Groups & Corporate Main Focus for Hotel Revenue Teams in 2023
Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has announced the results of its second annual Trends & Predictions Survey.
Supplier News
Industry insights: Mews releases its bi-annual hospitality data dive
Mews, the innovative hospitality cloud, has released its latest report examining hospitality’s performance and trends.
Agilysys Fiscal 2023 Third Quarter Revenue Rises 26.5% to Record $49.9M
Agilysys, Inc. (NASDAQ: AGYS), a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported operating results for its fiscal 2023 third quarter and period ended December 31, 2022.
Q4 2022 Meeting Volume Outperforms Knowland Meeting Recovery Forecast by 8.4 Percent
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the quarterly update to its U.S. Meetings Recovery Forecast (MRF) and associated Top 25 U.S. Meetings Recovery Forecast (MRF25) realizing strong performance ending 2022 on a high note and shifting 2023 higher than the Q3 forecast. Click here to view the most current forecasts.
Laasie Kicks Off 2023 with $200M Incentivized Booking Revenue and Record-Breaking Sales
Laasie has reached its highest-ever market share, with a recording-setting year of sales, over 925 new property implementations, $200M in incentivized booking revenue, and over $16M in guest rewards value. Also fueling the hotel loyalty rewards innovator's continuous growth is the addition of 9 strategic new hires across product, operations, and sales. The company is already on pace to outperform projections in 2023.
Agilysys to Report Fiscal 2023 Third Quarter Results January 24th and Host Conference Call and Webcast
Agilysys, Inc. (AGYS), a leading global provider of hospitality software solutions and services that deliver High Return Hospitality, announced today that it will release its fiscal 2023 third quarter results after the market closes on Tuesday, January 24th, 2023 and host a conference call and webcast at 4:30 p.m. ET that day. Both the call and webcast are open to the public.
Resilience and recovery define booking momentum in 2022
2022 has been a good news story for the global travel industry. In times of disruption, the sector has been resilient, and accommodation businesses worldwide have continued to rebound.
Monthly U.S. Meetings and Events Volume Beats 2019 Levels for the First Time Since the Pandemic, According to Knowland
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for November, reporting that November 2022 achieved 103.1 percent of November 2019 volume, exceeding monthly pre-pandemic levels for the first time. Knowland reports November this year with 122.5 percent growth over November 2021. In line with native seasonality, November 2022 declined by 11 percent over October 2022.
U.S. Meetings and Events Eclipse 80 Percent Recovery for Fifth Month in a Row, Knowland Reports
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for October, reporting 131.7 percent growth over October 2021. Additionally, October 2022 grew by 21.2 percent over September 2022.
Holiday Season Looks Strong for America’s Hotels
The latest edition of the Duetto Pulse Report, which tracks forward-looking hotel performance data from September 2022 and compares it with August 2022, same time last year (STLY) and 2019 figures, is showing that North America’s hotels can look forward to a robust holiday season this year, with Thanksgiving, Christmas and New Year bookings showing healthy performance in several major cities.
Agilysys to Report Fiscal 2023 Second Quarter Results October 25th and Host Conference Call and Webcast
Agilysys, Inc. (AGYS), a leading global provider of hospitality software solutions and services that deliver High Return Hospitality, announced today that it will release its fiscal 2023 second quarter results after the market closes on Tuesday, October 25th, 2022 and host a conference call and webcast at 4:30 p.m. ET that day. Both the call and webcast are open to the public.
Knowland’s Q3 Meeting Recovery Forecast Indicates Strongest Growth Thus Far in 2022
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the quarterly update to its U.S. Meetings Recovery Forecast (MRF) and associated Top 25 U.S. Meetings Recovery Forecast (MRF25) showing stable performance pushing slightly ahead of the Q2 forecast. Click here to view the most current forecasts.
Latest Europe Cvent Planner Sourcing Report Reveals 83% of Planners Across the UK and Europe Expect to Host More In-Person Events in 2023 When Compared to 2019
The October 2022 Cvent Planner Sourcing Report: Europe Edition, published today, reveals that in-person events are a top priority for planners across the UK and Europe as 90% of respondents stated they are currently sourcing in-person events; and 83% reported that they expect to host more in-person events in 2023 when compared to 2019. The report results suggest strong momentum in the return of in-person events, offering a positive outlook for hotels and venues that rely on in-person MICE business to drive revenue.
Monthly Meeting Volume Reaches 89.5 Percent of 2019 Levels According to Knowland
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its U.S. monthly meetings and events data for September, reporting 135.4 percent growth over September 2021. Additionally, September 2022 grew by 23.7 percent over August 2022.
Global Hotel Occupancy Exceeds Pre-Pandemic Levels in July and August With a Strong Q4 Forecasted Across All Segments
Group and business travel segments are showing steady recovery in Q4, with 4.3 million group room nights already booked for H1 2023.
After an outstanding summer of travel, Amadeus’ Agency360® and Demand360® data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023.
Amadeus’ in-depth Demand360® business intelligence data, which offers both retrospective and forward-looking insights to inform revenue strategy, reveals that global hotel occupancy has exceeded pre-pandemic levels consistently throughout the summer. For July and August 2022, hotels have seen a global occupancy average of 67% compared with an average of 64% over the same timeframe in 2019 - a 3% increase from 3 years ago.
These positive trends indicate consistent consumer confidence when it comes to booking travel for future stay dates, laying excellent foundations for a strong Q4 where on-the-books data is already outpacing 2019 bookings.
Mirroring the recovery of occupancy rates is the stabilization of booking lead times. 2022 now virtually matches the booking behaviors seen in 2019 with 53% of bookings made in the 0-7 day window versus 50% of bookings made in this timeframe in 2019. As the booking lead time improves, this implies increasing traveler confidence as people make longer term commitments. Average Daily Rates (ADR) also continue to trend positively for the fall season, exceeding 2019 for the remainder of 2022 and, as usual, peaking around the Thanksgiving holiday (US) and Christmas.
Group travel is set for a strong conference season in Q4. Global group occupancy is consistently between 1-2% of pre-pandemic levels for the remainder of 2022 as the conference sector starts to rebound. Amadeus data shows that group bookings are now also starting to extend more confidently into 2023, with 4.3 million bookings already made for H1 2023.
“Opportunities to get together in person need to be leveraged to have the greatest impact possible. We want to make sure we design events that matter, where people come back energized and solutions are created. The power of human connections is the ultimate renewable resource,” added Mariela McIlwraith, Chief Sustainability Officer, Events Industry Council (EIC) Centre for Sustainability and Social Impact.
With group travel set for strong recovery into Q4 and beyond, hoteliers can confidently plan in advance for larger groups, mitigate the potential impact of staff shortages, and begin to think about what new and exciting event technology to implement to support planners’ demands.
Business travel is also seeing a steady recovery as the year continues. 2022 is closing the gap to 2019 levels according to Amadeus’ Agency360® data, which reveals that hotel bookings across all major global distribution systems (GDS) have increased 98% in August 2022 compared to January 2022. At the start of this year, hotel booking volumes fell behind 2019 performance by 62%, but this gap has progressively closed over 2022, with global hotel booking volumes in August finishing 23% behind 2019 levels.
A new Amadeus survey of travel agents supports this, as 60% of respondents say they are now logging into the GDS more than 4 times a day as business travel resumes. 7 in 10 agents agree that COVID-19 has heightened their roles as price, health, and safety remain the most important factors for travelers globally.
With more travelers looking to travel agents for support on their end-to-end journey, a connected travel ecosystem and healthy distribution mix is more important than ever for hoteliers and destinations to offer a wide variety of promotions and accommodations.
Katie Moro, Vice President, Data Partnerships, Hospitality, Amadeus, concludes, “It is very encouraging to see such positive data this summer across all segments of hospitality. As the appetite to travel looks set to continue to build in the forthcoming months, it is essential that hoteliers and destination marketers have accurate, forward-looking data insights to enable them to maximize their revenue strategies and minimize the ongoing challenges connected to staff shortages. With this insight, they can also understand more about who is travelling, enabling them to deliver a truly differentiated experience.”
Notes to the editors:
About Amadeus’ Demand360®
Amadeus’ Demand360® provides hoteliers the deepest level of market occupancy insight, including two years of historical and one year of forward-looking on-the-books data from over 35,000 data providers, enabling users to compare performance against their competitive set, identify new trends, and make the most informed revenue strategy decisions possible.
About Amadeus’ Agency360®
Agency360® is the industry’s only business intelligence solution that tracks 100% of travel agent bookings across all three major GDS providers: Amadeus, Sabre, and Travelport. Identify and capture revenue opportunities early on with forward-looking data about agency booking patterns. Stay flexible with an understanding of which agencies to prioritize as booking behaviors evolve and remain confident that you’re making the most informed decisions possible.
2022 RFPs for Weddings are Up 55% from Pandemic Lows
The events business suffered catastrophic contraction during the first 2 years of the covid pandemic when state and local governments restricted gathering sizes or mandated shelter-at-home orders. It was no surprise that events contracted by 50% and put the 336,000 wedding-related businesses in cold storage or on life support.
Knowland Launches Portfolio Capture, the Industry’s First Meetings and Events Solution Designed for Management Companies and Ownership Groups
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today introduced Portfolio Capture, to provide a comprehensive, unified view of group business performance across an entire portfolio. This complement to the Knowland platform makes it easy for asset managers and ownership groups to benchmark properties in their portfolios against each other, view competitive performance, and identify top sales opportunities. These features help maximize asset utilization, grow group market share, and improve sales efficiency across properties.
Knowland Reports Meetings and Events Increase 136.1 Percent in August
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its monthly meetings and events data for August, reporting 136.1 percent growth over August 2021. Additionally, August increased 6.7 percent over July 2022.
Seasonal travel’s big bang continues with Europe’s never-ending summer
Since late April, SiteMinder’s World Hotel Index has hovered between 90% and 100% of 2019’s record-breaking year for hotel bookings, as we witness a new pattern of consistency for the global accommodation industry. Below is a snapshot of some of the markets and nations contributing to this trend.
Guesty Raises $170 Million to Power the Next Generation of the Hospitality and Property Management Industry
Guesty, the leading property management platform for the short-term rental and hospitality industry, today announced it has raised a $170 million funding round, led by the Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. The Series E capital will be used to scale the company's global operations to meet increasing demand, pioneer new solutions that support the growing needs of hospitality operators, secure key acquisitions, and expand into new business verticals to solidify Guesty's position as the industry's gold-standard property management platform.