The use of benchmarking data is an indispensable tool to daily adjust revenue management strategy to reach the full potential of a hotel’s performance. An analysis based solely on internal data cannot deliver the same achievements.
CoStar Group to acquire STR
Transaction Enables CoStar to Provide Comprehensive and Precise Data and Analytics on the $3 Trillion Hotel Commercial Real Estate Asset Class – CoStar’s Management to Hold Conference Call at 9:00 a.m. EDT today to discuss.
Profit growth pegged back by escalating payroll costs at UK hotels
The study, Benchmarking Beyond RevPAR, which polled a consistent sample of nearly 45,000 hotel bedrooms across the UK over a 15-year period, revealed that payroll now comprises close to one third of a Regional hotel’s cost base.
Repeat guests have higher expectations
Report also shows social media has yet to take off in the hotel space and guest 55 years plus account for 51% of all reviews, up from 39% last quarter.
