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Profitability Amid Uncertainty: Why Hotels Rely on Revenue Management Technology

Lodging

This requires walking a fine line between minimalist operations and classic hotel service, and […] The post Profitability Amid Uncertainty: Why Hotels Rely on Revenue Management Technology appeared first on LODGING Magazine.

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Rigorous Revenue Management: AI Tech Tools Take Pricing and Forecasting Accuracy to the Next Level

Lodging

Revenue management in the hotel industry has become a science over the last few years with pricing strategies that increasingly factor in supply/demand fluctuations and the development of automated revenue management systems (RMSs).

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NYU Conference: STR upgrades 2023 forecast, with ADR and RevPAR set to increase

Hotel Management

STR and Tourism Economics have upgraded the 2023 United States hotel forecast, released at the 45th Annual NYU International Hospitality Industry Investment Conference in New York this week (June 5). from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5%

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Business Travel Bounces Back: Spending Forecast to Hit Record

Skift Blog

Skift Take: Business travel is roaring back, with global spending projected to surpass pre-pandemic levels in dollar volume this year. Face-to-face wins. Sean O'Neill Read the Complete Story On Skift

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New Hospitality Metrics for Revenue Managers

Hotel Management

No need to obsess over RevPAR or lose sleep over ADR – there are much more important metrics out there for revenue managers. Revenue management is not a walk in the park. The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenue managers. Get your copy here.

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50+ Hotel Management Companies to Know in 2023

Lodging

At the beginning of the year, STR reported that revenues and profits reached highest-ever levels during 2022, and CBRE increased its hotel performance forecast to account for expected GDP growth during the coming year.

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Transformative Hospitality Budgeting and Expense Management

Hotel Management

FutureLogs Budgeting & Expense Management tool empowers hotels with real-time budget tracking, automated controls and spend analysis, ensuring cost efficiency, transparency and smarter decision-making to drive profitability and financial resilience.