This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For example, if occupancy suddenly drops, the platform sends an alert with a suggested offer and segment.
Master your hotel metrics with SiteMinder Stop losing revenue to manual calculations. Get real-time ADR, RevPAR, and occupancy data that automatically updates across all channels. KPI (Key performance indicator) A measurable value such as RevPAR or occupancy used to gauge success against goals. See also: RevPAM.
Solid occupancy isnt enough anymore. While occupancy is still a core metric, relying on it too heavily can leave your property management business vulnerable to seasonal swings, economic uncertainty, and a volatile demand environment. Ancillaryrevenue to the rescue! Markets are saturated. Competition is fierce.
Ancillaryrevenues increased 19% compared to second quarter 2024 and 13% on a year-to date basis. We also returned nearly $110 million to shareholders this quarter—continuing to demonstrate the value-creating power of our highly cash-generative, resilient asset-light business model. per share. “We
Pricing optimisation: Setting the right prices to maximise revenue while maintaining occupancy. Want to read more about the basics of revenue management? This means identifying and testing which opportunities bring the most revenue to your hotel, or have the highest potential to bring in new business.
Everything we do must connect to them’ helped to transform your guests experience and your approach to revenue generation? Judi: Well, I’ve come to that philosophy, not through a strategic revenue management approach, but because of who we are as a business.
Hotel Business has compiled a roundup of some of them. LG debuts Pro:Centric+ LG Electronics has introduced Pro:Centric+, the next generation of its Pro:Centric hotel TV platform that turns in-room displays into powerful business tools. At HITEC 2025 in Indianapolis, new products were showcased and new partnerships were formed.
Hoteliers are realizing the importance of investing in this technology not only for business performance but to be able to meet high guest expectations now and in the future. By embracing these innovative solutions, hoteliers can gain a competitive edge, enhance their business strategies, and drive significant revenue growth.
. “In 2024, we also successfully relaunched four brands, substantially expanded our partnerships business, significantly increased our international footprint, achieved record organic rewards program growth and unlocked new value through additional ancillaryrevenue opportunities. Domestic ADR grew by 3.1%
Most hotels keep things simple, focusing on convenience for business and leisure travellers, with the majority of revenue coming from room bookings. Think business travellers in the city for a few nights or tourists who plan to explore local attractions rather than spend all day on-site.
What Are Revenue Management Tools? What Are Revenue Management Tools? Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability. It monitors guest reservations, room occupancy, and overall performance metrics.
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. MJH is aligning its tech strategy and business ambition to build a better foundation for the future. announced the launch of Agilysys Book with S.P.E.N.D.
Morgan points to the industry’s remarkable recovery post-pandemic, which continues to resonate across segments such as business travel, where expenditures have exceeded the high-water mark of 2019. Torres adds that relying too heavily on room revenue, particularly when occupancy is moderate, limits a hotel’s potential. “If
For hoteliers, hotel costs encompass everything from the cost of construction, to the cost of insurance, to the everyday operational costs of establishing, running and ultimately growing a hotel business. Labour is your largest controllable expense – invest in cross-training and smart scheduling tied to occupancy data.
âLong form editorial content is the perfect match for a relaxed, affluent traveler looking to enhance their day with in-depth coverage of current events, or to spend quality time indulging their passions, be it art, architecture, business, or any of the many special interest magazines offered by ZINIO. waking hours in the hotel room.
Social Connect: Enables AI-powered guest engagement across popular social platforms including Facebook, Instagram, Messenger, and WhatsApp Business. Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs.
This collaboration enables hotels using Infor HMS to drive incremental revenue and elevate guest personalization by seamlessly integrating Plusgradeâs proven upsell technology into the core guest journey. âTogether, weâre bringing ancillaryrevenue into the digital core of hotel operations â where it belongs.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. MJH is aligning its tech strategy and business ambition to build a better foundation for the future. announced the launch of Agilysys Book with S.P.E.N.D.
Lybra Assistant is ideal for all properties with more than 20 rooms, from independent hotels and branded groups, and those offering both leisure and business segments. During my time partnering with Chris, heâs demonstrated deep knowledge of our business, strong values and a clear commitment to our growth.
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. LAN service providers are enabled to provide more customized solutions to their hospitality clients. announced the launch of Agilysys Book with S.P.E.N.D.
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. MJH is aligning its tech strategy and business ambition to build a better foundation for the future. announced the launch of Agilysys Book with S.P.E.N.D.
It shifts the conversation from in-room TVs as guest amenities to essential business infrastructure,â said Jake Benner, Senior Director of Hospitality at LG Electronics North America. âWeâre committed to being a long-term business solutions partner to hoteliers,â said Benner.
The integration of HotelKey with Sojern holds great promise for Red Roof as we continue to invest in our business to create value for our franchisees and guests," said Sharee Brell , Red Roofs SVP of Technology. âWeâre committed to being a long-term business solutions partner to hoteliers,â said Benner.
Pop-up and add-on rentals are captured and tracked, increasing ancillaryrevenue without adding headcount. It shifts the conversation from in-room TVs as guest amenities to essential business infrastructure,â said Jake Benner, Senior Director of Hospitality at LG Electronics North America.
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. Some of the findings: Direct bookings are on the rise.
By combining information from different sources, revenue managers can visualize the entire customer journey, customizing pricing and promotions for different channels and groups. AncillaryRevenue Management Pricing In addition to room revenue, ancillaryrevenue streams play a crucial role in boosting overall profitability.
What is a hotel business plan? A hotel business plan is a comprehensive document that outlines your hotel’s goals, strategies, and financial projections. It’s a vital tool for any hotel owner or operator, whether you’re starting a new hotel, expanding an existing business, or improving your current operations.
Wyndham Hotels & Resorts , for the first quarter ended March 31, reported that global RevPAR grew 1% in constant currency and ancillaryrevenues grew 8% compared to the first quarter of 2023. and the direct franchising business in China, which grew 3% and 13%, respectively. and 8% internationally. In the U.S.,
There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillaryrevenue , upselling and other marketing strategies. Optimise ancillaryrevenue. Partner with local businesses to provide guests a well-rounded experience.
Ancillaryrevenues increased 6% compared to second quarter 2023. The resilience and highly cash generative nature of our business model was once again on full display this quarter,” said Geoff Ballotti, president/CEO, Wyndham. APAC occupancy declined 7% and ADR declined 5%. In the U.S., Overall, U.S. economy brands.
Originally published on Hospitality Net By Michael Yeomans, Senior Vice President, Business Intelligence & Data Solutions Amadeus In the ever-evolving hospitality industry, the use of business intelligence is becoming increasingly important. These are issues that can be significantly improved upon with the right technology.
Ideal for business travelers, families or couples, the hotel boasts premier views and private balconies from many rooms, two full-service meeting and events venues, and a warm ambience that makes guests feel relaxed and welcome.
“Our teams around the world once again delivered exceptional results, executing our long-term growth strategy and achieving 7% growth in comparable adjusted EBITDA fueled by continued system expansion, higher royalty rates and growth in our ancillaryrevenues,” said Geoff Ballotti, president/CEO. “We Diluted earnings per share was $1.29
Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? In our article about What is Revenue Management and in our Free Revenue Management Book for Hotels we have explained everything in detail about what the concept of revenue management is all about.
This technique is widely utilized across various fields, including business, finance, and economics, to aid in decision-making and planning. For instance, businesses may forecast sales or total revenue to guide their strategic planning and resource allocation.
Whether you accept transient or group business to your hotel is more than just a revenue management question. And it depends on how you want to run your business. When I worked as a revenue manager in Vancouver, that was my strategy. You thought it was going to be busy. It’s also a risk management question.
What is hotel revenue? Hotel revenue is the income your business earns from selling rooms or other products and services to guests. While revenue is mostly generated from selling your rooms, you can also collect revenue from your amenities such as a bar, restaurant, gym, or spa.
What is revenue optimization? Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. There’s a full range of advantages for hotels and hospitality businesses.
Let´s explore the following topics & trends that are shaping the (current) hotel industry landscape: Can’t Forget the Basics What are the trends in revenue management in 2024 Distribution: Fishing Where the Fish Are Outsourcing To AI or Not to AI? Want to read more about the basics of revenue management?
Let´s explore the following topics & trends that are shaping the (current) hotel industry landscape: Can’t Forget the Basics What are the trends in revenue management in 2024 Distribution: Fishing Where the Fish Are Outsourcing To AI or Not to AI? Want to read more about the basics of revenue management?
A lower CPOR indicates that your business has a good handle on costs and resources. A lower CPOR means that you are generating more revenue per occupied room, which can lead to higher profit margins. Pricing strategy: Higher room rates can increase revenue and potentially lower CPOR. Business mix: The type of guests (e.g.,
Optimizing ancillaryrevenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Building solid partnerships: Collaborate with local businesses and tourism boards for mutual referrals. Optimize your website for SEO to attract organic traffic.
In this blog we’ll delve into how you can set up your business to succeed in this increasingly valuable – and rapidly more competitive – space. This is especially appealing to long-term business travellers, digital nomads, and families who prefer the comforts of home alongside the luxury of hotel services.
Hotel Business caught up with industry experts who shared with us all the data, trends, challenges and ways to manage the rest of this year. increase in occupancy. “Urban areas are also experiencing a comeback in both group and corporate business travel, indicating a recovery in these sectors. . increase in ADR and 0.8%
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content