There’s one constant every business person understands; the law of supply and demand. In the hotel business, it’s the fundamental underpinning of how rooms are priced on any given night. But there is a catch, what the typical hotelier sees as demand is not an accurate bellwether of actual demand. It’s what we perceive demand...Continue Reading
Finding relevance in big data is a concern on the minds of many hoteliers. What should you act on? How do you, as a hotelier, determine what data has the biggest impact on pricing? In this series, we discuss how evolving buying behavior impacts the amount of data points to be considered and how each data point...Continue Reading
How to use RevPAR to Maximize Your Property’s Revenue While your occupancy and/or your average daily rate (ADR) both give you good insights into your property’s financial performance, they aren’t sufficient to give you a holistic view. Even when used together and compared against your comp set. That’s where RevPAR, or revenue per available room,...Continue Reading
There’s one metric every general manager (GM) wants to grow and maintain year over year — their average daily rate, or ADR. Your ADR is the average revenue earned from each room sold, per night. It’s one of the key metrics hotels use to measure the performance of their operation in comparison to their direct...Continue Reading
Sometimes, the hotel industry gets caught up speaking a language only experts appear to understand. Ever try talking to a person who is not in the hotel industry using industry buzzwords? For example: “Our hotel is experiencing a boost that’s helping us drive ADR to new highs, which is having an incredible effect on RevPAR.” For...Continue Reading
Individual hotel success is increasingly becoming a game of the haves and have nots. We recently attended the annual Hunter Hotel Conference to get our springtime check-in on industry numbers, and it’s become clear 2017 is about individual market dynamics. Yes, STR is predicting the U.S. hotel business to see ADR increases of 2.8{97f5de9008dbce478b9914384118bb17bc275beb18053f10d4c63e347dc71139} this...Continue Reading
LodgIQ was recently named as one of 17 top travel startups for 2017 by Skift (Repost of the original article with permission from Skift). This list is Skift’s first attempt at spotlighting the most impressive new or little-known travel startups worldwide. (It’s also our first shot at trolling Silicon Valley.) We are drawing on the...Continue Reading
We were in Berlin recently for IHIF, the premier annual European hospitality financial conference. The event, a gathering place for 2,000 hospitality leaders, is where top executives meet each year to share ideas and make deals that will affect the global hotel industry for the next year. This year, one of the major conversations focused...Continue Reading
Deciphering the perfect revenue optimization formula is an ever more challenging feat. Shifting reservation channels and morphing consumer booking patterns continually conspire to make the right revenue mix a moving target. Additionally, customers no longer have static needs. They have different priorities per trip – meaning during each excursion, they’re more apt to be seduced...Continue Reading
Written by Glenn Haussman for LodgIQ. In London last week, the Business Travel Show became the focal point of the travel buyer community. The event featured more than 2,000 attendees, each of whom are charged with travel purchasing decisions for the road warriors within their respective companies. As LodgIQ is a company dedicated to helping...Continue Reading
