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.

Market 52

Market Marketing 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.

Market 52

Market Marketing Occupancy Business 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

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 52

Shopping Revenue Average Daily Rate Revenue Management 52

Cloudbeds

SEPTEMBER 18, 2024

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.

Operations 40

Operations Revenue Management Occupancy Revenue 40

Bookassist

NOVEMBER 4, 2022

[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. But we also see that there is still a lot to be done in this area when it comes to the Polish market compared to our other markets.

Market 52

Market Marketing Management Sales 52

Xotels

AUGUST 15, 2022

Unfortunately, the average occupancy per person per room was actually 20% lower than normal, which made it impossible to reach the total revenue target, because the average room rate was totally off. Capturing more market share, or penetrating new markets was just not in their mindset. Hold on, it gets even funnier.

Market 59

Market Marketing Hotels ROI 59

Travel Media Group

SEPTEMBER 6, 2023

This is when our hotels get the most stressed, as far as, you know, occupancy coming in and could uncover, we’ve talked about it before, could uncover some patterns and trends that might have been issues in the slower season, but now have become bigger problems in the summer. We’re gonna express, you know, maybe why that is.

Travel 98

Travel Services Marketing Market 98

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 Market Marketing ROI 40

Catala Consulting

AUGUST 30, 2022

A few metrics to include in your SWOT analysis include: Average daily rate Sales circle length Event Activity Web traffic percentage of direct bookings Percentage of occupancy Revenue per available room Customer feedback, comments on social media, online reviews, and feedback.

Hotels 52

Hotels Average Daily Rate Business Revenue 52

SiteMinder

FEBRUARY 8, 2024

Appealing to the Chinese travel market means you can enjoy the benefits of: Significant market size : China boasts one of the largest outbound tourism markets in the world. By tapping into this demographic, hotels can access a vast pool of potential guests, increasing occupancy rates and revenue.

Market 52

Market Marketing Travel Tourism 52

Travel Media Group

JULY 19, 2023

We are also working to really focus on demand generation and capturing demand and occupancy as it sort of stabilizes and resets to a degree. So for example, you know, we may have some hotels that summertime is their peak travel time and it’s their peak occupancy months. That was a huge initiative for us back in April.

Hospitality 97

Hospitality Marketing Market Business 97

MediaBoom

AUGUST 6, 2024

A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and market share. People have a high level of faith in OTAs. Key metrics to track include brand awareness , guest satisfaction , social media engagement , and revenue-related KPIs like average daily rate (ADR) and occupancy rate.

Branding 92

Branding Hotels Services Marketing 92

Xotels

APRIL 3, 2024

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 hotel market is intricately segmented, accommodating diverse customer groups, including groups and promotional segments.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Travel Media Group

MARCH 1, 2023

We’re always looking ahead as hoteliers, what’s the next occupancy driver in our market? Where do we need occupancy? They’re looking for opportunity to capture more market share. They might have done that hotel marketing strategy that you talked about at the end of the year.

Hotels 59

Hotels Marketing Market Travel 59

Travel Media Group

JANUARY 16, 2024

Uh, so from a priority standpoint, it’s always staying focused on revenue enhancement with the primary measure being, you know, market share changes, right? Charles Oswald: It was Brighter Minds, marketing minds than mine. Then our customer experience, our profit management, and our team member engagement.

Hospitality 52

Hospitality Digital Marketing Management Marketing 52

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. Online travel agencies (OTAs) have returned stronger than ever. In 2023, OTAs generated 60.5%

Average Daily Rate 90

Average Daily Rate OTA Overbooking Travel 90

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. Online travel agencies (OTAs) have returned stronger than ever. In 2023, OTAs generated 60.5%

Average Daily Rate 52

Average Daily Rate OTA Overbooking Travel 52