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
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
Disruption is everywhere and it’s forcing traditional businesses to reinvent themselves. Take Uber, for example, it’s forever altered how people travel around town, forcing traditional limousine and taxi companies to adapt, while peer to peer room rental sites are inexorably changing how customers think of the lodging experience, and how hoteliers think about their room...Continue Reading
In a previous post, we focused on the intertwined connection between pricing rooms and forecasting rate thresholds. How they’ve become linked in our new digitally driven era. It’s an important realization needing to be made before it becomes possible to fully capitalize on revenue optimization opportunity. In this post, we’re discussing how to leverage this influential...Continue Reading
In this smart hotel pricing series, we interview Fabian Bartnick, vice president of Asia-Pacific for LodgIQ. We know this for sure, he is passionate about pricing and brings new perspective to old revenue management concepts. In this podcast Fabian discusses the dual impact of evolving consumers and advancements in travel technologies, and how revenue managers can...Continue Reading
