hotel revenue
What Can Hoteliers Really Learn From TrevPAR?
Jason Q. Freed | May 16, 2023
By Jason Q. Freed Ancillary revenues are skyrocketing and total revenue figures can help hotels benchmark performance against their comp set, but operational decisions should be made by diving deeper. Because it provides a more holistic view of the revenue generated across an entire property, more hospitality leaders are turning to TrevPAR (Total Revenue Per Available Room) as a key measurement in their benchmarking and operational strategies. To calculate TrevPAR, hotels add all revenue generated from room sales, food and beverage sales, meeting room rental and spa services, and other sources of revenue, such as parking, resort fees...
Why Hotel Revenue Managers Know Not to Soley Rely On Gut Instinct When It Comes to Group Revenue Management
David Millili | May 4, 2023
By David Millilii, CEO of LodgIQ Amadeus reports that group and business travel segments are steadily recovering, with 4.3 million group room nights booked for H1 2023. The global business travel segment is expected to recover fully by 2024. According to the Global Business Travel Association (GBTA), group travel demand will likely increase in 2023, and the average spend per attendee for group events will increase in 2023. Group business means big business for hotels, accounting for a significant portion of hotel revenue. Some estimates suggest it can make up as much as 30-50% of a hotel's total revenue. This underscores the importance ...
AutoCamp Selects IDeaS G3 RMS to Increase Efficiency and Scalability Through the Power of Automation
IDeaS | April 12, 2023
Revenue management to streamline operations and position Autocamp for rapid growth MINNEAPOLIS—April. 12, 2023—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today that Santa Barbara-based outdoor boutique lodging company AutoCamp will use G3 Revenue Management System (RMS) across all properties in its two-brand portfolio, which includes AutoCamp and Field Station, to generate automated pricing decisions and provide actionable insights. Looking to remove tedious, manual steps from the revenue management process, AutoCamp turned to an automated RMS because it is...
How Hotel Salespeople at Parks Hospitality Group Use Video Email to Close More Deals and Build Stronger Connections
Doug Kennedy | April 11, 2023
By Doug Kennedy As frequent readers of my monthly training articles know, I have been a huge advocate of using a “tech for touch” approach for many years. In training articles, webcasts, and in my on-site hotel sales training workshops, I have provided suggestions for using video email apps to put the “people parts” back into hotel sales. Whereas most sales conversations these days happen in email and in-app message exchanges, personalized video emails allow salespeople to stand out. Sadly, although everyone gets excited about when I first share this concept, too many fail to incorporate it as a regular sales habit. Fortunately,...
Europe’s Key Hotel Markets Showed Improved Profitability in February
STR | April 6, 2023
LONDON—Europe’s key hotel markets reported month-over-month improvement in gross operating profit per available room (GOPPAR), according to STR’s February 2023 P&L data release. London’s February GOPPAR reached US$65.55, which was 83% of the pre-pandemic comparable. In January, the market reported GOPPAR at US$42.06, which was 65% of the 2019 level. Amsterdam followed with a GOPPAR of US$35.98, which was 74% of the 2019 comparable after reaching just 7% in January when using the same comparison. Berlin’s GOPPAR was 21% of the 2019 comparable, showing a significant month-over-month lift from negative levels in...
U.S. Hotel GOPPAR Highest Since October 2022
STR | April 5, 2023
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) exceeded the pre-pandemic comparable and was the highest since October 2022, according to STR‘s February 2023 P&L data release. EBITDA was the only key bottom-line metric on a per-available-room basis to come in lower than February 2019. GOPPAR: US$77.37 (+1.6%) TRevPAR: US$217.20 (+3.7%) EBITDA PAR: US$51.63 (-0.6%) LPAR (Labor Costs): US$73.70 (+2.9%) “The profit-and-loss metrics followed typical industry trends, improving from the prior month,” said Raquel Ortiz, STR’s director of financial performance. “Bo...
IDeaS Launches Automated Configuration Feature for G3 RMS
IDeaS | March 29, 2023
Innovation decreases time to value and ensures confidence in data configuration when implementing G3 RMS. MINNEAPOLIS—March 29, 2023—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today the launch of Automated Configuration for its G3 revenue management system (RMS), decreasing the initial configuration of G3 from weeks to as little as one day, depending on client needs and requirements. By leveraging data science, IDeaS delivers a feature to help its clients realize returns on their technology investment almost immediately. Clients will save time by reducing ...
Baird/STR Hotel Stock Index Fell 2.5% in February
Baird | March 20, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 2.5% in February to a level of 5,541. “Hotel stocks – just like the broader market – pulled back in February as the focus turned to earnings and initial 2023 outlooks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnin...
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