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
A Steady Hand: How Revenue Management Solutions Can Help Hoteliers Navigate Economic Uncertainty
It’s a foreboding statement that surely hoteliers are getting at least a little tired of seeing, particularly with the economic shock of COVID-19 firmly in our rear-view mirrors. While it’ll take time for the dust to settle, an aggressive and often-shifting trade policy from the world’s largest economy has undoubtedly injected a substantial amount of uncertainty into the plans of hotels across the globe. 5 Revenue Management Tech-Driven Tips for Taming Uncertainty Before you start stocking up on antacids, let’s focus on the good news. Hotels that have invested in advanced revenue management technologies have an excellent resource at their
Smart Hotel Room; What Are the Benefits for Hotel Owners and Guests
Smart room technology is a key trend for hotel owners to be aware of, and the desire to create a smart hotel is growing for a number of reasons. In this article, you will learn more about a smart room, why smart hotel technology is so important, and how smart hotel rooms can benefit hotel owners and guests alike. Table of Contents: What is a Smart Hotel Room? Why is Smart Room Technology Becoming Important?
5 Ways For Hotels to Minimize Booking Engine Drop-Off
Your hotel's website might be buzzing with traffic due to all the hard work and resources you're putting into attracting visitors. But is your website as efficient as you wish it was? Imagine a potential guest, excited and ready to book, but something doesn't click, and they leave without completing the reservation. That's booking engine abandonment– a frustrating scenario where your rooms remain unsold, and your investment in traffic generation doesn't quite hit the mark.
Hotel Owners: Understanding the Role of a Hotel Owner
Hotel owners have an important role, as they are ultimately responsible for the business and ensuring the right employees are working in the right areas. In this article, you will learn about the role of a hotel owner, find out about hotel management companies, and explore different hotel management structures.
Night Auditor Duties & Responsibilities in Hotel: Everything to Know
Night Auditor duties and responsibilities in hotels involve helping guests during the night hours and balancing the day's accounts. Guests arriving at night may be checked in by the night auditor, who will also take reservations and see any requests that might arise. The night auditor's duties involve processing the
5-Star Hotel: Overview and Features of Five-Star Hotels
A 5-star hotel is an establishment tailored to very discerning guests. To obtain a five-star designation, a hotel must offer lavish accommodations and many different amenities -- gyms, spas, gourmet restaurants, and more. Five-star hotels also provide a very high standard of service, personalized to each guest's specific needs. In