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.
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? How can you forecast effectively at your hotel?
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SiteMinder
NOVEMBER 30, 2023
What are travel statistics? Travel statistics refer to data and information related to various aspects of the travel industry, such as travel trends, traveller behaviour, tourism spending, accommodation metrics, and more. Some highlights include: Air travel passengers are expected to reach 9.4
SiteMinder
DECEMBER 4, 2023
This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. Online travel agencies make up the top two revenue generating positions in 79% of major destinations. The average booking lead time for hotels is 29.7
Little Hotelier
NOVEMBER 6, 2023
Economic factors There will be periods of economic hardship when certain guests don’t have money to splurge on travel. There will also be good times when more people are travelling than ever. Adjust pricing Forecast demand and adjust your room rates well ahead of time.
Little Hotelier
AUGUST 29, 2023
Connecting To Online Travel Agents Partnering with a variety of online travel agents is necessary for B&Bs to connect with global customers. Income: Forecasted and other expected revenue. Dedicating a proportion of your budget towards signs will improve walk-in bookings and give your B&B brand a facelift.
Little Hotelier
JULY 10, 2023
The bigger your property, the longer your min stay can be Guests will often book larger properties for longer because there are more services and amenities available, and they may be in a larger city where there is more for travellers to explore. For example, leisure guests generally stay longer than business guests.
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