends to correlate single factors in isolation.

Upsell 52

Upsell Occupancy Revenue Management Revenue 52

Little Hotelier

MARCH 25, 2024

Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. Price and promote your property better with Little Hotelier Little Hotelier's Insights tool gives you more control, more support and more revenue. Adjust your goals as new information comes to light.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Hotelier Magazine

MARCH 11, 2024

Not far behind is room-rate data, which is critical for revenue management as pricing strategies, demand fluctuations and competitor pricing allows hotels to optimize their pricing structures and maximizing revenue. Your average booking and your average length of stay are all things that can be aggregated well.

Business 59

Business Average Length of Stay Hospitality Management 59

SiteMinder

MAY 16, 2023

Additional data from SiteMinder’s Hotel Booking Trends indicated that the average length of stay is also on the rise, with 2022 recording longer stays than previous years. This was particularly true for Spain in summer, which had the longest average stay length in August.

Average Length of Stay 105

Average Length of Stay Occupancy Average Daily Rate Revenue 105

Hotelogix

OCTOBER 14, 2023

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. This, however, does not include rooms that are occupied by staff, under maintenance of the ones that are.

KPI 52

KPI Average Length of Stay Average Daily Rate Occupancy 52

Little Hotelier

AUGUST 29, 2023

Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancy rates. Income: Forecasted and other expected revenue. Make sure your all-in-one reservation system can track the revenue-related metrics that matter. rent): No connection with business activity.

ROI 98

ROI Average Length of Stay Hotels Revenue 98

TravelNet

DECEMBER 12, 2023

Occupancy, ADR, and RevPAR are all down compared to 2021 and 2022 (but higher than 2019); booking windows and average length of stay are down, and; shoulder season performance is slightly up. KeyData’s October 2023 overview of industry trends reveals a few potentially worrisome trends as we head into 2024.

Average Length of Stay 52

Average Length of Stay Occupancy Retail OTA 52

SiteMinder

JUNE 12, 2024

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. Over time, these roles matured and transformed, giving birth to the modern-day revenue or reservations managers.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Little Hotelier

JULY 10, 2023

For example, if you set a minimum stay of two nights, no guest will be able to book a stay shorter than that. Minimum length of stay (MLOS or MinLOS) restrictions can be used across all your rooms or a select few that you choose. Here are six of the best ways to optimise your occupancy and revenue with MLOS.

Minimum Length of Stay 75

Minimum Length of Stay Occupancy Average Length of Stay Revenue 75

SiteMinder

FEBRUARY 13, 2023

In 2022, analysis from SiteMinder’s Hotel Booking Trends showed: Travellers globally booked hotel stays considerably further in advance than in 2021, with hotels seeing a 38% increase in average booking lead time, year-on-year. Stays booked to Spain in August were the longest globally, at 2.65

Average Length of Stay 52

Average Length of Stay Travel Average Daily Rate Cancellation 52

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Hotel average daily rate (ADR) is projected to grow by 4.9% RevPar is also expected to grow, reaching an average of $93. The average booking lead time for hotels is 29.7 million people.

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

Cloudbeds

APRIL 8, 2024

It can be customized to fit your brand, cater to international audiences with multi-language and currency options, and offer add-ons or upsells to help you increase revenue. Increase revenue and profitability An integrated booking engine is a game-changer for increasing revenue and overall profitability. Multiple rate plans.

OTA 98

OTA Upsell Average Length of Stay Revenue 98

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

Hotel Business

SEPTEMBER 14, 2023

Dynamic upsell: Hotels can engage guests in advance of their stay, offering enhancements like early check-in, late checkout and room upgrades. In doing so, hotel owners can now easily unlock new opportunities to boost revenue and their bottom line.

Average Length of Stay 64

Average Length of Stay OTA Services Revenue 64

Hotel Business

JANUARY 24, 2023

As amenities reopen, group and FIT business travel return, and hotel revenues shift toward lower-margin F&B, spa, etc., One adjunct to this and one of the major industry changes over the past two years is average length of stay, which from 2015 through 2019 was consistently about 1.9

Average Length of Stay 69

Average Length of Stay Occupancy Real Estate Travel 69

SiteMinder

JUNE 2, 2022

Hotel revenue. Revenue is what keeps your hotel open so having a goal aligned with your income is obviously important. For example, you might set out to achieve a revenue lift of 10% year-on-year. There are many metrics that support revenue KPIs. Calculate it by dividing your total revenue by occupied rooms.

KPI 52

KPI Revenue Occupancy Hotels 52

TravelNet

NOVEMBER 9, 2022

HomeToGo directly integrates with Track allowing property managers to diversify their revenue streams and reach millions of new, high-quality guests. How have your customers increased revenue or decreased cost with your integration with Track? Functionality Explain the unique benefits of HomeToGo for Track Customers.

Cancellation 52

Cancellation Average Length of Stay Management Revenue 52

Bookassist

DECEMBER 15, 2021

With the average length of stay lengthening, IRS is an invaluable tool for hotels to sell and convert these longer-stay bookings. Tools without strategy are just tools As a direct result of implementing these conversion solutions hotels can generate revenue which would otherwise have been lost.

Average Length of Stay 52

Average Length of Stay Travel Revenue Hotels 52

SiteMinder

SEPTEMBER 26, 2022

For example, when you identify the market segment that offers your hotel the longest stays you can focus on this segment to drive up the average length of stay in your property. It is a crucial step in applying this data for the benefit of the hotel’s business. They may also group by channel to provide segmentation.

Hotel Marketing 95

Hotel Marketing Market Marketing Fair Share 95

Cloudbeds

MARCH 20, 2023

It is a fundamental process of revenue management, but also brings benefits to marketing, operations, and the guest experience. When lodging operators divide guests into segments, they can be more targeted in promotions, communications, and guest services to increase revenue, guest loyalty, and guest satisfaction. Track performance.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

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. 81% of pet owners prefer staying in pet-friendly hotels over other forms of accommodation. Tourists spend an average of 167 USD per day in Thailand.

Travel 52

Travel Accommodation Tourism Hotels 52

Hotelier Magazine

MAY 16, 2023

Future product enhancements, which are expected to begin rolling out later this year, include portfolio-level benchmarking, monthly P&L, average-length-of-stay data and forward-looking occupancy.

Average Length of Stay 52

Average Length of Stay Market Share Scale Occupancy 52

Hotel Business

APRIL 15, 2024

“Longer stays are a boon for hoteliers,” said Adam Harris, cofounder/CEO, Cloudbeds. When guests stay longer, they’re more likely to spend on additional experiences and services. By increasing revenue per guest, boosting occupancy rate and reducing room turnover costs, hoteliers benefit.

Average Length of Stay 64

Average Length of Stay Travel Occupancy Tourism 64

Cloudbeds

MARCH 16, 2023

In North America, the average booking window exceeded 2019 levels by five days; in Europe, two days. Meanwhile, ongoing travel restrictions in the Asia Pacific region kept the booking window five days short of the 2019 average. Length of Stay Most travelers within the data set booked stays of 1 to 2 nights over the last four years.

Average Length of Stay 52

Average Length of Stay Average Daily Rate OTA Occupancy 52

Travel Media Group

APRIL 12, 2023

So the first thing that we’ve observed was that your average length of stay across the board for business travelers has actually increased, which is, which, which is great for us, you know, I mean, hotels are always striving to have a longer length of stay for, for, for transient guests.

Hospitality 98

Hospitality Travel Business Market 98

Hotel Business

MARCH 16, 2023

In North America, the average booking window exceeded 2019 levels by five days; in Europe, two days. Meanwhile, ongoing travel restrictions in the Asia Pacific region kept the booking window five days short of the 2019 average. Length of stay Most travelers within the data set booked stays of 1 to 2 nights over the last four years.

Average Length of Stay 52

Average Length of Stay OTA Occupancy Digital Marketing 52