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The sale, for an undisclosed amount, follows an exclusive off-market, invitation-only campaign. The sale come amid an ongoing expansion of Gold Coast Airport, with the planned addition of a retail village, health and wellness hub, and conference and tech centre.
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.
percent increase in averagedailyrate (ADR) with ten consecutive quarters of growth. Each factor is averaged to provide a final index score, ensuring a more accurate overall performance assessment. percent compared to 2024. Strong group performance continues. The Group Index was at 107.4 percent due to a 2.6
13, 2024 — Cendyn’s Sales Intelligence platform, previously known as Knowland, and Amadeus , a leading travel intelligence and technology provider for the travel industry, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “ Index ”). Houston / 120.0 Percent New Orleans / 118.0
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 occupancy rates , and ensure guests have a positive experience. These add-ons can increase the average amount each guest spends.
Table of contents SiteMinder solves online visibility woes Apart from providing the best service possible, hotels must not neglect the need to maximise their sales channels to boost revenue. Unfortunately this practice was difficult to achieve for Hanging Gardens of Bali.
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. the ever growing online marketplace, the guest has a lot of choices to make.
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
Significant sales included the Radisson Toronto Airport West, which sold for $28.9 Growth was largely driven by higher AverageDailyRates (ADR), which outpaced inflation. million, and the Best Western Plus Ottawa Kanata, which traded for $10.5 Overall occupancy levels remained flat, increasing by just 0.1
AverageDailyRate (ADR): Averagedailyrate can be used to calculate the averagerate at which occupied rooms are booked and is immensely useful to identify performance over time by drawing a comparison between the current and previous periods or seasons.
Your rates drop automatically to drive last-minute bookings, across all OTAs. Smart Promotions: Automated, Targeted Campaigns Launch last-minute deals, early-bird promos, or weekend flash sales across all OTAs from one dashboard. No more repetition. Just results.
In today’s competitive hospitality industry, well-structured sales and revenue strategies are the key to success. Occupancy rates, AverageDailyRate (ADR), and Revenue per Available Room (RevPAR) are just a few core metrics that can shape your decisions. This is the power of data-driven insights.
An example of a monthly income statement for the month of September: Category Amount ($) 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.
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.
percent increase in the averagedailyrate. percent increase in averagedailyrate (ADR). Each factor is averaged to provide a final index score, ensuring a more accurate overall performance assessment. This includes 103.4 percent of last year’s room nights and a 4.4 percent of last year and a 2.4
In fact, concert-goers often flood the local hotel market, with occupancy rates 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.
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.
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 percent 10.
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.
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.
It involves forecasting key metrics such as demand, occupancy, averagedailyrate, and RevPAR (revenue per available room). Revenue management forecasting enables hoteliers to maximize their potential by predicting future demand, projecting room sales, estimating averagedailyrates, and determining total revenue.
This includes both historical and forward-looking, on-the-books data, allowing hoteliers to understand anticipated travel volumes and plan revenue, sales, marketing, and operational strategies accordingly.
What drives more value to the business, ADR, averagedailyrate, or occupancy? You will find it below expressed in a simple formula: Occupancy x Rooms Available x AverageDailyRate (ADR) = Room Revenue Room Revenue can also be expressed in a KPI (key performance indicator) called Revenue per Available Room, or RevPAR.
percent By using industry-leading data from the Knowland platform and trusted sales & catering solutions like Amadeus’ Delphi ®, hoteliers can develop precise, data-driven strategies to boost group sales and efficiently manage the entire process from lead to event execution. Nashville 101.3 percent 13.
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.
What drives more value to the business, ADR, averagedailyrate, or occupancy? You will find it below expressed in a simple formula: Occupancy x Rooms Available x AverageDailyRate (ADR) = Room Revenue Room Revenue can also be expressed in a KPI (key performance indicator) called Revenue per Available Room, or RevPAR.
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.
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 occupancy rates and guest satisfaction scores. It can be calculated by multiplying your averagedailyrate by your occupancy rate.
Whether hotel revenue managers are looking for information on their averagedailyrate (ADR), room nights, or revenue pipeline, the entire process is streamlined for them and removes the need for manual searches.
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. billion of that total.
HOTEL TECHNOLOGY Sales & Catering In 2023, business intelligence provider Knowland collaborated with Amadeus to create the quarterly Group & Business Performance Index. Amadeus and MeetingPackage also partnered to offer meeting room sales management software in addition to Amadeus’ own sales & catering software suite.
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. Table of contents What is a hotel availability forecast? Knowing what each metric represents will provide a clearer picture of your hotel’s performance and areas of improvement.
Global hotel averagedailyrates (ADR) are also above pre-pandemic levels, standing at US$216 for June this year, compared to US$184 in the same month of 2019. Against this backdrop of growing numbers and high traveler expectations, the industry needs to be proactive and nimble in meeting evolving traveler needs.
Financial analysis When EBITDAR is combined with other metrics, such as ADR (averagedailyrate), occupancy rate, 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.
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. How easy is it for you to generate hotel ROI reports of: Your best performing booking sites?
Hotel revenue managers can use a revenue management system to help better understand trends in which they can modify the supply of rooms and adjust a pricing strategy whereby rates are implemented with the aim to increase sales and profitability. To benchmark for this, the AverageRate Index is a good way of looking at this.
The latest data from Amadeus’ Demand36 0® reflects this, with on-the-books global hotel occupancy rates 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.
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. However, this should always be assessed in relation to sales strategies. How is ARI calculated?
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.
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