Revenue Management: Have You Been Doing It Wrong?
The monthly forecast should be the base of the RM work to establish a good strategy. ... Your revenue manager does not create demand, it optimizes what comes in.
Search
Quore CapEx Tool is Helping Hotel Management Companies Save Time and Money
The tool - tied to the hotel inventory within Quore - also makes it easy to track warranty information on inventory assets, giving management an accurate budgetary forecast on any items that might need ... Quore is the most robust solution on the market, and we are routinely adding features to meet customer demand."
In Focus: Vietnam, Discover the Boundless Allure of the Land of Rising Dragon
Looking ahead, healthy domestic demand supported by strong private credit growth and rapid income growth will partly offset dimmer external demand conditions. ... Moving forward, the Economist Intelligence Unit (EIU) forecasts Vietnam's economy growth to soften to 6.9% in 2019. This is due to weaker global demand and rising trade protectionism.
By Hok Yean Chee and Chariss Kok Xin
The 2020 Virtuoso® Luxe Report: "Carpe Diem," Croatia, Antarctica And Greece
The Luxe Report, which has earned Virtuoso its reputation as a respected trend forecaster, reveals consumer inclinations in high-end and experiential travel. ... Untouristed and Unexpected: With some favorite destinations seeing an untenable rise in demand, the well-traveled luxury set is seeking remote, unspoiled destinations to avoid crowds at over-touristed
Myrtle Beach Seaside Resorts Optimizes Revenue and Loyalty at 7 Mixed-Use Condo Hotels with Centralized Maestro PMS Multi-Property Solution
Maestro Analytics business intelligence collects property performance metrics and guest data that lets Myrtle Beach Seaside Resorts' managers understand and leverage demand trends and market to its guests ... "Analytics lets me create custom reports that track current forecast accuracy and performance compared to the same day last year.
ITB Asia continues to break records with exhibitor numbers at all time high
To meet demand, Asia's leading trade travel show opens with an expanded two floors and introduced a dedicated MICE Show Asia 2019 Record number of over 1,300 exhibitors and more than 1,250 buyers at this ... Attendees will hear about forecasts for the global meeting and events industries in 2020, as well as how digital transformation is impacting the industry.
AHIC 2020 to challenge traditional hotel investment mindset and call for radical change in its mission to ‘transform tomorrow’
Jonathan Worsley, Chairman of Bench Events and Founder of AHIC, said: "With the theme 'transform tomorrow' set for AHIC 2020, we're not forecasting a gradual shift in the way we do things; rather, we're ... In Dubai, total accommodation revenue has marginally dropped from a city high of US$21 billion in 2014 to a forecasted total of US$19 billion in 2019.
How to Avoid Lost Hotel Revenue After a Disaster
affecting demand Future reservations or "on the books" reports for your booking window More on this below. ... Some of them include: Cancelations reports (after the disaster) Market forecasts from your local CVB or a reputable valuation company.
By Romulo Vallejo, Consultants, Cayuga Hospitality Consultants
Now Open: Offsite At Fitler Club - Philadelphia’s Newest Collaborative Workspace
According to a recent report, 7 million people are forecasted to be working in coworking spaces by the end of 2019. ... Other companies such as Kismet Cowork and Bond Collective have also tapped into this trend and are exploring expansion options to accommodate the demand as well.
‘Hospitality for Millennials’
They want meaningful travel experiences and demand the distinct and different". ... The new demand described above shown the rise of experiential travel.
By Korosh Farazad, Founder & Chairman of Farazad Group of Companies and Member of Board for Trinity Hospitality Group, Farazad Group Ltd.
Elounda S.A Hotels & Resorts Chooses IDeaS Revenue Solutions to Drive Profitability and Performance
Elounda S.A Hotels & Resorts has selected IDeaS G3 Revenue Management System (RMS) to improve its forecasting capability and raise profitability by driving higher yielding business. ... demand for both the component rooms and their individual physical parts.
ProfitSword Adapts to Ongoing Market Growth With Appointments of Chief Operating Officer and Director of Technology
The appointments come as a result of ProfitSword's continued market expansion and increasing demand for its business intelligence and data management solutions. ... The appointments come as a result of ProfitSword's continued market expansion and increasing demand for its business intelligence and data management solutions.
The 2019 Indian Hospitality Trends & Opportunities Report
Why was it that despite the demand-supply equation favouring growth across most markets, the nationwide numbers (both occupancy and average room rate) barely moved, yet again? ... and supply forecasts than any other survey of a similar nature.
STR: Key German Hotel Markets Forecasted For Performance Growth, Despite Looming Recession
Six of seven key markets in Germany are forecasted to post RevPAR increases in 2020, due to a continued rise in average daily rate (ADR). ... Supply growth is expected to surpass demand in a number of markets, including Frankfurt, Stuttgart and Munich .
Remington Hotels Selects IDeaS to Enhance Revenue Optimization, Clarity and Control
demand. ... Forecast accuracy drives everything you do, and an accurate RMS will pay for itself 10 times over.
CoStar Group to Acquire STR, a Global Leader in Benchmarking & Analytics for the Hospitality Industry
We perceive a growing demand from hotel clients for additional aggregated and anonymized bookings and revenue information, including robust forecasts. ... We are not able to forecast with certainty whether or when certain events, such as acquisition-related costs, the exact timing of closing of the acquisition, or the exact amounts or timing of any investments
Revenue Management trends at the end of the decade, or Hindsight 2020
definition is 'optimal', which will help you provide the right service to the right customer at the right time for the right price - by understanding, anticipating and influencing consumer behavior through demand ... forecasts.
By Ira Vouk, Hospitality Tech and AI Consultant, Hospitality 2.0 Consulting
Hotel Budget Planning: Use BI to Create a More Profitable 2020
You can also closely examine unconstrained demand, stay patterns, and booking trends - revealing your booking highs and lows as they unfolded throughout 2019 and forecasted trends for 2020. ... Ensuring you are accurately forecasting your group demand alongside transient is crucial for budget accuracy.
By Kevin Duncan, Executive Vice President, Product, Cendyn™
STR: Middle East and Africa hotel performance for August 2019
According to STR's market forecast, Abu Dhabi is expected to see further RevPAR growth for 2019 overall. ... Analysts highlight that demand (+7.0%) in August outpaced supply (+3.0%), and this is a trend likely to continue as supply growth is expected to remain muted.
Powerful Collaboration Produces Efficient and Cost-Saving Labor and Data Management
And it goes even further, prompting hotels to adjust labor plans and schedules daily, as the forecast and staff changes. ... "Principally, the integration of ProfitSword and Hotel Effectiveness distinctly aligns two important applications to match dynamic scheduling with changing demand needs.