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Sydney hotels pulled in record high average daily rate and revenue per available room on the night, according to December preliminary data from CoStar. CoStar reports occupancy levels of 78.8% This is gained through the majority of individual days holding higher occupancy and not attributed to an event outlier, CoStar said.
Nuell said the partnership over the past three years has resulted in more Marriott Bonvoy sign ups, increased brand awareness and increased hotel occupancy and revenue in the company’s 10 Melbourne hotels. “The We operated at high occupancy throughout the tournament, and are currently pacing in line with last year. “We
Perth hotels are experiencing a strong resurgence in bookings, with the Australian Hotels Association (WA) reporting that the west coast city reached the highest occupancy rates in the country in 2024. From January to December 2024, metropolitan Perth hotels achieved an average occupancy level of 79.4% a 3.9%
Hotel gift vouchers are a formidable strategy to amplify revenue streams and grow guest loyalty. Unlike any other monetary gift card, they can be tied into particular hotel services, enhancing revenue streams. Additional revenue stream, with the money clipped in even before the service is rendered. Gift vouchers are versatile.
GCC Hotel & Club, has reported a 15% rise in revenue and online bookings after partnering with global hospitality tech provider, STAAH. In a move to modernise operations and streamline booking management, the hotel adopted STAAH’s distribution and revenue management tools.
But a lot of hoteliers have gotten stuck in a loop of constantly slashing prices, offering direct channel discounts, OTA promotions, and special rate packages to drive occupancy. Think TRevPAR over ADR Shifting focus toward optimizing total revenue per available room (TRevPAR) instead of purely occupancy or ADR can unlock performance gains.
The tour, which recently made history as the highest-grossing rock tour of all time, is the first rock tour to surpass US$1 billion in revenue, and second only to Taylor Swift’s The Eras Tour. Recent data from CoStar shows Auckland experiencing the highest occupancy levels of the three cities, peaking at 84.1% in Sydney and 50.3%
Solid occupancy isnt enough anymore. While occupancy is still a core metric, relying on it too heavily can leave your property management business vulnerable to seasonal swings, economic uncertainty, and a volatile demand environment. Ancillary revenue to the rescue! Markets are saturated. Competition is fierce. The good news?
Perth posted its highest June average daily rate (ADR) and revenue per available room (RevPAR) on record, driven by sporting events and concerts, according to preliminary data from CoStar. Hotel occupancy was its highest for the month of June since 2015 at 77.7% On 23 June, occupancy reached 81%, and ADR and RevPAR hit AU$226.79
This scalability is especially valuable for hotels – as more information is collected about guest behavior, booking trends , and occupancy patterns the more precise rate adjustments, inventory management, and marketing strategies will be in the future. Why it’s important for hotels? Why it’s important for hotels?
Often considered a dull, technical aspect of occupancy metrics for large chains, hotel revenue management has easily been written off as being just about numbers and pricing. In reality, it is a strategic, creative discipline that can unlock significant value across all types of hotels and operations.
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.
Australias hotel sector is on track for a full recovery by the end of 2025, with all major cities recording occupancy growth, according to new CBRE data. National occupancy rates sit at 71%, up 2% year-on-year, while average daily rate (ADR) remains stable at AU$240 and revenue per available room (RevPAR) is up 3.8%
Everything we do must connect to them ‘ ethos and how this approach has not only revolutionised the guest experience but has also become the driving force behind a more holistic and resilient revenue generation strategy, one that prioritises Revenue Per Available Guest (RevPAG) and cultivates meaningful, long-lasting guest relationships.
But while these platforms drive bookings, they can also cause unintended revenue loss — not because the platforms are flawed, but because of avoidable mistakes in how hotels manage them. These five mistakes can quietly eat away at your revenue, even when occupancy looks strong. The good news?
Advanced Strategies to Maximize Revenue a. Dynamic Pricing: Real-Time Revenue Optimization c. Todays winners in hospitality are those who use tools like a Channel Manager not only to sync availability but to maximize revenue, streamline operations, and build a resilient digital strategy. A drop below 30% occupancy?
hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the countrys growth rate was its lowest since the declines of 2020, according to CoStars 2024 year-end data. Hotel Performance 2024 (Percentage change from 2023): Occupancy: 63 percent (flat) ADR: $158.67 (up 1.7 WASHINGTONThe U.S.
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. It’s about precision, not panic.
Serving as intermediaries in the travel industry, bed banks enable hotels to increase occupancy without directly managing complex distribution channels. This blog will tell you everything you need to know about bed banks, including how you can get connected to them and grow your hotel’s revenue.
For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Occupancy for the year was lowered 0.1 NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024. percentage points to +1.5 percent and down 0.6 ppts to +1.4
According to Colliers Hotels New Zealand Hotel Market Snapshot for Q1, based on information from Hotel Data New Zealand, revenue per available room (RevPAR) was up 6.5% to NZ$239 in Queenstown for the year ending 31 March. This follows a record average daily rate of NZ$673 that was reached on 31 December 2024.
This seamless integration has not only minimized errors and enhanced booking accuracy but also played a pivotal role in driving revenue growth for the hotel chain, positioning it for continued success in a competitive market.
By leveraging technology and personalisation – such as dynamic pricing, seamless check-ins, tailored recommendations, and themed perks – hotels can enhance stays, strengthen guest loyalty, and sustain revenue well beyond the event. But price surges alone wont guarantee long-term success for hotels.
For operators managing furnished apartments, aparthotels, or extended-stay inventory, this shift represents a significant revenue opportunity. What is the opportunity around extended-stay revenue? Even at lower nightly rates, the cumulative revenue per guest far exceeds short-term bookings.
We spoke to luxury Bali property, The Komus, team about how STAAH has helped them with Get Google to boost direct revenue and bookings. Tackling low online visibility and direct revenue Before implementing STAAHs Get Google , The Komus online visibility through search was limited.
5 percent increase in revenue per available room (RevPAR) growth for 2024, down from the previously estimated 1.2 This revision reflects a 40 basis point (bps) decrease in expected occupancy compared to the prior forecast, […] The post CBRE: U.S. CBRE now forecasts a.5 percent in August.
Craft Unique Guest Journeys Through Personalization One of the most visible applications of AI is leveraging personalization to drive revenue growth and foster loyalty. According to Hotelchamp , hotels that implement these types of personalization strategies have seen revenue increases of 10% to 30%. Tools like ChatGPT and Jasper.ai
Delayed responses to maintenance issues quietly erode customer trust, damage reputation, and ultimately eat away at revenue. According to industry studies, a single-star drop in online ratings can reduce revenue per available room (RevPAR) by 5–9% in a competitive market. The Hidden Costs of Maintenance Delays 1.
With two consecutive long weekends plus school holidays, Queensland has a prime opportunity to recover some of the estimated $300 million in lost revenue caused by recent weather events. This surge in demand is a great sign for the regions resilience and ongoing recovery.
The hospitality industry is more data-driven than ever, yet marketing and revenue teams are still dancing to different tunes and that digital disconnect is costing real-life revenue. In a sector where hotel marketing budgets often account for just two to three percent of overall revenue 1 , there is precious little margin for error.
This new integration allows hotels to leverage real-time occupancy data to automate and personalize direct booking campaigns. The partnership will offer several key benefits, including: Increased direct booking conversion: Personalized offers will be provided based on real-time occupancy data, driving higher conversion rates.
increase in revenue per available room (RevPAR) growth for 2024, down from the previously estimated 1.2% This revision reflects a 40-basis point (bps) decrease in expected occupancy compared to the prior forecast, with occupancy anticipated to decline by 30 bps year-over-year. decline in occupancy. CBRE now forecasts a 0.5%
With the STAAH Booking Engine, hotels can set dynamic pricing based on room occupancy or type, while the WatchMyRate feature boosts direct bookings, enhancing guest experience, and maximize revenue. The STAAH Channel Manager enables hotels to efficiently list and manage inventory across multiple booking channels.
It helps fill tables during off-peak times, maximising restaurant occupancy and revenue. For more information on Profitroom, visit www.profitroom.com and for information on ResDiary visit www.resdiary.com The post Profitroom and ResDiary join forces to boost UK hotel and pub F&B revenue appeared first on Hotel Speak.
But while these platforms drive bookings, they can also cause unintended revenue loss — not because the platforms are flawed, but because of avoidable mistakes in how hotels manage them. These five mistakes can quietly eat away at your revenue, even when occupancy looks strong. The good news?
Ancillary revenues increased 19% compared to second quarter 2024 and 13% on a year-to date basis. Internationally, RevPAR results were driven by continued pricing power, offset by a decline in occupancy. In China, RevPAR decreased 8% year-over-year reflecting a decline in occupancy and continued pricing pressure. per share. “We
This new integration allows hotels to leverage real-time occupancy data to automate and personalize direct booking campaigns. The partnership will offer several key benefits, including: Advertisements Increased Direct Booking Conversion: Personalized offers will be provided based on real-time occupancy data, driving higher conversion rates.
For example, in 2024, New York State passed legislation allowing counties to establish STR registries, requiring platforms like Airbnb and Vrbo to submit detailed data on listings and occupancy. Tax compliance: States and localities want their fair share of lodging taxes (often called transient occupancy taxes or TOT).
The number of factors identified to impact the success of a hotels revenue management strategy continues to grow. I'm here to argue that there is one factor more important than all of these, and it is often overlooked in the revenue management discussion.
In addition to occupancy, ADR, and RevPAR, there’s another key metric that reveals whether your pricing and operational […] The post An Independent Hotelier’s Guide to Booking Pace appeared first on WebRezPro. Rather than crossing your fingers and hoping for the best, use your data to show you the way.
Hotel management challenged by seasonality in the mountains When Ana Sánchez joined Snö Hotels as Revenue Manager over five years ago, she encountered an exciting challenge; helping to build a hotel chain from scratch that specialised in snow and mountain destinations – using the right technology from day one.
Abu Dhabi's hotel industry reported its highest June occupancy and revenue per available room (RevPAR) since 2009, according to preliminary data from CoStar. The increase is attributed to elevated performance during Eid al&Adha.
Zucchetti North America launches Lybra Assistant in North America Zucchetti North America has introduced Lybra Assistant, its next-generation revenue management system (RMS), to the North American market. Plusgrade brings a new level of sophistication to upselling.
compared to the same period in 2024 due to modest occupancy declines, partially mitigated by ADR gains. Management and franchise fee revenues increased 7.9% Management and franchise fee revenues increased 6.6% .” For the three months ended June 30, 2025, system-wide comparable RevPAR decreased 0.5%
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