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. Revenue management is essential because it clearly shows current performance and how much a hotel can charge for its rooms. Hotels should aim to increase
Tips to Take Advantage of Changing Booking Behavior Before Your Competition
While the Omicron variant slowed market recovery in 2021, STR's data reveals a strong positive trend for the hospitality industry for 2022 and beyond. In this article, you'll learn how to stay ahead of the competition by understanding the three data pillars of a forward-looking revenue strategy. Global Occupancy Increased It shows that the net propensity to travel has increased to 32% in February 2022 for domestic and international trips. This is a big leap
Hotel Owners: Understanding the Role of a Hotel Owner
Hotel owners have an important role, as they are ultimately responsible for the business and ensuring the right employees are working in the right areas. In this article, you will learn about the role of a hotel owner, find out about hotel management companies, and explore different hotel management structures. Table of Contents: What is the Hotel Industry? The Role of Hotel Owners Hotel Owners and Hospitality Management Companies Different Hotel Management Structures Franchised Hotel
HospitalityJobs: Guidelines to Find The Best Hospitality Jobs or Staff
HospitalityJobs is a job board and employment portal for those involved in the hospitality industry and those looking to break into the industry for the first time. In this article, you can learn more about the platform and access some useful insights that will help you get the most from
Hosco: Discover How to Find Hospitality Jobs or Staff for Your Business
One of the most popular job platforms for hospitality employers and candidates is Hosco, based in Switzerland. The service covers the entire hospitality industry, including hotels, restaurants, bars, cafes, and more. Here, you can read tips for finding a job or hiring new staff using the website. Table of Contents:
Space Hotel: How to Book a Hotel in Space?
Space tourism is already a reality, and we could soon live in a world where regular commercial space travel exists too. Alongside this, one of the most intriguing possibilities is that you may have the chance to stay overnight in a space hotel. In this article, we take a look