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

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

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

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

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

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. The post Major result for Minor Hotels as group hits record global revenue of US$3.4

Revenue 130

Revenue Average Daily Rate Occupancy Hotels 130

Hospitality Net

NOVEMBER 17, 2023

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% As a result, revenue per available room (RevPAR) averaged €93, up 30% from the 9M22 and 9M19 figures of €72 and €73, respectively.

Average Daily Rate 189

Average Daily Rate Revenue Occupancy Hotels 189

Hospitality Net

APRIL 22, 2024

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. hotel performance ending 13 April 2024 reflected an easy comparison to Easter last year and the impact of the solar eclipse.

Average Daily Rate 264

Average Daily Rate Occupancy Revenue Hotels 264

Hotel Management

MARCH 30, 2023

Marriott International, the preferred accommodation partner for the event, has reported high-level bookings over the next two weeks, with their eleven Melbourne hotels at 100% occupancy on April 1 – an incredible feat for its newly opened hotels, Le Méridien Melbourne and The Ritz-Carlton Melbourne.

Occupancy 130

Occupancy Events General Manager Hotels 130

Hospitality Net

APRIL 29, 2024

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 Normal patterns returned in the form of solid weekday and Top 25 Market performance, as well as strong group demand. year over year (YoY) driven entirely by average daily rate (ADR), up 1.5%.

Average Daily Rate 244

Average Daily Rate Occupancy Revenue Market 244

Hotel Business

APRIL 15, 2024

decrease in occupancy, which was driven in part by a 1.3% decrease in occupancy, which was driven in part by a 1.3% Elevated costs meant total revenue growth failed to translate into profits. January’s total revenue growth of 3% failed to offset the 220-basis point contraction in margins, causing a 5.7% drop in demand.

Occupancy 59

Occupancy Consumer Forecasting Market Share 59

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. hotels at 11%. hotels at 5%.

Occupancy 98

Occupancy Hotels Revenue Branding 98

Hotel Business

DECEMBER 12, 2022

The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Hotels are generating better revenue. Domestic tourism is still going strong.

Occupancy 115

Occupancy Ancillary Revenue Upsell Revenue 115

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. This can help fill rooms that might otherwise go unoccupied and increase revenue. This can attract large groups of guests and increase revenue.

Occupancy 86

Occupancy Hotel Sales Revenue Sales 86

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

Hotel Business

APRIL 5, 2024

“Events such as the upcoming total solar eclipse provide an opportunity for hotels to bring in critical revenue by capitalizing on surges in demand,” said Jason Lugo, market VP for the Americas, SiteMinder. Additionally, they have employed clever, dynamic revenue management strategies to ensure their prices reflect the demand.”

Occupancy 64

Occupancy Upsell Revenue Revenue Management 64

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 277

Average Daily Rate Occupancy Revenue Hotels 277

Hotel Business

APRIL 26, 2024

Accor , for the first quarter ended March 31, reported revenue of 1.236 billion euros ($1.324 billion), up 8% on a like-for-like (LFL) basis compared with the first quarter 2023. In France, which represents 44% of the region’s room revenue, the Paris region and the provinces posted comparable RevPAR growth. over the last 12 months.

Revenue 59

Revenue Occupancy Services Management 59

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

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 180

Average Daily Rate Revenue Occupancy Resorts 180

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

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? appeared first on Revfine.com.

Overbooking 94

Overbooking Revenue Occupancy Hotels 94

Hospitality Net

APRIL 15, 2024

results were robust with revenue per available room (RevPAR) rising 6.9% year over year (YoY) via gains in occupancy (+2.9 Weekly U.S. percentage points [ppts]) and average daily rate (ADR, +2.1%).

Average Daily Rate 225

Average Daily Rate Occupancy Revenue 225

Hospitality Net

MARCH 11, 2024

Growth in revenue per available rooms (RevPAR) returned to the U.S. Occupancy held somewhat steady, average daily rate (ADR) increased, weekday (Monday-Wednesday) performance grew, and group demand exploded, surpassing both the 2023 and 2019 comparables. following the previous week’s decrease.

Average Daily Rate 253

Average Daily Rate Occupancy Revenue 253

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

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 103

Revenue Occupancy Operations Travel 103

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

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 188

Occupancy Events Revenue Operations 188

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

Hospitality Net

APRIL 18, 2024

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

Average Daily Rate 202

Average Daily Rate Market Marketing Occupancy 202

STAAH

AUGUST 22, 2023

With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. To conclude Optimising revenue during low occupancy doesn’t have to be difficult.

Occupancy 78

Occupancy Forecasting OTA Revenue 78

Hospitality Net

FEBRUARY 26, 2024

STR’s global "bubble chart" update as of 10 February 2024 shows that 74% of markets increased revenue per available room (RevPAR) from the comparable period in 2023. Growth was balanced with 64% of markets showing increased occupancy and 70% achieving a higher average daily rate (ADR) than last year.

Average Daily Rate 238

Average Daily Rate Market Marketing Occupancy 238

Hotel Management

JULY 4, 2023

The average occupancy rate for commercial accommodation increased across all states and territories in Australia in 2022 and was 65% on average across the year higher than in the past two years, which averaged 43% and 47%, but below the rate of 74% in 2019. increase on December 2019 – in line with rising demand.

Average Daily Rate 147

Average Daily Rate Revenue Accommodation Occupancy 147

Hotel Management

FEBRUARY 13, 2024

Occupancies are at unparalleled levels over the concert periods, and we have also seen a surge in regional demand as Swifties take the opportunity to travel further. For both the Melbourne and Sydney concerts we’ve seen a bump in hotel occupancy around the event dates, and our restaurants have also seen great reservation numbers.

Occupancy 290

Occupancy Tourism Events Accommodation 290

STAAH

APRIL 28, 2024

STAAH saves several hours and brings revenue gains STAAH’s easy-to-use interface and high-performing technology means updates to rates and inventory are quick. In addition to the efficiency gains, STAAH has been crucial in ensuring inventory and rate management errors are minimised resulting in occupancy growth and increase in revenue.

Revenue 90

Revenue Occupancy Management Closing 90

Hospitality Net

FEBRUARY 12, 2024

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. year-over-year decrease in hotel demand and a 0.8% increase in supply led to a 2.5% increase in average daily rates (ADR), resulting in a 1.9%

Average Daily Rate 196

Average Daily Rate Occupancy Revenue Hotels 196

Hotelier Magazine

APRIL 25, 2023

In comparison to the same week in 2022, occupancy came in at 64.2 per cent); and Revenue Per Available Room (RevPAR) came in at US$99.67 (up 8.6 Among the top 25 markets, Minneapolis saw the highest YOY increase in occupancy (up 17.4 Hotels Report Increase in Occupancy, says STR appeared first on Hotelier Magazine.

Occupancy 64

Occupancy Average Daily Rate Hotels Revenue 64