This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Evidence-Based Action, Not Intuition Hospitalitymanagers often operate under pressure, needing to make rapid decisions about staffing, pricing, and service delivery. This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing.
Evidence-Based Action, Not Intuition Hospitalitymanagers often operate under pressure, needing to make rapid decisions about staffing, pricing, and service delivery. This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing.
We certainly felt the impact, especially going into March,” says Christopher Ellison, Vice President of Revenue at Brittain Resorts and Hotels, a full-service hospitalitymanagement company based in the Southeast region. According to Tourism Economics’ latest forecast, 2025 remains on track to achieve over 1.6
By generating reports and analytics, the PMS provides valuable insights into occupancy trends , revenue performance, and guest preferences. A robust PMS provides insights into occupancy trends, revenue metrics, and guest behavior patterns, allowing hoteliers to forecast demand and adjust strategies accordingly.
From chatbots that handle customer inquiries in seconds to algorithms that predict travel demand, AI is unlocking new possibilities in hospitalitymanagement and customer service. Conversely, during low-occupancy periods, prices can be lowered to attract more bookings while still maintaining profitability.
IHG’s Joanna Kurowska highlighted that while early signs of Labour’s intent to support hospitality were positive, “we haven’t seen any action yet”. Recovery: A Mixed Bag STR’s latest data highlighted the UK’s global leadership in hotel occupancy, boasting a robust 77%. Robert Shrimsley, Financial Times 2.
Silicon Valley-backed Hyper Nimbus has introduced its fully integrated, AI-powered hospitalitymanagement solution. Sales & revenue: Hyper Nimbus connects with existing revenue management and tracking systems utilized by hotels to evaluate sales performance across each channel.
Hoteliers can also use a channel manager to seamlessly connect with popular OTAs such as booking.com, Expedia, AirB&B, etc. Integrated platforms help increase the hotel’s visibility, maximize occupancy, and decrease overbookings. A Revenue Management System can simplify distribution and increase conversion.
For example, a hotel pays the same rent and property taxes whether it’s running at 30% occupancy or 100% occupancy. Examples of fixed costs in hotels include: Payroll-related expenses Rent or mortgage Property taxes Insurance Fixed monthly bills like cable and internet Franchise and management fees (if applicable) Technology (E.g.,
Occupancy remains high overall, though around zero growth nationally. STR forecasts RevPAR growth to be about 1.1% STR RevPAR Forecast ] Slow and steady revenue growth is keeping the industry optimistic, but it’s the profitability which is worrying some hotel investors and management companies. in 2020. [
Examine automated reports frequently to detect early industry trends in parameters like rates, revenue per available room, and occupancy. Hoteliers can use automated revenue management solutions to forecast pricing accurately, ensuring they are ready for high-traffic seasons and events.
Revenue management The use of AI systems has made it possible for revenue managers to be more dynamic in their revenue management strategies. Demand forecasting Traditionally, revenue management systems optimized rates by analyzing historical data and relying on predefined rules and manual adjustments.
26, 2024 – Cloudbeds, the hospitalitymanagement platform powering more reservations and happier guests for independent lodging businesses around the globe, today released its 2024 State of Independent Lodging Report. Key findings from the report include: Occupancy patterns are projected to remain consistent in 2024.
San Diego, CA Cloudbeds , the innovative leader in hospitalitymanagement technology, and Duetto , the industrys leading revenue management software provider, announced a strategic partnership to empower hoteliers with advanced tools for optimizing revenue and operational efficiency.
San Diego, CA, February 28, 2024 – Cloudbeds , the hospitalitymanagement platform powering more reservations and happier guests for independent lodging businesses around the globe, today released its 2024 State of Independent Lodging Report.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content