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Meanwhile, the gateway markets of Sydney and Melbourne, underpinned by strong corporate and leisure-based demand and major event schedules, are expected to sustain elevated levels of international arrivals and translate this into continued performance growth,” said Craig.
Accor is investing its meetings and events offering across its Pacific portfolio to capture surging demand in the MICE market with major refurbishments and the launch of new hotels. The Asia Pacific region is reported to be the fastest-growing MICE market globally, with growth forecast at a CAGR of 10.0% from 2024 to 2030.
This years event is expected to draw record fan numbers an bring an increase of up to 10% in Melbourne city hotel room bookings, across main tournament days, according to Accommodation Australia. The 2025 Australian Open is in full swing and hotels across Melbourne are enjoying a flurry of activity as visitors descend on the city.
In Auckland there is an increased supply of hotel rooms that has impacted the numbers, while the city would benefit from a greater number of major events, Anderson said. New Zealands international visitor numbers sit at 86% of pre-Covid levels, with the Tourism Export Council of New Zealand forecasting a full recovery by March 2027.
Incorporate booking details, such as company/booking name, event dates, and expected number of attendees. Provide information about available room blocks and event spaces specific to their booking, accompanied by relevant photos and details. Here are some tips on how to accomplish this: Address the recipient by their name.
CBRE forecasts a 1.3% This represents slightly softer growth than had been anticipated in CBREs February forecast, which projected 2% RevPAR growth, based on a 21-bps boost in occupancy rates and a 1.6% CBREs forecast is predicated on an expected 1.4% annual growth as of the February forecast) and a 2.9% increase in ADR.
The real driver of profit is the number of delegates and attendees who spend on event space, food and beverage, guest rooms, and ancillary services. Growing revenue from meetings and events requires essential collaboration between Marketing, Sales, and Revenue Management : Marketing : Targets and attracts the right audiences and event types.
For example, Cloudbeds Intelligence analyzes billions of future-looking data points, including competitor rates, events, holidays, and search information, combined with a property’s own data to understand how every combination impacts profit. This on-demand access helps staff gain practical knowledge faster.
By analyzing real-time market data, booking patterns, and competitor pricing, AI-powered systems can automatically adjust room rates, forecast demand, and allocate inventory across channels more effectively than any human team. AI also helps optimize which channels to prioritize, ensuring availability where conversion potential is highest.
The “Opportunity Cost” approach developed at the time addressed challenges related to network effects, length-of-stay optimization and unconstrained demand forecasting. For example, stochastic models such as Markov Decision Processes and Monte Carlo simulations are now widely applied to forecast uncertainty and adaptively manage inventory.
The COVID-19 pandemic triggered sharp spikes in electricity and natural gas prices, and market volatility has continued due to market disruptions, geopolitical tensions and an increase in extreme weather events. According to the August 2024 edition of CBREs Hotel Horizons forecast report for the U.S. For instance, U.S. through 2026.
Good Morning Hospitality is for hospitality professionals, including hoteliers and property managers, looking to stay informed about current events and trends. Great Events Hosted by Cvent, Great Events focuses on the events industry, discussing best practices, trends, and insights into planning and executing successful events.
Leverage OTA data: Expedia manages over seven petabytes of data and offers hoteliers actionable insights through tools and support, helping shape pricing, campaign effectiveness, and demand forecasting.
Understanding Peak Season Dynamics Peak seasons vary based on location, climate, and cultural events. Predictive Demand Forecasting Predictive analytics utilizes historical data, market trends, and external factors to forecast future demand. Housekeeping Systems room turnover times, cleaning frequencies, flagged issues.
From improving personalized guest experiences to optimizing pricing, improving marketing efforts and enabling more accurate forecasting and better strategic planning, AI has proven time and time again that the more customer data you collect, the more valuable customer insights you will unlock. But thats not where the story ends.
Calculating EBITDAR: Step-by-step Lets take the example of a hotel that last year generated total revenue (from rooms, F&B, events, and other ancillary sources) of $4,500,000. F&B or events), tap into new market segments such as corporate or family groups, and implement upselling/cross-selling. Here are some tips to do that: 1.
The lack of new capacity makes it increasingly difficult to attract major conferences and marquee events and meet visitor demand. The Event Space: large, luxury hotels with meeting-and-event spaces The Big Brand: large, full-service hotels at an upper mid-market price point located near transit and attractions.
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex He will play a key role in analyzing investment opportunities, forecasting performance and guiding strategic decisions. At Dreamscape, Bussing will lead the evaluation of potential hotel projects and management opportunities.
Business Intelligence Agents: Forecasting with Real-Time and Historical Data Hotel forecasting has historically relied on manual reporting, static historical data, and siloed systems. AI-powered business intelligence agents now allow operators to synthesize data from the PMS, revenue management systems, and market sources in real time.
How to Plan for Seasons: Peak Season: Increase rates during festivals, holidays, and local events. Historical Forecasts Historical data helps you predict future demand and optimize rates. How to Use Forecasting: Analyze past trends for high-demand and low-demand periods.
On top of this is the incentive of meetings and events being booked at your hotel, since this is a large part of the corporate travel market, and becoming a preferred hotel for this type of business will lead to financial stability. Its also a good way to improve your hotels overall reputation.
With a defined baseline, you can easily adapt discounts and packages to market changes or special events without creating confusion or cutting into your bottom line.Finally, a clearly defined rack rate also gives you greater credibility and strengthens your reputation among industry partners as a reliable and well-managed property.
This launch represents a key milestone in expanding the reach of GroupSyncâs real-time group hotel booking capabilities and establishes a new standard for seamless integration in the meetings and events industry. âGroupSync Connect bridges the gap between event planning and hotel booking,â said Kemp Gallineau, CEO of Groups360.
This launch represents a key milestone in expanding the reach of GroupSyncâs real-time group hotel booking capabilities and establishes a new standard for seamless integration in the meetings and events industry. âGroupSync Connect bridges the gap between event planning and hotel booking,â said Kemp Gallineau, CEO of Groups360.
Smart channel managers like STAAH let you align promotions with local events, seasonal demand shifts, or booking windows without manually updating each OTA. Identify high-performing channels, forecast demand, monitor acquisition cost per booking, and refine your strategy in real time. And timing matters.
hospitality sector, with hotels forecasting notable drops in business travel revenue through 2025 and beyond. Virtual meetings are on the rise too â 24% of respondents have shifted in-person events online, compared to 19% earlier in the year. This mounting unease is expected to significantly affect the U.S. Pullback from U.S.
With the integration of actual data from PVNG, blended forecasts are available throughout the year to manage against budgets, identify trends and track the specific data needed to make changes to your plan. Clap resides in Connecticut with his wife and has two adult children.
Revenue management relies heavily on core principles such as data collection and forecasting. Forecasting: Using historical data and market trends to predict future demand and optimise pricing accordingly. And, what happens when an unforeseen event happens (think Covid-19)? Every area is a revenue opportunity.
The forecast points to small increases in airfare, hotel rates, car rentals, and meeting costs, though economic uncertainties remain a factor. Key takeaways Airfare forecast: Average global airfares are expected to increase by 0.4 Car rentals: Daily car rental rates are forecast to grow by 2.8 percent projected decline in 2025.
Real-Time Reporting & Forecasting: Access performance metrics and demand forecasts up to 365 days out. Flexible Automation: Use Autopilot to apply pricing recommendations automatically or retain manual control when needed. Predefined Segmentation: Leverage preloaded guest segments for faster setup and dynamic pricing.
Oaks Hotels has shared its forecast travel trends for 2025, based upon an analysis of guest data across its network of over 60 hotels in both bustling cities and scenic coastal destinations. In fact, four-bedroom apartments typically sell out first, followed by three-bedroom suites.
Champion Hotels, the largest privately-owned hotel operator in the United States, has selected STS Cloud as its group sales and event management platform, and already successfully onboarded 21 of its properties. âFinding the free time to analyze each cost in a mountain of data is a real challenge.
With market forecasts pointing to AI in hospitality exceeding $1.4 Julian Jacquez, President & COO, BCN Telecom 6/9/2025 The hospitality industry is entering a new era where artificial intelligence (AI), automation, and connected experiences are shaping every facet of guest interaction.
A record 950+ industry professionals from 32 countries gathered at the GBTA&WERC co&located event, as APAC is forecast to reach $679 billion USD in business travel spending in 2025
With the integration of actual data from PVNG, blended forecasts are available throughout the year to manage against budgets, identify trends and track the specific data needed to make changes to your plan. Clap resides in Connecticut with his wife and has two adult children.
By using predictive artificial intelligence, RaccoonRev Plus will generate daily rate recommendations up to 90 days in advance, factoring in signals like competitor rates, historical trends, pickup pace, weather forecasts, and lead-time behavior. âRaccoonRev Plus changes that.
This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing. Hotel managers can filter performance by date range, agent, tag, unit, or channel—generating actionable insights in seconds and identifying exactly where and when conversion issues are happening.
This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing. Hotel managers can filter performance by date range, agent, tag, unit, or channel—generating actionable insights in seconds and identifying exactly where and when conversion issues are happening.
You can also use integrated guest data to personalise offers, time promotions more strategically, and forecast with better accuracy. Here’s a quick comparison: Feature Hotel Motel Size Large, multi-story Small, 1–2 stories Amenities Extensive (gym, restaurant, etc.) The result?
Led by Mitch Patel, founder and CEO of Vision Hospitality Group, the Market Overview: Financial Analysis and Forecast panel discussed various topics affecting the hospitality industry including the economy and a potential recession, the transaction market, and the hotel development landscape.
Now, prices are set to stabilize further over the next 18 months, according to the latest edition of the annual Global Business Travel Forecast released by CWT and GBTA. After several years of pandemic&induced volatility and recovery&driven spikes, business travel prices began showing signs of moderation last year.
It offers customizable daily cleaning boards organized by zones or room types, supports various clean types, and forecasts housekeeping needs based on reservations. 6/10/2025 Cvent Launches CventIQ Cvent , an industry-leading meetings, events, and hospitality technology provider, announced the launch of Cvent IQ â¢.
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