hotel metrics
Hotel Forecasting: Why It Is Important to Your Business
CoStar Group | October 4, 2024
Hotel forecasting plays a vital role in strategic decision-making, shaping both the short and long-term success of a property or portfolio. By understanding the key components and dynamics of accurate forecasting, hoteliers can implement more effective strategies, optimizing efficiency and maximizing profitability. This article is part of a series on hotel benchmarking data sets and use cases. Reach the other editions here: The hospitality industry’s historical KPIs | The role of profitability data in a comprehensive hotel benchmarking experience | Using business on the books in a complete benchmarking approach ...
Using Soft Metrics to Guide Hotel Operations
Larry and Adam Mogelonsky | April 27, 2022
By Larry and Adam Mogelonsky There are some classic metrics that hotels use to benchmark performance – namely, RevPAR and ADR. If you’ve been reading our column, you’ll know that we are in favor of developing thoroughly connected tech stacks that will allow hotels to measure TRevPAR – total revenue per guest – in order to guide business intelligence and make better decisions about which customers to target. But with more granular operational data tied in, hotels can perhaps measure even more. These might be called ‘soft data’ or ‘soft metrics’ in years past, but now our industry’s systems are becoming advanced enough...
STR: Canada Hotel Results for Week Ending 24 October
STR | October 30, 2020
HENDERSONVILLE, Tennessee—STR data for 18-24 October 2020 showed slightly higher occupancy, but lower rates from prior weeks for Canada’s hotel industry. 18-24 October 2020 (percentage change from comparable week in 2019): Occupancy: 31.1% (-55.6%) Average daily rate (ADR): CAD112.33 (-28.7%) Revenue per available room (RevPAR): CAD34.89 (-68.4%) Occupancy for previous weeks came in at 29.9% (17 October), 32.2% (10 October), and 34.0% (3 October), respectively. For the week ending with 24 October, British Columbia recorded the highest occupancy level (40.2%) among the provinces. Vancouver (35.7%) was the only ...
STR: Colombia’s Daily Hotel Occupancy Sinks to 3.9%
STR | April 14, 2020
BOGOTÁ—As the COVID-19 pandemic in Colombia has worsened, the country’s daily hotel occupancy decreased to as low as 3.9% on 29 March, according to preliminary data from STR. “Daily occupancy in the country was as high as 77.8% on 19 February, but a sharp downward trend began as the number of confirmed COVID-19 cases grew and the government declared a state of emergency on 17 March,” said Patricia Boo, STR’s area director for Latin America. “The numbers are truly astonishing as STR’s most recent data for the country showed that just four of 100 rooms on average were occupied.” At the market-level, significant downwa...
