Hotel Speak

DECEMBER 11, 2023

This allows properties to be more responsive to temporary demand shifts such as the announcement of a local event or a weather event that could reduce the number of people travelling to your location. 6) Time to get rigid with cancellations Make packages a common offering as high cancellation rates start affecting forecasting and revenue.

Revenue 54

Revenue Revenue Management Cancellation Hotels 54

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. The average cancellation rate is 20%.

Occupancy 59

Occupancy Hotels Average Length of Stay Revenue 59

Hotelier Magazine

DECEMBER 14, 2023

The major metropolitan areas, including Toronto, Montreal and Vancouver, also drove a large portion of the gains in 2023 as a result of strong meeting and group demand, much of it pent up from prior-year cancellations. billion for the year, which is slightly below 2022, and the forecasted $2 billion in trades.

Forecasting 52

Forecasting Cancellation Hotels Closing 52

eZee Absolute

MAY 13, 2024

Revenue Forecast Report Looking ahead is crucial for any successful revenue management strategy. Just as the name suggests, the revenue forecast report is all about projecting your hotel’s future revenue potential. No, it’s no magic crystal ball.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

STAAH

NOVEMBER 8, 2022

Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. With most hoteliers still relying on domestic travellers, the prime booking window is 0-3 days for business properties, out of which same day booking is the strongest,” says Kamal Kishore from Redsky Hospitality.

Revenue Management 72

Revenue Management Revenue Management Forecasting 72

eZee Absolute

SEPTEMBER 22, 2023

They usually come with flexible booking and cancellation policies, allowing guests to make changes or cancel reservations without incurring significant penalties. Non-Refundable Rates: Non-refundable rates are typically lower than standard rates but come with stricter cancellation policies.

Revenue 52

Revenue Management Occupancy Revenue Management 52

Catala Consulting

JULY 30, 2023

Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions. These forecasts are instrumental in strategic planning, enabling resorts to manage their resources effectively and maintain a consistent revenue stream all year round.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Hotelogix

DECEMBER 25, 2023

It leads to rate and inventory parity, improved channel visibility, and enhanced market reach to attract a broader traveler base. This way, your travel agents and corporate clients can experience a simpler and hassle-free booking experience while saving time. Ultimately, all these result in more sales and revenue. 

Revenue 59

Revenue Sales Hotels Shopping 59

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.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

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. You can run the report by check-in or checkout date.

Management 59

Management Occupancy Revenue Average Daily Rate 59

Hotel Business

DECEMBER 23, 2022

When traveling for work or pleasure, time is of the essence. Recent research found that for the survey respondents who had already traveled for leisure or business this year, 79% said they experienced at least one problem during their trip. By Speleos Dravillas. We know disruptions are sometimes unavoidable. Let’s think about habits.

Travel 59

Travel Cancellation Revenue Forecasting 59

Hotelogix

NOVEMBER 13, 2023

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. That’s how a proper forecasting would allow you to make necessary changes in your room rates, based on demand and expected occupancy.

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

Social Tables

JANUARY 14, 2022

Many hospitality conferences and conventions were virtual or hybrid events , while others were forced to cancel altogether. 2021 also brought about many exciting developments in hospitality technology, digital marketing, hotel services, and changes in travel trends. Mountain Travel Symposium.

Hospitality 158

Hospitality Events Tourism Business 158

SiteMinder

OCTOBER 15, 2023

A static rate would be unaffected by external factors such as fluctuations in traveller demand or changes in competitor behaviour. Improve forecasting – Compare historical data with current market conditions to get an idea of what you can set your rates at in the future.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Inn Quest

MAY 11, 2023

With travel restrictions lifted, hotels are gearing up to welcome guests again. With the rise of alternative accommodations and online travel agencies, hotels need to adopt new strategies to attract customers and increase revenue. Positive word-of-mouth advertising can also help improve their reputation and bring more guests.

Revenue 88

Revenue Occupancy Hotels Market 88

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.

ROI 98

ROI Average Length of Stay Hotels Revenue 98

Cloudbeds

MARCH 20, 2023

One of the key reasons travelers are drawn to smaller, independent lodging properties is they provide personalized, intimate experiences. Transient These guests are individuals traveling for business or leisure. Group These guests travel with a group that has reserved a block of rooms in advance at a special group rate.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

TravelNet

JUNE 26, 2023

With economic uncertainties, travelers are more cautious and are likely to spend less than they used to. Take time to reexamine your cancellation policy, rates, and fees. Offering discounted rates or special promotions for these nights can attract last-minute travelers and maximize occupancy. With flexibility comes more revenue.

Revenue Management 52

Revenue Management Revenue Occupancy OTA 52

gcommerce

FEBRUARY 13, 2023

Online Travel Agent sites (OTAs) compete heavily on these channels to steal market share. This type of model covers the up-front media required to run campaigns and you pay a commission net revenue (after cancellations). The property achieved a 180X ROAS during one of the most challenging times in the history of travel.

Digital Marketing 52

Digital Marketing Market Marketing Cost Per Click 52

Xotels

NOVEMBER 23, 2023

These Ryokans were like cosy rest stops for travellers, marking the early roots of the hospitality scene. These inns weren’t just places to sleep; they were cultural hubs, offering rest and stories to tired travellers navigating their way through a world that was becoming more interconnected. Interested in working at Xotels?

Management 40

Management Revenue Management Hotels Operations 40

Xotels

NOVEMBER 23, 2023

These Ryokans were like cosy rest stops for travellers, marking the early roots of the hospitality scene. These inns weren’t just places to sleep; they were cultural hubs, offering rest and stories to tired travellers navigating their way through a world that was becoming more interconnected. Interested in working at Xotels?

Management 40

Management Revenue Management Hotels Operations 40

Up Hotel

MARCH 22, 2021

or have they mostly been through Online Travel Agents (OTAs)*? Hotels can offer a fixed-rate voucher to future guests with flexible cancellation or date rearrangement policies, meaning that anyone can book a stay, pay upfront, and stay whenever they like (or, in this current climate, whenever they can).

Digital Marketing 52

Digital Marketing Hotels OTA Business 52