Boutique Hotel News

MARCH 24, 2023

Boutique hotel groupings averaged 58 to 65 per cent occupancy in 2022. This is compared to all US hotels at 63 per cent occupancy. Whilst occupancy levels have not fully returned to 2019 levels, strong rate increases compared to the previous year have enabled most class groups to achieve RevPAR recovery. .

Occupancy 98

Occupancy Hotels Market Share Revenue 98

Hotel Management

JANUARY 16, 2024

We do see a lot of Aussies travelling domestically and flying internationally and then quite a few corporates coming in as well domestically, but certainly our international market share has been increasing from day one. We’ve set some high goals in terms of our occupancy level, and we continue to ramp up.

Market 147

Market Marketing Occupancy Hotels 147

Cloudbeds

JULY 4, 2024

This index can vary according to the business strategy, and factors impacting it include the average daily rate (ADR) , occupancy rate, quality of services offered, marketing strategies, reputation, and more. Calculate your property’s ADR, RevPAR, and occupancy rate. How is ARI calculated?

Market Penetration 72

Market Penetration Management Market Share Occupancy 72

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

Little Hotelier

AUGUST 12, 2024

When you have lower operating costs, you can more comfortably offer more competitive rates, winning business and growing your market share. Maximising ADR helps a hotel increase revenue without needing to increase occupancy. Creating an efficient hotel is simply good business.

Average Daily Rate 95

Average Daily Rate Revenue Occupancy Operations 95

Hotel Speak

FEBRUARY 26, 2024

Key findings from the report include: Occupancy patterns are projected to remain consistent in 2024. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 110

Average Daily Rate OTA Overbooking Travel 110

Hotel Business

JANUARY 9, 2023

2022 has been a successful one for the hospitality industry, with hotel room occupancy surging near the record-high 2019 levels. We expect it will continue to be a main driver in the market heading into 2023, particularly as demand for these accommodations soars and labor remains expensive and in short supply. By Shilpan Patel.

Services 116

Services Revenue Occupancy Travel 116

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. billion in 2024 to $1,932.73

Market 104

Market Marketing Hotels Forecasting 104

Hotel Business

MARCH 6, 2023

Rate Insight+ offers hoteliers a comprehensive view of competitive short-term rental and hotel pricing in their specific market, providing crucial data to enable better pricing decisions based on demand, occupancy, and rates in their market, according to the company.

OTA 59

OTA Market Share Occupancy Marketing 59

Cloudbeds

OCTOBER 9, 2024

In addition to revenue, forecasts often include projections for important metrics like average daily rate (ADR), occupancy rates, and the contribution share from different segments such as transient, corporate, and group bookings. These trends can impact room rates, ancillary revenue, and overall occupancy patterns.

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

SiteMinder

AUGUST 1, 2024

Rate shopping your hotel competitor rates gives you the opportunity to: Optimise pricing: Understanding competitor pricing helps you set competitive rates, maximising revenue without sacrificing occupancy. Identify pricing gaps: You’ll be able to spot chances to increase rates without losing market share.

Shopping 78

Shopping Revenue Average Daily Rate Revenue Management 78

Hotel Business

AUGUST 9, 2023

“Our team is united in our focus on finding the right business, at the right time, at the right price point while continuing to shift market share away from our competition and providing service that is realizing strong customer retention,” said Fraser.

Market Share 52

Market Share Revenue Occupancy Hotels 52

Hotelogix

AUGUST 6, 2024

Increasing your Hotel's Market Share Growing your market share requires strategic marketing and distribution efforts. Strategic marketing and distribution: Optimize your presence across all distribution/sales channels. Utilize data analytics to forecast demand accurately and adjust prices in real-time.

Revenue 52

Revenue Management Upsell Target Marketing 52

Amadeus Hospitality

FEBRUARY 28, 2023

The access to forward-looking insights from Amadeus’ Demand360 solution will offer the opportunity to shift market share and grow Ascott’s business.

Business 57

Business Occupancy Revenue Market Share 57

Cloudbeds

MARCH 21, 2024

The findings suggest hostels are outpacing other accommodations in terms of occupancy rates, while average daily rates (ADR) for private rooms have grown globally. Cloudbeds’ newly launched State of Hostels report reveals 2024 will be the year of chasing demand for hostels.

Average Daily Rate 52

Average Daily Rate Occupancy Accommodation Travel 52

Hotel Business

OCTOBER 26, 2023

Our economy brands gained market share domestically amidst a backdrop of normalizing U.S. leisure demand, and international occupancy continued to recover. economy brands gained market share of 100 basis points in the third quarter. The company’s U.S.

Pipeline 64

Pipeline Market Share Branding Revenue 64

Hotelier Magazine

MAY 16, 2023

WASHINGTON — CoStar Group has launched STR Benchmarking, a transformational market share product for the global hotel industry. Future product enhancements, which are expected to begin rolling out later this year, include portfolio-level benchmarking, monthly P&L, average-length-of-stay data and forward-looking occupancy.

Average Length of Stay 52

Average Length of Stay Market Share Scale Occupancy 52

Travel Media Group

MARCH 16, 2022

Host Ryan Embree discusses how hotels can position themselves to capture market share and secure bookings from both engaged couples and wedding guests. And it's having a huge impact on occupancy. And that means a lot of occupancy opportunity. Listen now! million weddings in 2022. Listen now!

Digital Marketing 52

Digital Marketing Market Share Hotels Occupancy 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.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Hotelier Magazine

JULY 9, 2024

By Nicole Di Tomasso According to Avison Young’s Canada Hotel Market 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. In comparison to 2022, occupancy was 65.7

Average Daily Rate 52

Average Daily Rate Occupancy Pipeline Hotels 52

TravelNet

APRIL 25, 2024

Supply growth in 2021 and 2022 had a significant negative impact on 2023 occupancy. The decline in occupancy since 2021 appears to have leveled out. 2024 is shaping up to be a market-correction year: Inflation is expected to decline further and is currently outpaced by wage growth. Aggregate ADR was lower than the previous year.

Marketing 52

Marketing Market Occupancy Business 52

TravelNet

APRIL 25, 2024

Supply growth in 2021 and 2022 had a significant negative impact on 2023 occupancy. The decline in occupancy since 2021 appears to have leveled out. 2024 is shaping up to be a market-correction year: Inflation is expected to decline further and is currently outpaced by wage growth. Aggregate ADR was lower than the previous year.

Marketing 52

Marketing Market Occupancy Business 52

TravelNet

APRIL 25, 2024

Supply growth in 2021 and 2022 had a significant negative impact on 2023 occupancy. The decline in occupancy since 2021 appears to have leveled out. 2024 is shaping up to be a market-correction year: Inflation is expected to decline further and is currently outpaced by wage growth. Aggregate ADR was lower than the previous year.

Marketing 52

Marketing Market Occupancy Business 52

Hotelogix

OCTOBER 14, 2023

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. The occupancy rate is found out by dividing the number of occupied rooms with the total available rooms. The rate of occupancy is crucial to plan the operations of the hotel business.

KPI 52

KPI Average Length of Stay Average Daily Rate Occupancy 52

STAAH

JULY 8, 2024

Accommodation providers can navigate these by leveraging online bookings and digital marketing strategies. Here’s a comprehensive guide to help accommodation providers optimize their efforts and maintain steady occupancy rates during economic downturns.

Digital Marketing 52

Digital Marketing Accommodation Market Marketing 52

Hotelogix

NOVEMBER 28, 2024

  Understanding Market Segmentation Basics Types of Hotel Market Segments The hotel industry typically divides guests into distinct categories based on their characteristics and needs: Business Travelers Leisure Travelers Group Bookings Extended Stay Guests Special Event Attendees Benefits of Targeted Marketing Benefit Impact Increased ROI Higher (..)

Hotel Marketing 40

Hotel Marketing Marketing Market ROI 40

Hotel Speak

JULY 24, 2024

Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. Hotel distribution has always been a critical aspect of the hospitality industry.

OTA 101

OTA Hotels Revenue Marketing 101

Hotelier Magazine

APRIL 4, 2024

CBRE’s Canadian Hotel Industry Outlook Report (Q3 2023) projects strong and stable occupancy and Revenue Per Available Room (RevPAR) growth for the Canadian hotel industry through to 2027. Occupancy is projected to remain at a profitable 66 to 68 per cent, with RevPAR growing to $140 by 2027.

Operations 40

Operations Real Estate Average Daily Rate Occupancy 40

Amadeus Hospitality

MAY 7, 2023

We look forward to further online visibility in the marketplace and using the latest tech tools to drive market share.” Scott Falconer, Executive Vice President, Media Solutions, Hospitality, Amadeus , said, “We are proud to announce the extension of a partnership that has already proven to be successful.

Market Share 52

Market Share Marketing Market Travel 52

Cloudbeds

FEBRUARY 26, 2024

Key findings from the report include: Occupancy patterns are projected to remain consistent in 2024. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 52

Average Daily Rate OTA Overbooking Travel 52

Cloudbeds

SEPTEMBER 18, 2024

This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Basic KPIs include average daily rate (ADR) , occupancy (OCC), revenue per available room (RevPAR), and average length of stay (ALOS). Revenue management KPIs. Food & beverage KPIs.

Operations 40

Operations Revenue Management Occupancy Revenue 40

Amadeus Hospitality

JUNE 27, 2023

The insights provide a clear snapshot of hotel occupancy and booking trends, along with information on which sectors are meeting, group size, and the size of their meeting space. Our ultimate goal is to give hoteliers and DMO/CVBs all the tools they need to develop strong marketing and revenue strategies to increase their market share.”

Business 52

Business Hospitality Events Average Daily Rate 52

Xotels

AUGUST 9, 2021

Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing. From Hotel Finder to GHA.

Market Share 52

Market Share Hotels OTA Cancellation 52

Hotel Business

AUGUST 8, 2023

.” H1 highlights include: Americas H1 RevPAR up +11% YOY, EMEAA +42% and Greater China +94%, reflecting the differing levels of travel restrictions that were still in place in H1 2022 ADR up +7% vs. 2022, +11% vs 2019; occupancy up +9% pts vs 2022, just 1.3% pts lower vs. 2019 Gross system growth +6.3%

Branding 98

Branding Pipeline Scale Resorts 98

Boutique Hotel News

APRIL 18, 2023

AI can help analyse data in real time and factor in a wide range of variables such as occupancy rates, weather, time of year, the impact of major events and more – and adjust prices accordingly to maximise occupancy rates. Perhaps that could be a revenue management solution to increase occupancy rates and optimise revenue.

Hospitality 52

Hospitality Revenue Management Occupancy Revenue 52

Hotelier Magazine

OCTOBER 10, 2024

“These regions offer strong growth potential due to their economic diversity, thriving tourism sectors and strategic importance in both domestic and international travel markets. From a market share perspective, HE Canada is running over 110 RPI YTD in 2024. per cent to three per cent in 2025.

Hotels 52

Hotels Marketing Market Services 52

Xotels

APRIL 3, 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 market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76