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Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples

2024-04-21T13:46:06+02:00

The year 2023 has brought about significant changes in the hotel industry, with revenue management practices and trends evolving rapidly. As these trends continue to take shape, their impact will undoubtedly shape strategies and operations well into 2024. This article provides valuable insights into the key factors influencing the financial landscape of the hotel industry, offering practical examples from hotels

Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples2024-04-21T13:46:06+02:00

Short-Term Rental Data: A New Technique to Forecast Demand at Your Hotel

2024-04-10T16:59:43+02:00

The hospitality sector has long underestimated the influence of short-term rental accommodation on their operations, viewing it as a specialized lodging type that wouldn't impact conventional hotel reservations. However, the swift expansion of short-term rentals, spearheaded by organizations like Airbnb and VRBO, has made an undeniable mark on the hotel industry. The Importance of Short-Term Rental Bookings There's a growing

Short-Term Rental Data: A New Technique to Forecast Demand at Your Hotel2024-04-10T16:59:43+02:00

Guest Expectations in 2024: 8 Trends You Should Be Aware of

2024-02-26T17:27:28+01:00

As time passes and technology keeps evolving, we enter into a new era of guest expectations. It's no longer enough to simply meet their needs, and the challenge now lies in exceeding them. In this dynamic landscape, where every guest is an insightful traveler armed with high expectations, how can you ensure your property fulfills those expectations and stands out?

Guest Expectations in 2024: 8 Trends You Should Be Aware of2024-02-26T17:27:28+01:00

Hotel STAR Report: Clear Introduction for Hoteliers

2024-03-22T10:44:55+01:00

Hotel STAR Report The Hotel STAR Report is a critical performance benchmarking tool in the hospitality industry, providing detailed revenue and occupancy data compared to competitors. It is important because it helps hoteliers make informed pricing, marketing, and operational decisions by understanding their market position and identifying trends. Ultimately, it aims to boost profitability and market share. Key Takeaways The

Hotel STAR Report: Clear Introduction for Hoteliers2024-03-22T10:44:55+01:00

Revenue Management Trends: Latest Developments of 2024

2024-03-24T15:31:06+01:00

Revenue Management Trends Revenue Management trends refer to the evolving strategies and technologies used in optimizing income and profit in various industries, especially hospitality. These trends are critical as they involve adapting to market changes, utilizing data analytics for informed decision-making, and embracing digital transformation. They enable businesses to forecast demand, set dynamic pricing, and manage inventory efficiently. Staying current

Revenue Management Trends: Latest Developments of 20242024-03-24T15:31:06+01:00

Embracing Revenue Management Technologies in 2024: A Guide for Progressive Hoteliers

2024-01-28T17:37:12+01:00

As we navigate through 2024, the hospitality sector is undergoing a transformative phase, heavily influenced by the integration of cutting-edge technologies and innovative strategies. These changes are pivotal in not only enhancing guest experiences but also in driving revenue maximization. One noteworthy trend is the increasing adoption of revenue management technologies in the hotel industry, a movement gaining momentum in

Embracing Revenue Management Technologies in 2024: A Guide for Progressive Hoteliers2024-01-28T17:37:12+01:00

The Development of Revenue Management in the Hospitality Industry

2023-11-21T16:34:20+01:00

In recent years, the hospitality industry has navigated unique challenges. As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. These changes, crucial for adapting to new market conditions, enhancing efficiency, and aligning with customer preferences, notably accelerate technological integration. Revenue Management Trends in the Hospitality Industry This article delves

The Development of Revenue Management in the Hospitality Industry2023-11-21T16:34:20+01:00

Forward-Looking Data to Understand Guest Behavior and Upcoming Trends

2023-12-06T11:15:38+01:00

Question for Our Revenue Management Expert Panel: What Forward-Looking Data Should Hotels Use to Understand Guest Behavior and Upcoming Trends? Our Revenue Management Expert Panel Nikolas Hall - Principal Owner, N. Hall Consulting Chaya Kowal- Cluster Director Of Revenue Management, Potato Head Family Damiano Zennaro - Founder, DZ Consulting Heiko Rieder - Vice

Forward-Looking Data to Understand Guest Behavior and Upcoming Trends2023-12-06T11:15:38+01:00

7 Business Trip Trends For Hotels to Maximize Profit

2024-04-22T12:40:22+02:00

Business Trip Business trip trends for hotels highlight evolving preferences and technologies shaping corporate travel accommodations. Emphasizing efficiency, connectivity, and tailored services, these trends are crucial for hotels to attract and retain business travelers, ensuring competitive advantage and revenue growth in a dynamically evolving hospitality industry. Key Takeaways Bleisure Travel: Merging business and leisure travel, enhancing traveler satisfaction and potentially

7 Business Trip Trends For Hotels to Maximize Profit2024-04-22T12:40:22+02:00

Where is the Data? How Hotels are Changing Targets for Data Collection

2023-12-06T13:36:23+01:00

Data is the blood life – or oxygen – for businesses, but only if one knows how to make sense of it. The sheer volume and scale of data available to hoteliers today are immense, and operators are finding new ways of turning the overwhelming deluge of information from a curse into a blessing. The process involves rethinking their data

Where is the Data? How Hotels are Changing Targets for Data Collection2023-12-06T13:36:23+01:00

What Revenue Management Trends and Strategies will we see in 2023?

2023-12-06T13:37:22+01:00

Question for Our Revenue Management Expert Panel: What are your predictions for the revenue management trends and strategies we can expect to see in 2023? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis

What Revenue Management Trends and Strategies will we see in 2023?2023-12-06T13:37:22+01:00

Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities

2023-12-06T13:38:33+01:00

There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. What could have been the

Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities2023-12-06T13:38:33+01:00

Role of a Revenue Manager is Shifting Thanks to Automation

2023-12-06T15:09:26+01:00

Like much of our world today, the hospitality industry is constantly changing and evolving beyond what revenue managers and leaders of the past could have imagined. During unprecedented change, automation and new technology have become essential to successfully navigating the post-COVID hospitality landscape. Revenue Managers Becoming Strategists But with any change, comes reservation and distrust. As the industry continues to

Role of a Revenue Manager is Shifting Thanks to Automation2023-12-06T15:09:26+01:00

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!

2023-12-06T15:09:45+01:00

When you review your hotel's mid-year numbers, what do you see? Are your occupancy rates up? Is revenue up? Is your hotel enjoying a revenue boost from 2019? A sample of over 400 revenue-managed hotels found they're on track to close 2022 with a 15%-40% revenue boost from 2019. A Decrease in RevPar for European Hotels A review of May

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!2023-12-06T15:09:45+01:00

An Analyze of How Hoteliers Handled Revenue Management During the Pandemic

2024-04-02T13:13:41+02:00

Using past data to predict future revenue during a pandemic might seem counterintuitive to many hoteliers. After all, hotel revenue management is always a complex science. How can you predict anything during a pandemic? In this article, you’ll learn how fellow hoteliers dealt with the Corona pandemic. Three Different Paths During the Pandemic As a hotelier, you’ve faced an unusual

An Analyze of How Hoteliers Handled Revenue Management During the Pandemic2024-04-02T13:13:41+02:00

What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?

2023-12-06T16:07:14+01:00

Question for Our Revenue Management Expert Panel: What are the top innovations and trends in hotel revenue management that we can expect to see in 2022? Our Revenue Management Expert Panel Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Paulo Aragao - Revenue Management Professional Sandra Gannon - Commercial Consultant, Revenue

What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?2023-12-06T16:07:14+01:00

Revenue Management After COVID-19 – “Innovating Through Uncertainty”

2024-02-24T15:43:18+01:00

Revenue Management After COVID-19 Revenue management after COVID-19 refers to adapting pricing and inventory strategies to the post-pandemic market conditions. Businesses must recover losses, cater to changing consumer behaviors, and seize new opportunities, ensuring sustainable growth and resilience in the face of future challenges in the hospitality and travel industries. Key Takeaways The Role is More Important Than Ever: Post-COVID,

Revenue Management After COVID-19 – “Innovating Through Uncertainty”2024-02-24T15:43:18+01:00
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