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Due to November being a traditionally busy month for Australian tourism, we can expect to see the tour’s impact reflected significantly on room rates rather than occupancy.” days this year, suggesting that the spike in bookings has primarily been fuelled by concertgoers choosing shorter stays focused around the event. to A$481.20.
For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. While better than operating without data, this approach is reactive and inefficient, resulting in missed opportunities.
While booking volumes and lead times are increasing, the averagestaylength for Easter 2025 has declined by 3.43%, dropping from 2.33 with the averagelength of stay falling to 2.24 days globally. This shift is occurring alongside changes in traveler origins. The same is true in the U.S., days in 2024.
Unlike traditional online travel agencies focused only on short-term stays, Blueground also serves the extended-stay market – guests booking 30+ days who prioritise comfort, consistency, and flexibility. What is the opportunity around extended-stay revenue?
Shah explained how the firm has stayed ahead of the curve. Leading up to the fourth quarter of last year, we really felt like there were strong secular demand trends emerging in our business,” he said. “We We grew rates in our upscale select-service and upscale extended-staybusiness by 3x the pace of inflation.
The companys growth has allowed it to attract a more resilient and higher income customer, including more business travellers who now represent 40 per cent of all stays. In Q4 2024, group business revenue jumped 45 per cent year-over-year, and transient business revenue in upper midscale rose 20 per cent.
To thrive in the unpredictable business environment is no mean feat. So, whether it is assessing yourself through a RevPAR formula or scoring yourself as an ADR hotel, you may have often wondered if these are enough and what those key performance metrics are that you must weigh your business on.
Bookings via global distribution systems (GDSs) rose as business travel continued to resume with force in 2022. Travelers incrementally increased their hotel stays, with the averagelength of stay growing only slightly in 2022 to 1.93
Expatriates, Digital Nomads, Students, and Business Travellers seek their new stay outside of their domestic countries for a longer stay. With 60+ million expatriates globally seeking a housing solution, there is a huge market for offering a long-stay of minimum 3 months , up to as much as allowed by the local laws.
ALOS abbreviates ‘averagelength of stay.’ It refers to the average number of nights guests stay at your property over a given time. days on average. On the other hand, city properties with a focus on business travellers usually see guests stay fewer days. Table of contents. What is ALOS?
But until you figure out which datapoints you can use in your business plan and make good decisions about what you and your guests need to do in the future, that data may not be as valuable as it could be.” Your average booking and your averagelength of stay are all things that can be aggregated well.
While this has always provided powerful knowledge, this year we wanted to take it further and give your business even more actionable insights. For many years, SiteMinder has released annual data detailing the top revenue making channels for hoteliers.
Connor Llewellyn Ryterski , managing director, prizeotel: “We expect sustainability to remain a key focus for 2023, with hospitality businesses working towards ambitious emission reduction targets to become net zero, which is something we and the wider Radisson Hotel Group aim to achieve by 2050. . “We
And hoteliers are set to benefit, with ADRs for the period increasing by an average of almost 10% across all cities, from £201 in 2024 to £221 in 2025. A further indication of the tour’s impact can be seen via staylength. The averagelength of stay has reduced by over 10% to 1.33
Additional data from SiteMinder’s Hotel Booking Trends indicated that the averagelength of stay is also on the rise, with 2022 recording longer stays than previous years. This was particularly true for Spain in summer, which had the longest averagestaylength in August.
The aim is to generate a hotel return on investment (or hotel ROI); money that you can either reinvest in the business or extract as profit. It could be that you’re buying a hotel business or investing in one you already own through things like property extensions and renovations, hotel marketing, employee training and hotel software.
Future product enhancements, which are expected to begin rolling out later this year, include portfolio-level benchmarking, monthly P&L, average-length-of-stay data and forward-looking occupancy.
The slower reopening of amenities and the delayed return to certain segments of the business have resulted in margins exceeding 2019’s levels on a short-term basis,” said Rothman. “As As amenities reopen, group and FIT business travel return, and hotel revenues shift toward lower-margin F&B, spa, etc.,
It is a crucial step in applying this data for the benefit of the hotel’s business. For example, when you identify the market segment that offers your hotel the longest stays you can focus on this segment to drive up the averagelength of stay in your property. Leisure and business travel. Day of week.
To ensure continuous improvement and success, hospitality businesses must adopt effective methods to measure guest satisfaction. The bottom line benefits of guest satisfaction in hospitality industry are customers’ recommendations and repeat business. Take a look at your target audience and the things they value.
Hotel KPI or Hotel Key Performance Indicator is the value that can be measured and which lets you set a standard to measure the success rate of your hotel business as to how is it faring in the market. The rate of occupancy is crucial to plan the operations of the hotel business.
Occupancy, ADR, and RevPAR are all down compared to 2021 and 2022 (but higher than 2019); booking windows and averagelength of stay are down, and; shoulder season performance is slightly up. Not only can you drive more business to your own website and booking engine, but you must.
Bookings via global distribution systems (GDSs) rose as business travel continued to resume with force in 2022. Travellers incrementally increased their hotel stays, with the averagelength of stay growing only slightly in 2022 to 1.93
Watch your competitors to gain an edge If you notice that your closest competitors have set a longer than average minimum stay, you can win guests over by setting yours comparatively shorter since they’ll feel they have more flexibility with you. For example, leisure guests generally stay longer than business guests.
Through Wyndham Community, owners can access real-time insights on key business metrics across their portfolio, from anywhere and any device, while also keeping tabs on high-priority tasks and other key action items. It’s driving a longer averagelength of stay and a higher ADR, driving, on average, $22,000 in revenue,” he said.
Revenue and profit are always important, but more specific KPIs around averagelength of stays may not always be as integral to highlight in hotel metrics reports. ALOS – Averagelength of stay tells you how long your guests stay with you on average.
In the hotel business, tracking the right performance indicators is non-negotiable. AverageLength of Stay (LOS) LOS measures how many nights guests typically stay. A longer averagestay reduces turnover costs and increases profitability per booking.
What many lodging businesses overlook are the different ways direct bookings can be captured. A booking engine is a platform used by lodging businesses to capture direct bookings anywhere a guest might be online. These reports can shed light on booking trends, averagelength of stay, and guest preferences to help guide decision-making.
With the averagelength of stay lengthening, IRS is an invaluable tool for hotels to sell and convert these longer-stay bookings. If you’re not currently working with Bookassist, but would like to hear more about the value we could drive for your business, simply contact us and a member of the team will be in touch soon!
They get to the heart of what a hotel business is, and are critical to understand if you are to succeed in a competitive market. A hotel needs to price itself appropriately in order to win business, so it’s wise to research what local competitors are charging. What is hotel revenue optimisation? So what is revenue optimisation?
Your average daily rate. Averagelength of stay. Ensure good quality data is collected, including specific channel performance, travel types (business or leisure for example), guest demographics, and drilled down metrics like RevPAR. Your occupancy rate. Your total revenue. Booking lead times.
The importance of forecasting in hotel industry businesses cannot be understated. Factors that affect hotel demand forecasting Hotel forecasting means different things to different hotel businesses. Hotel forecasting methods and process Demand forecasting in hotel industry businesses can take a few different forms.
Yield management is a pricing and revenue management strategy that is used to maximise business performance. This will vary depending on when someone is buying – hotels will often provide discounts for early bookers, offer lower rates on Sundays, enforce minimum stays etc. You can also use seasonality to help drive regional business.
This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. The average booking lead time for hotels is 29.7 The averagelength of stay is 1.93 The average cancellation rate is 20%. more and stay 28% longer.
Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business. Precise forecasting, less work Make smarter decisions for your hotel with SiteMinder’s hotel business intelligence. Stay updated with local events and holidays that can spike demand.
But I would say if I was to sort of synthesize it down, the number one thing we’ve all learned is that maybe it was something we already knew, but we honed in on it more, is that flexibility and the willingness to innovate is essential to navigating difficult business environments. So what does that look like this year for you?
Transient These guests are individuals traveling for business or leisure. Some hotels break down transient business into subgroups such as OTAs, direct bookings , packages, and consortia. Corporate negotiated These guests are business travelers who work for a company that has a negotiated account with the property.
Almost 40% of US travellers plan to upgrade their flight to business or first-class in the next 12 months. Here’s what data to stay on top of: 86% of UK travellers think the industry is average or behind when it comes to tech adoption. France tourism statistics Ever a busy hub for travel, France tourism is rarely not booming.
Key performance indicators (KPIs) permeate every successful hotel; it’s crucial that you know at all times how you’re tracking towards any key goals and objectives you have outlined for your business over a certain period of time. ALOS – Averagelength of stay tells you how long your guests stay with you on average.
For data to be useful, however, hotels must leverage business intelligence software to gather and manage vast amounts of data across systems and put it together in a way that delivers actionable insights. Basic KPIs include average daily rate (ADR) , occupancy (OCC), revenue per available room (RevPAR), and averagelength of stay (ALOS).
With hindsight, Airbnb is not only a growing business that has just received a bullish rating by global investment firm AB Bernstein for how it ‘uniquely inspires’ customers, but it also hosts hotels on its platform. Perhaps the question never should have been about competition, but about distribution.
When travelers stay longer, they foster deeper relationships with the staff and have a better guest experience because of it, contributing to the hotel’s long-term success.” Overall, the data reveals averagelength of stay patterns in 2023 showed relative consistency with previous years.
SAN DIEGO, CA) March 16, 2023 — Cloudbeds, the hospitality management platform powering more reservations and happier guests for lodging businesses around the globe, today announced the launch of its inaugural State of Independent Lodging Report. The next most popular length of stay was 3 to 4 nights.
In North America, the average booking window exceeded 2019 levels by five days; in Europe, two days. Meanwhile, ongoing travel restrictions in the Asia Pacific region kept the booking window five days short of the 2019 average. Length of stay Most travelers within the data set booked stays of 1 to 2 nights over the last four years.
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