Optimize Group Business by Bridging the Gap Between Revenue Managers and Sales
Experts in hospitality are forecasting growth in most major markets over the next few years. ... That's in part attributed to growing demand for meetings and events.
Search
Family trips are on the rise
Hotels are increasingly in demand More than 50 percent of families choose to stay in hotels. ... The World Travel Monitor® Forum is an exclusive industry gathering which discusses the latest travel industry trends and forecasts of tourism development.
Building a smart distribution strategy
Even though many hotels and associations forecasted high occupancy and rates, priceline.com's data indicated that much of the demand would not materialize. ... As with each of these strategies, assuming the hotel had a good occupancy forecast—and could drive incremental demand through the opaque channel, rather than diluting existing demand—they could easily
By Kelly McGuire, Chief Commercial Officer (CCO), KASA, HSMAI (USA)
Distribution vs Profitability – the future of hotel revenue management
Revenue management strategies have played a critical role in enabling hotels to cover their operating expenses during periods of low demand. ... Demand generation is a continuous process.
By Kiran Sunny, Content, Hotelogix
6 tips for Combating High Cancellation Rates on OTA Bookings
Analyse Forecasted versus Actual Demand : Long lead bookings are distorting actual demand levels. ... The difference between the forecasted demand and actual demand is the Forecast Error – the goal is for the error to be as low as possible.
By Taylor Smariga, Copywriter and Content Marketing Executive, Net Affinity
Achieving Total Revenue Management with Your Existing RMS
Often the discrepancies are too small to have a material effect on the room demand forecasting, but don't count on that carrying over to ancillary revenue, which usually has a smaller sample, and greater ... The earlier the system can get a sense of how much demand there is for certain kinds of ancillary revenue, the more accurate its forecast will be.
By Bernard Ellis, President and Founder, Lodgital Insights LLC
Goldilocks and the three reasons most hotel markets will not become overbuilt
In the absence of catastrophic events, hotel demand usually falls victim to the natural death of the up-cycle. ... Our Hotel Horizons ® forecasts portend such a balance. During the next two years, supply growth is expected to moderately exceed demand growth in the U.S. hotel market.
By Jack Corgel, Managing Director, CBRE Hotels’ Americas Research, CBRE Hotels
STR releases preliminary July 2016 data for Sydney
Based on daily data from July, Sydney reported the following in year-over-year comparisons: increases in supply (+3.4%) and demand (+3.5%); a 0.1% increase in occupancy to 83.4%; a 6.5% increase in average ... The August edition ofSTR's Market Forecast will be available at the end of the month. A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source.
STR releases preliminary July 2016 data for Singapore
Based on daily data from July, Singapore reported the following in year-over-year comparisons: increases in supply (+4.3%) and demand (+5.5%); a 1.2% increase in occupancy to 88.3%; a 0.5% decrease in ... The August edition of STR's Market Forecast will be available at the end of the month. A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source.
STR releases preliminary July 2016 data for London
Based on daily data from July, London reported the following in year-over-year comparisons: increases in supply (+2.8%) and demand (+3.1%); a 0.2% increase in occupancy to 88.4%; a 3.7% increase in average ... The August edition of STR's Market Forecast will be available at the end of the month. A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source.
HIP: Report On Current Business Activity
The latest HIP reading will be used to update e-forecasting.com's total US Monthly Hotel Forecast as well as market level forecasts for the top 25 US markets. ... The firm also covers EMEA markets via a partnership with HotStats with hotel market profitability forecasts.
Tourism in times of terror - Close to half of all tourists worldwide are changing their travel behaviour
Thus, IPK International forecasts a two per cent increase in trips abroad by Europeans, and as much as three per cent worldwide. ... The World Travel Monitor® Forum is an exclusive industry gathering which discusses the latest travel industry trends and forecasts of tourism development.
Hilton Worldwide Completes Baltic Treble
Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton Worldwide, said: "The Baltic states are amongst some the most attractive destinations in Europe for doing business and the WTTC forecasts ... Domas Dargis, CEO from EIKA said "Vilnius has a great demand for accommodation as the number of tourists and events continues to grow each year.
An HVS Guide to Hotel Revenue Management
Both methods rely heavily on evaluating the historical performance of a specific hotel, forecasted demand and occupancy, and vigilant monitoring of competitor pricing. ... Some hotel companies now have revenue-management systems that help manage inventory, as well as pricing, by forecasting demand by room type and occupancy.
By Breanna Smith and Justin Kaminski
Fighting Rate Disparity: Keep Your Room Rates in Check
Here we're focusing on the channel, since rates changing as the date of check-in approaches is normally just a reflection of an updated, clearer demand forecast for that date. ... Furthermore, demand on the date they were testing for was below hotels' forecasts, leading to prices dropping as check-in date approached. These results are… not the most encouraging.
By Taylor Smariga, Copywriter and Content Marketing Executive, Net Affinity
International tourism continues to grow above average in the first four months of 2016
UNWTO forecasts international tourist arrivals to increase by 3.5% to 4.5% over the full year 2016, in line with UNWTO's long-term projection of 3.8% growth a year for the period 2010 to 2020. ... Arrivals in the Caribbean (+6%) and North America (+5%) were fuelled by continued strong outbound demand from the United States, where tourism expenditure increased by 9% through May.
Horwath Special Market Report: Sydney Market Overview
Robust economic growth coupled with rising domestic and international tourism numbers should see demand for rooms continue to grow, offsetting the supply increases. 2016 is set to be another strong year ... Overall we forecast RevPAR to grow at a robust CAAG rate of 2.9% in the years to 2020.
iCARS Announces National Expansion
According to GBTA's BTI™ Outlook – Annual Global Report & Forecast, global business travel spend topped $1.2 trillion USD in 2015, growing five percent over 2014, and is forecast to reach 1.3 trillion ... "Travel professionals have long demanded safe and reliable transportation options and we're thrilled with iCARS' forthcoming national expansion," said Gary Bauer, founder and CEO of iCARS.
Midyear forecast: Will a slow start continue? | By Robert Rauch
Our forecast is only reduced by the poor Q1 start, hence, our 2016 forecast is reduced from 5% revenue-per-available-room growth to 3.75% since Q1 was virtually flat to 2015. ... Revenue Management —Demand forecasts by market are good but the real question is "What are the booking patterns in the market?" Also, what future dates are already selling and at what pace?
HIL: Predictive Analytics Point to 50% Probability for Recession
The latest HIL reading is used to update e-forecasting.com's total US Monthly Hotel Forecast as well as market level forecasts for the top 25 US markets. ... The firm also covers EMEA markets via a partnership with HotStats with hotel market profitability forecasts.