Hotel Speak

JULY 19, 2024

It depends on the market. They realize that the earlier they book the lower the rates are going to be. If group business has a lower average daily rate (ADR) than transient, which it always does, do you put the group on the books in advance and sell the remaining rooms to transient at a higher rate?

Revenue

SiteMinder

JULY 13, 2024

Revenue management revolves around measurement of what customers from different audience segments are willing to pay, as well as the ever-changing supply and demand within each market. The right distribution channels can have strong marketing power, putting your hotel in front of many customers you aren’t able to contact directly.

Revenue Management

SiteMinder

MARCH 13, 2025

A feasibility study looks at factors such as the market, location, cost, and potential revenue of the proposed hotel and is typically undertaken by a third-party company or consultant. It will give you key details such as risks, development costs, potential revenue, preferred target markets, competitor analysis and more.

Average Daily Rate

MediaBoom

AUGUST 6, 2024

A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and market share. Understanding Your Target Audience Identifying the ideal guest is the cornerstone of effective hotel branding. When your hotel branding is consistent, more travelers will immediately recognize your marketing.

Branding

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. The company is the recognised leader in hotel industry benchmarking and provides market data including supply and demand and market share information on a global scale.

Average Daily Rate

Little Hotelier

FEBRUARY 25, 2024

In terms of hotel revenue management consulting, this guidance usually takes the form of more effective pricing – identifying and setting room rates that are alluring to your target market and result in more bookings, while maximising the amount you earn from each booking. Benchmarking against the market and key competitors.

Revenue Management

SiteMinder

JUNE 12, 2024

By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. It’s a testament to how industries adapt, grow, and refine their strategies in response to changing market dynamics and customer expectations.

Yield Management

eZee Absolute

MAY 13, 2024

An RMS is a comprehensive software solution designed to analyze various data points, including historical booking patterns, market demand, competitor pricing, and other factors that influence revenue generation for your hotel. For example: A hotel’s booking pace report for the upcoming month falls short of the occupancy target.

Revenue Management

eZee Absolute

JANUARY 9, 2023

Use social media marketing. If you have been thinking of targeting this group of travelers, then here are some of the benefits you would love to learn about: 1. Have a higher average daily rate. Set rates that are practical and reasonable. Explore new markets. Use social media marketing.

OTA

Cloudbeds

AUGUST 8, 2024

We also take a look at seven of the leading business intelligence solutions on the market, including our own Cloudbeds Insights. It can be market-specific or collected as part of your marketing campaigns. Data can be broken down into performance data, market and benchmarking data, and guest data.

Business

Cloudbeds

MAY 8, 2024

Occupancy rate indicates the percentage of utilization of hotel rooms. ADR (Average daily rate) is the calculation of the average price or rate of a hotel room charged for a given period. Understanding these trends can help you tailor your marketing and pricing strategies to each channel accordingly.

Cancellation

SiteMinder

DECEMBER 20, 2023

Simply multiply your predicted average daily rate (ADR) by your occupancy rate. Corporate leaders also rank reputation as their most valuable asset and the World Economic Forum estimates that 25% of a company’s market value is directly related to its reputation.

Business

SiteMinder

JANUARY 8, 2024

This can involve the management of anything related to the hotel industry and requires knowledge of distribution strategy, finance and accounts, customer service, staff management, marketing, catering management, hotel administration and more. It can take time to get everything right and as we can see there’s a lot to be aware of.

Operations

SiteMinder

JANUARY 8, 2024

This can involve the management of anything related to the hotel industry and requires knowledge of distribution strategy, finance and accounts, customer service, staff management, marketing, catering management, hotel administration and more. It can take time to get everything right and as we can see there’s a lot to be aware of.

Operations