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 Revenue Management Occupancy Revenue 75

Hotel Management

NOVEMBER 9, 2023

Simpson said some there are now more flexible franchising options available, such as employing an experienced operating team or hotel asset management company to manage the property, and manchise agreements, where a brand management contract can be converted to a franchise agreement once stabilisation has been reached.

Forecasting 264

Forecasting Consumer Management Branding 264

Hotelogix

FEBRUARY 27, 2025

With the increasing complexity of hotel operations , having a centralized system that automates reservations, housekeeping updates, and billing processes can make all the difference. The hospitality industry is no longer operating on traditional pen-and-paper methods. How often do billing mistakes lead to guest dissatisfaction?

Operations 40

Operations Services Hotels Revenue 40

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

Cloudbeds

DECEMBER 16, 2024

Can you create a two-day plan for me, also considering the weather forecast? Multimodal AI links this data into a unified system, enabling them to correlate satellite imagery of crop health with soil conditions and weather forecasts to make precise decisions about irrigation, fertilization, or pest control. The fourth pillar is data.

Operations 52

Operations Hotels Upsell Forecasting 52

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. As we look at the importance of forecasting for the hospitality industry, it’s interesting to note that it is also a major part of the science of hotel revenue management.

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

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 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

JANUARY 6, 2025

As a result, real estate operators must meet these standards to mitigate financial risks associated with non-compliance, further motivating them to enhance performance. As hotel operators recognize that investing in energy efficiency can lower operational costs and enhance cash flow, momentum for sustainability continues to grow.

Occupancy 52

Occupancy Hotels Forecasting Operations 52

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

Inn Quest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

Operations 88

Operations Revenue Management Revenue Forecasting 88

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

Hotelier Magazine

FEBRUARY 10, 2025

Strong operating performance and investor confidence contributed to the sectors continued momentum, particularly in metropolitan markets. Overall occupancy levels remained flat, increasing by just 0.1 Despite topline revenue growth, profitability was slightly impacted by rising operational costs. ADR growth is forecasted at 1.7

Average Daily Rate 52

Average Daily Rate Occupancy Hotels Revenue 52

Hotelogix

JANUARY 19, 2025

Key Pricing Strategies: Dynamic Pricing : Adjust rates based on real-time occupancy, demand, and competitor rates. Cost-Plus Pricing: Add profit margins to operational costs to determine rates. Historical Forecasts Historical data helps you predict future demand and optimize rates. amenities, luxury).

Minimum Length of Stay 40

Minimum Length of Stay Occupancy Forecasting Revenue 40

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% decrease in GOP dollars as labor costs from rising wages continued to pressure operating profit. RevPAR, occupancy down in Feb. drop in demand.

Occupancy 59

Occupancy Consumer Market Share Forecasting 59

Hotelier Magazine

FEBRUARY 7, 2025

According to the latest forecast by CoStar Group and Tourism Economics, U.S. The forecast also predicts a 1.6-per-cent per-cent growth in the Average Daily Rate, with an occupancy level of 63.1 The forecast suggests that the luxury RevPAR is expected to grow by 2.9 HENDERSONVILLE, Tenn. per cent in 2025.

Forecasting 52

Forecasting Average Daily Rate Hotels Tourism 52

Hotel Management

JULY 2, 2024

Demand forecasting, rate negotiations, inventory management – stay with us – competitor analysis and pricing strategy can leave even the most seasoned hotelier feeling a little fatigued. It gives you data from only one income source and is based on an occupancy rate that’s also an incomplete representation.

Revenue Management 130

Revenue Management Revenue Management Hospitality 130

Hotel Speak

OCTOBER 24, 2024

San Diego, CA – Cloudbeds has today revealed plans to become the world’s first property management system (PMS) to connect every facet of hotel operations into a single intelligence network, powered by causal and multimodal AI. Cloudbeds Intelligence will unlock new revenue potential for hoteliers across every aspect of their business.”

Upsell 105

Upsell Hospitality Cancellation Forecasting 105

Xotels

MARCH 3, 2025

From making sure staff, guests, and smooth operations are all attended to, we can understand why revenue management so frequently gets put on the back burners. Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

STAAH

APRIL 16, 2024

An RMS should provide detailed insights into key performance metrics such as Room Revenue Per Available Room (RevPAR), Average Daily Rate (ADR), occupancy rates, booking pace, and revenue forecasts. Look for an RMS that utilizes advanced forecasting models and predictive analytics to forecast demand with precision.

Revenue Management 110

Revenue Management Revenue Management Forecasting 110

Hotel Management

MARCH 14, 2024

Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels. Rotorua’s hotel occupancy rate showed the most improvement, up 39% compared to 2022, slightly ahead of Queenstown, which was up 38%, and higher again than Auckland, which has had a 33% lift.

Occupancy 130

Occupancy Events Hotels Tourism 130

Hotel Speak

JANUARY 9, 2025

Revenue management relies heavily on core principles such as data collection and forecasting. Forecasting: Using historical data and market trends to predict future demand and optimise pricing accordingly. Pricing optimisation: Setting the right prices to maximise revenue while maintaining occupancy.

Revenue Management 77

Revenue Management Revenue Management Ancillary Revenue 77

Hotel Management

AUGUST 8, 2024

SO/ Maldives is a multi-million international joint venture project developed in partnership with leading business conglomerate Wai Eco World Developer (WEWD) and operated by the successful Ennismore team – leaders in operating hotels and building brands.

Resorts 130

Resorts Average Daily Rate Retail Forecasting 130

SiteMinder

JUNE 12, 2024

Instead, they’re exploring sophisticated indicators like GOPPAR to gain a holistic view of their operations. Optimising Occupancy : Hotels have a fixed number of rooms, making it essential to ensure high occupancy rates. They’re not just satisfied with traditional metrics like ADR or RevPAR. But the evolution doesn’t stop there.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Hotelogix

JANUARY 19, 2025

Hoteliers must rise to these expectations while managing complex operations and staying ahead of the competition. Whether it’s managing the front desk or optimizing housekeeping, the right PMS simplifies operations, improves guest experiences, and enhances profitability. What is Hotel Management Software?

Management 40

Management Operations Occupancy Revenue 40

Cloudbeds

FEBRUARY 15, 2023

Striking a balance: controlling hotel operating costs while upholding guest satisfaction Keeping hotel operating expenses under control is essential to running a successful property. What are hotel operating costs? Hotel operating costs are the expenses associated with maintaining and running a property.

Operations 52

Operations Occupancy Revenue Hotels 52

Hotelier Magazine

SEPTEMBER 20, 2024

Financial Forecasting “We maintain stock for most kitchen supplies. We also look at occupancy and food sales projections to ensure we order enough product for our occupancy levels. “We We also look at occupancy and food sales projections to ensure we order enough product for our occupancy levels.

Services 90

Services Dining Forecasting Occupancy 90

Hotel Speak

MAY 30, 2024

Operating with increasingly tight margins, many hotels can no longer support loss-making business units, yet F&B remains a pivotal service for the industry. This highlights the need to ensure more intelligent cost controls across the business which improve profitability and drive operational efficiency.

Consumer 105

Consumer Forecasting Revenue ROI 105

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. This risky strategy aims to ensure full occupancy, but it can backfire. The question yet remains: is it the right thing to do?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

Hotelogix

MAY 16, 2024

It's about exceeding them while efficiently managing your operations. Streamline operations with a cloud-based hotel property management system (PMS) Upgrading to a cloud-based Hotel PMS can significantly improve hotel operational efficiency. Top 5 Tips on How to Improve Efficiency in Hotels  1.

Operations 52

Operations OTA Hotels Revenue 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 104

Market Marketing Hotels Forecasting 104

Little Hotelier

OCTOBER 17, 2024

Hotel accounting is a system designed to track and manage a hotel’s finances – income, expenses and financial performance – to ensure profitability, compliance and operational efficiency. It breaks down cash flows into operations, investments and financing activities, which can help to assess liquidity and financial health.

Average Daily Rate 93

Average Daily Rate Revenue Hotels Sales 93

SiteMinder

JULY 11, 2024

The partnership, which comes amid a summer that is expected to see international travellers to Spain grow by 8% from last year’s record season, will enhance the powerhouse hotel brand’s financial performance and streamline its operations.

Revenue 105

Revenue Branding Forecasting Revenue Management 105

Hotel Business

JANUARY 25, 2024

JLL’s Hotels & Hospitality Group ‘s Global Hotel Investment Outlook 2024 forecasts that global hotel investment volume will increase 15% to 25% year-over-year. International travel plays a crucial role in urban hotel demand, with a strong correlation between inbound foreign arrivals and urban hotel occupancy.

Consumer 126

Consumer Real Estate Tourism Hotels 126

Hotelogix

DECEMBER 19, 2024

Picture a system that displays your hotel's current status and forecasts its future. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. Smoother Operations: Spot and fix problems in your work process. You need real facts to decide things.

Business 40

Business Hotels Forecasting Revenue 40

Hotel Business

FEBRUARY 26, 2024

Designed to unify fragmented hospitality systems into a single, AI-driven platform, Hyper Nimbus streamlines hotel operations by activating built-for-purpose proprietary machine learning algorithms for revenue optimization, sales and marketing, guest intelligence and operations, according to the company.

Revenue 111

Revenue Sales Forecasting Management 111

Inn Quest

APRIL 5, 2023

It is a dynamic pricing strategy that allows hotels to offer competitive prices during low-occupancy periods while maximizing profits during high-demand periods. It enables hotels to achieve this goal by analyzing data such as occupancy rates, booking trends, and seasonal patterns to adjust prices and inventory.

Yield Management 88

Yield Management Management Occupancy Revenue 88