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What is RevPAC: Meaning & formula for hotel owners

SiteMinder

Food and beverage, spa, parking and retail outlets can more than double guest value when promoted at the right moments. Direct bookings were forecast to reach 50% of all online hotel reservations in 2024. RevPAC divides all revenue by the number of guests, capturing on-property spend in restaurants, bars, spas and retail outlets.

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EBITDAR explained: Driving financial health for hotels

Cloudbeds

For example: An energy management system to identify inefficiencies A labor management system to optimize staffing levels based on occupancy forecasts Procurement and inventory management software to track inventory levels and control supply costs. Improve marketing and distribution Optimize distribution channels to reduce sales commissions.

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Destination Vancouver and BCHA Release New Report

Hotelier Magazine

If the needed 10,000 new hotel rooms are built, the report forecasts 5,450 direct local hospitality jobs; up to 8,000 indirect jobs in retail, events and services; $125 million in annual municipal tax revenue; and $78 million in provincial tax revenue. The Urban Resort: high-end, boutique hotels offering unique local experiences.

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RoomRaccoon Introduces RaccoonRev Plus: AI-Powered Pricing To Make Independent Hotels More Profitable

Hospitality Tech

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. “RaccoonRev Plus changes that.

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Amadeus GDS: What is it used for?

SiteMinder

The opportunity to negotiate for exclusive rates and agreements: This will help deliver you certainty around your future occupancy and revenue, giving you more accurate forecasts and a strong foundation from which you can optimise your revenue management strategy. Its also a good way to improve your hotels overall reputation.

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Jurny, Visual Matrix Partner to Offer Fully Autonomous Guest Experience

Hospitality Tech

1Huddles platform is already used across hospitality, retail, and even the U.S. Real-Time Reporting & Forecasting: Access performance metrics and demand forecasts up to 365 days out. This partnership is about helping teams win on day one."

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Highgate Names SONIFI a Preferred Partner to Expand Guest Technology Capabilities Across Its Portfolio

Hospitality Tech

Chris Matthews, Global Retail Technology Director at Pret A Manger said, "At Pret, we are committed to providing a frictionless and enjoyable experience for our customers. “Finding the free time to analyze each cost in a mountain of data is a real challenge.