article thumbnail

7 Hotel Revenue Management Trends & Innovations of 2024

STAAH

Interactive dashboards and visual representations make it easier for revenue managers to make data-driven decisions, identifying revenue trends, tracking performance metrics, and accurately forecasting future demand.

article thumbnail

Survey Results: Revenue Management Trends & Predictions for 2024

Hotel Speak

The top six trends identified by our survey respondents are: Profitability Automation Integrated Systems TrevPAR Ancillary revenue Artificial intelligence Revenue Management More Important Than Ever The revenue management discipline in hotels continues to grow in importance, with respondents ranking it 4.8

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Report: Independent hotels see record-breaking occupancy

Hotel Business

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. Memorable experiences outweigh rising inflation.

Occupancy 115
article thumbnail

Mastering The Art of Resort Revenue Management

Catala Consulting

This approach implies higher rates during peak seasons and lower ones during off-peak periods, leading to an optimized revenue yield. Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions. Such services might include dining, spa services, on-site entertainment, or event fees.

article thumbnail

What is Hotel Revenue Management?

Xotels

What Does the Process of Revenue Management Look Like? Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? Revenue Management – What is the Difference? Why is Revenue Management Important to Hotels & Other Industries?

article thumbnail

Hotel Revenue Management Strategies

Xotels

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.

article thumbnail

2023 hotel and travel trends

Boutique Hotel News

A recent Knight Frank report supports this idea, revealing that ancillary revenues have increased in 2022 with the contribution to total revenue rising by 1.5 Looking ahead, supply levels are forecast to exceed 1,100 schemes by 2027, nearly doubling the current volume at around 640 projects worldwide. percentage points.

Travel 124