Hotel Business

FEBRUARY 10, 2023

Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for Feb. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. Even with 11.7% Even with 11.7%

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Forecasting Average Daily Rate Occupancy Consumer 105

Hotel Management

FEBRUARY 20, 2024

Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high average daily rates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience.

Real Estate 246

Real Estate Average Daily Rate Occupancy Marketing 246

Cloudbeds

OCTOBER 9, 2024

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.

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Forecasting Hospitality Occupancy Revenue Management 59

Hotelogix

JULY 18, 2024

Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. What is Hotel Forecasting? Hotel financial forecasting helps hoteliers set targets by predicting fiscal outcomes.

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Forecasting Average Daily Rate Occupancy Revenue Management 52

Hotelier Magazine

AUGUST 16, 2023

hotel forecast presented at the recent 15th annual Hotel Data Conference. While that RevPAR growth remains above the long-term historical average, most of the increase was frontloaded to the early portion of the year. Average Daily Rate (ADR) was upgraded 0.1 PARSIPPANY, N.J. — per cent, due to a 0.6-

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Forecasting Tourism Average Daily Rate Occupancy 52

Hotelier Magazine

JANUARY 25, 2024

WASHINGTON — Canada’s hotel Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) were the highest for any year on record, according to CoStar’s 2023 data. Due to weakness in the broader economy, consumers have started reining in discretionary spending. For 2024, occupancy is forecasted to contract 1.4

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Average Daily Rate Occupancy Forecasting Consumer 52

Hotelier Magazine

AUGUST 29, 2023

Canada’s hotel industry reported its highest Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) for any month on record, according to CoStar’s July 2023 data. STR and Tourism Economics’ most recent forecast has been upgraded, with full-year ADR expected to be up 8.6 HENDERSONVILLE, Tenn. per cent to 75.6

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Average Daily Rate Occupancy Forecasting Hotels 52

Hotelier Magazine

NOVEMBER 26, 2024

WASHINGTON — Canadian hotels witnessed a significant landmark in October 2024, as the Average Daily Rate (ADR) surpassed $200 for the first time ever, according to data from CoStar. October’s occupancy rate was 68.5 Meanwhile, the lowest occupancy rate was recorded in Prince Edward Island at 58.2 The ADR rose by 2.4

Average Daily Rate 52

Average Daily Rate Occupancy Forecasting Tourism 52

SiteMinder

JULY 13, 2024

It involves the use of data and analytics to help you keep track of supply and demand so you can make predictions on consumer behaviour. This is a key reason why you should never be afraid to increase your rates, and this may be surprising, but customers actually expect increases over time.

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Hotelier Magazine

JUNE 27, 2024

per cent) Average Daily Rate (ADR): CAD$206.39 (up 4.5 per cent) “Improvement in Canada’s hotel room rates drove a RevPAR lift in May,” says Laura Baxter, CoStar Group’s director of Hospitality Analytics for Canada. STR’s 2024 forecast reflects slower rate growth at 1.9 per cent to 67 per cent).

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Average Daily Rate Occupancy Forecasting Hotels 52

SiteMinder

JUNE 12, 2024

Learn more Yield management vs revenue management The goal of yield management is not merely to increase room rates or occupancy; rather, it’s to maximise your hotel’s revenue by forecasting your room supply and demand across a variety of key factors. This strategy aids in forecasting demand and resource planning.

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Yield Management Management Revenue Management Revenue 98

Boutique Hotel News

MAY 4, 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.

Tourism 52

Tourism Consumer Average Daily Rate Occupancy 52

Cloudbeds

MARCH 23, 2023

These days, more consumers are going online to make purchases, and travel is no exception. Popular eCommerce platforms like Amazon and Uber have raised the bar, conditioning consumers to expect shopping online to be simple, fast, and secure. Moreover, a hotel room can’t be returned if it doesn’t meet expectations.

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OTA Digital Marketing Marketing Market 98

STAAH

JULY 8, 2024

The hospitality industry faces seasonal challenges and fluctuating market conditions, including reduced consumer spending and increased competition. Here’s a comprehensive guide to help accommodation providers optimize their efforts and maintain steady occupancy rates during economic downturns.

Digital Marketing 52

Digital Marketing Accommodation Marketing Market 52

Hotelogix

MAY 1, 2025

This figure becomes the foundation for performance analysis and forecasting. Average Daily Rate (ADR) ADR shows the average income earned from rooms sold, offering insight into pricing effectiveness. It helps hoteliers benchmark revenue performance and adjust room rates depending on seasonality and competition.

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Occupancy Average Length of Stay Average Daily Rate Revenue 59

SiteMinder

OCTOBER 16, 2023

Simplifies the forecasting process Forecasting can be an overwhelming and cumbersome process, even for the most experienced hotel operator. Given this, you may opt to avoid forecasting for fear of making mistakes. With the right pricing tool however, long-range forecasting is much easier.

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Forecasting Revenue Management Revenue Hotels 59

Inn Quest

MARCH 23, 2023

The contribution to GDP of the tourism industry on the whole is currently 1.6% (Statista). Other figures from Statista are as follows: Australia’s hotel segment specifically is forecasted to see revenues of US $6.75 The result was increased occupancy, which continued throughout the year and along with an increase in average daily rates.

Forecasting 52

Forecasting Tourism Average Daily Rate Hotels 52

Cloudbeds

MAY 31, 2023

For the hotel business, rate shopping is an integral part of a dynamic pricing strategy , providing valuable insights into competitor rates. By monitoring market pricing intelligence, hotels can stay apprised of opportunities to flex pricing power, increase ADR (average daily rate), and lower pricing to increase occupancy.

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Shopping Revenue Management Average Daily Rate Revenue 52

Hotelogix

AUGUST 21, 2024

While doing it manually will be time-consuming and error-prone, a Hotel PMS automates the whole process. They help you understand the percentage of rooms occupied, the percentage of rooms occupied minus complementary and house use, the average daily rate, and the total revenue of your hotel, including POS, & other charges, etc.

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Revenue Average Daily Rate Rack Rate Hotels 52

Cloudbeds

APRIL 30, 2024

A brief history of room price optimization Given the multitude of factors to consider and the analysis required, establishing accurate real-time room prices for your property may seem complex and time-consuming. It makes sense to keep your finger on the pulse and be attuned to consumer trends to deliver the best guest experience possible.

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Revenue Revenue Management Occupancy Hotels 52

Cloudbeds

JUNE 5, 2024

That’s when reputation pricing comes in, allowing revenue managers to increase metrics like ADR (average daily rate) and, ultimately, RevPAR ( revenue per available room ). The connection between reputation and rates Several research studies have confirmed the connection between reputation and rates.

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Revenue Management Revenue Occupancy Average Daily Rate 52