room rates
Reno, NV Least Expensive U.S. City for Hotel Stays, Cheaphotels.org Survey Shows
Cheaphotels.org | October 30, 2024
LAS VEGAS, Oct. 30, 2024-- Reno in Nevada is the most affordable city in the United States for hotel accommodation, according to the latest survey by Cheaphotels.org. The annual survey compared hotel rates across 100 U.S. destinations during October 2024 – 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. In Reno, visitors will have to spend an average of just $87 per night for the most affordable double room. Situated in the southern part of Washoe County, and set against the dramatic backdrop of the Sierra Nevada ...
São Paulo Hotel Room Rates Reached Record High in August
CoStar Group | September 16, 2024
WASHINGTON – 16 September 2024 – São Paulo posted its highest monthly average daily rate and second highest revenue per available room (RevPAR) on record, according to August preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. August 2024 (year-over-year % change): Occupancy: 67.8% (+3.2%) ADR: BRL717.98 (+20.6%) RevPAR: BRL486.92 (+24.5%) The first night of the Concrete Show (Tuesday, 6 August) drove highs across each of the three key performance metrics: occupancy (91.6%), ADR (BRL794.57) and RevPAR (BRL727.50). The secon...
Dynamic Pricing: Maximizing Revenue in the Hotel Industry
EHL | September 5, 2024
Dynamic pricing can be a contentious topic. Consumers often view it as an exploitative pricing strategy in which brands try to charge the highest possible price for their products or services. For example, in the fast-food industry, the introduction of dynamic pricing has gone down like a lead balloon. However, despite the backlash some brands have received, there are industries where dynamic pricing, while not necessarily welcomed, is generally accepted. The airline industry is one example, with airlines charging more for passenger tickets when demand for travel to a particular destination is high. Travel accommodation is another, with A...
Why Rate Parity Still Has To Be “The Law of the Land” in Hospitality?
HFTP | July 22, 2024
By Max Starkov, Hospitality & Online Travel Tech Consultant Just to clarify for the non-revenue management folks here, Rate Parity traditionally means maintaining the same publicly available rate for the same room/same stay across all public distribution channels i.e. channels available to any member of the public that is not a loyalty member or member of some guest appreciation or reward program. Rate Parity is not a new online policy specifically designed for the OTAs. It existed long before the “commercial internet" came into being and there was only one reason for its existence: it made revenue management and management of di...
Weekend Events Drove Dublin Hotel Rates Past €300
CoStar Group | July 3, 2024
Boosted by three large-scale events during the final weekend of June, Dublin hotel average daily rate (ADR) eclipsed EUR300 for just the second time this year and sixth time in history, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. Taylor Swift headlined the busy weekend in Dublin with three performances from Friday-Sunday (28-30 June) at the Aviva Stadium. Swift’s tour overlapped with Dublin Pride, which took place on Saturday as well as the All-Ireland GAA quarterfinals on Saturday and Sunday. The market’s ho...
Hotel Lawyer: New Federal Junk Fee Law – The No Hidden FEES Act of 2023 (HR 6543)
Mark S. Adams | June 14, 2024
By Jim Butler and the Global Hospitality Group® Note: If you are a consumer with a Junk Fee issue, please do NOT contact us! We do not represent consumers against hotels, restaurants, or other business owners. We are part of the fabric of the hospitality industry and are committed to informing, educating, and assisting the industry. We represent business owners, helping them to understand and comply with applicable laws and defending them from consumer charges. HR 6543: The US Congress wants in on Junk Fee regulation for hotels Over the past several weeks, we have written about recent major regulatory developments concerning Junk F...
It’s Still a Seller’s Market, But Don’t Get Greedy
Lynn Zwibak | May 2, 2024
By Lynn Zwibak In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. It was understandable that hoteliers would push rates - a hotel's goal is to maximize revenue and profit, and they had a lot of missed opportunities to make up for. People were so happy to be traveling again that they paid. Sources predict that hotels' pricing power will remain strong. However, we don't need a pandemic recovery to fall into the trap of overpricing. Why do we do this? Misjudg...
Paris Hotel Bookings Pacing Above 60% for Summer Olympic Period
Costar Group | April 16, 2024
WASHINGTON – 16 April 2024 – Paris hotel bookings for the 2024 Summer Olympics are pacing above 60%, according to CoStar’s latest Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. The 60% range for the event period (26 July – 11 August) is up from 50% three months ago. For context, the weeks leading up to the opening ceremony show occupancy on the books in just the 20% range. The current highest booking level (63.8%) in the host city is on Saturday, 27 July, the day of 14 gold medal events. Saturday, 3 August, the day of 28 gold medal event...
