Hotel News Resource

NOVEMBER 20, 2023

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. hotel forecast revision of 2023.

Average Daily Rate 111

Average Daily Rate Forecasting Tourism Revenue 111

eHotelier

NOVEMBER 20, 2023

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. hotel forecast revision of 2023.

Forecasting 52

Forecasting Average Daily Rate Tourism Revenue 52

SiteMinder

JULY 25, 2022

Average daily rate (ADR) remains an important metric to talk about within the hotel industry. ADR, which stands for average daily rate, is the average income per occupied room your hotel makes in a set period of time. The formula for ADR is generally presented as room revenue / number of rooms sold.

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

STAAH

APRIL 16, 2024

Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). This enables hoteliers to adjust room rates dynamically to maximize revenue based on current market conditions.

Revenue Management 79

Revenue Management Revenue Management Forecasting 79

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%

Forecasting 105

Forecasting Average Daily Rate Occupancy Consumer 105

Hotel News Resource

FEBRUARY 23, 2024

Las Vegas achieved the highest Super Bowl weekend average daily rate (ADR) and revenue per available room (RevPAR). However, the market's levels surpassed the forecast, easily overtaking the previous records held by Miami (2020).

Average Daily Rate 74

Average Daily Rate Forecasting Revenue Market 74

eHotelier

NOVEMBER 27, 2022

STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022.

Forecasting 52

Forecasting Average Daily Rate Occupancy Tourism 52

eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? By utilising these RMS reports, revenue managers can make informed decisions to adjust pricing strategies accordingly.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hotel News Resource

AUGUST 11, 2023

For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024. percentage points, due to a 0.6ppt downgrade in occupancy growth. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy.

Average Daily Rate 52

Average Daily Rate Forecasting Occupancy Tourism 52

Hotelier Magazine

AUGUST 16, 2023

hotel forecast presented at the recent 15th annual Hotel Data Conference. For 2023, growth in Revenue Per Available Room (RevPAR) was lowered by 0.5 While that RevPAR growth remains above the long-term historical average, most of the increase was frontloaded to the early portion of the year. PARSIPPANY, N.J. — per cent on a 0.5-per-cent

Forecasting 52

Forecasting Tourism Average Daily Rate Occupancy 52

Catala Consulting

MAY 17, 2024

Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

SiteMinder

MAY 8, 2024

Bangkok, Thailand – It was a lucrative Songkran festival for Thai hotels as the average cost of a hotel room surged by 33% during the festival period in April. This is according to data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels.

Average Daily Rate 52

Average Daily Rate Revenue Hotels Forecasting 52

Hotel Management

FEBRUARY 20, 2024

Secondly, international travel continued to bounce back, and the hotel sector in Asia continued to show strong revenue growth. In 2024, JLL forecasts that value-add opportunities in Southeast Asia will be on the radars of investors.

Real Estate 245

Real Estate Average Daily Rate Occupancy Tourism 245

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Do all that and you’ll optimise your revenue by making as much money as possible from a limited resource: your rooms.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

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. For 2024, occupancy is forecasted to contract 1.4 In 2023 (percentage change from 2022): Occupancy: 65.7 per cent (up 7.7 per cent (up 7.7

Average Daily Rate 52

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.

Average Daily Rate 52

Average Daily Rate Occupancy Forecasting Hotels 52

SiteMinder

APRIL 18, 2024

London, UK : The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, shows data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. year-on-year.

Average Daily Rate 59

Average Daily Rate Revenue Management Accommodation Revenue 59

Hotelogix

APRIL 22, 2024

Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.   Strategic revenue management with hotel data Effective revenue management is critical to your hotel's profitability. What is Hotel Data?

Management 52

Management Average Daily Rate Revenue Management Hotels 52

SiteMinder

OCTOBER 9, 2023

These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and average daily rate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. It offers insights into room demand and helps in forecasting.

Average Daily Rate 59

Average Daily Rate Average Length of Stay Occupancy Revenue 59

Cloudbeds

FEBRUARY 26, 2024

Adam Harris, Co-Founder and CEO of Cloudbeds, said : “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 52

Average Daily Rate OTA Overbooking Travel 52

Hotelier Magazine

JUNE 29, 2023

per cent); Average Daily Rate (ADR) came in at $197.10 (up 15 per cent) and Revenue Per Available Room (RevPAR) came in at $136.32 (up 25.7 STR and Tourism Economics launched an updated forecast in June and the new version remains similar to the last, projecting full-year occupancy to return to 2019 levels this year.

Average Daily Rate 59

Average Daily Rate Occupancy Forecasting Hotels 59

SiteMinder

OCTOBER 16, 2023

Pricing intelligence, also known as rate intelligence, is a way for hotels to optimise their pricing and profitability. It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools. Given this, you may opt to avoid forecasting for fear of making mistakes.

Forecasting 59

Forecasting Revenue Management Revenue Hotels 59

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Occupancy rate indicates the percentage of utilization of hotel rooms. Revenue Per Available Room (RevPAR) is perhaps the most reliable and common measure of success for a hotel.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

SiteMinder

SEPTEMBER 10, 2023

It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services. This should include room occupancy rates, average daily rates (ADR), revenue per available room (RevPAR), and customer acquisition costs.

Revenue Management 59

Revenue Management Revenue Hotels Average Daily Rate 59

SiteMinder

OCTOBER 10, 2023

What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

Hotelogix

NOVEMBER 12, 2023

Reports like hotel revenue report and MIS hotel report are essential for every type of hospitality property. The report also shows room inclusion details (if available) along with the source of revenue collected. The revenue details in the report can be viewed including or excluding round off charges.

Management 59

Management Occupancy Average Daily Rate Revenue 59

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. The average length of stay is 1.93

Occupancy 59

Occupancy Hotels Average Length of Stay Revenue 59

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates.

Revenue Management 52

Revenue Management Revenue Occupancy Hotels 52

Inn Quest

MARCH 23, 2023

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. of customers are male and 52.3% are 25-34; 27% are 35-44; 17.5%

Forecasting 52

Forecasting Tourism Average Daily Rate Hotels 52

SiteMinder

OCTOBER 10, 2022

Falling short of your competitors when it comes to guest experience, accommodation standards or your marketing and advertising strategy can quickly lead to lost revenue. For example, STR data reveals that the average occupancy rate across US hotels in August 2022 was 66.5%, and the average daily rate was US$151.49.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Boutique Hotel News

MAY 4, 2023

The British economy is forecast to see a boost of £8.01 A further £85 million is forecast to come from travel into London alone, as 2.3 Nightly rates are up approximately 16 per cent year on year to £186 while there has been a 29.4 per cent increase in revenue overall. billion more than a typical May Bank Holiday [£4.8

Tourism 52

Tourism Consumer Average Daily Rate Occupancy 52

SiteMinder

JUNE 8, 2022

As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Why should your hotel use forecasting? Your occupancy rate.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

MBA Hotels

OCTOBER 15, 2019

Average daily rate is the main driver of revenue per available room (RevPAR) growth. STR forecasts RevPAR growth to be about 1.1% STR RevPAR Forecast ] Slow and steady revenue growth is keeping the industry optimistic, but it’s the profitability which is worrying some hotel investors and management companies.

Average Daily Rate 52

Average Daily Rate Forecasting Revenue Management 52

Catala Consulting

AUGUST 30, 2022

A few metrics to include in your SWOT analysis include: Average daily rate Sales circle length Event Activity Web traffic percentage of direct bookings Percentage of occupancy Revenue per available room Customer feedback, comments on social media, online reviews, and feedback.

Hotels 52

Hotels Average Daily Rate Revenue Business 52

Hotel Speak

FEBRUARY 26, 2024

Adam Harris, Co-Founder and CEO of Cloudbeds , said: “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 86

Average Daily Rate OTA Overbooking Travel 86

SiteMinder

DECEMBER 7, 2023

Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance. But why does it matter so much?

Management 59

Management Average Daily Rate Occupancy Revenue 59

Little Hotelier

AUGUST 29, 2023

Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancy rates. Income: Forecasted and other expected revenue. Make sure your all-in-one reservation system can track the revenue-related metrics that matter. Variable costs (eg.

ROI 98

ROI Average Length of Stay Hotels Revenue 98