Hospitality Net

MAY 28, 2024

For some hoteliers, a Revenue Management System (RMS) seems like the ticket to higher occupancy and room rates. 1) Rule-based RMS: this type can be used by anyone without experience in revenue management as it trivializes the discipline, so this one doesn’t r. Get the software, input some data and away you go.

Revenue Management 244

Revenue Management Revenue Management Cancellation 244

Hotelier Magazine

SEPTEMBER 26, 2024

WASHINGTON — Canada’s hotel industry recorded its highest occupancy level for any month since August 2018, according to CoStar’s August 2024 data. August 2024 (percentage change from 2023) Occupancy: 79.7 per cent) Revenue Per Available Room (RevPAR): $187.93 (up 6.8 August 2024 (percentage change from 2023) Occupancy: 79.7

Occupancy 59

Occupancy Average Daily Rate Hotels Revenue 59

Hospitality Net

JANUARY 25, 2024

Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “Index”).

Average Daily Rate 245

Average Daily Rate Business Hospitality Occupancy 245

Hospitality Net

NOVEMBER 4, 2024

revenue per available room (RevPAR) grew 9.3% year over year on nearly equal gains in occupancy and average daily rate (ADR). Occupancy reached 69%, up 3 percentage points (ppts), and ADR increased 4.6%. The occupancy gain was the largest since earlier this year with 82% of the 171 STR-defined U.S.

Average Daily Rate 241

Average Daily Rate Occupancy Revenue Marketing 241

Xotels

MAY 30, 2024

Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. Occupancy or ADR?

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Hotel Speak

JUNE 4, 2024

Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. Which is it?

Revenue Management 47

Revenue Management Occupancy Revenue Average Daily Rate 47

Hospitality Net

JUNE 18, 2024

The Average Daily Rate (ADR) and Revenue Per Available room (RevPAR) growth for the greater U.S. hospitality market was nearly flat in Q1 2024, increasing by 2.6% Occupancy rates trended downward, decreasing by 1.1% respectively. when compared to the same period a year prior.

Average Daily Rate 147

Average Daily Rate Hospitality Branding Occupancy 147

Hospitality Net

NOVEMBER 20, 2024

elections paused the healthy gains in revenue per available room (RevPAR) seen over the previous four weeks. RevPAR dropped 3.5% (all comparisons are year-over-year unless otherwise noted) entirely due to occupancy down 2.3 percentage points (ppts) with average daily rate (ADR) basically flat (-0.1%). and -13.7%, respectively.

Average Daily Rate 230

Average Daily Rate Occupancy Revenue 230

Hospitality Net

MAY 1, 2023

STR’s global “bubble chart” update through 15 April 2023 shows continued improvement in the Asia Pacific region and more than half of global markets with better than 20% growth in revenue per available room (RevPAR) versus 2019.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Market 239

Hospitality Net

MAY 31, 2023

STR’s global "bubble chart" update through 20 May 2023 shows 85% of markets with growth in revenue per available room (RevPAR) compared to 2019. More notably, however, the gains included a more significant contribution from occupancy growth, as half of all markets surpassed their 2019 comparables.

Occupancy 130

Occupancy Revenue Market Marketing 130

Hospitality Net

DECEMBER 12, 2023

Jakarta hotels recorded their highest levels in occupancy and revenue per available room (RevPAR) since November 2011 and November 2013, respectively, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Occupancy 100

Occupancy Real Estate Revenue Hotels 100

Hospitality Net

OCTOBER 18, 2023

Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index. The third quarter of this year shows the top 25 U.S.

Average Daily Rate 239

Average Daily Rate Business Hospitality Occupancy 239

STAAH

AUGUST 11, 2024

And the good news gets better with share of direct bookings growing by 40% – 60% for this luxury Indian hospitality group. STAAH came recommended by hospitality professionals and had a strong track record spanning more than a decade, supporting hospitality businesses across the world in their growth ambitions.

Occupancy 90

Occupancy Revenue Cancellation Services 90

Hotel Management

MARCH 30, 2023

Marriott International, the preferred accommodation partner for the event, has reported high-level bookings over the next two weeks, with their eleven Melbourne hotels at 100% occupancy on April 1 – an incredible feat for its newly opened hotels, Le Méridien Melbourne and The Ritz-Carlton Melbourne.

Occupancy 130

Occupancy Events General Manager Hotels 130

Hospitality Net

NOVEMBER 10, 2024

hotels produced healthy growth in revenue per available room (RevPAR) for a fourth week in a row. The metric was up 3.1% (all comparisons are year-over-year unless otherwise noted) on equal gains in occupancy and average daily rate (ADR). election.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Travel 246

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 186

Revenue Management Revenue Management Forecasting 186

Hotelier Magazine

MAY 28, 2024

WASHINGTON — After four consecutive months of year-over-year declines, Canada’s hotel industry reported an increase in occupancy, according to CoStar’s April 2024 data. April 2024 (percentage change from 2023): Occupancy: 64 per cent (up 2.7 April 2024 (percentage change from 2023): Occupancy: 64 per cent (up 2.7 per cent to 60.9

Occupancy 52

Occupancy Average Daily Rate Hotels Consumer 52

Refine

FEBRUARY 8, 2024

As the hospitality sector undergoes swift transformations, prioritizing convenience and tailored experiences for all travelers, the pivotal role played by Internet Booking Engines (IBEs) becomes undeniably vital.

Revenue 119

Revenue Occupancy Operations Travel 119

Hospitality Net

AUGUST 26, 2024

The rate of growth in occupancy, average daily rate (“ADR”) and revenue per available room (“RevPAR”), while robust, continued to decelerate. Luxury hotel occupancy benefitted from increased demand, while ADR growth levels for lower priced properties continued to show significant improvements. percent while Q2 increased 6.8

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotel Marketing 246

Hospitality Net

OCTOBER 28, 2024

revenue per available room (RevPAR) advanced 4.2% percentage point (ppt) increase in occupancy. In the week ending 19 October 2024, U.S. growth in average daily rate (ADR) and a 1.1

Average Daily Rate 263

Average Daily Rate Scale Occupancy Revenue 263

Hospitality Net

AUGUST 11, 2023

S Hotels and Resorts PCL (SET: SHR), the global hospitality company from Singha Estate PCL (SET: S), announced accelerating total revenue from services of THB 4,821 million (+28% YoY), and jumping adjusted EBITDA of THB 1,112 million (+74% YoY) for the first half of 2023.

Average Daily Rate 180

Average Daily Rate Revenue Resorts Occupancy 180

Hospitality Net

APRIL 20, 2023

Hotels achieved 5% higher revenues in the summer season than in 2019, primarily due to higher ADR. Occupancy reached 79%, 25% above the 2021 season but still 9% below 2019.

Market 228

Market Marketing Occupancy Hospitality 228

Hotel Management

MARCH 25, 2024

The company will become involved in the design of a new AI training course for ARMA members which has been proposed for ARMA’s 2024 curriculum to take advantage of the enormous groundswell of interest in AI and how it can benefit all types of businesses in the hospitality sector and beyond.

Revenue Management 130

Revenue Management Revenue Yield Management Management 130

Hospitality Net

OCTOBER 14, 2024

Revenue per available room (RevPAR) dropped 7.7% and occupancy falling 2.3 On the heels of strong gains the previous week, U.S. hotel performance for the period ending 5 October 2024 showed the effects of Rosh Hashanah and Columbus Day/Indigenous Peoples Day calendar shifts as well as the impact of Hurricane Helene.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Catala Consulting

OCTOBER 7, 2024

In today’s rapidly evolving hospitality industry, the challenge of maximising revenue has become more complex than ever. One key strategy emerging as a game-changer is data-driven revenue management. This strategy helps maximise revenue without sacrificing occupancy.

Revenue Management 52

Revenue Management Revenue Management Occupancy 52

Cloudbeds

OCTOBER 9, 2024

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. For instance, businesses may forecast sales or total revenue to guide their strategic planning and resource allocation.

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

Hospitality Net

NOVEMBER 17, 2023

billion of revenue in the first nine months of 2023, up 28.1% Strong demand drove occupancy up to 68%, while average daily rate (ADR) climbed further to €137 in 9M23, marking growth of 14.4% As a result, revenue per available room (RevPAR) averaged €93, up 30% from the 9M22 and 9M19 figures of €72 and €73, respectively.

Average Daily Rate 189

Average Daily Rate Revenue Occupancy Hotels 189

Hospitality Net

OCTOBER 7, 2024

hotel revenue per available room (RevPAR) rose 3.9% After two months of declines, occupancy improved by 1ppt to 66.9%, which was 4.1ppts below August 2019. year over year (YoY) in August, following a lackluster July. Growth was driven by average daily rate (ADR), which increased 2.3%.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hotel Speak

OCTOBER 3, 2024

We recently had the pleasure of joining over 1,100 hospitality industry leaders at The Annual Hospitality Conference , held in Manchester at the impressive Central Convention Complex. These political unknowns, and their impact upon UK hospitality, were a theme echoed throughout both days of the show.

Hospitality 116

Hospitality Average Daily Rate Occupancy Intent 116

SiteMinder

JUNE 26, 2024

What is revenue optimization? Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. Table of contents Why is hotel revenue optimization important? Our smart hotel platform helps you do exactly that.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

Hospitality Net

MAY 13, 2024

Revenue per available room (RevPAR) increased 0.5% year over year (YoY) as average daily rate (ADR) showed a slight increase (+1.3%) but was offset by an occupancy decline of 0.5 and occupancy down 0.2%. hotels saw surprisingly modest performance this week following the previous down week during Passover.

Average Daily Rate 246

Average Daily Rate Occupancy Revenue Hotels 246

Hotelogix

NOVEMBER 7, 2024

In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success. The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. Implement Dynamic Pricing for Optimal Revenue What is Dynamic Pricing?

Hotel Sales 52

Hotel Sales Revenue Sales OTA 52

Hotelier Magazine

APRIL 25, 2023

In comparison to the same week in 2022, occupancy came in at 64.2 per cent); and Revenue Per Available Room (RevPAR) came in at US$99.67 (up 8.6 Among the top 25 markets, Minneapolis saw the highest YOY increase in occupancy (up 17.4 Hotels Report Increase in Occupancy, says STR appeared first on Hotelier Magazine.

Occupancy 64

Occupancy Average Daily Rate Hotels Revenue 64

Hotel Business

JANUARY 29, 2024

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. billion in state and local tax revenue in 2024, up from nearly $52.4 Average hotel occupancy is expected to reach nearly 63.6%

Revenue 118

Revenue Occupancy Retail Forecasting 118

Hospitality Net

SEPTEMBER 9, 2024

revenue per available room (RevPAR) increased for the seventh consecutive week, boosted by both average daily rate (ADR) and occupancy. In the week ending 31 August 2024, U.S. Group demand in luxury and upscale hotels rose for the seventh straight week as well.

Average Daily Rate 244

Average Daily Rate Scale Occupancy Revenue 244

Hotelogix

NOVEMBER 3, 2023

The hospitality sector relies on people more than technology to deliver a positive guest experience and set the standards of service. Some countries depend largely on tourism and hospitality as the catalyst for their economic growth and development. So, here are 5 tips to improve your interactions with your guests and boost revenue: 1.

Revenue 93

Revenue Hospitality Services Tourism 93

Hotel Speak

AUGUST 13, 2024

A robust sales distribution strategy is indispensable for hotels striving to maximise revenue and drive direct bookings. Therefore, ensuring it’s easy for guests to book, whether direct or through third parties, is paramount to fulfilling a successful occupancy strategy and higher Average Daily Rate (ADR) goal.

Revenue 86

Revenue Sales OTA Average Daily Rate 86