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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.
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).
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%
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
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.
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.
Aptech has launched TVNG, its next-generation budgeting and forecasting solution for hotels. 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.
CAMBRIDGE, MassachusettsThe Hospitality Asset Managers Association (HAMA) announced the results of its Spring 2025 Industry Outlook Survey. The semi-annual report updated the latest opinions, experiences, and predictions of 80 hotel asset managers from the previous survey on topics ranging from forecast predictions to recession concerns.
Skift Take: Cancellations and no-shows for hotel reservations tend to be higher in summertime, which can significantly impact revenue for hotels and travel management companies (TMCs). Slicing and dicing data more granularly leads to better forecasting and may reduce potential revenue losses.
Outsourced revenue management has become a strategic solution for independent and lifestyle hotels that want to grow profitably without building large in-house commercial teams. This approach delivers expert pricing, forecasting, and distribution support while keeping fixed costs low. What Is Outsourced Revenue Management?
Event-related occupancy forecasts are particularly impressive, given STR and JLL report Melbourne has welcomed 81 new hotels and over 5,200 rooms in the five-year period between 2019 and 2024, with another 2,000 rooms still to come, said Accommodation Australia (Victoria) General Manager, Dougal Hollis.
Rolling forecasts are nothing new but I must point out that most hotels don’t use them, and they really should. To start out we need to define how we produce a rolling forecast and point out the best practices around its creation. Without the budget we can’t have a rolling forecast. That’s the part the rolling forecast plays.
Skift Take: Airline revenue management is undergoing a significant transformation powered by AI and machine learning. By forecasting demand and offering personalized pricing, the PROS Willingness-to-Pay (WTP) model can help airlines enhance both revenue and customer satisfaction. PROS Read the Complete Story On Skift
Every hotel general manager should address these three pivotal questions: What are your most profitable guest segments and customers? What is your forecast for the next 1218 months? Knowing this information will help you strategically target and nurture the right business. Consider not just room bookings but all revenue streams.
But luckily, there is a solution: Single-solution platforms that consolidate all essential hotel management tools into one complete system. Gone are the days of dealing with multiple systems for reservations, revenue management, and guest engagement. Another channel manager for distribution. Spreadsheets for revenue tracking.
MINNEAPOLIS, MinnesotaIDeaS, a SAS company and provider of hospitality revenue management software, announced the launch of IDeaS Spotlight, a first-of-its-kind demand intelligence solution that empowers marketers to generate the right demand at the right time.
With all the changes impacting hoteliers so quickly—the need for hotels to do more with less, continuing pressures on margins, the rapid rise of AI—it’s time for new paradigm in revenue management, one rooted in scientific rigor, data integration and interdisciplinary collaboration. Amid the challenges, innovation remains a central theme.
With nine new direct services, primarily from Southeast Asia and the Middle East, Perth is forecast to experience the highest percentage growth in international arrivals, with 298,000 new short-term arrivals, generating an expected 339,000 additional room nights.
Skift Take: Elliott Investment Management, which has a $2 billion activist stake in Southwest, was highly critical of the airline’s revenue forecast cut for the second quarter. Meghna Maharishi Read the Complete Story On Skift
This article explores hotel demand forecasting, why it matters, and how hoteliers can use internal data and external intelligence to improve pricing, resourcing, and strategic decision&making.
As a leader in revenue management consulting , were always at the forefront of what is happening in the hotel industry and keeping a close eye on how revenue management trends keep evolving. While questions like What are the top trends in revenue management for 2025? Want to read more about the basics of revenue management?
DALLAS—DerbySoft, a leader in high-performance distribution services, announced a new partnership with IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, that strategically provides operational and revenue-enhancing benefits for hotels of all types.
JLL Managing Director and Head of Investment Sales for Hotels Australasia, Peter Harper, said Australia is now perceived as a safer market for investment. JLL forecasts that the strong performance in the first half of 2025 is likely to continue throughout the year.
LONDON April 2025 IDeaS, a SAS company and the worlds leading provider of hospitality revenue management software, today announced the launch of IDeaS Spotlight, a first of its kind demand intelligence solution that empowers marketers to generate the right demand at the right time.
Forecasts should be reasonably accurate, but they will never be entirely correct. Therefore, the revenue management system should take the first shot at forecasting. The second opinion is that the revenue manager will add the human touch based on extensive experience from the destination and the hotel.
In the exclusive video interview below, she says thanks to economic uncertainty, it’s challenging to forecast the key metrics of RevPAR, rate and occupancy, but the United States outlook remains positive. The post Exclusive video: STR President Amanda Hite’s global performance expectations appeared first on Hotel Management.
With more channels, shifting guest expectations, and tighter margins, the Channel Manager is now central to commercial strategy. Its not just about where youre listed, its about how well you manage, price, and promote across every touchpoint. Rethinking the Role of a Channel Manager 3. Choosing and Managing Your Channel Mix 8.
In the world of sales forecasting, you have the same problem! Today's topic: March Madness, the ongoing search for bracket and sales pipeline predictability. The March Madness tournament can be somewhat predictable, but upsets are expected.
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.
TFE Hotels has signed a multi-property management agreement with New Zealand’s Heritage Hotels, which will see half of the Heritage portfolio refurbished and rebranded under the Adina and Rendezvous brands. As our New Zealand hotels continue to forecast robust revenue growth for the year ahead.”
This shift is driving travel companies to reevaluate which measurements they’re using to forecast revenues. Skift Take: The second installment of “The Data Snap” article series examines an unusual market trend: Hotel rates are on the rise while agency commissions are stabilizing. Onyx CenterSource Read the Complete Story On Skift
Duetto has launched GameTime, a streamlined revenue management system (RMS) designed specifically for select-service and limited-service hotel brands. GameTime brings together rate optimization, enterprise pricing, forecasting and performance tracking in one streamlined platform. “We
Singlepane has launched asset management software built specifically for hotel owners, adding three new modules to its original business intelligence (BI) platform. The post Singlepane launches asset management solution for owners appeared first on hotelbusiness.com. ” Early clients are already seeing the impact.
The Asia Pacific region is reported to be the fastest-growing MICE market globally, with growth forecast at a CAGR of 10.0% The post Exclusive: Accor invests in meetings and events venues to capture surging demand in the Pacific appeared first on Hotel Management. from 2024 to 2030.
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. The post Rates drop in key New Zealands two largest cities appeared first on Hotel Management.
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.
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.
In her keynote speech at the 2023 GBTA Convention, GBTA Chief Executive, Suzanne Neufang, admitted the association got the forecast wrong last year – expectations were for a mid-2026 forecast – but there were no complaints about getting it wrong as she was thrilled with the renewed optimistic outlook.
Think revenue management is just for the big hotel chains or that it’s all about jacking up prices? Believe me when I say, as the COO of a revenue management consulting firm, that at least one of the below misconceptions is draining your hotel’s profits faster than a leaky faucet.
Periods of high demanddriven by holidays, festivals, or local eventscan strain resources, impact guest satisfaction, and complicate revenue and maintenance management. Preparing Amenities for Increased Demand Leveraging Data Analytics for Peak Season Management 1. Also Read: Is Your Hotel Ready for the Peak Season?
It's time for the hospitality industry to explore a more dynamic and responsive way of financial planning – prioritizing forecasting as the foundation for a truly effective budget. This shift will enhance adaptability, increase profitability, and empower data-driven decision-making – crucial advantages in today's market.
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