Should We be Concerned About ADR?
-Projections for 2017 and beyond by STR, CBRE and PKF all call for anemic occupancy growth at best, notwithstanding record occupancy levels for the U.S. hospitality industry. With Revenue Per Available Room (RevPAR) growth projections at inflationary levels (2.5 – 3.5 percent, or so), it is clear that expectations call for Average Daily Rate (ADR) growth to continue, but will…
Evolving expectations for revenue managers
-There is no one right way to be a revenue management practitioner, and the trick is to find what approach fits best. Attracting and retaining top revenue management talent can be a challenge these days. Owners and general managers often ask me what appears on the surface to be a very straightforward question: “What makes for a good revenue management…
Emerging Pricing Trends in Hospitality
-Pricing for any type of product or service, let alone lodging, is nothing new. Any “Marketing 101” textbook will tell you that Price along with Product, Place and Promotion make up the “4-P’s of the marketing mix.” Pricing too has been in place far longer than the practice of Revenue Management, which, among many other things, incorporates pricing into its…
