What Is an Occupancy Rate?
Occupancy rate is a KPI used by those within the hotel industry to assess a hotel's performance. As a metric, it is concerned with the percentage of a hotel occupied, and can be used alongside other KPIs, such as ADR (average daily rate) and RevPAR (revenue per available room), as part of a revenue management strategy. Table of Contents: What Does the Occupancy Rate Stand for? What Influences the Hotel Occupancy Rate? How to Calculate Occupancy Rate How to Use Occupancy Rate Strategies to Maximize Occupancy Rate in Hotel Revenue Management 1. Competitive Offers 2. Enhanced Guest Experiences 3. Capitalize
Top Marketing Campaign Tips to Drive Hospitality Recruitment
Question for Our Hotel Marketing Expert Panel Attracting hospitality industry talent remains a challenge. What are your tips for successful marketing campaigns that drive recruitment? What channels work best? (Question by Jolien Alferink.) Our Marketing Expert Panel Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Max Starkov - Adjunct Professor Hospitality Technology, New York University Stephanie Smith-Sparks - Founder, Cogwheel Marketing Jacopo Focaroli - CEO &
Accommodation Providers: Strategic Tips to Get More Revenue
If you've ever considered becoming an accommodation provider or already own accommodation and want to maximize your revenue, this article is for you. In this in-depth dive into accommodation ownership, you can learn about the many different types of accommodation available for travelers and how you can get more revenue as an owner. Table of Contents: What Is the Hotel Industry? The Role of Accommodation Owners Types of Accommodations Chain Hotels Campsite Hostel Homestay Glamping
Marketing Tips For the Hospitality & Travel Industry During the Corona Crisis
During the coronavirus (COVID-19) crisis, there is a lot of uncertainty in the travel industry. Billions of damage are imminent for the travel industry. The only relief from measures against the Corona (COVID-19) virus can ease the economic pain. The hope of travel organizations is focused on summer and autumn
Do City Hotels Need to Stay Open or Close During the Pandemic?
In the wake of the COVID pandemic, it is fair to say that the hospitality and tourism industry has been hit hard. It has dealt with an unprecedented economic fallout as international travel became restricted, flights reduced, events cancelled or postponed, and attractions and entertainment venues closed for extended periods.
Tips for Hotel Revenue Forecasting in a Constant State of Uncertainty
The global hospitality industry has had its fair share of large-scale disruptions since COVID-19 first struck, and the hotel sector faces an uncharted recovery period ahead. Hoteliers can gain ground by using agile, accurate, and holistic revenue forecasting. Modern Tools for Modern Challenges Are you using outdated technology at your