hotel sales
Q4 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | February 7, 2024
At the dawn of 2024, a U.S. presidential election looms amidst numerous geopolitical challenges including two major ongoing wars in Europe and the Middle East which threaten global economic growth. The good news is, thus far it appears the U.S. economy has avoided recession with many now perceiving continued growth, albeit subdued. Inflation has cooled, the economy continues to add jobs, interest rates appear to have peaked and are anticipated to gradually decline for the next two years. Furthermore, a roaring stock market continues to fuel American consumer expenditures resulting in strong demand for travel including lodging. Despite a re...
Lodging Interactive’s CoMMingle360 Transforms Hotel Social Media Into Powerful Wedding Sales Opportunities
Lodging Interactive | January 17, 2024
CoMMingle360 enables hotels to be everywhere their prospects are and to engage and sell to them through an omnichannel approach. Lodging Interactive, an award-winning digital marketing, reputation management, and social media engagement agency exclusively serving the hospitality industry since 2001, announced today the next phase of its CoMMingle360 omnichannel marketing service for the hospitality industry. Commingle360 enables hotels to generate group event revenue opportunities and direct bookings through their social media channels 24/7. “CoMMingle360 enables hotels to be everywhere their prospects are and to engage with them thro...
Smart Strategies, Big Wins: Transforming Group Sales With Data Insights
Mike Pavicich | January 9, 2024
By Mike Pavicich Data analytics can play a crucial role in identifying potential group sales opportunities for hotels. By analyzing large volumes of data, such as customer preferences, booking patterns, competitors, and market trends, hotels can gain valuable insights into the demand for group bookings. In fact, hotels that use data analytics strategies have seen a 20% increase in group sales and reduced their group sales acquisition costs by 25%. Platforms like SalesAndCatering.com’s STS Cloud, with robust reporting and business intelligence capabilities, are transforming not just the way hotels interpret group sales performance bu...
When the Pendulum Stops Swinging
H. Keith Thompson | November 10, 2023
By H. Keith Thompson I have been a hotel broker for 33 years and during all past cycles, the markets would simply swing from being either a seller’s market or a buyer’s market and then after a correction, swings back again. Using a swinging pendulum as a metaphor for the hotel real estate market today, the pendulum has almost stopped swinging. In my history as a hotel broker, the only time the pendulum almost stopped swinging was just after 911 and this new interest rate cycle we all find ourselves in today. In 2023, new transactions in the hotel space are down 50-70 percent depending on the brand and the market. Today it is neither...
Nashville Hits 31.5 Percent Meeting and Event Growth in October, According to Knowland
Knowland | November 8, 2023
October event volume increased 12.8 percent compared with last year ARLINGTON, Va. — Nov. 8, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Nashville experienced strong growth for meetings and events since last year at 31.5 percent. Las Vegas came in second with 20.3 percent year-over-year growth. Overall, U.S. industry growth of meetings and events increased by 12.8 percent. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base. Nashville was the hot spot for conventio...
Crowne Plaza Dubai Marina Selects Knowland to Strategically Reallocate Market Share
Knowland | October 11, 2023
Luxury hotel relies on Knowland’s unique data-driven insights and analytics to qualify opportunities and optimize sales team productivity ARLINGTON, Va. — Oct. 11, 2023 — Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced the Crowne Plaza Dubai Marina Hotel selected the Knowland platform to gain access to insights into untapped industries and potential accounts, expand opportunities within the luxury hotel sector and empower sales teams to reallocate market share strategically. Located in the cosmopolitan Dubai Marina area, the IHG property provides 273 ro...
Nashville and Los Angeles Lead in Year-Over-Year Percent Growth for September
KNOWLAND | October 5, 2023
September event volume increased 21.7 percent compared with last year ARLINGTON, Va. — Oct. 5, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Nashville has seen the highest percent growth at 30.7 percent, with Los Angeles coming in at 22.3 percent over 2022. For the top five performing markets, National Associations took the lead, with Healthcare, Education, and Weddings leading as top industry growth drivers. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base. Nashvill...
Knowland Account Alerts Feature Uses Push Intelligence to Provide Hotels With a Competitive Advantage in Account-Based Sales
KNOWLAND | September 27, 2023
Enhanced functionality delivers at-a-glance actionable data directly to sales team inboxes ARLINGTON, Va. — Sept. 27, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced Account Alerts, an enhancement to its core platform. The delivery of automated email alerts once a day helps sales teams save time, stay informed, and react early to revenue opportunities. Consolidated email notifications will be pushed to the user anytime recent account activity matches the individual filters set by the user. Today’s analytics platforms focus heavily on pull intellige...
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