Hotelogix

NOVEMBER 12, 2023

Plus, it also provides you with information on rooms per day (RPD) and occupancy percentage for the past 10 days and its forecast for the next 30 days. You can also view the number of rooms that are marked as available, occupied, complementary, cancelled, no-show, day use, etc.

Management 59

Management Occupancy Average Daily Rate Revenue 59

Hotelogix

NOVEMBER 13, 2023

It would help you sell more rooms and boost your occupancy. Additionally, at low demand seasons, when your occupancy is low, you can charge less for your room to attract bookings. #2 2 Forecasting-Based Pricing It is all about tweaking your hotel room price while forecasting the number of rooms that would be available for future dates.

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

Hotelier Magazine

DECEMBER 14, 2023

After reaching a RevPAR peak in 2022, the market RevPAR is on pace to grow another 15 per cent in 2023, driven by strong growth in both occupancy and ADR. billion for the year, which is slightly below 2022, and the forecasted $2 billion in trades. In Canada, the year 2023 set new benchmarks for the hotel industry.

Forecasting 52

Forecasting Cancellation Hotels Closing 52

Inn Quest

APRIL 3, 2023

Utilizing cloud-based hotel management software can simplify room block management and provide real-time updates on room availability, bookings, and cancellations. Accurate forecasting is another critical aspect of revenue management, allowing hotels to price confidently and prepare for high-demand seasons and special events.

Operations 88

Operations Revenue Management Forecasting Revenue 88

SiteMinder

OCTOBER 15, 2023

For example, in the morning you may have lower rates because your occupancy is low and demand is not strong. Dynamic pricing can be an important strategy for a hotel that’s looking to optimise occupancy and maximise profit. This will allow them to capitalise on opportunities to boost occupancy and/or maximise revenue.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Hotelogix

DECEMBER 25, 2023

The dynamic pricing feature allows you to sell at the best rates to increase sales, occupancy, and revenue based on your hotel's occupancy, guests' booking window, length of stay, etc. Just publish it for all the booking sources at the central level. You can create different packages for each property with a cloud Hotel PMS.

Revenue 59

Revenue Sales Hotels Shopping 59

STAAH

NOVEMBER 8, 2022

The second of our two-part blog series on revenue management looks beyond challenges towards trends emerging from dwindled demand, patchy recovery and flipping of established revenue management processes to forecast and inform pricing. If you’re lost amidst volatile demand and ineffective conventional forecasting methods, don’t worry.

Revenue Management 71

Revenue Management Revenue Management Forecasting 71

Cloudbeds

MARCH 8, 2024

It ensures all financial aspects of your hotel business are kept up to date and provides valuable reporting and forecasting tools to help hoteliers make smart, data-driven decisions. By being flexible with your pricing, you can maximize your revenue per available room (RevPAR, for short) and occupancy rates.

Forecasting 52

Forecasting Revenue Hotels Revenue Management 52

Little Hotelier

NOVEMBER 6, 2023

Adjust pricing Forecast demand and adjust your room rates well ahead of time. Manage no-shows and cancellations No-shows and late cancellations can be damaging to your revenue optimisation efforts, so you need to craft a fair policy, ensure all guests understand it, then enforce it to the letter.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Xotels

APRIL 3, 2024

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

NOVEMBER 30, 2023

Travel stats might include travel volume, popular destinations, travel spending, occupancy rates and other accommodation data, transport stats, traveller demographics and motivations, and other insights such as trends around sustainable travel. But what do the statistics say about family travel? Learn more about the report here.

Travel 52

Travel Accommodation Tourism Hotels 52

STAAH

MAY 16, 2023

Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates. 3) Forecasting Forecasting is the lifeblood of revenue management. Also known as a non-refundable rate.

Revenue Management 85

Revenue Management Upsell Occupancy Rack Rate 85

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Even if occupancy rates do not rise, this can help hotels raise their profit margins. A Rise in Profitability: Effective pricing strategies can also boost a hotel’s profitability.

Revenue 88

Revenue Occupancy Hotels Market 88

Little Hotelier

AUGUST 29, 2023

Prioritising your investments correctly will ensure your budget spend is contributing towards increased revenue and occupancy rates. Income: Forecasted and other expected revenue. Your occupancy rates? Top strategies to increase hotel ROI Increasing knowledge and making smart investments is crucial for B&B operators.

ROI 98

ROI Average Length of Stay Hotels Revenue 98

TravelNet

JUNE 26, 2023

Take time to reexamine your cancellation policy, rates, and fees. By leveraging data and analytics, owners can optimize their pricing strategies to capture more bookings during peak periods and incentivize occupancy during off-peak times. Analyze occupancy rates, revenue trends, guest reviews, and market competition on a regular basis.

Revenue Management 52

Revenue Management Revenue Occupancy OTA 52

Hotelogix

OCTOBER 18, 2023

Reduce error and save time: It speeds up everything - from accepting reservations over the phone, sending confirmation emails, upgrading rooms, canceling/modifying reservations, assigning rooms, marking housekeeping tasks, checking in, bill creation, checking out, and even sending out feedback forms to guests.

Management 52

Management Hotels Revenue Occupancy 52

Protel

FEBRUARY 15, 2022

From this screen, you can quickly check guests in and out, check availability and view the week’s projected occupancy. From these lists, you can further control different aspects of your operation, including canceling reservations, types of payments, meal plans, and much much more.

Cancellation 52

Cancellation Hotels Events Occupancy 52

Hotelogix

OCTOBER 19, 2023

It also aids in managing reservation cancellations and modifications, accepting reservations, sending confirmation emails, extending self-service facilities to guests, processing payments, etc. The primary objective is to help hotels sell more at the best rates to the right guest to boost occupancy and revenue. 

Hotels 52

Hotels Revenue OTA Management 52

Cloudbeds

MARCH 20, 2023

When demand is strong in multiple market segments, properties have more opportunities to increase occupancy and room rates. arrival and departure days, average length of stay) Preferred room types Average daily rate and revenue per booking Cancellation rates Identify your most valuable market segments.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52