jeannette king
How to Make the 2024 Hotel Budgeting Process as Smooth and Painless as Possible
HotStats | November 6, 2023
By Jeannette King, Marketing Manager at HotStats For hotel owners and operators alike, the annual budget is often a grueling and time-consuming process. This year, with persistent inflation, added pressures on cost control, and uncertainty about the economy, the process is as fraught as ever. Are there ways to make the 2024 budgeting process more streamlined and efficient? For insights and advice, HotStats reached out to leading hospitality experts around the world. 1. Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year. This is especially true for large hotel groups with mult...
Market Spotlight on Canada
HotStats | September 8, 2023
By Jeannette King Recent data on the performance metrics of the Canadian hospitality market reveals a compelling story of resilience and recovery tinged with a note of warning on bottom-line conversion. Amidst global challenges, the industry has demonstrated its tenacity, with the Total Revenue Per Available Room (TRevPAR) metric taking center stage in this narrative. In a comparative analysis spanning from 2019 to 2023, the trends underscore the transient nature of the setbacks faced in 2022 and highlight the industry's subsequent rebound. Specifically, the TRevPAR metric, which provides a holistic view of a hotel's revenue-generating ...
