We are also starting to see encouraging demand trends, such as fewer group cancellations and solid leisure demand, with almost 70 percent occupancy on the weekends,” continued Mr. Smith. ... Outlook: As a result of the continued deterioration of lodging demand, we now expect RevPAR to decline more than our previous guidance.
Accurate short-term forecasting is essential The Rainmaker system forecasts hotel demand and then recommends the best room rate each night for guests based on their total customer value to help ensure ... Wiggins acknowledges that a year ago he would have named revolution’s long-term (13 months out) demand forecasting capabilities as the system’s most important feature, but today it is the short-term forecasting
Is discounting my rate having the desired impact on RevPAR, or are we trying to stimulate demand that just isn’t there. ... We looked at ADR, Occupancy, RevPAR, Supply, Demand and Revenue. Summary London as a whole has fallen -8.6% in RevPAR, -5.7% in Occupancy and -3.1% in Room Rate.
Regional hotel room rates have fallen more dramatically than was expected (by 11.9 per cent compared to a forecast of 8.7 per cent). ... This is thought to be the result of a reduction in corporate demand being substituted by lower rate leisure business.
Version 1.6 of the revolutionSM Product Suite includes demand forecasting and pricing optimization for marketing promotions, events and other factors that influence demand and drive revenue and profitability ... Secondly, the ability to forecast promoted demand along with the ability to forecast other, related demand streams increases forecast accuracy.
IDeaS drew on SAS' vast R&D resources to enable its customers to already benefit from more advanced, accurate forecasts. ... This information sharing will enable SAS' customers to target their marketing offers and to better manage demand.
In this depressed operating environment where room demand is waning and travelers and corporations are tightening their purse strings, expense control has become ever more crucial. ... In addition to forecasting NOI expectations, capitalization and discount rates analysis is essential to determine the values of income producing properties.
Hanson—a widely respected hospitality and travel researcher who created econometric models that transformed business analysis in the field—will present on the economy’s effects on lodging demand, both ... , and lodging; and detailed forecasts of critical economic indicators.
Whether you are a hotel trainer by title, or a department head, assistant manager, or shift supervisor, here are some ideas to make training happen every week, every day, every shift: When forecasting ... The best part is that when the recovery starts, your well-trained team will be ready to optimize profits when demand begins to soar once again.
Pullman hotels, designed for today’s business traveler, announced today that the pace of the brands expansion in the region has exceeded forecast with a hotel having opened every five weeks. ... These elements help to remove the guess work from today’s demanding business travel, keeping our guests efficient and connected whilst enabling them to be self sufficient or receive full service 24 hours
Due to the unstable economy, PKF-HR is forecasting a decline in hotel occupancy for the upcoming year. ... Urban hotel spas have lower revenues and inconsistent demand for services making scheduling more complicated.
Travelodge has exchanged contracts on 12 new hotels and is forecasting a strong flow in investment deals this year, as developers struggle to find demand for office and residential properties.
From 2008 through 2011, the cities of Fort Worth, San Antonio, Houston, Dallas, and Austin are forecast to benefit from annual demand growth in excess of 2.0 percent. ... All four of these cities are forecast to suffer annual declines in demand greater than 2.0 percent.
IDeaS Revenue Optimization, the leading provider of hospitality revenue management and optimization solutions and services, today announced that Grand Hotels NYC selected IDeaS unique forecasting and pricing ... New York City's Soho Grand and Tribeca Grand Hotels will deploy the IDeaS V5i On-Demand revenue management solution equipped with the Best Available Rate (BAR) module.
Travel Association, business travel is now projected to decline as much as 5.6 percent in 2009 (the original forecast at the end of 2008 was a 3.5 percent decline). ... The sagging economy, coupled with political demonization of business meetings, events, and incentive travel, has resulted in a significant decline in demand for business travel services.
What hoteliers are not realizing however is that the OTAs are also affected by the overall decline in travel demand (Expedia reported 7% decline in revenue in Q4 2008) and can help only so much. ... All industry forecasts indicate that in 2009-2010 the travel industry in North America will experience a major decline. GDS contribution is also projected to decrease by several percentage points.
Real investment spending is forecast to decline by 5% in 2009 and a further 1.25% in 2010. ... Overall, the Travel & Tourism Economy is forecast to grow by 4% per annum in real terms over the next ten years.
Our revised hotel industry forecast for the UK illustrates the toll that the contraction in economic growth and consumer spending is having on travel demand.
In December 2008 the World Travel Organisation (UNWTO) forecast that in 2009 there would be a decline in international tourism of approximately 0- 2%. ... Last year India received around 150,000 medical tourists and is forecasting an annual growth rate in this sector of 30%.
Room revenue at Marriott International Inc (MAR.N) is running 17 percent below year-ago levels, at the lower end of the hotel operator's recent forecast, according to Chief Financial Officer Arne Sorenson ... "I would not expect pronounced improvement in demand until we see improvement in the economy," he said at the Reuters Travel and Leisure Summit in New York.