HotStats Limited · 4 Nov
Tracking the evolution of key performance indicators (KPIs) over time allows hoteliers to identify meaningful trends, create forecasts and budgets and assess the results of different strategies. To perform this kind of analysis, data has to be recorded within consistent time intervals and in chronological order. This is known as a time series.
HotStats Limited · 10 Oct
Revenue per available room, or RevPAR, has historically been the most widely used metric for benchmarking performance in the hospitality industry. Its success as a key performance indicator or KPI is the result of its efficiency and simplicity. RevPAR is efficient because it combines the results of both occupancy and average rate into one number. And it's simple, because all you need to calculate it is occupancy and average rate:
HotStats Limited · 27 Sep
Online travel agencies are digging their fingers further into the hotel industry. One of the latest disrupting features comes from Booking Holdings-owned Agoda and its Mix and Save option, which it hails as a win for budget-conscious travelers. It could also be a loss for hotel operators.
HotStats Limited · 15 Aug
Financial performance in the hospitality industry is traditionally measured in absolute terms: actuals for the relevant KPIs are compared against their budgeted numbers and, from this assessment, action plans are developed to correct course when needed. Moreover, in the presence of changes in market conditions, budgets are revised to make goals reflect the new business environment.
HotStats Limited · 30 Jul
There are myriad acronyms in the glossary of hospitality financial analysis, but two in particular haunt hotel managers like a specter: ADR (average daily rate) and RevPAR (revenue per available room).
HotStats Limited · 19 Jul
Nothing irks people more than paying for something they don't need or use. I once paid $50 for a pair of pants I never ended up wearing—but that's on me. I'm to blame. It's another thing altogether when you are forced to pay for a pair of pants that you didn't want in the first place.
HotStats Limited · 7 Jun
In a previous blog post, I took aim at RevPAR. My pursuit: to puncture the long-held notion that it's the most exemplary data point to consult within the hospitality industry. And, according to one comment, I succeeded in doing so (thank you, Don Weintraub, you made my mother very proud).
HotStats Limited · 23 May
Ever since Fred Harvey opened his first "eating house-hotel" establishment along the Atchison, Topeka and Santa Fe Railway (AT&SF) tracks in Kansas in 1878, food and beverage has become an integral part of the hospitality business in the U.S. Harvey's invention was a more formalized approach to what was served to guests of the grand hotels and smaller inns that dotted the landscape from Europe to Asia throughout eras before.