eZee Absolute

JUNE 5, 2023

Introduction In an industry as competitive and dynamic as hospitality, understanding the factors that drive profitability is crucial for the success of any hotel business. Improving your hotel’s bottom line starts with enhancing its profitability. But is it that easy to analyze the profitability of your property?

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Revenue Hub

FEBRUARY 27, 2024

Additionally, focusing only on those who are most likely to book can limit the overall reach and potential growth of your hotel. This ensures a balanced approach, converting interested prospects into customers, while also reaching out to new audiences who may not yet be familiar with your hotel.

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Hospitality Net

AUGUST 3, 2023

The concept of total profit optimization has grown in significance within the hospitality industry. Not just a focus on profit margins, this approach embraces all revenue-generating areas in a hotel, including ancillary outlets.

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Revenue Hub

APRIL 13, 2023

Move over RevPAR, there are finally new and better hotel performance metrics in town. Really everyone in the industry is moving toward profitability as a new measurement,” says Joseph Rael, senior director of financial performance at STR, one of the industry’s leading providers of market data on the hotel industry worldwide.

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Hotel Owner

JUNE 18, 2023

Key Performance Indicators (KPIs) are measurable values that provide insights into the effectiveness of a hotel’s strategies and initiatives. The importance of KPIs in the hotel industry cannot be overstated—they facilitate decision-making, inform strategic planning, and ultimately drive business growth.

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Revenue Hub

OCTOBER 6, 2023

But why is knowing this important, and how do you measure it? Subscribe to our weekly newsletter and stay up to date Why CAC Matters Your CAC affects your profits as well as your pricing and marketing strategies. The lower your CAC, the higher your profit. Set goals to shrink your CAC and grow profit.

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Hotel Owner

NOVEMBER 29, 2023

The hotel chain experienced a 16.7% rise in adjusted profits, reaching £201.2m. Travelodge plans to accelerate its hotel refit program, aiming to upgrade 50% of its room estate to a new design by the end of 2024. Travelodge has reported robust financial results for the nine months ending September 30th.

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Hotel Owner

FEBRUARY 29, 2024

The UK hotel sector saw a seasonal decline in demand and room rates during January, according to data from RSM. Hotel occupancy saw a bigger than usual decline due to an exceptionally strong December, falling from 70.9% (December) to 62.1% (January) in the UK and from 80% to 65.8% But the hotel sector faces some specific challenges.

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Budgeting 98

Hotelogix

NOVEMBER 13, 2023

The hospitality industry is well acquainted with the concept of hotel overbooking. Although it is a  common practice in hotel management, it has been a matter of debate particularly because of the complications it brings during peak hours. However, in cases of last-minute cancellations, your profit is badly impacted.

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Hotel Owner

NOVEMBER 13, 2023

turnover for H1, a 4% increase, despite a drop in operating profit from £9.9m The profit from disposals decreased from £1.3m Operating profit before disposals remained flat at £8.6m, but net debt rose from £61.1m The hotels and spas segment saw a 2% YoY sales increase and a 5% profit rise. in 2022 to £200k.

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Boutique Hotel News

JANUARY 10, 2023

The EEA is a non-profit coalition driving the decarbonisation of the hospitality industry. Measures being more widely adopted by the hospitality industry include designing out the excess energy demands of operating buildings and recovering heat from both plant equipment and wastewater for reuse elsewhere in building services.

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Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. It gives your team a clear direction and a measurable objective to work towards.

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Revenue Hub

NOVEMBER 16, 2023

Understanding your hotel’s financial performance involves thorough analysis of your balance sheet and what is often called your income statement – more commonly referred to as your P&L statement. Our Hotel P&L examples are designed to make the task a little less daunting.

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Maintenance Accounting Article Information 93

InnQuest

APRIL 4, 2023

In the hospitality industry, reducing operating costs in hotels using cloud PMS should always be a top priority. A cloud-based PMS is a software solution enabling hotels to manage their daily operations, all from a centralized system that can be accessed anywhere and anytime.

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Horizon Hospitality

DECEMBER 11, 2023

Whether you are trying to maintain a high level of service or turn around a poor bottom line, hotel employee training is crucial to running a successful property. Effective hotel staff training programs can increase profitability, help with talent acquisition, and improve employee engagement.

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Lodging Magazine

JUNE 12, 2023

BETHESDA, Maryland—MDO, in collaboration with Stayntouch and Revenue Analytics, has released “The Hotel Profit Playbook: Data-Driven Strategies to Move Beyond Rooms Revenue,” a report aimed at changing how hoteliers approach profit management.

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Revenue Hub

SEPTEMBER 20, 2023

Last night I was fortunate enough to be invited to a fantastic hotel party at Palm Jumeirah. Of course, not all hotels are experiential hotels. All hotels should think about this. Where do we find levers to drive Revenue and Profit? Measuring which customers spend time in which venues is critical.

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SiteMinder

OCTOBER 9, 2023

What are hotel metrics? Hotel metrics, often referred to as key performance indicators (KPIs), are essential data points that hoteliers use to measure the performance and success of their establishment. Table of contents What should be included in hotel metrics? With SiteMinder, you're always a step ahead.

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Revfine

JANUARY 2, 2024

KPIs for Hotels KPIs (Key Performance Indicators) in hotels are metrics used to measure and evaluate the success of various aspects of hotel operations. They The post The Most Used Revenue Management KPIs for Hotels appeared first on Revfine.com.

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Revenue Hub

JULY 17, 2023

Salespeople play a pivotal role in the dynamic world of the hotel industry. NB: This is an article from Demand Calendar They are the driving force behind room bookings, event sales, and the establishment of profitable relationships with corporate clients, travel agents, and tour operators.

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Revenue Hub

MARCH 14, 2024

Hoteliers should still be able to identify the original impetus of what brought the guest to a property even if it feels blurred at times, said Kristie Dickinson, managing director and executive vice president of hotel asset management and owner advisory services company CHMWarnick. ” Not every guest spends the same either.

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STAAH

APRIL 2, 2024

Effective revenue management provides hoteliers with a clear roadmap for pricing and optimisation, while acting as a gauge to measure success. What is a Revenue Management Solution for Hotels? What is a Revenue Management Solution for Hotels? Here are some reasons why a modern hotelier must include it in their hotel tech stack.

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Xotels

MAY 4, 2023

Is there anything more pressing on the minds of hoteliers, preventing them from having sleepless nights thinking about how to bring down their hotel`s cost and keep their business afloat? From our perspective as a hotel management company , we see both challenges as well as opportunities for hoteliers.

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Hospitality Net

AUGUST 27, 2023

Yield management allows hotels to manage the capacity of their rooms more profitably, and the accuracy of statistical forecasting determines how useful it will be. The mean absolute percentage error (MAPE), measures accuracy of a forecasting method. The error is measured as an absolute value.

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Revenue Hub

JANUARY 23, 2024

The hospitality industry, marked by its dynamic and ever-evolving nature, faces unique challenges in the realm of seasonal hotels. The Seasonal Hotel Landscape Seasonal hotels are uniquely defined by their reliance on specific times of the year, often tied to natural cycles, cultural events, or holiday periods.

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Revenue Hub

DECEMBER 14, 2023

Hotel owners and operators are best positioned for success when they measure their business from every angle. Further, Forward STAR completes the performance picture in tandem with top-line historical data, profitability and forecasting. Compare your hotels’ future occupancy and pickup against market or competitor sets.

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Revenue Hub

APRIL 17, 2023

NB: This is an article from Demand Calendar The main reason for forecasting is not competition in accuracy; it is to use the forecasts for planning to achieve a healthy profit. As the hotel owner focused on maximizing the return on investment (ROI), forecasting is critical in helping you achieve your goals in several ways.

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Revenue Hub

OCTOBER 16, 2023

When hotels started implementing revenue management, the business shifted from hospitality to asset management. NB: This is an article from Demand Calendar Revenue managers have no relationship with hotel guests other than how much they can charge them and how to optimize occupancy and average rate.

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Revenue Hub

AUGUST 24, 2023

Hoteliers and marketing executives in the hotel industry are faced with a multitude of challenges, including budgeting, marketing decisions, selecting appropriate distribution channels, and proper pricing. Subscribe to our weekly newsletter and stay up to date One solution is to optimize Marketing & Sales with data-driven measures.

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Hotel Owner

FEBRUARY 29, 2024

The South hotel market continues to thrive, buoyed by a resurgence of cash buyers in 2023 , with over 25 properties sold, totaling £51.1m. Notable deals include the Norfolk Royale Hotel, the Royal Hotel in Weymouth, and the Grand Atlantic Hotel.

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Revenue Hub

JANUARY 19, 2024

Examining this shift is crucial for hotels and resorts aiming not only to measure their total profitability accurately but also to enhance it by keeping guests on their properties and encouraging additional spending. It is calculated by dividing total room revenue by the number of available rooms over a given period.

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Revenue Hub

MAY 22, 2023

Many hoteliers only focus on what is in the hotel Profit & Loss statement. Managing costs in a hotel is the easiest job in the whole world. Once hoteliers have managed to balance costs in their hotels, the entire focus should be on the top line, where the hotel can potentially increase profits.

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Revenue Hub

DECEMBER 11, 2023

In the hotel revenue management field, a significant change is underway. A guest-centric approach is the only viable pathway to grow revenue and profits in a landscape where traditional revenue enhancement avenues have been fully explored and maximized. A hotel business always starts with the guest.

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Lodging Magazine

NOVEMBER 2, 2023

Between tight margins and high guest expectations, hotel food and beverage is a tough department to operate. LODGING Back of the House checked in with several F&B leaders to learn about top strategies for maximizing profitability, particularly amid heightened labor and supply costs.

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Luxury Hospitality Magazine

MAY 15, 2023

Rising operating costs, continued changes in demand, and escalating distribution fees mean that hotel operators are looking even closer at their bottom line than ever before. Revenue management is becoming more about profitability than room rates. Hotel professionals have been historically hyper-focused on revenue.

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Hotel Owner

APRIL 4, 2024

As a leading-edge hotel management, advisory, and development company, Vine Hotels specialises in delivering multi-layered management solutions for both branded and independent hotels and venues. Steering Back to Profit Assessment and analytics are the cornerstone of Vine Hotels’ accomplishments.

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Revenue Hub

OCTOBER 10, 2022

If you do not have all three of these metrics on your radar screen at the same time, you are flying the profit picture in your food operation with at least one eye closed. NB: This is an article from Hotel Financial Coach. Let’s explore these three different measurements and see what we find. That is all it tells you.

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