How much of the increased RevPAR in the last 10 years is due to the OTA effect? And what effect has that had on hotel profits, that left to our own devices, would not have materialized without the OTAs?
IBC Hospitality Technologies unveils complete hospitality system RES360
The complete hospitality management system from IBC Hospitality Technologies features a customizable dashboard connecting all information critical to making business decisions.
STR: Record-breaking Q1 for London hotels
During the first three months of 2017, the hotel industry in London, England, posted its highest revenue per available room (RevPAR) for any first quarter on record, according to data from STR. The market’s absolute RevPAR level of GBP101.50 was an 11.3 per cent increase compared with Q1 2016.
STR: Europe hotels see strong performance increases in Q1 2017
Concluding with strong growth in March, the European hotel industry reported increases in each of the three key performance metrics during the first quarter of 2017, according to the latest data from STR. Compared toÊthe first quarter 2016, occupancy in Europe increased by 4.1 per cent to 63.5 per cent.
Seeking solutions to increase hotel profitability
How has the hotel industry been faring in terms of revenue and profit management in recent years and what should hoteliers be doing to tackle the challenges theyÕre facing, either from online travel agencies (OTAs) or rising wage and insurance costs?
The one service hotels must outsource during periods of high demand
For hoteliers, planning the right resources to satisfy guest demand is a fine art at any time of yearÑespecially when unpredictable events and seasonal demands create dramatic shifts in inquiries and bookings. It is a balancing act aimed at capturing as many sales as possible while avoiding a resource drain and high costs associated with additional staffing.
Selecting the solution starts by asking the right questions
Most hoteliers view revenue management as a strategic imperative, given the opportunity to improve the financial performance. That said, it is important to note that revenue management can take many different forms, some of which are far more sophisticated Ñ and effective Ñ than others.
Insights from ITB Ð How hotels can maximise their revenue performance for the next fair
To maximise the revenue performance during a fair or high impact event might be easier said than done. Many rely on returning business to bring in a safe level of base occupancy to a slightly higher rate and surely their ADR and RevPAR will increase accordingly a couple of euro. But is that enough?
The illusory performance test
In the negotiation of management agreements, owners take comfort from the performance test that in the most optimistic light will allow the hotel owner to terminate a management company that does not meet the standards of the performance test.ÊBut letÕs look more deeply into the proposition that the performance protects the owner from the under-achieving management company.
The flagging Manhattan hotel market may have turned a corner
The tide may be finally beginning to turn for Manhattan hotel investors, thanks to a dip in the supply pipeline. Hersha Hospitality Trust, an owner of 12 New York City hotels, posted 1.2 percent growth in RevPAR.
