demand

With the ebb and flow of pricing, rate changes must be frequent, and a hotel must regularly adjust pricing based on demand, forecasts, and competition

Although it is impossible to predict the future with 100% accuracy, a hotel can and should work on scenarios based on available market data

Nominal RevPAR remained well ahead of 2019 in nearly all the 166 U.S. markets for the week and in the past 28 days

Despite a variety of industry and economic headwinds during Q2, people still found a way to travel, and in many cases, went further afield

The outcome of your forecasting should always be the ability to react to market changes, optimise occupancy, and maximise revenue

Luxury hotels may be leading rate recovery, but pricing has reached pre-pandemic levels extremely rapidly, with all six classes reporting ADR highs

Make forward-looking demand signals, such as monitoring of booking behavior part of the data set that informs your pricing decisions

Adopting these techniques to convert existing demand and create demand from new sources, you’ll put your hotel in a position to outperform your competitors

The challenge with this approach to measuring demand is that these benchmarking services only measure converted demand for hotels