European destinations have paved the way for an encouraging summer season with a third of reporting destinations enjoying double-digit expansion to date. Europe remains the leading destination worldwide despite increased competition and current forecast for 2018 suggests a moderate expansion trending around 3-4%.
Effective and efficient inventory distribution plays a major role in the overall revenue management strategy for hotels. A well-thought-out inventory management strategy helps revenue managers to sell the right room via the right channel to the right customer at the right time to maximize revenue.
U.S. hotel occupancy declined 3.1% year over year to 63.5% during the week of 1-7 July, and despite a 1.1% ADR increase to $123.59, RevPAR dropped 2% to $78.47.
Hotels in Canada reported occupancy dropped 1.7% to 72% during the week of 1-7 July, but a 3.1% ADR increase to 177.98 Canadian dollars ($135.22) lifted RevPAR up 1.4% to CA$128.13 ($97.35).
Maestro Multi-Property Centralizes Cross-Selling, Integrates Activity & Spa Management, Event Sales, Owner Relations and Guest Service for Award-Winning Destination
IHG (InterContinental Hotels Group) has opened Hotel Indigo Dundee, in one of Europe's rising design destinations – Dundee, Scotland. Once famous for its textiles, the city's industrial spaces are now filled with artists and collectives, including a thriving gaming community who have helped turn Dundee into the creative heart of the world's computer games industry.
In June year-over-year data, Munich hotels showed a 13.6% increase in demand, which outpaced supply growth (+5.2%), resulting in a 7.9% boost in occupancy and increases of 8.6% in ADR and 17.2% in RevPAR.
In June year-over-year data, Jeddah hotels reported demand (+12.3%) that outpaced supply growth (+8.7%), which resulted in increases of 3.2% in occupancy, 16.1% in ADR and 19.9% in revenue per available room.
Booking Holdings' Global Metasearch Brand KAYAK to Oversee HotelsCombined
Hotel Will Be Located Inside $260 Million Phase Two of Ballpark Village