Lodging

JANUARY 29, 2024

HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb. The market is projected for a Friday through Sunday night occupancy of 87.9 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.

Average Daily Rate 278

Average Daily Rate Forecasting Occupancy Revenue 278

Lodging

JUNE 5, 2023

hotel forecast at the 45th Annual NYU International Hospitality Industry Investment Conference. The occupancy projection for this year was lowered 0.2 percent from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5 percent and 1.3 percent and 1.3

Forecasting 147

Forecasting Average Daily Rate Occupancy Tourism 147

Hotel Management

FEBRUARY 13, 2024

Occupancies are at unparalleled levels over the concert periods, and we have also seen a surge in regional demand as Swifties take the opportunity to travel further. For both the Melbourne and Sydney concerts we’ve seen a bump in hotel occupancy around the event dates, and our restaurants have also seen great reservation numbers.

Occupancy 290

Occupancy Tourism Events Accommodation 290

Hotel Management

AUGUST 31, 2023

In the exclusive video interview below, she says thanks to economic uncertainty, it’s challenging to forecast the key metrics of RevPAR, rate and occupancy, but the United States outlook remains positive. The post Exclusive video: STR President Amanda Hite’s global performance expectations appeared first on Hotel Management.

Forecasting 264

Forecasting Occupancy Management Hotels 264

Hotel News Resource

AUGUST 5, 2024

In this guide, weÕll revisit the basic fundamentals of revenue management and walk through a step-by-step process to effectively forecast hotel occupancy using real datasets.

Forecasting 76

Forecasting Occupancy Revenue Management Revenue 76

Hotel Business

MAY 17, 2024

The company’s latest forecast projects a 2% increase in RevPAR growth for 2024, down from the 3% estimated in February. CBRE forecasts GDP growth of 2.3% increase in occupancy. The post CBRE forecasts RevPAR growth to improve in H2 appeared first on hotelbusiness.com. and average inflation of 3.2%

Forecasting 111

Forecasting Construction Occupancy Consumer 111

Hotel Business

DECEMBER 12, 2022

The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Some of the findings: Direct bookings are on the rise.

Occupancy 116

Occupancy Ancillary Revenue Upsell Revenue 116

Hotel Business

FEBRUARY 10, 2023

Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for Feb. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. 10-12, which would be the second-highest level for a Super Bowl weekend, according to STR.

Forecasting 105

Forecasting Average Daily Rate Occupancy Consumer 105

Skift Blog

JUNE 14, 2023

Skift Take: This might be the summer of travel, but the economic uncertainty still has consumers choosing value above anything else. Srividya Kalyanaraman Read the Complete Story On Skift

Forecasting 202

Forecasting Travel Consumer Occupancy 202

Cloudbeds

DECEMBER 2, 2024

One of the main challenges for hotels is creating accurate forecasts in the short, medium, and long term. Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. But traditional forecasting models no longer cut it.

Forecasting 75

Forecasting Occupancy Revenue Management Revenue 75

Hotel News Resource

NOVEMBER 19, 2024

The final forecast revision for U.S. hotel growth in 2024 shows downgraded projections for average daily rate (ADR), revenue per available room (RevPAR), and occupancy.

Average Daily Rate 92

Average Daily Rate Forecasting Occupancy Tourism 92

Hotel News Resource

SEPTEMBER 24, 2024

Article - Hotel Forecasting Guide 2024 - Tools, Methods & Reports - Optimize your hotel’s revenue with effective forecasting methods. Understand demand trends, occupancy rates, and pricing strategies for 2024 success.

Forecasting 78

Forecasting Occupancy Revenue Hotels 78

Demand Calendar

APRIL 25, 2023

Destination demand forecasting estimates the overall daily demand for hotel rooms in a particular destination. This type of forecasting is essential for understanding the total demand for accommodation in a destination.

Forecasting 71

Forecasting Occupancy Accommodation Revenue 71

Lodging

JANUARY 30, 2024

WASHINGTON—Hotels are projected to pay a record amount of wages and generate a record level of tax revenue in 2024, according to the American Hotel & Lodging Association’s 2024 State of the Hotel Industry report.

Forecasting 162

Forecasting Occupancy Revenue Hotels 162

Hospitality Net

AUGUST 5, 2024

A higher booking window indicates strong occupancy and revenue guaranteed in advance. The company forecast third-quarter room night growth to be between 3% to 5%, compared to 7.1% growth in the second quarter and 14.9% growth in the year-ago quarter.

Forecasting 151

Forecasting Occupancy Revenue Travel 151

Hotel Business

AUGUST 21, 2023

Boutique hotels continue to report solid occupancies and healthy ADRs, and collectively achieved increases in all performance indicators through June, according to the Boutique Hotels: Mid-Year 2023 report from The Highland Group. At mid-year 2023, boutique hotel occupancy levels indexed ahead of all U.S. This compares to all U.S.

Occupancy 98

Occupancy Hotels Revenue Branding 98

Hospitality Net

MAY 24, 2023

CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains.

Forecasting 135

Forecasting Occupancy Hotels 135

Cloudbeds

OCTOBER 9, 2024

Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. For hotel managers and the industry as a whole, accurate forecasting is not just beneficial—it’s essential for maintaining competitiveness and profitability in a dynamic market.

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

Hotel Management

NOVEMBER 9, 2023

“STR’s 2024 outlook data suggests all of Australia’s capital cities are experiencing strong ADRs through the end of 2023 and that this is set to continue into the coming year, with occupancies following,” said Simpson. It’s an ecosystem,” he said.

Forecasting 264

Forecasting Consumer Management Branding 264

Hospitality Net

NOVEMBER 3, 2023

The hotel group forecasts a similarly positive winter season for its hotels in Tenerife, Madrid, the Caribbean and Latin America. Palladium Hotel Group has concluded the 2023 summer season in the Balearic Islands and Marbella with very positive closing figures.

Forecasting 146

Forecasting Occupancy Closing Revenue 146

Hotel Business

NOVEMBER 15, 2024

hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE ’s latest forecast. CBRE now forecasts a 0.5% This revision reflects a 40-basis point (bps) decrease in expected occupancy compared to the prior forecast, with occupancy anticipated to decline by 30 bps year-over-year.

Average Daily Rate 111

Average Daily Rate Forecasting Occupancy Hotels 111

STAAH

AUGUST 22, 2023

With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. To conclude Optimising revenue during low occupancy doesn’t have to be difficult.

Occupancy 81

Occupancy Forecasting OTA Revenue 81

Hotel Management

FEBRUARY 20, 2024

In short, they largely do, which could spell another strong year for Southeast Asia’s hotel industry from both an occupancy and investment point of view. In 2024, JLL forecasts that value-add opportunities in Southeast Asia will be on the radars of investors.

Real Estate 245

Real Estate Average Daily Rate Occupancy Marketing 245

Hotel Business

NOVEMBER 16, 2023

CBRE is forecasting RevPAR growth to recover in 2024 as inbound international travel further improves and sector-specific headwinds moderate. The company forecasts 3.0% RevPAR growth next year, driven by a 40 basis-point (bps) occupancy improvement and a 2.3% CBRE’s baseline forecast anticipates 0.8% ADR increase.

Forecasting 110

Forecasting Occupancy Scale Consumer 110

Hotel Business

DECEMBER 13, 2024

hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE s latest forecast. CBRE now forecasts a 0.5% This revision reflects a 40 basis point (bps) decrease in expected occupancy compared to the prior forecast, with occupancy anticipated to decline by 30 bps year-over-year.

Forecasting 52

Forecasting Occupancy Closing Travel 52

Hospitality Net

OCTOBER 2, 2023

Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance.

Revenue Management 152

Revenue Management Revenue Management Forecasting 152

Hotelogix

JULY 18, 2024

Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. What is Hotel Forecasting? Hotel financial forecasting helps hoteliers set targets by predicting fiscal outcomes.

Forecasting 52

Forecasting Average Daily Rate Occupancy Revenue Management 52

Hotel Business

AUGUST 15, 2024

CBRE is reducing its forecast for U.S. CBRE forecasts GDP growth of 2.3% and a 10-basis point increase in occupancy. CBRE forecasts compound annual growth in supply of under 1% over the next three years, as elevated financing and construction costs temper construction activity. The company now projects a 1.2%

Forecasting 59

Forecasting Construction Events Occupancy 59

Hotel Business

DECEMBER 4, 2023

this year to $155.88, or 19% above 2019 levels, while occupancy will increase by 1.0% increase in occupancy. LARC forecasts 2023 U.S. Market outlooks Listed below are the best and worst-performing markets based on LARC’s forecasts. It anticipates ADR to rise by 4.4% increase in ADR and a 0.8%

Forecasting 110

Forecasting Occupancy Market Marketing 110

Hotelier Magazine

AUGUST 27, 2024

WASHINGTON — After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data. July 2024 (percentage change from 2023) Occupancy: 75.2 Though most segments grew year over year, group occupancy continued to decline, down 8.5 per cent (down 0.4

Occupancy 59

Occupancy Forecasting Consumer Hotels 59

Hotel Business

FEBRUARY 15, 2024

CBRE is forecasting RevPAR will continue to grow steadily in 2024, driven by improving group business, inbound international travel and traditional transient business demand. The company forecasts a 3% increase in RevPAR growth in 2024, with occupancy improving by 45 basis-point (bps) and ADR increasing by 2.3%.

Forecasting 105

Forecasting Occupancy Construction Business 105

Hotel Business

NOVEMBER 16, 2022

occupancy for Thanksgiving week is at 29%, pacing 1% higher than 2019 levels. markets with occupancy at more than 50% matches 2019 levels for Thanksgiving week. While the top markets have changed year-over-year, there are currently nine markets at more than 50% occupancy—the same amount in 2019 for the same stay week.

Occupancy 59

Occupancy Forecasting Market Marketing 59

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. Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Hotel Management

MAY 1, 2023

The Collingwood property has seen occupancy double to 72% and RevPAR grow by $50 in Q1 FY23, when compared to the opening three months May-July FY22. The City of Sydney is a new hospitality market for lyf where we have a first in market advantage in an area with high population growth forecasts for urban professionals.

Retail 246

Retail Accommodation Branding Market Share 246

Hotel Management

OCTOBER 17, 2024

“Investors have consistently shown an appetite to play larger in the hotel sector in Asia Pacific and we see no signs that activity will wane in the last quarter of 2024, making us increase our investment volume forecast to $12.2 Given that investor interest is unlikely to wane, JLL forecasts in total sales of $4.7

Average Daily Rate 130

Average Daily Rate Occupancy Forecasting Hotels 130

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

Hotel Business

APRIL 15, 2024

decrease in occupancy, which was driven in part by a 1.3% This is 61 basis points higher than previously forecast. decrease in occupancy, which was driven in part by a 1.3% RevPAR, occupancy down in Feb. increase in ADR did not offset a 1.9% drop in demand. CBRE expects first-quarter GDP growth of 2.1% drop in demand.

Occupancy 59

Occupancy Consumer Market Share Forecasting 59