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This follows a record averagedailyrate of NZ$673 that was reached on 31 December 2024. In Wellington, occupancy and averagedailyrates are down due to the central Governments reduction in spending but we do not see this as a long-term shift and expect demand to bounce back in line with the broader New Zealand economy.
star segment recorded a significant 22% year-on-year increase in AverageDailyRate (ADR) with ratesaveraging NZ$405 for these premium properties, driving the overall 15% rise ADR for the market. Occupancy in this segment reached close to 78%.
“The figures presented by Paul Hammond, Sales Manager Pacific at STR showed global demand continues to surpass prior years, though the pace of growth has slowed and normalised,” said AA NSW General Manager Stacey McBride.
In fact, concert-goers often flood the local hotel market, with occupancyrates skyrocketing, and hotels seizing the opportunity to increase room rates due to heightened demand. As global acts continue to tour, the hospitality industry is reaping the benefits in ways that extend far beyond just ticket sales.
In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success. The right sales tactics can help increase revenue, boost occupancyrates , and ensure guests have a positive experience. If they lower their rates, you might need to adjust yours to stay competitive.
Significant sales included the Radisson Toronto Airport West, which sold for $28.9 Overall occupancy levels remained flat, increasing by just 0.1 Growth was largely driven by higher AverageDailyRates (ADR), which outpaced inflation. million, and the Best Western Plus Ottawa Kanata, which traded for $10.5
Dynamic Pricing : Real-Time Revenue Optimization Channel Managers like STAAH enable rule-based pricing automation , adjusting your rates based on demand, occupancy, and even competitor pricing. A drop below 30% occupancy? Your rates drop automatically to drive last-minute bookings, across all OTAs. No more repetition.
AverageDailyRate (ADR): Averagedailyrate can be used to calculate the averagerate at which occupied rooms are booked and is immensely useful to identify performance over time by drawing a comparison between the current and previous periods or seasons.
Financial analysis When EBITDAR is combined with other metrics, such as ADR (averagedailyrate), occupancyrate, or RevPAR (revenue per available room) , it can help dig deeper into financial metrics. Improve marketing and distribution Optimize distribution channels to reduce sales commissions.
Monitor your brand Set up alerts for brand mentions and review scores, then track them alongside occupancy and ADR. With SiteMinder’s platform, we can reach more points of sale and boost our presence in key markets. Fix the root cause, tweak the messaging if needed and let guests see the change in action.
This information comes from many places such as: Property Management Systems (PMS) Point of Sale (POS) systems Customer Relationship Management (CRM) databases Online review platforms Social media channels Competitor pricing data Market trends and economic indicators Data Integration After collecting the data, we need to integrate it.
Historically, hotel performance has been measured by room-based metrics such as Revenue per Available Room (RevPAR), AverageDailyRate (ADR), and occupancy. With that in mind, it’s an opportune time for hotel operators to reassess their revenue strategies to capitalise on the influx of travellers.
Through a seamless data exchange from Cloudbeds to STR, users will be able to track trends in occupancy, averagedailyrate (ADR), revenue per available room (RevPAR), and other essential metrics directly within their STR dashboard, facilitating data-driven decision-making.
The key to higher occupancyrates and maximized revenue ? Why OTAs Still Dominate in 2025 Fact: OTAs account for 52% of online hotel leisure sales (Source: Phocuswright ) in the USA, This makes them a key component of any distribution strategy, no matter how small or large the hotel is. Diversification across multiple channels.
Averagedailyrates (ADRs) in Asia Pacific are up 19% in local currencies versus the last cyclical peak in 2018-2019, according to JLL with most markets still having room to increase occupancy back to pre-pandemic highs “given strong business travel offsetting some pull back in leisure travel”.
Revenue was up 25% on 2022 figures with topline total system sales reaching THB 157 billion (approx. Demand for leisure and business travel across most key markets drove strong rate growth, with group-wide averagedailyrate (ADR) increasing by 10% compared with the previous year. billion (approx. billion or AU$5.3
A robust sales distribution strategy is indispensable for hotels striving to maximise revenue and drive direct bookings. From searching to booking, guests are influenced by an average of 38 websites before making a reservation. Online visibility leads to occupancy.
What drives more value to the business, ADR, averagedailyrate, or occupancy? So what is it, Occupancy or Average Room Rate (ARR)? It boils down to something like this: ‘But if we would do 5% lower occupancy, at a 5% higher ADR, would we not make more profit?’ Which is it?
What drives more value to the business, ADR, averagedailyrate, or occupancy? Occupancy or ADR? So what is it, Occupancy or Average Room Rate (ARR)? It boils down to something like this: ‘But if we would do 5% lower occupancy, at a 5% higher ADR, would we not make more profit?’
An example of a monthly income statement for the month of September: Category Amount ($) Revenue Room sales 50,000 Food and beverage sales 15,000 Other services 5,000 Total revenue 70,000 Expenses Staff salaries 25,000 Utilities (electricity, water, etc.) Miscellaneous income: Sales from gift shops, vending machines or rental spaces.
In today’s competitive hospitality industry, well-structured sales and revenue strategies are the key to success. Occupancyrates, AverageDailyRate (ADR), and Revenue per Available Room (RevPAR) are just a few core metrics that can shape your decisions. This is the power of data-driven insights.
While the accommodation market has bounced back faster than expected, the real growth in profitability for the sector after accounting for increased costs, strongly points to the fact that the AverageDailyRates (ADR) growth has not been substantial enough to maintain pace with the escalations in construction pricing.
Group bookings are calculated using occupancy and averagedailyrate (ADR). Launched in June, the Index was designed to help hotel sales teams and operators identify the top markets driving group business, enabling hotel sales teams to target these markets and drive increased sales strategically.
It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. It involves forecasting key metrics such as demand, occupancy, averagedailyrate, and RevPAR (revenue per available room). How do we Forecast Hotel Occupancy?
Launched in June, the Index was designed to help hotel sales teams and operators identify the top markets driving group business, enabling hotel sales teams to strategically target these markets and drive increased sales. Growth or declines in ADR can offset room night performance.
These include individual room details, revenue breakdowns by the counter, per-room and Point of Sale (POS) outlet earnings, and tax collection specifics for each room and POS outlet. They provide comprehensive insight into the financial facets of your operations, sales, and marketing efforts.
Group bookings are calculated using occupancy and averagedailyrate (ADR). percent of the group rooms sold in 2019 and increasing the averagerate by 14.8 Each factor is averaged to provide a final index score, ensuring a more accurate overall performance assessment. Seattle 110.9
Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. The bold line represents the averageoccupancyrate for the competitive set. Here, the bold line represents the compset’s average RevPAR.
These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and averagedailyrate (ADR) to operational aspects such as occupancyrates and guest satisfaction scores. It can be calculated by multiplying your averagedailyrate by your occupancyrate.
As of May 6, 2023, Amadeus Demand360 ® data reveals on-the-books global hotel occupancy for June has reached 32%, trending above the 2022 and 2021 figures for the same month and standing just three points behind occupancy levels seen in 2019.
Large-scale sporting events such as France’s Rugby World Cup substantially impacted hotel occupancies. Throughout it all, we’ve kept pace with the evolutions of an industry where hotel occupancies outperformed 2022 , group business in the top 25 U.S. markets has already recovered by 99.1% markets has already recovered by 99.1%
When asked to rate their top business objectives that are driving technology investment, 41% of hoteliers cited their desire to increase occupancy. Survey respondents also said data fragmentation (33%), data efficiency (32%), and data integrity (30%) are among the biggest challenges faced in business intelligence today.
The averagerate index (ARI) is a metric that allows hoteliers to evaluate the performance of their room rates relative to a group of competitors during a specific period. Calculate your property’s ADR, RevPAR, and occupancyrate. However, this should always be assessed in relation to sales strategies.
For instance, businesses may forecast sales or total revenue to guide their strategic planning and resource allocation. With a comprehensive demand forecast in hand, commercial teams—including sales, marketing, and revenue management—can devise targeted tactics to maximize revenue.
Compared to 2019, Fiji’s AverageDailyRate (ADR) is 71% higher than it was in 2019 at AU$461, according to STR’s Regional Director Matt Burke in his exclusive AHICE outlook, and that is resulting in record results for owners and operators across the nation. Then again, it’s even hotter than you thought.
Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancyrates. To manage your revenue successfully, you need to be able to see all your revenue streams – from the online booking websites where you advertise your property , to your marketing and sales.
A hotel availability forecast is a predictive tool used by hoteliers to estimate the number of rooms that will be available for sale over a specific period. Occupancyrate The occupancyrate indicates the percentage of rooms occupied over a specific period. Table of contents What is a hotel availability forecast?
By Nicole Di Tomasso According to Avison Young’s Canada Hotel Market Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as AverageDailyRate (ADR), Revenue Per Available Room (RevPAR) and occupancy. per cent (up 7.7
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. Our smart hotel platform helps you do exactly that.
For example, STR data reveals that the averageoccupancyrate across US hotels in August 2022 was 66.5%, and the averagedailyrate was US$151.49. Your index number tells you whether or not your hotel is outperforming your compset against three key KPIs: occupancy, ADR and RevPar. STAR summary.
These KPIs range from the daily operations to financial performance to sales and marketing and customer service. AverageDailyRate or ADR The AverageDailyRate or ADR is a popular KPI for hotel industry. The ADR is the averagerate at which each room at the hotel was sold on a given day.
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 (averagedailyrate), and lower pricing to increase occupancy.
The latest data from Amadeus’ Demand36 0® reflects this, with on-the-books global hotel occupancyrates for H1 2023 trending above 2022 and 2021 levels, and just 3 points behind those seen in 2019. In addition, global hotel averagedailyrates (ADR) are already above pre-pandemic levels.
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