Xotels

MAY 30, 2024

What drives more value to the business, ADR, average daily rate, or occupancy? Occupancy or ADR? So what is it, Occupancy or Average Room Rate (ARR)? In a formula it is expressed as follows: Occupancy x ADR = RevPAR In the end, it is not about occupancy or ADR, average daily rate, but about how much money is made by the hotel.

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Hotel Speak

JUNE 4, 2024

What drives more value to the business, ADR, average daily rate, or occupancy? So what is it, Occupancy or Average Room Rate (ARR)? In a formula it is expressed as follows: Occupancy x ADR = RevPAR In the end, it is not about occupancy or ADR, average daily rate, but about how much money is made by the hotel. Which is it?

Revenue Management 47

Revenue Management Occupancy Revenue Average Daily Rate 47

Hotelogix

OCTOBER 7, 2024

The city's ongoing urban development projects and plans to enhance its tourism offerings are expected to increase hotel occupancy rates and visitor spending.

Cancellation 52

Cancellation Tourism Hotels Operations 52

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. Skewed Occupancy Data Accurate occupancy data is important for hotels to make informed decisions.

Cancellation 52

Cancellation Overbooking Occupancy Hotels 52

Cloudbeds

AUGUST 21, 2023

While for some hoteliers it’s best to avoid overbookings altogether, for others, a good strategy can increase revenue, improve the occupancy rate and mitigate losses. An overbooking strategy is when a property purposefully books its inventory beyond capacity in anticipation that a certain amount of guests will cancel or not show up.

Overbooking 98

Overbooking Cancellation Occupancy OTA 98

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

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. By deploying this strategy a hotel is insuring itself against possible cancellations by having secured guests who can fill cancelled bookings. What is a hotel overbooking strategy? 2) Use multiple data sources.

Overbooking 93

Overbooking Cancellation Upsell Revenue 93

STAAH

DECEMBER 13, 2023

Flexible Rate or Free Cancellation – the most popular rate types among our guests. This rate plan offers guests the option to cancel their booking for free up to 5 days before their check-in date, making it an attractive choice for those seeking flexibility. Non-refundable Rate – designed to secure more bookings and guarantee revenue.

Cancellation 81

Cancellation Market Marketing Revenue 81

Hotelogix

NOVEMBER 13, 2023

However, in cases of last-minute cancellations, your profit is badly impacted. Hotels deliberately do this as a safety measure to avoid losses in case of any last-minute cancellations or no-shows. Achieving full occupancy and maximizing revenue - With hotel overbooking, you have a full-proof plan to maximize your revenue.

Overbooking 59

Overbooking Cancellation Revenue Occupancy 59

Hotelogix

JANUARY 30, 2024

The report also covers cancellations, no-shows, and temporary reservations for the day. Additionally, it includes reports on no-shows, occupancy, market analysis, company contributions, business analysis, MIS, and a manager flash report with budget details for comprehensive analysis.

Occupancy 59

Occupancy Average Daily Rate Revenue Hotels 59

Hotel Business

SEPTEMBER 3, 2024

It was also reported that Delta Airlines canceled more than 4,800 flights since the outage happened. This triggered a domino effect, impacting hotel bookings as stranded travelers frantically rebooked flights and adjusted itineraries, leading to a surge in last-minute cancellations and requests to modify their stay.

Cancellation 104

Cancellation Revenue Hotels Travel 104

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.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

STAAH

MAY 24, 2023

6)Identifying popular cancellation policies: By analyzing popular cancellation policies , hoteliers/accommodation providers can gain a better understanding of guest preferences and factors that influence their decision to cancel a booking.

Market 85

Market Marketing Cancellation Accommodation 85

eZee Absolute

SEPTEMBER 22, 2023

In this blog, we’ll break down the various hotel rate types, and how they can benefit your business and provide actionable strategies for you to maximize your revenue and occupancy. Non-Refundable Rates: Non-refundable rates are typically lower than standard rates but come with stricter cancellation policies. So, let’s dive in!

Revenue 52

Revenue Management Occupancy Revenue Management 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

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). How do we Forecast Hotel Occupancy? What is Hotel Forecasting?

Forecasting 52

Forecasting Average Daily Rate Occupancy Revenue Management 52

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 90

Revenue Management Occupancy Upsell Revenue 90

TravelNet

DECEMBER 19, 2022

Introduction Whimstay is the leading vacation rental marketplace for PMCs looking to increase occupancy rates by filling their unsold nights, last minute. Whimstay is the leading vacation rental marketplace for PMCs looking to increase occupancy rates by filling their unsold nights, last minute. Simple and seamless.

Cancellation 52

Cancellation Occupancy Revenue Services 52

SiteMinder

NOVEMBER 15, 2022

Some hoteliers love using this strategy to boost their revenue and protect their property from losing out due to last-minute cancellations. Many hotels do this deliberately to offset last-minute cancellations or no-shows and avoid losing revenue and occupancy. Cancellations are part of doing business.

Overbooking 52

Overbooking Cancellation Occupancy Closing 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

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. bad weather, surprise events or event cancellations).

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Cloudbeds

NOVEMBER 15, 2024

This scalability is especially valuable for hotels – as more information is collected about guest behavior, booking trends , and occupancy patterns the more precise rate adjustments, inventory management, and marketing strategies will be in the future. Why it’s important for hotels? Why it’s important for hotels?

Upsell 52

Upsell Occupancy Revenue Management Revenue 52

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

Hotelogix

NOVEMBER 12, 2023

Plus, it also provides you with information on rooms per day (RPD) and occupancy percentage for the past 10 days and its forecast for the next 30 days. You can also view the number of rooms that are marked as available, occupied, complementary, cancelled, no-show, day use, etc.

Management 59

Management Occupancy Revenue Average Daily Rate 59

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

Little Hotelier

JULY 31, 2023

It’s designed to maximise hotel occupancy through its distribution channels. It’s a powerful tool that can help you drive maximum occupancy and increase your hotel’s visibility. You can access reports on your bookings, cancellations, and revenue, helping you to understand trends and make informed decisions.

Cancellation 52

Cancellation Overbooking OTA Management 52

STAAH

JUNE 11, 2024

A smart booking engine such as SwiftBook can help you make optimised decisions via dynamic pricing as well as offer discounts, loyalty programmes, free amenities or flexible cancellation policies for guests who book directly. Participate in OTA promotions selectively, targeting periods of low occupancy or launching new offerings.

OTA 90

OTA Shopping Occupancy Overbooking 90

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. Strategies to prepare for peak season in the hotel industry When peak season is just around the corner, it’s exciting – you’re looking forward to welcoming guests and having full occupancy.

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

SiteMinder

MAY 16, 2023

High occupancy rate during the shoulder season and low season The shoulder season is typically the period between the high and low seasons, and it can be difficult to attract guests during this time. A midstay booking from Homelike typically has a Length of Stay of about 3 months, significantly increasing your overall occupancy rate.

Average Length of Stay 105

Average Length of Stay Occupancy Average Daily Rate Revenue 105

SiteMinder

SEPTEMBER 6, 2023

While they can be a wild card in the hotel management game, they offer a unique opportunity to maximise occupancy and revenue. Last-minute hotel room bookings have a range of benefits including: Maximised occupancy : Filling rooms at the eleventh hour ensures that you’re making the most of your available inventory.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

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 aims to ensure maximum occupancy.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Hotelogix

AUGUST 21, 2024

Reconcile room status The night auditor must evaluate and analyze a particular day's occupancy report and the housekeeping room status report to determine a hotel's correct occupancy status.

Revenue 52

Revenue Average Daily Rate Rack Rate Hotels 52

Hotelogix

FEBRUARY 4, 2024

You can also cancel or modify reservations based on guests' requirements here.  Reservation report: It provides insights into reservations by room type, including source, cancellations, no-shows, etc. Occupancy report: It gives you a snapshot of room occupancy rates, clearly showing your hotel's capacity utilization.

Management 59

Management Cancellation Hotels Sales 59

Hotelogix

OCTOBER 24, 2024

Your front desk staff can use a Hotel PMS to accept, cancel, and modify reservations based on your guests’ requirements. It analyses several factors including demand, season, occupancy forecast, and competitor pricing, etc. Similarly, this integration updates reservation cancellations and modifications on all the sales channels.

OTA 52

OTA Management Overbooking Cancellation 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 Market 88

SiteMinder

MAY 6, 2024

Hotels that have introduced revenue and sales strategies alongside SiteMinder’s distribution have experienced up to 17% growth in occupancy in the first few months. Its diverse rate plans, exclusive offers and flexible cancellation policies ensure there’s always something on offer for every market segment.

Revenue 52

Revenue Cancellation Hotels Sales 52

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