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An improvement in economic conditions is on the horizon with leisure and business tourism set to benefit, according to CBRE Director – Hotels and Leisure, Peter Hamilton. Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotelmarkets from early 2024.
Let's explore how market segmentation can become your hotel's greatest competitive advantage through five essential aspects: Understanding the basics Identifying profitable segments Customizing services Implementing targeting strategies Measuring success.
Host Ryan Embree discusses how hotels can position themselves to capture marketshare and secure bookings from both engaged couples and wedding guests. Suite Spot Podcast · 95 - How to Attract Weddings to Your Hotel Episode Transcript Our podcast is produced as an audio resource. Listen now! I'm your host, Ryan Embree.
By Nicole Di Tomasso According to Avison Young’s Canada HotelMarket Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as Average Daily Rate (ADR), Revenue Per Available Room (RevPAR) and occupancy. per cent (up 7.7
This also reflects how much a hotel can charge for its rooms and how successful it is at selling the inventory which is available. Occupancy Rate This term known as occupancy rate is used to express a percentage of rooms which are occupied for a particular period of time.
Hotel distribution has always been a critical aspect of the hospitality industry. Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management.
For hotels, that involves collecting and analyzing data across various sources, including your hotel website, social media channels, online travel agencies (OTAs), surveys, and more. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotelmarketing. Stuff like that is when your occupancy reaches a hundred percent mark or, or it starts to approach that you are utilizing your entire facility at a degree that you probably weren’t before. So right on.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what’s trending in hotelmarketing. We talked about this on this podcast about how to attract Gen Z and how to capture marketshare from Gen Z travelers. You’re certainly gonna put yourself in the best position to capture occupancy.
In this particular case, the hotel’s management was under the impression the hotel was performing on target as the correct average rate per person was achieved. Capturing more marketshare, or penetrating new markets was just not in their mindset. Hold on, it gets even funnier.
Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair marketshare: with more hotels forecasted to open every year , gaining a fair marketshare will become more difficul t each year.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check out what’s trending in hotelmarketing. This is Travel Media Group Marketing Director and host of the Suite Spot, Ryan Embree. It’s not a one size fits all approach for our hotels. I’m your host, Ryan Embree.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check-out what’s trending in hotelmarketing. Why did you and your team decide to make this upgrade and, and create video content for hotels? We’re always looking ahead as hoteliers, what’s the next occupancy driver in our market?
[Joanna] Despite hoteliers’ concerns at the start of the year, the number of bookings and occupancy rates during this summer in Poland were actually at a reasonable level. We really work the data daily, and Bookassist Intelligence gives our hotels real dynamic information to drive conversions and performance.
It encompasses everything from the hotel’s name, logo, and tagline to its overall atmosphere, service, and guest experience. A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and marketshare. While branding builds a strong foundation, marketing brings in the customers.
To check the effectiveness of your USP, you’ll want to track key performance indicators (KPIs) such as: Occupancy Rates : See if more rooms are getting booked. Are guests interested in your Unique Hotel Amenities or Hotel Signature Services? If your USP is a hit, you’ll see your hotel outshining the competition.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what’s trending in hotelmarketing. Not only on the occupancy side business and business travel to pick up on that sector, which is really lagging behind leisure, but to also come face-to-face with our hoteliers that we haven’t seen.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check out what’s trending in hotelmarketing. So a lot of opportunity out there for occupancy for sure. How do you reach travelers digitally and make sure you’re in the best position to capture more marketshare?
Ryan Embree: Welcome to the Suite Spot where hoteliers check in and we check out what’s trending in hotelmarketing. And they were trying to maybe steal some of that marketshare. Number three was episode 80, how to market your hotel’s new renovations. I’m your host, Ryan Embree.
According to Statista research , revenue in the Travel & Tourism market is projected to reach US$184.50bn in 2024. Meanwhile, the largest Travel & Tourism market is the Hotelsmarket with a projected market volume of US$93.62bn in 2024.
Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair marketshare: with more hotels forecasted to open every year , gaining a fair marketshare will become more difficul t each year.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what’s trending in hotelmarketing. But at the same time, we continue to see that we have not scaled back in occupancy and what the premium that people will place on a great experience if you’re willing and able to deliver it.
Advance Sales: The hotel product, represented by rooms, can be sold in advance, enabling revenue managers to strategically plan and optimize occupancy levels over time. Market Segmentation: The hotelmarket is intricately segmented, accommodating diverse customer groups, including groups and promotional segments.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotelmarketing. Uh, so from a priority standpoint, it’s always staying focused on revenue enhancement with the primary measure being, you know, marketshare changes, right? I’m your host, Ryan Embree.
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