What Is RevPAR?
Revenue per available room, or RevPAR as it is usually shortened, is a KPI used within the hotel industry to assess financial and business performance. As a metric, it concerns both room revenue and occupancy rate, which makes it an important indicator of a hotel's overall performance and a valuable component of a revenue management strategy. What Does RevPAR Stand for? Essentially, RevPAR measures a hotel's average daily rate and its ability to fill rooms.
What is Revenue Management?
What is revenue management, and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution in order to maximize earnings. Revenue management is crucial for hotels and similar businesses because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are 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 behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what GOPPAR stands for and why it is important. GOPPAR Explained GOPPAR is an acronym for
What Is EBITDAR and Why Does it Matter for Hotel Profitability?
EBITDAR is a financial metric that stands for earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs. It is sometimes used by hospitality businesses to assess financial health. As a metric, EBITDAR is important because it helps to level the playing field when comparing businesses with different structures and rent costs. This allows financial assessments to focus on core operational performance. In this article, you can find out more about what EBITDAR is
What Is EBITDAR and Why Does it Matter for Hotel Profitability?
EBITDAR is a financial metric that stands for earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs. It is sometimes used by hospitality businesses to assess financial health. As a metric, EBITDAR is important because it helps to level the playing field when comparing businesses with different structures and rent costs. This allows financial assessments to focus on core operational performance. In this article, you can find out more about what EBITDAR is
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
Hotel KPIs explained: ADR, REVPAR and GOPPAR
Revenue management is a data-driven approach to predicting customer behavior, to optimize product pricing and availability to maximize revenue. It is especially useful in the hotel industry, because hotels have limited rooms available and experience varying demand levels. Several key performance indicators, or KPIs, should be tracked when carrying out a revenue management strategy. KPIs are quantifiable measures that allow a business to assess and compare performance over time. In this article, we look at
Maximize Your Venue Sales: 5 Proven Strategies for Success
In the highly competitive hospitality sector, venues must continually innovate to attract and retain clients. By adopting a strategic approach that caters to diverse client needs and streamlines operations, venues can enhance their market position and drive sales. This article delves into five effective strategies that incorporate industry insights, aiming
Can Metrics from Other Industries Bring Value to Hospitality?
Question for Our Revenue Management Expert Panel: Is there value to be had in introducing metrics from other industries into hospitality? Do you think they have a place in Hotel Revenue Management? (Question by Pablo Torres) Our Revenue Management Expert Panel Pablo Torres
By How Much Can Upselling Boost Your Hotel’s Revenue?
The importance of upselling within the hotel industry has increased over recent years. No wonder, because a good upselling strategy can significantly boost hotels revenue. But is upselling beneficial for every type of hotel? Is it worth for your hotel? In this article, you find a comparison of the upsell
Loyal Guests: Unlocking Revenue with Loyalty Programs and Ancillaries
Studies show that loyalty program members aren’t just frequent travelers; they’re also highly engaged customers who are willing to spend on additional services to enhance their experience. In this article, you'll learn how hotels can expand their loyalty programs and integrate ancillary products and services to maximize loyalty, boost revenue,
How will TripAdvisor Plus impact Hotel Revenue Management?
Question for Our Revenue Management Expert Panel: How will hotel revenue management be affected by the introduction of the new “TripAdvisor Plus” from TripAdvisor? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Patrick Wimble - Managing Director, Lightbulb Consulting Theresa
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 the total revenue generated from rooms and space available. As a result, it can play an important role in a revenue management strategy and provide