Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Hotel forecasting reports are built on a foundation of data.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Demand Calendar

APRIL 25, 2023

Destination demand forecasting estimates the overall daily demand for hotel rooms in a particular destination. This type of forecasting is essential for understanding the total demand for accommodation in a destination.

Forecasting 64

Forecasting Occupancy Accommodation Revenue 64

Hotel Business

FEBRUARY 10, 2023

Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for Feb. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. The overall Phoenix market comprises 544 hotels accounting for 70,488 rooms.

Forecasting 105

Forecasting Average Daily Rate Occupancy Consumer 105

Hotel Business

AUGUST 21, 2023

Boutique hotels continue to report solid occupancies and healthy ADRs, and collectively achieved increases in all performance indicators through June, according to the Boutique Hotels: Mid-Year 2023 report from The Highland Group. At mid-year 2023, boutique hotel occupancy levels indexed ahead of all U.S.

Occupancy 98

Occupancy Hotels Revenue Branding 98

Hotel News Resource

MAY 2, 2024

Surging inbound tourism will help boost Australia's hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.

Occupancy 45

Occupancy Tourism Forecasting Hotels 45

Hotel Business

DECEMBER 12, 2022

Hotel management system provider RoomRaccoon has unveiled its annual global report, RoomRaccoon Report 2022, “A Year of Impact: What’s Next?” In August, RoomRaccoon’s clients in Europe had record-breaking occupancy levels averaging 64% in comparison to 61% in August 2019. Hotels are generating better revenue.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

Lodging

JANUARY 29, 2024

HENDERSONVILLE, Tennessee—Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for Feb. The market is projected for a Friday through Sunday night occupancy of 87.9 9-11, 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.

Average Daily Rate 276

Average Daily Rate Forecasting Occupancy Revenue 276

Lodging

JANUARY 30, 2024

WASHINGTON—Hotels are projected to pay a record amount of wages and generate a record level of tax revenue in 2024, according to the American Hotel & Lodging Association’s 2024 State of the Hotel Industry report.

Forecasting 159

Forecasting Occupancy Hotels Revenue 159

Hotel Management

FEBRUARY 13, 2024

Hotels across Melbourne and Sydney are feeling the star power of global music icon Taylor Swift as fans flock from all over to attend the sold-out Eras Tour concerts, taking place over the next two weekends. What we’re seeing with Taylor Swift tour is a phenomenon and particularly noteworthy,” Jones told HM. “In

Occupancy 290

Occupancy Tourism Events Accommodation 290

Hospitality Net

NOVEMBER 3, 2023

Palladium Hotel Group has concluded the 2023 summer season in the Balearic Islands and Marbella with very positive closing figures. The hotel group forecasts a similarly positive winter season for its hotels in Tenerife, Madrid, the Caribbean and Latin America.

Forecasting 185

Forecasting Occupancy Closing Revenue 185

Hotel Business

APRIL 15, 2024

hotels’ RevPAR growth was negative for the third straight month, down 1.5%, according to the CBRE report U.S. Hotels State of the Union April 2024 Edition. decrease in occupancy, which was driven in part by a 1.3% This is 61 basis points higher than previously forecast. decline in hotel demand.

Occupancy 59

Occupancy Consumer Forecasting Market Share 59

Hospitality Net

MAY 24, 2023

CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains.

Forecasting 180

Forecasting Occupancy Hotels 180

Hotel Management

AUGUST 31, 2023

It’s a mixed bag at present when it comes to global hotel performance, with key segments booming and others now lagging, but the outlook overall is positive. The post Exclusive video: STR President Amanda Hite’s global performance expectations appeared first on Hotel Management.

Forecasting 264

Forecasting Occupancy Management Hotels 264

Hotelogix

NOVEMBER 19, 2023

As a hotelier, boosting the occupancy rate is critical to running a successful business. In a highly competitive industry, you must attract and retain guests to increase your property's occupancy rate and revenue. This article will explore various ways to improve hotel occupancy rates and the role of technology in it. 

Occupancy 59

Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

STAAH

AUGUST 22, 2023

With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. In this blog, we look at some ways to keep your hotel thriving during these tougher periods.

Occupancy 77

Occupancy Forecasting OTA Revenue 77

Hospitality Today

JANUARY 22, 2024

percentage points, while occupancy and RevPAR were unchanged from the previous forecast For 2024, growth in ADR was raised by 0.1

Forecasting 40

Forecasting Occupancy Hotels 40

Hotelier Magazine

AUGUST 16, 2023

hotel forecast presented at the recent 15th annual Hotel Data Conference. per-cent downgrade in occupancy growth. per-cent downgrade in occupancy. The post STR and Tourism Economics Lower Growth Forecast for U.S. Hotels appeared first on Hotelier Magazine. per cent, due to a 0.6- per cent on a 0.5-per-cent

Forecasting 52

Forecasting Tourism Average Daily Rate Occupancy 52

Hotel Management

MARCH 14, 2024

New Zealand’s hotels are experiencing a long-awaited resurgence in bookings thanks to higher numbers of international visitors entering the country, according to the latest research by JLL. Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels.

Occupancy 130

Occupancy Events Tourism Hotels 130

Hotel Business

NOVEMBER 16, 2022

hotel bookings for the Thanksgiving holiday. occupancy for Thanksgiving week is at 29%, pacing 1% higher than 2019 levels. Based on hotel booking data in the weeks leading up to the holidays, this year is on track to exceed 2019 performance. markets with occupancy at more than 50% matches 2019 levels for Thanksgiving week.

Occupancy 59

Occupancy Forecasting Market Marketing 59

Hotel Business

NOVEMBER 16, 2023

CBRE is forecasting RevPAR growth to recover in 2024 as inbound international travel further improves and sector-specific headwinds moderate. The company forecasts 3.0% RevPAR growth next year, driven by a 40 basis-point (bps) occupancy improvement and a 2.3% CBRE’s baseline forecast anticipates 0.8% ADR increase.

Forecasting 110

Forecasting Occupancy Scale Consumer 110

Hospitality Net

OCTOBER 2, 2023

Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance.

Revenue Management 186

Revenue Management Revenue Management Forecasting 186

eHotelier

NOVEMBER 27, 2022

STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2022.

Forecasting 52

Forecasting Average Daily Rate Occupancy Tourism 52

Hotel Business

DECEMBER 4, 2023

this year to $155.88, or 19% above 2019 levels, while occupancy will increase by 1.0% increase in occupancy. LARC forecasts 2023 U.S. hotel earnings before interest, taxes, depreciation and amortization (EBITDA) to grow 5% and hotel values to increase 3%. It anticipates ADR to rise by 4.4% increase in ADR and a 0.8%

Forecasting 110

Forecasting Occupancy Market Marketing 110

Hospitality Today

OCTOBER 5, 2023

The company used its internal data coupled with International Monetary Fund's inflation forecasts to forecast hotel rate movement in more than 80 cities

Occupancy 40

Occupancy Forecasting Hotels 40

eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? Flash Report Flash Report presents the summary of hotel performance metrics.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hotel Business

FEBRUARY 15, 2024

CBRE is forecasting RevPAR will continue to grow steadily in 2024, driven by improving group business, inbound international travel and traditional transient business demand. The company forecasts a 3% increase in RevPAR growth in 2024, with occupancy improving by 45 basis-point (bps) and ADR increasing by 2.3%.

Forecasting 105

Forecasting Occupancy Construction Business 105

Hotel News Resource

AUGUST 11, 2023

percentage points, due to a 0.6ppt downgrade in occupancy growth. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy. For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024.

Average Daily Rate 52

Average Daily Rate Forecasting Occupancy Tourism 52

Hotelier Magazine

JANUARY 25, 2024

WASHINGTON — Canada’s hotel Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) were the highest for any year on record, according to CoStar’s 2023 data. In 2023 (percentage change from 2022): Occupancy: 65.7 In 2023 (percentage change from 2022): Occupancy: 65.7 For 2024, occupancy is forecasted to contract 1.4

Average Daily Rate 52

Average Daily Rate Occupancy Forecasting Consumer 52

Hotel News Resource

MAY 9, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel's booking performance from your property management system. And no, it's not a 'Back to the Future' movie scene.

Forecasting 40

Forecasting Occupancy Revenue Hotels 40

STAAH

APRIL 16, 2024

To help you navigate this decision-making process, let’s explore the essential features to consider when selecting an RMS for your hotel. An RMS should provide detailed insights into key performance metrics such as Room Revenue Per Available Room (RevPAR), Average Daily Rate (ADR), occupancy rates, booking pace, and revenue forecasts.

Revenue Management 79

Revenue Management Revenue Management Forecasting 79

Hospitality Today

NOVEMBER 13, 2023

hotel occupancy in 2023 and 2024 amid economic concerns and an uncertain outlook for corporate travel The company softened its projections for U.S.

Forecasting 40

Forecasting Occupancy Hotels Travel 40

Hotel Management

FEBRUARY 20, 2024

Ahead of the inaugural AHICE South East Asia, which takes place in Singapore on February 27-29, JLL Hotels and Hospitality Group CEO APAC, Nihat Ercan, discusses the latest developments in hospitality across the region. Investors continue to take notice, especially private equity which remains the leading buyer of hotel assets worldwide.

Real Estate 245

Real Estate Average Daily Rate Occupancy Tourism 245

Hotel Management

NOVEMBER 9, 2023

Hotel asset management firm Axsia HTL is predicting a drop off in hotel management agreements (HMAs) in 2024 and beyond as more owners opt in favour of franchise agreements, which are predominate in the US market. The post HMas are out, franchise agreements are in, Axsia HTL reports appeared first on Hotel Management.

Forecasting 264

Forecasting Consumer Management Branding 264

Hotel Business

MAY 24, 2023

CBRE has raised its forecast again for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains. CBRE has revised its forecast for 2023 RevPAR to $97.89, up 6% year-over-year (YOY), and an increase of 43 cents from its previous forecast. YOY from Q1 2022.

Forecasting 95

Forecasting Occupancy Travel Business 95

Hospitality Today

NOVEMBER 25, 2022

Weaker economic momentum will temper travel recovery, but the rebuilding of business travel will continue to support demand growth next year

Occupancy 40

Occupancy Forecasting Travel Business 40

Hotelier Magazine

AUGUST 29, 2023

. — Canada’s hotel industry reported its highest Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) for any month on record, according to CoStar’s July 2023 data. In addition to the monthly ADR and RevPAR levels, Canada’s occupancy level was its highest since August 2022. per cent to 75.6 per cent, while ADR rose 7.7

Average Daily Rate 52

Average Daily Rate Occupancy Forecasting Hotels 52

Amadeus Hospitality

APRIL 30, 2024

Average hotel occupancy across the Americas is tracking at the same level as 2023 for the May to August time period. However, occupancy numbers are expected to grow as the peak travel seasons draw closer due to the increase in last-minute booking patterns. The full report is now available to download. [1]

Tourism 100

Tourism Occupancy Travel Market 100