2014 turned out to be a very exciting year for hotels in Europe.
In year-end 2014, Europe witnessed a total demand of 1.1 million rooms sold, one of the highest in a decade.
Occupancy grew by 2.1% to 68.8%
ADR grew by 3.6% to EUR106.09
RevPAR grew by 5.8% to EUR73.03
2015 is also projected to be a very exciting year. A weaker Euro, lower oil prices and the European Central Bank’s recent fiscal measures all point to a sunny 2015. The European commission has also raised the EU’s 2015 growth forecasts to 1.7%
How do you make the most out of these opportunities and maximize your hotel’s revenues in 2015?
ITB Berlin is here again
From the 4th to the 6th of March, the RateGain team will be at ITB Berlin 2015 (Hall 8.1, Stall 115) to talk to revenue managers about how they can take the next step towards revenue optimization.
ITB Berlin is one of the world’s leading travel trade shows hosting 10,000 exhibitors from 180 nations. The event is visited by over 20,000 visitors and has a turnover of EUR6 billion.
The variety of exhibitors present an excellent opportunity to stay in touch with the current trends in the travel business.
If you are a hotel revenue manager, a general manager or a hotel owner, we would love to host you at our booth to have a conversation with you about how you can make more revenue everyday.
These are 3 things we will discuss at the event…
1. Transient pricing in a world of information
It’s a mobile world.
The rapid growth of mobile adoption has transformed access to information. Customers now have access to prices and other details of nearly any hotel in the world literally in their palms. With a few clicks people can browse, shortlist, find out all they want about a hotel and make a booking within a matter of minutes.
Changing guest preferences and easy availability of choices and information is leading to increased competition. Reviews and ratings are growing in importance as a determinant of price.
That ‘edge’ you thought you had over your competitor might just have disappeared.
How should your transient pricing strategy adapt in this rapidly evolving environment?
2. How do you manage pricing and distribution in an era of last minute bookings?
An increasing number of bookings are being done very close to the check-in date , also driven by the rapid growth in mobile usage. (During H1 2014, 21% of all hotel bookings were made through mobile devices.)
Last minute bookings throw up quite a few challenges. Not only does this lead to more frequent price changes, it also makes it difficult to manage your inventory in the last minute.
How do you adjust your prices quickly as well as distribute them to your channels with speed and precision?
3. How do you deploy an integrated revenue management suite?
How can you respond quickly in this era of multiple drivers and fact changing prices?
You can try doing it manually by working a lot harder – round the clock.
Or you could deploy an automated system, which does it all for you – automatically, with a minimal amount of manual intervention.
Imagine how simple that could be!
At RateGain, we are working on a unified platform which does it all for you. A single suite which integrates price shopping, price determination, channel management and your PMS. We are calling this suite ‘Unity’.