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Hotel Magazine2020-02-08T14:37:36+01:00

What does GOPPAR stand for?

A key performance indicator, or KPI, is a quantifiable measurement of business performance. The use of KPIs is essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behaviour. GOPPAR is one of the most important KPI used by hotels for the purpose of revenue management. In this article we explain what GOPPAR stands for and why

What is an Occupancy Rate?

Occupancy rate is a KPI used by those within the hotel industry to assess the performance of a hotel. As a metric, it is concerned with the percentage of a hotel that is occupied and can be used alongside other KPI’s, such as ADR (average daily rate) and RevPAR (revenue per available room) as part of a revenue management strategy. What does occupancy rate stand for? In simple terms, occupancy rate refers to the number

Hotel KPI’s explained: ADR, REVPAR and GOPPAR

Revenue management is a data-driven approach to predicting customer behaviour, with a view to optimising product pricing and availability, in order to maximise revenue. It is especially useful in the hotel industry, because hotels have a limited number of rooms available and experience varying levels of demand. When carrying out a revenue management strategy, there are a number of key performance indicators, or KPIs, which should be tracked. Essentially, KPIs are quantifiable measures, which allow

What is an Average Daily Rate (ADR)?

Average daily rate (ADR) is a KPI which is commonly used for revenue management within the hotel industry. The primary value of ADR, as a metric, is its ability to reveal the average rental income connected to occupied rooms each day, which is valuable for revenue management. It can, therefore, give hotel owners an idea of their current operating performance, especially when compared to other hotels with similar characteristics. What is ADR? In simple terms,

VR Hotel Tour; 10 Amazing Examples of Virtual Reality Hotel Tours

One of the major issues facing the hotel industry is implementing the most effective methods to promote their premises. As clients now rely heavily upon the digital domain, it should come as no great surprise that the Internet represents an indispensable tool. One of the most innovative options is to highlight the associated amenities with the help of a VR hotel tour. Let us take a closer look at this concept. What is Virtual Reality?

How Can Voice Control Benefit the Hospitality Industry?

Successful leaders in the hospitality management understand the importance of embracing new technology, especially when it has the capacity to improve the customer experience. One example of a technology trend that has seen increased adoption rates in recent times is voice control technology, and it can be of great benefit to hotel owners. In this post, you will learn more about how voice control works, as well as some of its key benefits. Voice Control:

6 Must-Read Tips to Create The Perfect Virtual Reality Video

The hospitality and travel industry today have access to more marketing tools than ever before. While having a strong brand with high social media presence may sound great, you need to focus more on interactivity in order to be one step ahead of your competitors. For example, virtual reality videos enable users to be fully immersed in the hotel’s or resort’s experience as though they are already there. The following tips will help you create

What is TRevPar?

Total revenue per available room, or TRevPAR, is a KPI used by those within the hotel industry to assess business results. It is concerned with total revenue generated from rooms, and space available. As a result, it can play an important role in a revenue management strategy, and can provide

What is the Travelport Global Distribution System?

A global distribution system (GDS) is one of the key distribution channels for hotel owners, allowing travel agencies to access live information related to inventories and pricing, in order to sell hotel rooms to their customers. In this article, you will learn more about the Travelport GDS and the ways

The Latest Technology Trends in the Hospitality Industry

Keeping up with the latest technology trends is essential for those operating in the hospitality industry, because the industry itself is extremely competitive. This means that those who fail to adapt can quickly find that they are being left behind by hotel and travel companies that have implemented new approaches

7 Social Media Marketing Tips to Promote Your Hotel

The rise of social media platforms like Facebook, Twitter, LinkedIn and Instagram has meant that social media marketing is now more important than ever before and it provides a number of excellent opportunities for those in the hospitality industry. In this article, we take a closer look at social media

7 Ways to Transform a Hotel Room Into a Smart Room

The smart hotel room concept is one of the most important technology trends emerging within the hospitality industry today. Indeed, the idea of a smart hotel is attractive to customers, for a whole variety of reasons, including greater convenience and personalisation. However, while a growing number of owners are willing

5 Ways to Transform Your Hotel Into a Smart Hotel

Hotel owners and other leaders within the hotel industry are constantly striving for new ways to reduce costs and improve the customer experience, and one of the emerging trends within this area is smart hotel technology. In this article, you will find out more about what a smart hotel actually

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