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

Lodging

JANUARY 18, 2024

hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. Hotel Performance During 2023 Percentage change from 2022:Occupancy: 63.0% (+0.6%)ADR: RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019.

Average Daily Rate 277

Average Daily Rate Occupancy Revenue Hotels 277

Skift Blog

APRIL 21, 2023

Skift Take: Slower supply growth and high demand aren't always necessarily bad, quite the opposite: They translate into high occupancy rates, and more revenue per booking. Srividya Kalyanaraman Read the Complete Story On Skift

Occupancy 312

Occupancy Revenue 312

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 Market 188

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

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 Management

FEBRUARY 13, 2024

Occupancies are at unparalleled levels over the concert periods, and we have also seen a surge in regional demand as Swifties take the opportunity to travel further. For both the Melbourne and Sydney concerts we’ve seen a bump in hotel occupancy around the event dates, and our restaurants have also seen great reservation numbers.

Occupancy 290

Occupancy Tourism Events Accommodation 290

Hotel Management

NOVEMBER 14, 2024

Nuell said the partnership over the past three years has resulted in more Marriott Bonvoy sign ups, increased brand awareness and increased hotel occupancy and revenue in the company’s 10 Melbourne hotels.  “The We operated at high occupancy throughout the tournament, and are currently pacing in line with last year. “We

Occupancy 130

Occupancy Events Revenue Accommodation 130

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

Hotel Management

MAY 23, 2024

A recent report by STR on Japan’s hotel market shows impressive growth in revenue per available room (RevPAR) over the past 15 months amidst above-average inflation and an influx of international demand following its later reopening post-pandemic. Historically, pricing power in Japan has correlated with high actual occupancy levels.

Occupancy 130

Occupancy Marketing Market Travel 130

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

APRIL 22, 2024

Revenue per available room (RevPAR) rose 5.8% driven by nearly equal gains in occupancy and average daily rate (ADR). Similar to the previous week, U.S. hotel performance ending 13 April 2024 reflected an easy comparison to Easter last year and the impact of the solar eclipse.

Average Daily Rate 264

Average Daily Rate Occupancy Revenue Hotels 264

Hospitality Net

MARCH 11, 2024

Growth in revenue per available rooms (RevPAR) returned to the U.S. Occupancy held somewhat steady, average daily rate (ADR) increased, weekday (Monday-Wednesday) performance grew, and group demand exploded, surpassing both the 2023 and 2019 comparables. following the previous week’s decrease.

Average Daily Rate 253

Average Daily Rate Occupancy Revenue 253

Hospitality Net

MAY 27, 2024

revenue per available room (RevPAR) grew 2.8% Occupancy was up 0.1 percentage points (ppts) at 67.4%, which was the highest weekly occupancy of 2024 but still 3.0 Occupancy was up 0.1 percentage points (ppts) at 67.4%, which was the highest weekly occupancy of 2024 but still 3.0 ppts below the 2019 comparable.

Average Daily Rate 241

Average Daily Rate Occupancy Scale Revenue 241

Hospitality Net

JUNE 14, 2024

Join Daniel Foreman and Jeff Eskew from Lighthouse’s Revenue Strategy Services team as they unravel the critical role of demand drivers in shaping the booking curve. Transform your approach to booking strategies with insights that empower you to make informed, data-driven decisions.

Occupancy 244

Occupancy Revenue Services 244

Hospitality Net

FEBRUARY 12, 2024

hotels took an expected seasonal pause with occupancy 1.0 year over year (YoY), resulting in a gain in revenue per available room (RevPAR) of 1.7%. percentage points (ppts) lower compared to the prior week and flat from a year ago. This bridge week between January and February historically has produced a week-over-week decline.

Average Daily Rate 263

Average Daily Rate Occupancy Revenue Hotels 263

Skift Blog

JULY 19, 2023

Skift Take: Industry experts are very bullish on the revenue growth of premium hotels owing to better operational parameters, largely due to domestic demand and global events like the G20 Summit and the Cricket World Cup 2023. Amrita Ghosh Read the Complete Story On Skift

Occupancy 189

Occupancy Events Revenue Operations 189

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

Hospitality Net

JANUARY 25, 2024

Group bookings are calculated using occupancy and average daily rate (ADR). The fourth quarter of 2023 demonstrated that group business in 10 of the top markets in the U.S. has recovered 110 percent compared to the same time in 2019.

Average Daily Rate 245

Average Daily Rate Business Hospitality Occupancy 245

Lodging

JANUARY 29, 2024

The market is projected for a Friday through Sunday night occupancy of 87.9 That level combined with an ADR of $573 would result in revenue per available room (RevPAR) of $504. HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb.

Average Daily Rate 278

Average Daily Rate Forecasting Occupancy Revenue 278

Lodging

MAY 18, 2023

DALLAS—CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains. CBRE has revised its forecast for 2023 revenue per available room (RevPAR) to $97.89, up 6.0 percent year-over-year, and an increase of $0.43 from its previous forecast.

Forecasting 264

Forecasting Average Daily Rate Occupancy Revenue 264

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

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 Occupancy Resorts 180

Hospitality Net

JANUARY 22, 2024

Thus, this week’s robust gain (+6.3%) in average daily rate (ADR) came as a surprise given occupancy was down 1.5 revenue per available room (RevPAR) advanced 3.3% percentage points (ppts). due to the ADR boost.

Average Daily Rate 260

Average Daily Rate Occupancy Consumer Revenue 260

Hospitality Net

MAY 6, 2024

Revenue per available room (RevPAR) declined 2.5% as occupancy fell 0.8 hotel performance paused due to the Passover observance that began on Monday 22 April. percentage points (ppts) and average daily rate (ADR) declined 1.3%.

Average Daily Rate 234

Average Daily Rate Occupancy Revenue Hotels 234

Hospitality Net

FEBRUARY 26, 2024

STR’s global "bubble chart" update as of 10 February 2024 shows that 74% of markets increased revenue per available room (RevPAR) from the comparable period in 2023. Growth was balanced with 64% of markets showing increased occupancy and 70% achieving a higher average daily rate (ADR) than last year.

Average Daily Rate 238

Average Daily Rate Market Marketing Occupancy 238

Hospitality Net

MAY 15, 2024

Japan’s growth in hotel revenue per available room (RevPAR) has remained extremely impressive over the past 15 months – a function of a later opening post-pandemic, above-average inflation, and an influx of international demand.

Average Daily Rate 245

Average Daily Rate Occupancy Revenue Hotels 245

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

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

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

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

Lodging

NOVEMBER 20, 2023

HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. Occupancy was downgraded slightly (by 0.2 hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due to a 0.6

Forecasting 290

Forecasting Average Daily Rate Occupancy Tourism 290

Hospitality Net

OCTOBER 31, 2023

hotel revenue per available room (RevPAR) rose 2.9% in September 2023, which was the strongest year-over-year (YoY) growth of the quarter, even as occupancy continued to decline modestly.

Occupancy 243

Occupancy Revenue Hotels 243

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

Hospitality Net

MAY 29, 2024

Spain’s hotels achieved occupancy of 68.5% compared to the same quarter in 2023), with average daily rates (ADR) standing at €134.60 (+11.7%) and revenue per available room (RevPAR) of €92.10 (+17.1%). Given that the first three months of the year represent high season for the islands, occupancy understandably reached 84.3%.

Average Daily Rate 246

Average Daily Rate Occupancy Hotels Tourism 246

Hospitality Net

DECEMBER 18, 2024

Event-driven travel is undeniably booming, with its influence seen in hotel occupancy and room rates. trillion suggesting that events are set to become an even more important revenue source for the hospitality industry.

Events 130

Events Revenue Management Revenue Market Research 130

Hospitality Net

SEPTEMBER 8, 2023

revenue per available room (RevPAR) grew just 0.8% year over year in July, as growth in average daily rate (ADR) continued to decelerate and national occupancy declined for the fourth consecutive month.

Average Daily Rate 239

Average Daily Rate Occupancy Revenue Hotels 239