Hospitality Net

OCTOBER 10, 2024

In this episode, we look at where there is potential to drive more revenue in hospitality and accommodation businesses when the ADR has been maximised, other than occupancy - how can hotels increase spend per guest?

Revenue 188

Revenue Hospitality Occupancy Marketing 188

Hospitality Net

JUNE 13, 2024

Meanwhile, the revenue management team is diligently fine-tuning pricing strategies to optimize profits. That is until occupancy rates falter or revenues don’t meet expectations, then the fingers begin to point. Picture this: Marketing campaigns are in full swing, beautifully crafted, and meticulously executed to entice guests.

Revenue Management 189

Revenue Management Revenue Market Marketing 189

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

Hotel Management

APRIL 22, 2024

During the Santos Tour Down Under, between January 12-21, hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% Over the three-week period of the Adelaide Festival, March1-17, alongside Adelaide Fringe, which ran from February 16 – March 17, hotel occupancy was up 6% yoy to 82.5%.

Occupancy 130

Occupancy Average Daily Rate Events Scale 130

Refine

FEBRUARY 10, 2024

While occupancy is not the only thing influencing the revenue success of a hotel, it's hard to say you're maximizing revenue if your occupancy levels are low. "Heads in beds."

Occupancy 87

Occupancy Revenue Hotels 87

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 Market 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

Horizon Hospitality

JULY 10, 2024

In the competitive world of hospitality, one of the most critical challenges of hotel professionals is balancing room rates with occupancy levels. Dynamic pricing, or yield management, involves adjusting room rates in real-time based on supply and demand, with the ultimate goal being to increase the Revenue Per Available Room ( RevPAR ).

Occupancy 52

Occupancy Revenue Yield Management Forecasting 52

Hotel News Resource

JULY 6, 2023

With occupancy levels lagging during the post-COVID recovery and guest counts depressed, hotel owners and operators have had to look for alternative sources of revenue beyond the rental of guest rooms to make up for the income deficits. parking has become a profitable source of revenue since COVID and helped fill in the revenue gap.

Occupancy 96

Occupancy Revenue Hotels Operations 96

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

Hotel Management

JULY 2, 2024

No need to obsess over RevPAR or lose sleep over ADR – there are much more important metrics out there for revenue managers. Revenue management is not a walk in the park. The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenue managers. Get your copy here.

Revenue Management 130

Revenue Management Revenue Management Hospitality 130

eHotelier

MARCH 21, 2024

Fortunately, price isn’t the only tool available to hoteliers looking to improve their occupancy rate. Here's a look at how to increase hotel occupancy with some tried-and-true approaches and introduce some important considerations to keep in mind when monitoring this common hotel performance metric.

Occupancy 119

Occupancy Hotels Revenue Management Revenue 119

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

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

eHotelier

AUGUST 20, 2023

A hotel sales strategy is a plan of action designed to increase hotel revenue and bookings. It involves identifying target markets, setting sales goals, and creating a plan to achieve those goals.

Hotel Sales 98

Hotel Sales Revenue Occupancy Sales 98

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

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

Lodging

NOVEMBER 15, 2024

5 percent increase in revenue per available room (RevPAR) growth for 2024, down from the previously estimated 1.2 This revision reflects a 40 basis point (bps) decrease in expected occupancy compared to the prior forecast, […] The post CBRE: U.S. CBRE now forecasts a.5 percent in August.

Forecasting 288

Forecasting Occupancy Revenue Hotels 288

Hotel News Resource

AUGUST 5, 2024

In this guide, weÕll revisit the basic fundamentals of revenue management and walk through a step-by-step process to effectively forecast hotel occupancy using real datasets.

Forecasting 75

Forecasting Occupancy Revenue Management Revenue 75

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

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

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

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. Hotels are generating better revenue. Domestic tourism is still going strong.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

Lodging

NOVEMBER 19, 2024

For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Occupancy for the year was lowered 0.1 NASHVILLE—STR and Tourism Economics ​downgraded the growth rate in the final U.S. hotel forecast revision of 2024. percentage points to +1.5 percent and down 0.6 ppts to +1.4

Forecasting 191

Forecasting Average Daily Rate Occupancy Tourism 191

Hotel Business

AUGUST 21, 2023

Boutique hotels continue to report solid occupancies and healthy ADRs, and collectively achieved increases in all performance indicators through June, according to the Boutique Hotels: Mid-Year 2023 report from The Highland Group. At mid-year 2023, boutique hotel occupancy levels indexed ahead of all U.S. hotels at 11%. hotels at 5%.

Occupancy 98

Occupancy Hotels Revenue Branding 98

STAAH

AUGUST 11, 2024

But what was more impressive was the platform’s smart revenue management features. Both the channel manager and booking engine from STAAH are based on dynamic pricing , allowing every property in the group to optimise its rates based on occupancy as opposed to any static or seasonal trends. 30% increase in revenue.

Occupancy 90

Occupancy Revenue Cancellation Services 90

Hotel News Resource

NOVEMBER 1, 2024

decrease in occupancy and a 1.3% drop in Revenue per Available Room (RevPAR) in September 2024 compared to the same month in 2023. hotel industry experienced a 2.5%

Occupancy 45

Occupancy Revenue Hotels 45

STAAH

AUGUST 1, 2023

A hotel sales strategy is a plan of action designed to increase hotel revenue and bookings. Here are 6 hotel sales strategies to increase your revenue. This can help fill rooms that might otherwise go unoccupied and increase revenue. This can attract large groups of guests and increase revenue.

Occupancy 89

Occupancy Hotel Sales Revenue Sales 89

Hotel Management

FEBRUARY 13, 2024

Minor Hotels recorded 450% core net profit growth in 2023 compared to the previous year, after reaching a new full-year core revenue record of THB 121.4 Revenue was up 25% on 2022 figures with topline total system sales reaching THB 157 billion (approx. The post Major result for Minor Hotels as group hits record global revenue of US$3.4

Revenue 130

Revenue Average Daily Rate Occupancy Hotels 130

Refine

JANUARY 28, 2024

Overbooking is a common practice in the hotel industry, strategically employed to secure maximum occupancy and guarantee the sell-out of rooms. Why Do The post How Does Hotel Overbooking Impact Your Revenue? appeared first on Revfine.com.

Overbooking 122

Overbooking Revenue Occupancy Hotels 122

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

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 Occupancy in the segment also stood out, up 3.7 per cent), which was 4.2 per cent to 60.9

Occupancy 52

Occupancy Average Daily Rate Hotels Consumer 52

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

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