Category: Hotels Food
What is Hotel Occupancy Rate and How to Calculate it?
Occupancy rate refers to the percentage of available units in a building or facility that is currently occupied by tenants or users. It is commonly used in the real estate industry to measure the level of demand for a particular property or market. A high occupancy rate is generally considered to be a positive sign for property owners, as it indicates strong demand for their units and the potential for higher rental income. Conversely, a low occupancy rate may indicate that a property is not as attractive to tenants or that there is excess supply in the market. What is…
RateGain’s Board of Director Megha Chopra elected as Co-Chair for CII’s Indian Women Network Delhi Chapter
New Delhi, 7th March 2023: RateGain Travel Technologies Limiteda global provider of SaaS solutions for the hospitality and travel industry, today announced that Mrs. Megha Chopra – Executive Director, RateGain – has been elected Co-Chair for the Delhi Chapter of CII’s Indian Women Network (IWN) for the years 2023-24. The Indian Women Network (IWN) was launched in 2013 by the Confederation of Indian Industry (CII) with the vision of becoming the largest network for working women, and to provide them with a structured network to meet like-minded women to discuss and overcome challenges that they might be facing at the…
Bhanu Chopra Recognized As ‘Founder Of The Year’ At Entrepreneur India’s Startup 2023 Awards
Noida, March 14th, 2023: RateGain Travel Technologies Limited, a global provider of SaaS solutions for the hospitality and travel industry, announced today that its Founder and Managing Director, Bhanu Chopra, has been recognized as ‘Founder of the Year‘ at the recently concluded Startup Awards powered by Entrepreneur India. In its fourth year now, the Startup Awards have been recognizing the best talent in the startup world since 2018 and have seen leading startups compete for recognition every year, where winners are decided by an eminent and diverse jury. Today India is the world’s third-largest startup ecosystem, with more than 84,012…
International Travel Tips Ahead of HITEC Toronto 2023
Last year, hospitality professionals from 46 countries across the globe traveled to Orlando, Florida USA for HITEC North America. Will your HITEC journey be transnational in 2023? Here are some valuable travel tips to help non-Canadian attendees prepare for the upcoming trip to HITEC Toronto, taking place June 26-29 at the Metro Toronto Convention Centre. You can also visit cbsa.gc.ca and cic.gc.ca for more information on traveling to Canada. ENSURE YOU HAVE THE REQUIRED DOCUMENTS IN ADVANCE. Make sure you have all proper, up-to-date travel documents to enter Canada as a visitor. According to the Government of Canada, international visitors…
CBRE Forecasts Enhanced RevPAR Growth in 2023 Despite Economic Headwinds
Written by: Rachael Rothman and Matt Mowell Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons® forecast calls for a 5.8 percent increase in rooms revenue per available room (RevPAR) in 2023. This is up from CBRE’s previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE’s increased outlook for RevPAR is an expected 4.2 percent rise in average daily rate (ADR), driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the US to increase by 3.5 percent YoY.…
The Fall of the Traditional Dining Experience?
Written by: Ricardo Tellez The hospitality and, more specifically, the food and beverage (F&B) industry are two that live by the motto: “if it ain’t broke, don’t fix it.” Unlike almost every other industry, the F&B industry prefers to stick to tradition; despite the incredible leaps in technology made in the past decades, many restaurants have stuck to using pen and paper. However, in recent years there have been glimpses of a shift in this mentality. Instead of uniformity and conformity, people have begun to seek new and unique experiences. Additionally, with the rise of social media platforms, celebrity chefs…