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. Domestic tourism is still going strong.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

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. Trading should recover further, whilst real estate headwinds may ease.

Real Estate 245

Real Estate Average Daily Rate Occupancy Marketing 245

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 90

Occupancy Forecasting OTA Revenue 90

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. Given Sydney’s CBD represents the epicentre of tourism and business within Australia, and noting the breadth of ancillary services (retail, hospitality, etc.),

Retail 246

Retail Accommodation Branding Market Share 246

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

eHotelier

MAY 6, 2024

Surging inbound tourism will help boost Australia’s hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.

Occupancy 52

Occupancy Tourism Forecasting Market 52

Hotel Business

AUGUST 15, 2024

CBRE is reducing its forecast for U.S. year-over-year growth in the first half, driven by international tourism and election-related events. year-over-year growth in the first half, driven by international tourism and election-related events. CBRE forecasts GDP growth of 2.3% and a 10-basis point increase in occupancy.

Forecasting 59

Forecasting Construction Events Occupancy 59

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 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

Hotel News Resource

MAY 2, 2024

Surging inbound tourism will help boost Australia's hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.

Occupancy 45

Occupancy Tourism Forecasting Market 45

eHotelier

NOVEMBER 27, 2022

STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022.

Forecasting 52

Forecasting Average Daily Rate Occupancy Tourism 52

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

Little Hotelier

SEPTEMBER 4, 2024

Domestic tourism definition Domestic tourism’s definition is much the same as domestic travel, except it takes into account only those who are travelling for leisure. Domestic tourism example An example of domestic tourism might be an American family travelling from another state to visit California and stay at Disneyland.

Tourism 98

Tourism Travel Business Marketing 98

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 40

Forecasting Occupancy Revenue Management Revenue 40

Hotel News Resource

AUGUST 11, 2023

percentage points, due to a 0.6ppt downgrade in occupancy growth. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy. For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024.

Average Daily Rate 52

Average Daily Rate Forecasting Occupancy Tourism 52

Hotel Management

AUGUST 8, 2024

First launched in September 2019, Crossroads Maldives is one of the most pivotal projects in the history of the Maldivian tourism industry. Just four months after its initial soft-opening, SO/ Maldives reached an occupancy of almost 60% in February, and expected average daily rates (ADR) in the region of US$750-$850 for 2024.

Resorts 130

Resorts Average Daily Rate Retail Forecasting 130

Boutique Hotel News

MAY 4, 2023

UK: The UK’s travel and tourism sector is expected to see a boost of more than £200 million as a result of King Charles III’s Coronation weekend [6-8 May] and fortnight around those dates, as consumers travel across the country to celebrate with friends and millions across the UK make the journey to London to catch a glimpse of the historic event.

Tourism 52

Tourism Consumer Average Daily Rate Occupancy 52

Little Hotelier

OCTOBER 17, 2024

Sales and revenue-related tax documents: VAT/GST/sales tax returns , documents on hotel/room occupancy taxes , tourism levies, merchant transaction reports for card payments. Financial planning and forecasting The key to financial planning and forecasting? mortgage or loan interest statements.

Average Daily Rate 93

Average Daily Rate Revenue Hotels Occupancy 93

Inn Quest

MARCH 23, 2023

The contribution to GDP of the tourism industry on the whole is currently 1.6% (Statista). Other figures from Statista are as follows: Australia’s hotel segment specifically is forecasted to see revenues of US $6.75 According to Tourism Australia, there were 2.2 billion and is expected to grow by 13.3% in 2023 (IBISWorld).

Forecasting 52

Forecasting Tourism Average Daily Rate Hotels 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

Catala Consulting

SEPTEMBER 26, 2024

From managing room availability to forecasting demand and optimizing prices, revenue management is crucial to ensuring that a hotel operates profitably. By adjusting room rates based on these insights, they help hotels maintain high occupancy rates without sacrificing profitability.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hotelogix

AUGUST 6, 2024

Utilize data analytics to forecast demand accurately and adjust prices in real-time. Building solid partnerships: Collaborate with local businesses and tourism boards for mutual referrals. Targeted marketing campaigns: Run campaigns during off-peak periods to boost occupancy. Read Also: What is Dynamic Pricing in Hotels?

Revenue 52

Revenue Management Upsell Target Marketing 52

Hotel Business

MAY 24, 2023

The Middle East has become one the world’s fastest-growing tourism destinations—hosting major cultural, religious and sporting events, which has helped propel demand and occupancy throughout the region. LE is forecasting a total of 133 new hotel projects/31,573 rooms to open in 2023 and another 123 hotels/30,430 rooms to open in 2024.

Construction 52

Construction Pipeline Closing Branding 52

Hotel Business

OCTOBER 27, 2023

The underlying dynamics observed in previous quarters remained constant, with ADR still high and a marked improvement in the occupancy rate, which slightly lags the level of 2019. For full-year 2023, the group is confirming its forecast of net unit growth in the network between 2% and 3%. million), up 17% LFL versus Q3 2022.

Revenue 72

Revenue Occupancy Services Management 72

Cloudbeds

MARCH 23, 2023

Why eCommerce is important for lodging operators According to Statista , 69% of total revenue from the global travel and tourism market is booked online, representing approximately $475 billion in revenue in 2022 and forecasted to surpass $521 billion in 2023. Keep online listings current and consistent.

OTA 98

OTA Digital Marketing Marketing Market 98

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. Many of the markets with the strongest pipelines are working to revamp/expand their tourism sectors. Most regions are performing well year-to-date (YTD),” says Fenerty. million people.

Tourism 52

Tourism Pipeline Hotels Marketing 52

eZee Absolute

NOVEMBER 1, 2022

Statista ) In 2022, the global hotel and resort industry market was forecast to reach $1.06 Room revenue is expected to reach $168 billion and occupancy is projected to be 63.4%. AHLA ) In 2022, the global travel and tourism revenue will reach over $600 million. The global hotel industry was valued at US$ 628.4 Statista ).

Hospitality 52

Hospitality Revenue Management Revenue Travel 52

Amadeus Hospitality

DECEMBER 20, 2022

Not only has traveler confidence returned, but this past spring, global hotel occupancy reached pre-pandemic levels for the first time since 2019. To RevenueStrategy360™ , we added a first of its kind market forecasting model. Read case studies from tourism organizations in Hungary , Canary Islands , Houston, TX , and Tenerife.

Shopping 52

Shopping Services Marketing Market 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

SiteMinder

NOVEMBER 30, 2023

Travel statistics refer to data and information related to various aspects of the travel industry, such as travel trends, traveller behaviour, tourism spending, accommodation metrics, and more. Family travel makes up 30% of global outbound tourism trips. The US tourism sector is worth almost $8 billion.

Travel 52

Travel Accommodation Tourism Hotels 52

SiteMinder

AUGUST 1, 2024

Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Research the current and projected demand for hotels in your location, taking into account factors such as population growth, tourism trends, and economic activity.

Business 52

Business Revenue Hotels Occupancy 52

Cloudbeds

NOVEMBER 13, 2024

On Air with Russell of Hotels Hosted by Russell Edmond, On Air discusses hospitality trends and marketing strategies and features interviews with industry professionals from hotels, tourism bureaus, food & travel influencers, and more. Topics range from travel technology to hospitality and tourism developments. Who’s it for?

Hospitality 52

Hospitality Events Hotel Marketing Marketing 52

Hotelier Magazine

AUGUST 16, 2023

STR and Tourism Economics lowered their year-over-year growth projections in the revised 2023-24 U.S. hotel forecast presented at the recent 15th annual Hotel Data Conference. per-cent downgrade in occupancy growth. per-cent downgrade in occupancy. The post STR and Tourism Economics Lower Growth Forecast for U.S.

Forecasting 52

Forecasting Tourism Average Daily Rate Occupancy 52

SiteMinder

SEPTEMBER 12, 2023

The benefit of being able to more accurately forecast occupancy patterns when you have a contract with a wholesaler, and you can be certain to always generate a specific volume of business and be paid in advance. Who are the largest hotel wholesalers?

Travel 52

Travel Hotels B2B OTA 52

Hotelier Magazine

NOVEMBER 26, 2024

October’s occupancy rate was 68.5 The rise in occupancy was mainly driven by transient and week-day occupancy, indicating an influx of individual business travellers. Among the provinces and territories, Nova Scotia reported the highest occupancy level at 74.7 Toronto topped the major markets with an occupancy rate of 79.6

Average Daily Rate 52

Average Daily Rate Occupancy Forecasting Tourism 52

Amadeus Hospitality

JANUARY 23, 2024

Air capacity is well over 100% of 2023 volumes across all regions, demonstrating increased opportunities for travel January 24, 2024 – A new report released today by Amadeus in collaboration with UN Tourism shows a positive trend for air travel and hospitality in the Americas at the start of 2024.

Tourism 80

Tourism Travel Occupancy Marketing 80

Amadeus Hospitality

APRIL 30, 2024

Data shows strong growth, especially in the Caribbean and Central America April 30, 2024 – Demand for travel to destinations across the Americas is on the rise, a new report released today by Amadeus in collaboration with UN Tourism shows. UN Tourism data shows that an estimated 1.3 The full report is now available to download. [1]

Tourism 100

Tourism Occupancy Travel Marketing 100