Little Hotelier

AUGUST 29, 2023

Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancy rates. With their scale and global reach OTAs provide hotels with a cost-effective way to increase bookings on a pay-per-performance basis. Income: Forecasted and other expected revenue.

ROI 98

ROI Hotels Average Length of Stay Revenue 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

Little Hotelier

MARCH 10, 2024

The software supports various functions, including reservation management, rate setting, and sales forecasting, facilitating a more organised and strategic approach to selling rooms and services. The system integrates various data points to provide actionable insights, aiming to balance occupancy and revenue.

Hotel Sales 52

Hotel Sales Sales 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. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. Hotel occupancy will increase 2.5%

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

Social Tables

DECEMBER 27, 2018

Meanwhile, late in 2018, CBRE forecasted that hotel supply would peak at 2% gain, stabilizing to 1.9 Respondents to the AMEX Meetings & Events Forecast predict that rise will equal about 2.41% in North America, while CWT expects an even higher hike of 3.7%. Last year, the Global Meetings Forecast predicted a 3.8%

Events 167

Events Business Scale Consumer 167

Hotelogix

JUNE 10, 2024

  Dynamic pricing in the hotel industry refers to tweaking room rates based on various factors such as demand, occupancy, seasonality, events, and even competitor pricing. increase occupancy, maximize revenue during peak times, etc.). Forecasting : The software should offer accurate demand forecasting and trend analysis.

Revenue 52

Revenue Occupancy ROI Revenue Management 52

SiteMinder

OCTOBER 9, 2022

Revenue managers continuously solve an ever-changing puzzle, where occupancy and ADR are two key pieces. Delivering day-to-day as well as promotional strategies in support of key revenue management metrics, such as ADR, RevPAR, occupancy and channel mix. External data is information that the hotel cannot generate themselves.

Revenue Management 59

Revenue Management Revenue Management Occupancy 59

Hotelogix

SEPTEMBER 12, 2024

A Hotel PMS provides several operational reports, including a history and forecast report, revenue report, reservation report, housekeeping report, night audit report, financial report, guest history report, occupancy reports, etc., Scalability : Cloud-based systems can be easily scaled up as the hotel grows.

Management 52

Management Revenue Management Hotels Operations 52

SiteMinder

OCTOBER 10, 2022

The company is the recognised leader in hotel industry benchmarking and provides market data including supply and demand and market share information on a global scale. For example, STR data reveals that the average occupancy rate across US hotels in August 2022 was 66.5%, and the average daily rate was US$151.49. STAR summary.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Cloudbeds

APRIL 30, 2024

With dynamic pricing, room rates are not fixed but are adjusted based on market demand, competition, time of booking, customer behavior, occupancy, and other factors that can influence booking patterns. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates. Maximizing occupancy.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Hotel Designs

AUGUST 29, 2023

Systems that are already using AI include chat bots, CCTV analytics, data analytics and forecasting, predictive maintenance etc. The future will bring further use of AI including enhanced personalisation and more use of augmented reality technologies to provide immersive and interactive experiences for guests.

Hospitality 98

Hospitality Operations Travel Hotels 98

Cloudbeds

JUNE 5, 2024

How your online reputation impacts pricing strategies Your online reputation has a significant impact on occupancy and profitability. This, in turn, leads to more visitors, conversions, and, finally, higher occupancy rates. without harming its occupancy rates. Demand-based pricing. Profit pricing.

Revenue Management 52

Revenue Management Revenue Occupancy Average Daily Rate 52

Boutique Hotel News

DECEMBER 20, 2022

According to Matterport , JLL was able to transact 85 per cent faster using digital twin technology, and hospitality properties with a digital twin can increase occupancy by 14 per cent. Expect loyalty programs to be reimagined in line with this trend, and for brand activation companies such as Way to quickly scale.

Travel 124

Travel Hotels Branding Consumer 124

Hotelier Magazine

SEPTEMBER 20, 2024

Occupancy growth has reverted back to ‘normal’ growth levels, and the Middle East and Asia (excluding China) reported strong YOY growth YTD. At the other end of the scale, the leaner model of the rooms-led economy segment, with little-to-no staffed F&B operation, has become more attractive for its operating model.

Tourism 52

Tourism Pipeline Hotels Marketing 52

Catala Consulting

NOVEMBER 18, 2023

Hotels used historical data and simple forecasting methods to set room rates, often focusing on short-term gains. This approach includes optimizing room rates and occupancy, but it goes much further. It involves scrutinizing operational costs like energy, supplies, and labor to find savings.

Revenue Management 52

Revenue Management Revenue Management Hotels 52

Hotel Operations

MARCH 15, 2023

Forecasting demand is an example. “We’re We’re not just looking at past occupancy rates, but can bring in customer segments and property types and weather and plane schedules – a wide range of external or causal factors. Quantifying relationships between data sets to come up with predictions.

Hospitality 59

Hospitality Hotels Operations Revenue 59

Hotelier Magazine

OCTOBER 10, 2023

Our long-term forecast is that we’re at full recovery. Test it out on a small scale and see if you can create meaningful improvements. Dover started the presentation by outlining the three major costs for restaurant businesses: food, labour and occupancy. How do you upskill? How do you create the skills that you need?

Hospitality 59

Hospitality Consumer Motels Revenue 59

Hotelier Magazine

MARCH 11, 2024

This represents the recovery of the tourism sector from the pandemic, one year earlier than forecast. Occupancy rates have returned to pre-pandemic levels with ships largely at 95 per cent occupancy. billion by the end of 2023. million passengers estimated through the Port of Vancouver — a 54-per-cent increase over last year.

Tourism 52

Tourism Business Marketing Market 52