What Is an Average Daily Rate (ADR)?
Average daily rate (ADR) is a KPI commonly used for revenue management within the hotel industry. As a metric, ADR's primary value is its ability to reveal the average rental income connected to occupied rooms each day, which is valuable for revenue management. It can give hotel owners an idea of their current operating performance, especially compared to other hotels with similar characteristics. What Is ADR? A hotel's average daily rate (ADR) is the average
Hotel KPIs explained: ADR, REVPAR and GOPPAR
Revenue management is a data-driven approach to predicting customer behavior, to optimize product pricing and availability to maximize revenue. It is especially useful in the hotel industry, because hotels have limited rooms available and experience varying demand levels. Several key performance indicators, or KPIs, should be tracked when carrying out a revenue management strategy. KPIs are quantifiable measures that allow a business to assess and compare performance over time. In this article, we look at
5 SEO Tips for Hotels to Improve your Ranking in Google
What do you do when you want to find a hotel for your city break? Like many people, you probably start your search using a search engine like Google or Bing. According to Google, millions of hotel searches are carried out every day. People want to find information about facilities, rates, reviews, availability, and things to do in the area. Search engines deliver results pages, but not many people click past the first page. So,
5 Reasons You Can Benefit From a Freelancer Revenue Manager
Revenue management in the hotel industry involves optimizing the price and availability of rooms and services based on analytics that predict consumer behavior to maximize revenue. It can be an extremely effective discipline, but specialist knowledge is required to make the most of it. For this reason, many hotel managers opt to use the skills and services of freelance revenue managers, and here, we look at five reasons why your business may benefit from doing
5 Ways Big Data Can Benefit the Travel Industry
Within the travel industry, big data is one of the most important concepts to get to grips with, because most other businesses are already utilizing it and reaping the rewards. These rewards include the ability to make more informed decisions, learn about customers and competitors, improve the customer experience, and increase revenue. In this article, you will learn more about big data, and how it can benefit companies in the tourism industry. Table of Contents: Understanding Big Data 5 Ways Big Data Can Help Those in the Travel Industry 1. Revenue Management 2. Reputation Management 3. Strategic Marketing 4. Customer
How to Use Your (Guest) Data to Increase Revenue?
The recent years with a turbulent and unpredictable market have made hoteliers used to dramatic change. Guest booking behavior and previously established travel patterns have been replaced by new ones belonging to a hotelier's daily challenges. New travel trends and changing guest behavior are here to stay; they must act upon them. The Importance of Guest Data If you, as a hotelier, manage to monitor, predict, and act on these changes, you can leverage these
Should Hospitality Marketing be Managed In-House or Outsourced?
Question for Our Hotel Marketing Expert Panel Should hospitality marketing be managed in-house or outsourced to an external agency? With many hospitality brands operating with smaller teams, what marketing activities could be outsourced easily? Our Marketing Expert Panel Dustin Caromano - Director of Marketing and eCommerce, Première Advisory Group Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Max Starkov - Adjunct Professor Hospitality Technology, New York University
Guest segmentation: What It Is and How it Helps with Upselling
Understanding what your guests value when travelling is essential to successful upselling. But how can you ensure the right offer reaches the right person at the right time? Getting to know your guests and segmenting them is the key. In this article, you’ll learn how to segment your hotel guests
Emerging Trends for Hotel Website Design in 2022
Much like a hotel’s lobby serves as a strong first impression to its incoming guests, your website serves as an even stronger first impression to potential bookings. With major changes in Google’s search engine algorithm and the tourism industry’s rebound from the pandemic, designing a shiny, new, dynamic interface for
Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times
Name an area of life or work that the pandemic didn’t impact. It’s not easy to find one, is it? Especially in the hospitality industry, it feels like hardly anything is as it was before COVID. However, there’s one thing that has dramatically gained importance. It’s your ability as a