Hospitality Net

DECEMBER 12, 2023

Jakarta hotels recorded their highest levels in occupancy and revenue per available room (RevPAR) since November 2011 and November 2013, respectively, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Occupancy 100

Occupancy Real Estate Revenue Hotels 100

Hospitality Net

MAY 1, 2023

STR’s global “bubble chart” update through 15 April 2023 shows continued improvement in the Asia Pacific region and more than half of global markets with better than 20% growth in revenue per available room (RevPAR) versus 2019.

Average Daily Rate 238

Average Daily Rate Occupancy Revenue Market 238

Hotel News Resource

JULY 6, 2023

With occupancy levels lagging during the post-COVID recovery and guest counts depressed, hotel owners and operators have had to look for alternative sources of revenue beyond the rental of guest rooms to make up for the income deficits. For some hotels in the U.S., For some hotels in the U.S.,

Occupancy 96

Occupancy Revenue Hotels Operations 96

Hotel Management

FEBRUARY 13, 2024

Minor Hotels recorded 450% core net profit growth in 2023 compared to the previous year, after reaching a new full-year core revenue record of THB 121.4 Revenue was up 25% on 2022 figures with topline total system sales reaching THB 157 billion (approx. billion appeared first on Hotel Management. billion (approx.

Revenue 130

Revenue Average Daily Rate Occupancy Hotels 130

eHotelier

AUGUST 20, 2023

A hotel sales strategy is a plan of action designed to increase hotel revenue and bookings. It involves identifying target markets, setting sales goals, and creating a plan to achieve those goals.

Hotel Sales 98

Hotel Sales Revenue Occupancy Sales 98

Hospitality Net

NOVEMBER 17, 2023

NH Hotel Group (NH), part of Minor Hotels, generated €1.61 billion of revenue in the first nine months of 2023, up 28.1% Strong demand drove occupancy up to 68%, while average daily rate (ADR) climbed further to €137 in 9M23, marking growth of 14.4% year-on-year. year-on-year and 25.2% compared to 9M19.

Average Daily Rate 186

Average Daily Rate Revenue Occupancy Hotels 186

Hospitality Net

OCTOBER 2, 2023

Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance.

Revenue Management 186

Revenue Management Revenue Management Forecasting 186

Lodging

JANUARY 18, 2024

hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. Hotel Performance During 2023 Percentage change from 2022:Occupancy: 63.0% (+0.6%)ADR: RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019.

Average Daily Rate 272

Average Daily Rate Occupancy Revenue Hotels 272

Hotel Business

AUGUST 21, 2023

Boutique hotels continue to report solid occupancies and healthy ADRs, and collectively achieved increases in all performance indicators through June, according to the Boutique Hotels: Mid-Year 2023 report from The Highland Group. At mid-year 2023, boutique hotel occupancy levels indexed ahead of all U.S.

Occupancy 98

Occupancy Hotels Revenue Branding 98

Hospitality Net

MAY 31, 2023

STR’s global "bubble chart" update through 20 May 2023 shows 85% of markets with growth in revenue per available room (RevPAR) compared to 2019. More notably, however, the gains included a more significant contribution from occupancy growth, as half of all markets surpassed their 2019 comparables.

Occupancy 130

Occupancy Revenue Market Marketing 130

Hotel Management

MARCH 30, 2023

Melbourne hotels are reaping the benefits of the Australian Formula 1 Grand Prix which is taking place in the city this weekend. Speaking exclusively to HM, Le Méridien Melbourne General Manager, Peter Minatsis, said it is very pleasing to see the hotel abuzz with activity since opening on March 16. “We It’s exciting for us.

Occupancy 130

Occupancy Events General Manager Hotels 130

eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? Flash Report Flash Report presents the summary of hotel performance metrics.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hospitality Net

APRIL 17, 2024

In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row.

Casinos 241

Casinos Hotel Marketing Market Marketing 241

Refine

FEBRUARY 10, 2024

While occupancy is not the only thing influencing the revenue success of a hotel, it's hard to say you're maximizing revenue if your occupancy levels are low. "Heads in beds."

Occupancy 62

Occupancy Revenue Hotels 62

Hotel Business

DECEMBER 12, 2022

Hotel management system provider RoomRaccoon has unveiled its annual global report, RoomRaccoon Report 2022, “A Year of Impact: What’s Next?” In August, RoomRaccoon’s clients in Europe had record-breaking occupancy levels averaging 64% in comparison to 61% in August 2019. Hotels are generating better revenue.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

Hospitality Net

MAY 6, 2024

hotel performance paused due to the Passover observance that began on Monday 22 April. Revenue per available room (RevPAR) declined 2.5% as occupancy fell 0.8 percentage points (ppts) and average daily rate (ADR) declined 1.3%.

Average Daily Rate 219

Average Daily Rate Occupancy Revenue Hotels 219

STAAH

AUGUST 1, 2023

A hotel sales strategy is a plan of action designed to increase hotel revenue and bookings. Here are 6 hotel sales strategies to increase your revenue. Once you know who your target audience are, it will be easy to plan your sales strategy and offer deals to attract them to your hotel.

Occupancy 85

Occupancy Hotel Sales Revenue Sales 85

Refine

JANUARY 28, 2024

Overbooking is a common practice in the hotel industry, strategically employed to secure maximum occupancy and guarantee the sell-out of rooms. Why Do The post How Does Hotel Overbooking Impact Your Revenue? Why Do The post How Does Hotel Overbooking Impact Your Revenue? appeared first on Revfine.com.

Overbooking 96

Overbooking Revenue Occupancy Hotels 96

STAAH

APRIL 23, 2024

In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. As technology continues to evolve, so do the strategies and innovations within revenue management.

Revenue Management 88

Revenue Management Revenue Ancillary Revenue Management 88

Skift Blog

JULY 19, 2023

Skift Take: Industry experts are very bullish on the revenue growth of premium hotels owing to better operational parameters, largely due to domestic demand and global events like the G20 Summit and the Cricket World Cup 2023. Amrita Ghosh Read the Complete Story On Skift

Occupancy 189

Occupancy Events Revenue Operations 189

Hospitality Net

FEBRUARY 12, 2024

year-over-year decrease in hotel demand and a 0.8% drop in occupancy in Q4 2023. Occupancy declines were partially offset by a 0.7% decrease in revenue per available room (RevPAR) during the quarter. increase in supply led to a 2.5% increase in average daily rates (ADR), resulting in a 1.9%

Average Daily Rate 195

Average Daily Rate Occupancy Revenue Hotels 195

Fuel Travel

MARCH 28, 2024

Optimizing Revenue per Available Room (RevPAR) is one of the key focuses of most hoteliers. Navigating the complex world of revenue management requires innovative solutions. While dedicated revenue management software is a component of this process, all of your technology must work together to increase your bottom line.

Revenue 90

Revenue Average Daily Rate Occupancy Digital Marketing 90

Hospitality Net

OCTOBER 31, 2023

hotel revenue per available room (RevPAR) rose 2.9% in September 2023, which was the strongest year-over-year (YoY) growth of the quarter, even as occupancy continued to decline modestly.

Occupancy 243

Occupancy Revenue Hotels 243

Hospitality Net

APRIL 22, 2024

hotel performance ending 13 April 2024 reflected an easy comparison to Easter last year and the impact of the solar eclipse. Revenue per available room (RevPAR) rose 5.8% driven by nearly equal gains in occupancy and average daily rate (ADR). Similar to the previous week, U.S.

Average Daily Rate 264

Average Daily Rate Occupancy Revenue Hotels 264

Hospitality Net

AUGUST 11, 2023

S Hotels and Resorts PCL (SET: SHR), the global hospitality company from Singha Estate PCL (SET: S), announced accelerating total revenue from services of THB 4,821 million (+28% YoY), and jumping adjusted EBITDA of THB 1,112 million (+74% YoY) for the first half of 2023.

Average Daily Rate 179

Average Daily Rate Revenue Occupancy Resorts 179

Revinate

FEBRUARY 13, 2024

Imagine a mountain resort that needs to boost business during its lower occupancy shoulder season. The post Boost conversions and revenue with hotel guest segmentation appeared first on Revinate. They send one personalized promotion to transient couples, enticing them with an exclusive weekend getaway package.

Revenue 97

Revenue Occupancy Market Marketing 97

Hotelogix

NOVEMBER 19, 2023

As a hotelier, boosting the occupancy rate is critical to running a successful business. In a highly competitive industry, you must attract and retain guests to increase your property's occupancy rate and revenue. This article will explore various ways to improve hotel occupancy rates and the role of technology in it. 

Occupancy 59

Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

Hotel Business

APRIL 15, 2024

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.

Occupancy 59

Occupancy Consumer Forecasting Market Share 59

Hospitality Net

APRIL 29, 2024

hotel performance leveled out following three unstable weeks impacted by the total solar eclipse and Easter calendar shift. Revenue per available room (RevPAR) rose 1.2% Revenue per available room (RevPAR) rose 1.2% Occupancy (at 66.8%), the highest level seen in 2024 so far, was essentially flat dropping 0.2

Average Daily Rate 244

Average Daily Rate Occupancy Revenue Market 244

Hotel Management

JANUARY 16, 2024

Sydney hotels had much cause to celebrate as 2023 drew to a close with record results achieved in the month of December. Helped by a New Year’s Eve Sydney’s hotel industry, Sydney’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to December preliminary data from property analytics platform CoStar.

Average Daily Rate 130

Average Daily Rate Occupancy Closing Revenue 130

Lodging

NOVEMBER 20, 2023

HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. Occupancy was downgraded slightly (by 0.2 Occupancy was downgraded slightly (by 0.2 percentage points).

Forecasting 284

Forecasting Average Daily Rate Occupancy Tourism 284

Hotel Management

MARCH 25, 2024

Intellisoftware will also gain a seat on ARMA’s Skills Council to provide input for ARMA’s nationally recognised and accredited VET qualification in revenue and yield management launching this year. Melissa Kalan ARMA CEO, sharing her insights on the partnership stated, “This collaboration marks a significant milestone for us.

Revenue Management 130

Revenue Management Revenue Yield Management Management 130

Hotel Business

APRIL 5, 2024

One standout performer is Evansville, IN, where hotels are set to witness a more than fivefold increase in arrivals (505%) over the two dates, compared to the same period last year. Reflecting this surge in demand, SiteMinder’s figures show that the average cost of a hotel room in the city will be up 48.7% last year to $334.18

Occupancy 64

Occupancy Upsell Revenue Revenue Management 64

Lodging

MAY 18, 2023

DALLAS—CBRE is again raising its forecast for hotel performance this year, as stronger-than-expected demand and more modest supply growth drive occupancy gains. CBRE has revised its forecast for 2023 revenue per available room (RevPAR) to $97.89, up 6.0 percent year-over-year, and an increase of $0.43 from its previous forecast.

Forecasting 261

Forecasting Average Daily Rate Occupancy Revenue 261

Hotel Management

FEBRUARY 13, 2024

Hotels across Melbourne and Sydney are feeling the star power of global music icon Taylor Swift as fans flock from all over to attend the sold-out Eras Tour concerts, taking place over the next two weekends. What we’re seeing with Taylor Swift tour is a phenomenon and particularly noteworthy,” Jones told HM. “In

Occupancy 290

Occupancy Tourism Events Accommodation 290

Refine

FEBRUARY 8, 2024

These digital tools have revolutionized hotels' operations, helping them achieve the dual goals of maximizing occupancy and revenue. 11 Most Important Booking Engine Features The hotel's success heavily The post Key Features to Evaluate in a Booking Engine to Maximize Revenue appeared first on Revfine.com.

Revenue 106

Revenue Occupancy Operations Travel 106

Hospitality Net

APRIL 18, 2024

Manhattan hotels have seen an increase in occupancy, average daily rate (ADR) and revenue per available room. Cheaper hotels gained from market fatigue, with midscale properties having three times the ADR growth than higher-priced hotels in Q4. But the growth rate has started to decline as the market stabilizes.

Average Daily Rate 202

Average Daily Rate Market Marketing Occupancy 202