average room rate
Occupancy vs ADR, the Never Ending Discussion in Revenue Management
Patrick Landman | June 6, 2024
By Patrick Landman Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. ‘How can I make more profit with my hotel?’ Owners that are closely watching the P&L statement are especially keen to understand how they can drive the bottom line of their hospitality business. Which is it? So what is it, Occupancy or Average Room Rate (ARR)? The answer is of course both! As t...
European Hotel Values See Modest Rise in 2023 but Fail to Reach Pre-Pandemic Levels, Reveals Latest HVS Valuation Index
HVS | March 11, 2024
11 March 2024, London: Hotel values across Europe remained steady in 2023 buoyed by the consolidation of the post-pandemic recovery and a steady desire to travel keeping average room rates strong, according to the annual European Hotel Valuation Index (HVI) published this week by global hotel consultancy HVS. These influences combined to offset the impact of a number of geopolitical challenges including the war in Ukraine, the war between Israel and Hamas and the shaky Chinese economy as well as increasing operating costs and high interest rates. The result was a modest uplift in hotel values of around 1% across Europe keeping them...
Cleveland Among Priciest Cities in the U.S. for Hotel Stays
Cheap Hotels | October 6, 2023
COLUMBUS, Ohio, Oct. 6, 2023 -- Cleveland is the 4th most expensive city in the United States for hotel accommodation, according to a new survey by Cheaphotels.org. The survey compared hotel rates across 50 US destinations during October 2023 – the month when hotel prices in most American cities tend to be at their highest. Only centrally-located hotels with a 3-star rating or more were considered for the survey. With an average rate of $303 for the most affordable double room, Boston emerged as the most expensive city in the country. Completing the podium are New York City and Austin, with rates of $288 and $257,...
