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.
Is it Realistic to Focus on Profitability over Revenue?
Question for Our Revenue Management Expert Panel: Is it realistic to focus on profitability over revenue? How should revenue management teams manage stakeholder expectations? Where might challenges arise? (Question by Diego Fernandez Perez De Ponga) Our Revenue Management Expert Panel Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Massimiliano Terzulli - Revenue
8 Tips to Improve OTA Conversion Rates
In the highly competitive world of online hospitality, mastering the art of OTA listings is not just an advantage—it's a necessity. With most travelers making their accommodation decisions based on OTA rankings and reviews, understanding how to climb these ranks and convert interest into bookings is the key to success. Your OTA listing can distinguish between a filled room and one that remains empty. 8 Essential Tips to Help You Improve OTA Conversion Rates But
Short-Term Rental Data: A New Technique to Forecast Demand at Your Hotel
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 intersection between the hotel and short-term rental sectors, with consumers weighing up both alternatives based
Best Luxury Travel Bags for Men
Alright, look - travel squeezes your life into strange little pockets. One minute you're gliding out of a car at Terminal 4 feeling like you've finally gotten ahead of your life, and the next minute you're sweating through a last-minute gate change and pretending your bag isn't low-key sabotaging you. A bag sets the tone. A good one calms you down, keeps your gear where it belongs, and gives you that "okay, I'm not falling apart today" energy that honestly feels priceless at 6:30 AM in an airport. So let's talk through this the real way, not the polished blog
Maximizing Revenue for Extended Stay Accommodations: Challenges and Opportunities
Extended stay accommodations and serviced apartments represent a small but fast-growing portion of the European hospitality sector, with the market projected to grow (1) at CAGR of 12.3% from 2024 to 2030. The segment’s relatively rapid growth should come as no surprise as more travelers are booking trips that blend both work and play, major hotspots crack down on short-term rentals like AirBnb, and their relatively lean operating models fuel an influx of investment and
Hotel Industry Challenges: A Guide for Hoteliers
Hotel industry challenges are best conceptualized as a product of a dynamic economic landscape. These include financial, market, and logistical elements inherent to the modern world. Examples range from staff retention to adaptation of new technological innovations. To succeed in the hospitality industry is to face these challenges with a full understanding of their complexities and possible methods of resolution. In this article you'll learn about the most significant challenges and how to overcome them.
Wheelchair Accessible Hotels: Real Examples of Accessible Hotels
Wheelchair accessible hotels are hotels designed to accommodate the needs of guests who require wheelchairs. This includes making sure the building and rooms can be accessed, but also providing special features inside the hotel. Providing wheelchair accessibility is important for the guest experience and for ensuring your property is suitable
Maintenance in the Hospitality Industry: Best Practices and Tips
Maintenance in the hospitality industry involves the upkeep of facilities, technology, equipment and other important assets. This can include everything from plumbing systems to elevators and televisions. The importance of maintenance is impossible to overstate because it is necessary to keep things running smoothly. If issues occur and things stop
How Has Artificial Intelligence Impacted Revenue Management Roles and Systems So Far?
Question for Our Revenue Management Expert Panel: Some roles are shrinking due to Artificial Intelligence. How have revenue management roles and systems been affected to date? (Question by Oleksii Kapichin) Our Revenue Management Expert Panel Niko Krauseneck - Founder, RevenueRebel Tamie Matthews