Here is your weekly industry news round-up. Check out the short snippets here and follow below for more details.
- Know what is RevPAR, its calculation and why it is essential for revenue management. Read in the first news below.
- Experts highlighted some key transformations during the World Economic Forum (WEF). Amid shifting demand dynamics and future opportunities and risks, a more inclusive, sustainable and resilient travel and tourism sector can be – and needs to be – built.
- Know 5 Consumer Trends That Hotel Marketing Cannot Ignore.
- The biggest need in today’s marketplace is efficiency. In terms of handling today’s revenue strategy, the elements remain the same. But the impact of those decisions, how we think about them, and the actions we need to take to address each element is completely different from any time in the past.
- Return of International Travel Boosts Hotel Demand in US Gateway Cities. hotels in New York, San Diego, Seattle and Boston each reported occupancy rates of more than 84% — among the highest in the country.
- Assessing high-end travellers’ sentiment regarding purposeful travel, Virtuoso’s 2021 sustainability survey found that 78% believed it’s important to choose travel companies that have a strong sustainability policy.
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Enjoy the read!
What Is Hotel RevPAR & Why Should It Be on Your Focus List
RevPAR and ADR are both useful KPIs that help hospitality establishments measure their performance and profit. Hospitality industry is now focusing more on RevPAR to boost the hotel revenue. Know more in this article about RevPAR, its calculation and why it is essential for revenue management – https://lnkd.in/dMudvrtf
What next for travel and tourism?
As the world recovers from the impacts of the COVID-19 pandemic, travel and tourism can bounce back as an inclusive, sustainable, and resilient sector.
https://www.weforum.org/agenda/2022/06/what-next-for-travel-and-tourism-industry-experts-explain/
Consumer trends that hotel marketing cannot ignore
According to Daniel Levine, director of the Avant-Guide Institute, consumer changes can be boiled down to five phenomena occurring not just in hospitality but across society.
Hotel revenue strategy: What’s changed in the past two years?
In terms of handling today’s revenue strategy, the elements remain the same. But the actions we need to take to address each element are completely different from any time in the past.
https://www.hotelsmag.com/news/certainty-in-an-uncertain-world-managing-revenue-strategy/
International travel boosts hotel demand in US gateway cities
New York City, San Francisco and Miami are among the U.S. cities experiencing the steepest increases in hotel room demand, as international travelers begin to return to the U.S.
Affluent travelers willing to pay more for sustainable experiences
A recent Virtuoso survey highlights how some of the world’s most discerning travelers view sustainable tourism.
https://www.hospitalitynet.org/news/4111188.html