Inn Quest

OCTOBER 17, 2023

That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels. However, when guests don’t cancel as expected, it can lead to overbooking. The question yet remains: is it the right thing to do?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

STAAH

MAY 16, 2023

Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates. 4) Flexible Cancellation Policy Guests are looking for flexibility , now more than ever.

Revenue Management 96

Revenue Management Occupancy Upsell Revenue 96

SiteMinder

JUNE 12, 2024

This includes offering tailored packages, suggesting room upgrades, promoting in-house dining experiences, and even curating special entertainment events. Optimising Occupancy : Hotels have a fixed number of rooms, making it essential to ensure high occupancy rates. Our smart hotel platform helps you do exactly that.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Hotelogix

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. The consequences can greatly impact the revenue streams, occupancy rates, and guest satisfaction. Seasonal Influences: Holidays and special events can impact travel plans. How No-Shows Impact Hotels?

Cancellation 52

Cancellation Overbooking Occupancy Hotels 52

Hotelogix

JULY 18, 2024

It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. It involves forecasting key metrics such as demand, occupancy, average daily rate, and RevPAR (revenue per available room). What is Hotel Forecasting? How do we Forecast Demand?

Forecasting 52

Forecasting Average Daily Rate Occupancy Revenue Management 52

Cloudbeds

MAY 8, 2024

After reading this article, you will learn how an effective analysis of your property’s booking performance will help you better understand your property’s demand patterns and how to leverage them to maximize revenue and occupancy. Occupancy rate indicates the percentage of utilization of hotel rooms. Is it an event?

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 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. Cancellation data: How types of guests and times of year affect cancellation and no-show rates. Outlier factors: How special events and unusual occurrences have historically affected demand (e.g.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Even if occupancy rates do not rise, this can help hotels raise their profit margins. A Rise in Profitability: Effective pricing strategies can also boost a hotel’s profitability.

Revenue 88

Revenue Occupancy Hotels Marketing 88

Cloudbeds

OCTOBER 17, 2024

By strategically analyzing revenue booked, occupancy rates, acquisition costs, and guest segments, hotels can build an advanced distribution strategy that delivers real value. These include: Occupancy rate – which channels contribute most to occupancy? RevPAR – which booking sites result in the highest RevPAR?

OTA 76

OTA Occupancy Hotels Revenue 76

Inn Quest

APRIL 3, 2023

Utilizing cloud-based hotel management software can simplify room block management and provide real-time updates on room availability, bookings, and cancellations. Accurate forecasting is another critical aspect of revenue management, allowing hotels to price confidently and prepare for high-demand seasons and special events.

Operations 88

Operations Revenue Management Revenue Forecasting 88

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Hotel occupancy will increase 2.5% The average cancellation rate is 20%. Average US occupancy rate is just under 65%. What are hotel industry statistics? globally next year.

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

Little Hotelier

OCTOBER 11, 2023

This is exciting for your business because it presents an opportunity to push the limits of your occupancy and cash-in on increased revenue. hotels should consider a number of local factors, such as the climate, local holidays and events, school terms and target guests. Learn more When is peak travel season for hotels?

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

Travel Media Group

DECEMBER 9, 2021

For some hotels, this is actually where occupancy picks up a little bit. That's when that occupancy slows down, but around the holidays, you might be seeing a spike in occupancy and people traveling now, especially in comparison to last year, more and more people getting out there. Obviously, winter is not our favorite season.

Occupancy 52

Occupancy Events Hotels Travel 52

Hotel Business

MAY 18, 2023

We are entering the time of year when the likelihood of wildfires, lightning, heavy rain, tornadoes and tropical storms significantly increases, and so does hotel and resort occupancy. All it takes is one significant weather event handled poorly. The plan should outline the steps before, during and after a severe weather event.

Cancellation 52

Cancellation Events Resorts Occupancy 52

SiteMinder

NOVEMBER 15, 2022

A property can choose what type of bid values it would like to use for hotel campaigns in Google Ads from the following list: Commissions (per stay) : A percentage of the room booking value is paid only for actualised stays (not for cancellations). Manual CPC (cost-per-click) : Bid a fixed amount when someone clicks on your ad.

Cost Per Click 105

Cost Per Click Hotels Cancellation Management 105

Clock Software Hospitality

OCTOBER 27, 2020

Read more: Guest Outreach and Retention | COVID-19's Effect on the Hotel Industry Hoteliers are opening their doors to local guests in an attempt to drive up their occupancy but the issue remains that the industry in its current format cannot survive unless it adjusts to fit this emergency state of hospitality.

Hospitality 52

Hospitality Cancellation Occupancy Revenue 52

eZee Absolute

SEPTEMBER 26, 2024

It’s when a guest books a room but simply doesn’t turn up without canceling. You’ve got the solo traveler who forgets about the booking, the big group that cancels last minute, and then there’s the mysterious disappearance act – no clue why they didn’t show up. There are a few different types of no-shows.

Cancellation 52

Cancellation Hotels Revenue OTA 52

SiteMinder

OCTOBER 8, 2024

It also opens up this market while having no impact whatsoever on your direct distribution channels – B2B is an entirely separate beast, and so represents an incredible opportunity for a hotel to maximise its occupancy. Demand forecasting Use demand forecasting to anticipate occupancy trends and adjust your pricing accordingly.

B2B 52

B2B Occupancy Cancellation Hotels 52

Travel Media Group

DECEMBER 22, 2021

So this workshop was called "Create an Occupancy Flurry", and we've got some sort of takeaways and insights from the hotels and groups that I was speaking to during these workshops. Think about how many weddings got canceled, rescheduled. Annual events that have been going on for decades had been canceled.

Cancellation 52

Cancellation Events Business Travel 52

Hotel Speak

SEPTEMBER 26, 2024

Certainly rates and occupancy grew very nicely in 2023, but we reached a plateau where we couldn’t really push rates any further,” Jon Siberry, Group Revenue Manager of Sarova Hotels explained. Any increase in revenue is going to come through occupancy, so 2024 has been a bit more of a push.

Market 83

Market Marketing Hotels Forecasting 83

Cloudbeds

FEBRUARY 28, 2024

When travelers book through your website, they can make changes or cancel directly with your property, giving them peace of mind. As a lodging operator, you can implement deposit and cancellation policies as a safeguard in case of no-shows. Reassure travelers and protect your bottom line. Manage rates and availability in real-time.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

SiteMinder

OCTOBER 15, 2023

For example, in the morning you may have lower rates because your occupancy is low and demand is not strong. Dynamic pricing can be an important strategy for a hotel that’s looking to optimise occupancy and maximise profit. This will allow them to capitalise on opportunities to boost occupancy and/or maximise revenue.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Boutique Hotel News

OCTOBER 27, 2022

UK: IHM, in partnership with AHV Associates and H+G, hosted a hotels and hospitality Urban Living Insights event at the House of Lords yesterday. . Airport hotels are also being offered government contracts to house refugees, which could result in high occupancy levels. . Luxury hotels have performed incredibly well, as have economy.

Hospitality 52

Hospitality Real Estate Hotels Events 52

SiteMinder

JULY 13, 2024

By analysing historical data, current bookings, local events, and even broader market trends to identify patterns, your hotel can anticipate busy and quiet periods. Within a dynamic pricing strategy , prices should vary based on supply and demand to improve revenue and ensure maximum occupancy.

Revenue Management 98

Revenue Management Revenue Management OTA 98

Little Hotelier

NOVEMBER 6, 2023

Public holidays and popular local events will also affect how much you can charge per room. These might follow the four seasons of the year, or they could be defined by school holidays, festive seasons or major local events. Market demand Most hotels see a spike in demand on weekends when compared to weekdays.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Protel

FEBRUARY 15, 2022

From this screen, you can quickly check guests in and out, check availability and view the week’s projected occupancy. From these lists, you can further control different aspects of your operation, including canceling reservations, types of payments, meal plans, and much much more. NEWSLETTER You have Successfully Subscribed!

Cancellation 52

Cancellation Hotels Events Occupancy 52

Xotels

APRIL 3, 2024

Key factors considered in market segmentation include length of stay , day-of-week stays, total revenue per room , total revenue per client, booking lead time, cancellation percentage, and no-show ratio. This information enables revenue managers to strategically target specific holidays or events with tailored offers and packages.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Social Tables

SEPTEMBER 22, 2017

Improving Occupancy Rates Using Big Data for Hotels. A perfectly timed mobile marketing campaign directed at travelers looking for a place to stay after a flight cancellation is just one small example of the power of big data for hotels. Big data for hotels offers increased efficiency.

Cancellation 68

Cancellation Hotels Upsell Email Marketing 68

Travelboom Marketing

MARCH 12, 2024

This company, along with others like VRBO , keeps hoteliers on their toes as they continue to compete for occupancy in both top destinations and less-traveled locations. Tailor your specials around area events like shows, festivals, and conferences. Increase mid-week occupancy by offering a deep discount or convincing deal.

Hotels 52

Hotels Cancellation Digital Marketing Accommodation 52

eZee Absolute

MAY 13, 2024

It provides a quick overview of key performance indicators (KPIs) such as occupancy rate, Average Daily Rate (ADR) , and Revenue per Available Room (RevPAR) for the previous day, week, month, or year (depending on the configuration). For example: A hotel’s booking pace report for the upcoming month falls short of the occupancy target.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Amadeus Hospitality

JUNE 20, 2023

With continued demand for leisure travel and the reopening of China to tourism after several years, global hotel occupancy is on the upswing in 2023, with many markets surpassing pre-pandemic occupancy levels according to Amadeus Demand360 ® data.

Hospitality 52

Hospitality Travel Occupancy Revenue 52

Little Hotelier

FEBRUARY 5, 2024

Reporting and analytics The software includes robust reporting and analytics capabilities, allowing hoteliers to track key performance metrics, such as occupancy rates, revenue, and guest demographics. This feature is designed to assist in coordinating different business areas related to an event. Cancel anytime.

Management 59

Management Overbooking OTA Accommodation 59

Travel Media Group

JULY 6, 2023

Join Suite Spot Host, Ryan Embree, as he covers the top 5 takeaways from the inaugural event of The Hospitality Show presented by Questex and the AHLA. This was an inaugural event. But today we are going to be talking about the top five takeaways from the event. That’s why I love these industry events so much.

Hospitality 97

Hospitality Travel Events Marketing 97

SiteMinder

FEBRUARY 25, 2024

By keeping up with the news about hospitality industry trends and events, a hotel can ensure that these changes won’t be detrimental to its business, and it can hopefully capitalise on these developments. decrease in occupancy during December. Almost one in five hotel rooms booked online are cancelled prior to travel.

Hospitality 52

Hospitality Cancellation OTA Tourism 52

TravelNet

JUNE 26, 2023

Take time to reexamine your cancellation policy, rates, and fees. Essential revenue management tools include: Market analysis Industry assessment Your performance Owner’s performance Examining the competition Dynamic pricing Dynamic pricing allows property owners to adjust prices based on factors such as demand, seasonality, and local events.

Revenue Management 52

Revenue Management Revenue Occupancy OTA 52

Clock Software Hospitality

JANUARY 12, 2021

Read more: The Three Steps to Building a Successful Segmentation Strategy For Hotels Concerts had to reschedule with tour dates pushed back a year or so, and any large scale public events that still take place (races, sports events, exhibitions, etc.) Is the wedding industry going to pull back from large scale events?

Hospitality 52

Hospitality Average Daily Rate Scale Events 52

Cloudbeds

JULY 15, 2023

The same happens with a cancellation. It then pushes ARI updates to that channel and, for two-way sync, it imports reservations/cancellations into your Channel Manager, PMS, and/or CRS dashboard. In the case of one-way sync, reservations or cancellations will not be imported. What’s allotment ? What’s iCal?

Management 76

Management OTA Cancellation Overbooking 76