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Peak industry body Accommodation Australia will officially launch on July 1, 2023, the Fair Work Commission has confirmed. The update follows a Accommodation Association member vote in favour (96%) of an amalgamation with TourismAccommodation Australia.
This years event is expected to draw record fan numbers an bring an increase of up to 10% in Melbourne city hotel room bookings, across main tournament days, according to Accommodation Australia. This cumulative growth represents a circa 33% increase in Melbourne hotel stocks, obviously generating more hotel rooms to be filled.
Both Melbourne and Sydney properties are forecasted to have 100% occupancy during concert dates and transient revenue is up to 30% stronger in comparison to other popular concerts,” Hutton told HM exclusively, noting that many hotel guests are asking if they are able to decorate their rooms with Taylor merchandise.
STAAH, a leading technology company helping hoteliers unlock their full revenue potential, has unveiled its list of distribution channels that brought the highest booking revenue to hotels in key tourism destinations across Southeast Asia, including Malaysia, Vietnam, Singapore, Indonesia, Thailand and Philippines, over the past year.
Ascott acquired the Oakwood portfolio last year Lyf is an accommodation concept targeting next-generation travellers including non-traditional corporates such as digital nomads, start-ups, entrepreneurs and creatives.
In her keynote speech at the 2023 GBTA Convention, GBTA Chief Executive, Suzanne Neufang, admitted the association got the forecast wrong last year – expectations were for a mid-2026 forecast – but there were no complaints about getting it wrong as she was thrilled with the renewed optimistic outlook.
Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. For hotel managers and the industry as a whole, accurate forecasting is not just beneficial—it’s essential for maintaining competitiveness and profitability in a dynamic market.
The growing trend of slow tourism offers a refreshing alternative to the fast-paced, overscheduled vacations many travelers have been experiencing. 👉 Read Also - ChatGPT for Hotels: Boost Direct Bookings & Reduce Costs Why People Like It Slow tourism resonates because it creates a richer, more memorable travel experience.
Domestic tourism definition Domestic tourism’s definition is much the same as domestic travel, except it takes into account only those who are travelling for leisure. Domestic tourism example An example of domestic tourism might be an American family travelling from another state to visit California and stay at Disneyland.
Growth rates are subdued across the region driven by weaker than forecast inbound tourism and persistent levels of inflation and interest rates. The regional workers’ accommodation fund is witnessing high demand and oversubscription.
The PwC hotel forecast for 2025 shows 1.9% One of the big areas that we’ve seen a massive rise in the industry is the tour operator space, said Claire Steiner, UK Director of Global Travel and Tourism Partnership. But despite all this, were seeing the resilience of hospitality come into its own once again. occupancy growth.
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. Domestic tourism is still going strong. Hotels are generating better revenue.
Marsha Walden: Our latest Tourism Outlook report shows total tourism revenue is set to exceed 2019 levels, generating a projected $109.5 Marsha Walden: Our latest Tourism Outlook report shows total tourism revenue is set to exceed 2019 levels, generating a projected $109.5 billion by the end of 2023.
UK: The UK’s travel and tourism sector is expected to see a boost of more than £200 million as a result of King Charles III’s Coronation weekend [6-8 May] and fortnight around those dates, as consumers travel across the country to celebrate with friends and millions across the UK make the journey to London to catch a glimpse of the historic event.
Did you know that hotel taxes contribute billions of dollars annually to local economies, funding everything from infrastructure projects to tourism promotion? Hotel tax, often referred to as occupancy tax, lodging tax, or tourism tax, is a fee imposed on guests staying at hotels , motels, or other lodging facilities. billion in 2024.
Travel statistics refer to data and information related to various aspects of the travel industry, such as travel trends, traveller behaviour, tourism spending, accommodation metrics, and more. Artificial intelligence will become an accommodation recommendation tool for 68% of millennials.
Pop star Madonna’s five sold-out Mexico City shows in April have given a significant boost to the capital’s accommodation industry. As travellers book further in advance, hoteliers are in a better position to forecast periods of heightened demand and dynamically optimise their revenue management.
In the hotel industry, eCommerce refers to the buying and selling of accommodation and related services over the internet. The Cloudbeds Hospitality Platform provides all these tools and more in one centralized system, allowing accommodation operators to manage guest profiles, reservations, payments, and other tasks on an integrated platform.
Accommodation. Accommodation or guest lodging is the hospitality sector in charge of overnight stays, whether that is one or many nights. Travel & Tourism. For this reason, many hotel businesses now use a set of market forecasting tools that involve, for example, flight data. Check your inbox, we've sent you an email.
On one hand, lower levels of supply growth may be limiting the ability to accommodate additional demand, particularly during peak periods. While there has not historically been a direct correlation between office vacancy rates and corporate demand for hotel accommodation there is, at a minimum, a loose relationship.
As more and more travellers are scheduling and booking their stays around major events well in advance, hotels must stay ahead of demand-driving tourism trends. They can capitalise on revenue opportunities by dynamically pricing rooms based on forecasts or offering upgrades and extras even before guests check in,” shares Haines.
Statista ) In 2022, the global hotel and resort industry market was forecast to reach $1.06 AHLA ) In 2022, the global travel and tourism revenue will reach over $600 million. Statista ) In 2021, a2,246 hotels opened worldwide, with a forecast increase of 2,805 hotel openings in 2022. billion in 2021. ( Statista ). Statista ).
Hotel industry statistics refer to data and metrics relating to hotels and other accommodations in the industry. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. s accommodation industry employs about 1.6 million people.
A hotel website design company, AKA a hotel website design agency or development firm, is a business that offers specialised hotel web design services that help accommodation providers find more potential guests and secure more direct bookings. In-depth knowledge of the hospitality industry and local tourism market.
Research the current and projected demand for hotels in your location, taking into account factors such as population growth, tourism trends, and economic activity. Research emerging travel trends, such as sustainable tourism, experiential travel, or the growing demand for wellness amenities.
Smoky Mountain Resorts combines family-friendly accommodation with the exhilaration of adventure across three Tennessee locations. AI has already started to benefit our revenue management through suggested rate optimizations and trend forecasting.
For full-year 2023, the group is confirming its forecast of net unit growth in the network between 2% and 3%. Reimbursements of hotel personnel costs were lower than in the third quarter of 2022, which included the re-invoicing of costs incurred under the accommodation management agreement for the Football World Cup in Qatar in 2022.
Travel wholesalers are B2B companies that purchase hotel room inventory in bulk at a discounted rate and sell it to OTAs, travel agents, tour operators, airlines, and other travel or accommodation sellers. Also known as bed banks, wholesalers are a ‘middleman’ sitting between travel agents and travel suppliers (in this case your hotel).
Hotel Management: Always talks about hospitality in accommodation Hospitality Management: Usually refers to a broader definition, incl. Hotel management handles budgeting, revenue forecasting , cost control , and financial analysis to ensure profitability while maintaining service quality. restaurants, bars, etc.
Hotel Management: Always talks about hospitality in accommodation Hospitality Management: Usually refers to a broader definition, incl. Hotel management handles budgeting, revenue forecasting , cost control , and financial analysis to ensure profitability while maintaining service quality. restaurants, bars, etc.
Adjusting your room prices based on real-time forecasts and competitor data means you can seize every revenue opportunity, irrespective of whether you’re in a period of low or high demand. Some destinations may be evergreen tourism hotspots, while others may have fluctuations due to a newer craze.
travel & tourism sector grew by 16.9% in 2022, to reach $2 trillion, according to WTTC’s Travel & Tourism Economic Impact 2023 Global Trends Report. In 2023, WTTC forecasts the sector’s GDP contribution will reach $2.2 led, boasting the largest travel & tourism sector in the world, in both 2019 and 2022.
This is obviously a plus for our industry as a whole, but also the meetings and events space, which Knowland forecasts will achieve a 114% recovery in 2023 compared to 2019. If they succeed, they’ll jeopardize the safety of both hotel guests and workers, virtually destroy the city’s tourism industry, and cause massive job losses.
Australias accommodation and tourism sectors have welcomed support for Tourism Australia and Rex Airlines in the Federal Governments 2025-26 Budget but noted a lack of broader support for tourism initiatives and business recovery.
Recovery in international, group, business and conference travel, combined with a packed events calendar, is seeing our occupancy forecasts tracking 7% ahead of last year. As the official accommodation partner of the AFL, we recognise the leagues pivotal role in sustaining the citys tourism and hospitality economy, Williams said.
The numbers don’t lie: The global music tourism market is projected to hit a high note of $13.8 Here’s how to play this tune right: Forecast like a pro : Use historical data and event calendars to predict demand spikes. Partner up : Establish relationships with nearby hotels or vacation rentals to accommodate overflow.
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