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Low Development Costs, High ADRs and Incredible Valuations

September 21, 2024

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Low Development Costs, High ADRs and Incredible Valuations

Written by: Jay Bhakta Glamping has taken the hospitality industry by storm over the last few years with developments occurring overnight. These remote-style stays became especially popular over the course of the Covid pandemic, as they offered the distanced retreats and vacation getaways that many craved after lockdowns. Due to the lack of physical structures required, development is rapid and far less costly. However, with the unique service proposition provided, glamping properties are able to charge high ADRs. And, as these properties are valued based on the income approach, their valuations are derived from their cash flow — resulting in…

As Occupancy Stalls, Parking Drives Hotel Revenue Growth

July 17, 2023

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As Occupancy Stalls, Parking Drives Hotel Revenue Growth

By Robert Mandelbaum and Todd Casper Based on the February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average US hotel returned to pre-COVID levels in 2022. This occurred despite the fact that the average occupancy for US hotels is not expected to exceed 2019 levels until 2026. With occupancy levels lagging during the post-COVID recovery and guest counts depressed, hotel owners and operators have had to look for alternative sources of revenue beyond the rental of guest rooms to make up for the income deficits. For some hotels in the US, parking has become…

How Hotel Pricing is Going to Change in the Age of AI

July 12, 2023

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How Hotel Pricing is Going to Change in the Age of AI

Imagine a world where your hotel knows what a guest wants even before they do. A world where your pricing strategy is not just about numbers, but about understanding choices, dreams, and the urge to travel. A world where your revenue management and marketing teams work hand in hand to craft personalized offers that guests can’t resist. Sounds utopian right? Well, with Artificial Intelligence (AI), this dream is becoming a reality. Over the last few months, we have seen ChatGPT, Bard and other travel-technology companies use Large Language models to fundamentally alter the way travelers looked for inspiration, searched for…

Tech-driven Profitability in Post-COVID Hotel Industry

June 18, 2023

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Tech-driven Profitability in Post-COVID Hotel Industry

In this insightful discussion, Bharath Satyavolu, Group AVP at Centara Hotels & Resorts, highlights the profound impact of COVID-19 on the hotel industry. Satyavolu emphasizes that past data has become obsolete and stresses the need to focus on forward-looking data and demand. He emphasized that hotels must invest in technological changes to enable swift reactions and secure market share in the evolving post-COVID landscape. The discussion underscores the crucial role of adapting to new technologies for hotels to ensure profitability and remain competitive. Watch the video here: Read the complete transcript here: One of the things that COVID has fundamentally…

How Rate Gain is Helping Millennium Hotels & Resorts

May 22, 2023

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How Rate Gain is Helping Millennium Hotels & Resorts

May 22, 2023 Customer Testimonials Talking about the decade-long RateGain partnership with Millennium Hotels & Resorts, Saurabh Prakash [Group SVP (Commercial), Millennium Hotels & Resorts] highlights how the partnership has grown stronger over time. He talks about how RateGain’s 24×7 support has helped them overcome high demand periods in London and other challenges in the past. Saurabh emphasized the importance of support, and how this has led to building Millennium’s confidence in the partnership. Watch the video here: Read the complete transcript here: I think, if I’m not mistaken, I sort of took the custodian of the partnership when I…

May 19, 2023

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Earth Day 2023: How Indian hotels are contributing towards sustainability

As per the UNWTO/ITF report released in December 2019 at UNFCCC COP25, CO2 emissions from tourism is slated to increase by 25% by 2030. The hospitality industry is responsible for around 1% of global greenhouse gas emissions, and energy consumption by hotels is expected to grow by 19% over the next decade as per the report.With the manifold increase in traveling and tourism post COVID-19, there has been an increase in the pressure on resources and the environment too. In such a scenario the hospitality industry needs to follow the sustainability path all the more. The need of the hourThe…

Tips for Revenue Managers to Cope With Hotel Rate Parity Issues

May 15, 2023

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Tips for Revenue Managers to Cope With Hotel Rate Parity Issues

While rate parity ensures that you have complete control of setting the bar for your room rates and ensures equal prices across all distribution channels, but it destroys your chances to compete freely in the market and also makes you lose a voluminous amount of potential revenue as massive commissions to the OTAs. The hospitality industry has had a mixed reaction against rate parity with OTAs and hotels having a different take on it. Countries including the USA, France, Italy, and Germany have already started employing measures to either restrict rate parity to specific scenarios, or completely do away with…

Changing Markets Post-Pandemic: Guest Behaviors Changing Booking Inspiration

May 11, 2023

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Changing Markets Post-Pandemic: Guest Behaviors Changing Booking Inspiration

As the pandemic gradually creeps out, travel is making a strong comeback. But this comeback brought about monumental changes in guest behavior and booking inspiration. Post pandemic, hoteliers were simply playing catch up to meet the ever-evolving demands of the ‘changed’ customer. But what ‘changed’? How has the general traveler behavior and booking mentality changed since the world came out of its quarantined walls? The change is quite significant, and cannot be brushed off without a proper breakdown. The following article sheds light on the changes brought around by the pandemic, and how hoteliers all around the world have had…