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In May, short-term rentals continued to take share from hotels, with demand growing 13% compared with a 1.5% increase in hotel demand. While RevPAR growth for STRs was positive, up 4.2%, occupancy has dropped to below pre-pandemic levels as supply growth has continued to increase.
The business shared the announcement exclusively to HM ahead of the 14th Asia Pacific Hotel Industry Conference and Exhibition (AHICE), which takes place at the Adelaide Oval on May 3-4. “As The post Exclusive: Ascott to open Sydney lyf, Oakwood Epping appeared first on Hotel Management.
Hotel demand fell 2.0% Despite taking share from hotels, increasing supply has created occupancy headwinds for short term rentals causing RevPAR to contract 6.6%. in January, while short-term rental demand rose 1.3%.
An improvement in economic conditions is on the horizon with leisure and business tourism set to benefit, according to CBRE Director – Hotels and Leisure, Peter Hamilton. Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotelmarkets from early 2024.
First-time general manager Michelle Scott is flexing her sales and marketing skills to bring Marriott International’s ‘Wild Child’ Moxy to life in its first Australian hotel. Michelle, tell us about the Moxy brand and what makes this hotel different? Everything we do at Moxy challenges that traditional hotel experience.
US: The 2023 edition of The Boutique Hotel Report, published by The Highland Group , reveals that rate increases have pushed most boutique hotels to full RevPAR recovery. The annual report covers the independent boutique, lifestyle hotel and soft brand collection segments in the United States.
In her expanded role, she will lead the development and implementation of sales and marketing strategies to drive revenue growth, enhance the guest experience and expand the marketshare of both properties.
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% decrease in occupancy, which was driven in part by a 1.3% decline in hotel demand.
Modern hotel management requires a robust set of tools and metrics to evaluate and continuously optimize revenue performance, especially in relation to competitors. Calculating ARI requires hotels to collect detailed room performance data. Calculate your property’s ADR, RevPAR, and occupancy rate. How is ARI calculated?
What is hotel efficiency? Hotel efficiency is the concept of doing more with less, to minimise costs and maximise profit in your hotel business. This hotel efficiency definition is perhaps a little too basic though, so let’s dig a little deeper into the question “what is efficiency in a hotel?”
Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.
Choice Hotels International Inc. , “Choice Hotels generated another quarter of record financial performance and RevPAR outperformance, demonstrating the successful execution of our growth strategy,” said Patrick Pacious, president/CEO. and occupancy levels increased by 30 bps. Domestic ADR grew by 1.7%
Key takeaways Googleâ¯Hotels erodes in EU marketshare : DMA-driven changes and AI Overviews have eroded Googleâs dominanceâat least marginallyâopening opportunities for OTAs to recapture traffic. Jun 25, 2025 ⢠Hospitality U.S.
Rising costs, changing booking trends, good leaders, and even the weather…are just some of the things that have influenced the performance of hotels so far this year. One key trend this year has been the overall drop in demand for hotel rooms. We’ve got to be a bit more strategic, use our skills a lot more to grow that occupancy.”
Ever wondered why some hotels consistently outperform their competitors, even in challenging market conditions? The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape.
2022 has been a successful one for the hospitality industry, with hotel room occupancy surging near the record-high 2019 levels. The American Hotel & Lodging Association also estimates 2022 hotel room revenue of $188.4 What hotel trends will impact 2023? The compound annual wage growth for hotels hit 8.5%
What is hotel rate shopping? Hotel rate shopping is the practice of tracking and monitoring hotel rates amongst your local market and competitors. This blog will give you a full overview of hotel rate shopping and rate shopper tools, which you can use to boost revenue success at your business.
Picture a system that displays your hotel's current status and forecasts its future. This is what hotel business intelligence software accomplishes. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. You need real facts to decide things.
Hotel distribution has always been a critical aspect of the hospitality industry. Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. We look at where hotels can review distribution strategies to maximise market potential.
Hotel owner, operator and developer Hotel Equities has reported noteworthy performance growth in 2023 year to date, significantly surpassing 2019 benchmark levels. Stachler added, “With our strong occupancy premiums, we will continue to look at ways of maximizing our ADR across all market segments.”
At the Wyndham Hotels & Resorts Global Conference, held at Caesars Forum in Las Vegas, President/CEO Geoff Ballotti talked about how the company has changed since it first went public seven years ago. The company also introduced new initiatives designed to help hotel owners. And we franchised hotels, too.
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. This shift requires a comprehensive approach integrating cost control, strategic marketing, and top-notch guest services. Read Also: What is Dynamic Pricing in Hotels?
Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. As we look at the importance of forecasting for the hospitality industry, it’s interesting to note that it is also a major part of the science of hotel revenue management.
OTA Insight has launched Rate Insight+, a solution that gives hoteliers a complete view of their competitive landscape by combining hotel and short-term rental data in a single platform. As the short-term rental industry continues to grow and increase marketshare, hoteliers face a host of new challenges.
Host Ryan Embree discusses how hotels can position themselves to capture marketshare and secure bookings from both engaged couples and wedding guests. Suite Spot Podcast · 95 - How to Attract Weddings to Your Hotel Episode Transcript Our podcast is produced as an audio resource. Listen now! I'm your host, Ryan Embree.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
As a hotel operator, you might have come across STR reports at one point or another. Staying ahead of the competition is essential to the long-term growth of your hotel. Which areas of your hotel are performing well and which do you need to improve? What does STR stand for within the hotel industry? Table of contents.
A strong hotel brand is the cornerstone of enduring success. Just as personal relationships thrive on authenticity and engagement, so too does a hotel’s connection with its guests. Investing in hotel branding is a strategic decision that can yield substantial returns. What are their pain points when traveling?
By Nicole Di Tomasso According to Avison Young’s Canada HotelMarket Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as Average Daily Rate (ADR), Revenue Per Available Room (RevPAR) and occupancy. per cent (up 7.7
Google is taking the hotel industry by storm to gain marketshare and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing.
With a portfolio of serviced residences, hotels and co-living properties spanning over 220 cities across more than 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA, Ascott operates on a flex-hybrid accommodation model that caters for both short and extended stays.
By Amy Bostock The post-pandemic landscape for hotel management has become more competitive, with owners and investors seeking partners who can not only maximize asset value but also navigate uncertainty and change. Its Canadian portfolio showcases properties ranging from full-service hotels to limited-service and extended-stay brands.
Wyndham Hotels & Resorts , for the third quarter ended Sept. 30, reported a record-high development pipeline of 1,930 hotels. “We recently announced our board of directors unanimously rejected an unsolicited stock-and-cash proposal by Choice Hotels to acquire our company,” said Geoff Ballotti, president/CEO. .”
WASHINGTON — CoStar Group has launched STR Benchmarking, a transformational marketshare product for the global hotel industry. The first release of STR Benchmarking focuses on property-level data and analytics for hotel owners and operators with enhanced functionality built on the foundation of the renowned STAR Report.
Data analytics is the cornerstone of successful hotel operations. Unfortunately, many hotels face data silos and are unable to piece together actionable insights. That’s where hotel software comes into play. What is data analytics? Here are just a few areas to focus on: 1.
By Morag McKenzie As the number of travellers show no sign of slowing, it could be said there has never been a better time to invest in hotels. Hotels are an attractive investment as they can be an excellent source of income as well as long-term real-estate value. We’re listening to hotel comments.
Hotel KPI or Hotel Key Performance Indicator is the value that can be measured and which lets you set a standard to measure the success rate of your hotel business as to how is it faring in the market. That being said, there are a handful of KPIs for hotel general manager which help hoteliers meet the benchmarks set.
During Intercontinental Hotels Group ‘s (IHG) first-half results presentation, Elie Maalouf, CEO, IHG Hotels & Resorts , revealed that the company will soon launch a new brand targeted at midscale conversion opportunities. We’re delighted that more than 100 hotels have already expressed definitive interest in the new brand.”
Wyndham Hotels & Resorts , for the three months ended Sept. 30, the company’s global development pipeline consisted of approximately 2,100 hotels and 248,000 rooms, representing another record-high level and a 5% YOY increase. and 7% growth internationally. Key highlights include: 7% growth in the U.S.
Did you make your new hotel budget already or are you right in the middle? Now is the time to take action to build your hotel budget plan! Now is the time to take action to build your hotel budget plan! Hotel Budgets: Where it All Starts… The basis of the target or budget lies in a detailed demand calendar.
For hotel owners and operators, Atrápalo hotels offers an extranet that allows them to manage their listings, update availability, and access valuable insights to maximise their bookings and revenue. Table of contents Why should your property be on Atrápalo hotels?
German hotel group H-Hotels.com has signed an agreement with Amadeus to expand their reach to travelers on digital channels, adding to Business Intelligence and Travel Seller Media contracts. Established in 1969, it now has over 50 years of hospitality experience to look back on.
SWOT is a TOOL that helps hotel owners access favourable business opportunities in the context of market trends and get better insights into those areas needing adjustments and improvement. What is SWOT Analysis for hotels? More so, it is worthy of note that SWOT analysis varies depending on the type and size of the hotel.
Accommodation providers can navigate these by leveraging online bookings and digital marketing strategies. Here’s a comprehensive guide to help accommodation providers optimize their efforts and maintain steady occupancy rates during economic downturns. Focus on local SEO to attract nearby travelers.
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