Hotel Business
NOVEMBER 10, 2023
year-over-year (YOY) and supply increased 0.5%, which led to a 1% drop in occupancy for the period. RevPAR decreased 0.3%, as the modest occupancy decline was partially offset by the rise in ADR. Several smaller secondary markets in the South and Midwest were among the strongest RevPAR performers relative to 2019. decreased 0.5%
STAAH
APRIL 16, 2024
Look for a solution that utilizes sophisticated algorithms to analyze market demand, competitor pricing, booking patterns , and other relevant factors in real-time. This enables hoteliers to adjust room rates dynamically to maximize revenue based on current market conditions.
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SiteMinder
OCTOBER 15, 2023
They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. Kayak – One of the players in the metasearch market. So it’s important to be aware of all the channels that help you boost occupancy.
SiteMinder
FEBRUARY 8, 2024
According to Statista research , revenue in the Travel & Tourism market is projected to reach US$184.50bn in 2024. Meanwhile, the largest Travel & Tourism market is the Hotels market with a projected market volume of US$93.62bn in 2024. In population size, that market is made up of just over 300 million people.
SiteMinder
DECEMBER 4, 2023
Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Hotel occupancy will increase 2.5% globally next year. Here are some other key stats on the US hotel industry: The hotel market in the US is worth more than $106 billion.
Boutique Hotel News
MARCH 3, 2023
million in 2021 to $135 million in 2022, RevPAR grew 11 per cent from the previous year’s fourth quarter to $158, and occupancy stabilised relatively at 83 per cent. At the same time, Sonder reported an increase in Q4 revenue from $86.7
STAAH
FEBRUARY 7, 2023
As the markets have opened up and travel continues to rise, Hoteliers should not ignore this important market segment – Corporate clients to maximize occupancy and revenue. 2) Networking: Attend industry events and trade shows to network with potential corporate clients and build relationships with key decision-makers.
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