Hotel Revenue Teams to Focus on Group Bookings in 2024
Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has announced the results of its third annual Trends & Predictions Survey.
Supplier News
Nearly 50 percent of Meeting Planners Dissatisfied with Costs, According to 2024 State of the Meetings Industry Report
Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and ConferenceDirect, a full-service global meetings solution company, announced the results of their annual report, 2024 State of the Meetings Industry. The collaboration reveals insights to help industry professionals understand what meeting planners and event managers expect and will prioritize in 2024.
Hotels under pressure to respond as OTA competition for guests lead gen explodes
The battle for direct bookings has entered a new phase as online travel agents (OTAs) ramp up efforts to establish ownership of hotel guests and their booking journeys, a new report from hospitality technology specialist SHR Group reveals1. While OTAs and hotels have a mutually beneficial relationship, the Hotel Industry Trends Report 2024 exposes for the first time the way a recent influx of marketing spend from OTAs is fast reducing hotels’ share of direct bookings. The share of reservations represented by direct bookings fell from 39% to 38%1 in 2023, having been stable for two years following a post-pandemic return to normal. This is the equivalent of approximately 7.8million global reservations in 2023 when applied to the worldwide hotel market2.
U.S. Group Revenue Recovery in Q4 Hits 110 Percent According to Hospitality Group and Business Performance Index by Knowland and Amadeus
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “Index”). The fourth quarter of 2023 demonstrated that group business in 10 of the top markets in the U.S. has recovered 110 percent compared to the same time in 2019. Group bookings are calculated using occupancy and average daily rate (ADR).
Mews Data Dive Reveals Online Check-ins and Revenue Beyond Overnight Stays Soar as Travel Tops Pre-Pandemic Levels in 2023
Mews, the industry-leading hospitality cloud, today released the Mews Data Dive, a real-time measure of hospitality's performance in 2023.
San Diego Seizes Top Spot for Year-over-Year Growth in Group Business for December
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released the top market performance numbers for December, citing San Diego as having the highest meeting volume improvement with 29.2 percent year-over-year (YoY) growth. Coming in a close second was San Francisco, where event volume increased 21.5 percent, a positive sign the industry is bouncing back in the cities by the bay. This data is sourced from Knowland’s sales intelligence platform and designed to help hoteliers protect and grow their revenue base.
Knowland Expands Further in the Middle East, Opens Riyadh Market
Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced its expansion in the Middle East with data collection in Riyadh, Saudi Arabia, to accommodate the growing demand and fierce competition facing new hoteliers in the market.
Knowland Showcases Business Milestones and Latest Innovations for Enabling Revenue Growth in Hospitality
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, showcased its dedication to helping customers increase revenue, expand market share, and adapt to shifting dynamics through innovative enhancements in services and data optimization in 2023.
Chicago Sees the Highest Group Volume in November, Knowland Reports
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Chicago experienced the highest volume for meetings and events, together with 8.6 year-over-year percent growth. Washington, D.C., and Phoenix were also top performers, with double-digit growth at 13.5 and 10.7 percent, respectively. Overall, the volume of U.S. meetings and events increased by a modest 5.6 percent, as expected, due to the Thanksgiving holiday. This data is sourced from Knowland’s sales intelligence platform and designed to help hoteliers protect their revenue base.
IDeaS Releases 2024 Hotel Technology Predictions
IDeaS, a SAS, company, the world’s leading provider of hotel revenue management software and services, released Future Forecast: Six Hotel Technology Predictions for 2024. Gathering information from some of the top minds in the industry, IDeaS releases six bold hotel technology predictions that it believes will shape the year to come.
Nashville Hits 31.5 Percent Meeting and Event Growth in October, according to Knowland
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Nashville experienced strong growth for meetings and events since last year at 31.5 percent. Las Vegas came in second with 20.3 percent year-over-year growth. Overall, U.S. industry growth of meetings and events increased by 12.8 percent. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base.
Latest Cvent Planner Sourcing Report Reveals 67% of Planners Across Europe Have Increased Business Event Budgets Amid Rising Costs
Cvent, a market-leading meetings, events and hospitality technology provider, has published the latest instalment of the Cvent Planner Sourcing Report: Europe Edition October 2023. The report provides the business events industry, including event organisers, hoteliers, venue operators and destination management organisations, with deep insights into planner trends as well as advice on how to meet evolving industry demands and overcome ongoing market fluctuations.
RateGain announces results for Q2 & H1FY24; Accelerates Profitability by 157% with Robust Revenue Growth and Improved Operational Performance
RateGain Travel Technologies Limited (NSE: RATEGAIN), a global provider of AI-powered SaaS solutions for the hospitality and travel industry, today announced its financial results for Q2 & H1FY24 ending on September 30, 2023, reporting exceptional performance across key financial and operating metrics, as the company continues to build on its momentum from last year.
Hospitality Group and Business Performance Index by Knowland and Amadeus Shows Tampa, Las Vegas, and San Diego Leading U.S. Group Revenue Recovery in Q3
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index. The third quarter of this year shows the top 25 U.S. markets have recovered 99.1 percent for group business compared to the same time in 2019. Group bookings are calculated using occupancy and average daily rate (ADR.)
Hotel metrics: How to measure performance in the hotel industry
Hotel metrics, often referred to as key performance indicators (KPIs), are essential data points that hoteliers use to measure the performance and success of their establishment.
Nashville and Los Angeles Lead in Year-over-Year Percent Growth for September
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Nashville has seen the highest percent growth at 30.7 percent, with Los Angeles coming in at 22.3 percent over 2022. For the top five performing markets, National Associations took the lead, with Healthcare, Education, and Weddings leading as top industry growth drivers. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base.
New Guest Experience Report released by Shiji ReviewPro, now with City and Hotel Rankings
Shiji, the global technology brand, is thrilled to announce the release of Shiji ReviewPro's Guest Experience Benchmark for the second quarter of 2023, featuring two major additions designed to empower hoteliers worldwide in assessing hotel performance: the City Hotel Rankings and City Benchmark sections. In this latest Q2 report, Shiji added rankings for the top 5-star, 4-star, and 3-star hotels in prominent cities such as New York, London, Dubai, Sydney, Cape Town, and Rio de Janeiro. Furthermore, the benchmark report presents rankings for 50 of the world's most iconic cities based on their average Guest Review Index (GRI). This comprehensive Guest Experience Benchmark report stands as the most extensive examination of online reputation within the hospitality industry currently available. Some key insights from the Q2 2023 report:
Hoteliers bring in an additional €25k over the summer by upselling their available space to provide more amenities to guests
Mews, the industry-leading hospitality cloud, has released its new report into hospitality’s performance in the summer of 2023. The report, called the Mews Data Snap, also compares this year’s data to summer 2022 to see how the industry is changing.
Travel Recovery Continues as Hoteliers Embrace Upselling with 70% Increase in Summer 2023, According to Mews Data Snap
Mews, the industry-leading hospitality cloud, today released the Mews Data Snap, a real-time measure of hospitality's performance during the summer of 2023 (June, July, and August). The report also compares this year's data to summer 2022 to pinpoint how the hospitality sector is changing.
Knowland Reports 21 Percent Growth in Meetings and Events in August
Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports overall U.S. meeting and event volume for August 2023 was up 21 percent over August 2022. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base.