Hotel bookings may be seeing a dip, but that doesn’t mean rate is suffering because of it. In fact, many hoteliers are finding pricing power despite facing some challenges, whether they be political or natural (disaster) in nature.
Here are three pieces of recent research that hotel owners and operators should keep top of mind as they move throughout the year and plan their revenue-management strategies.
Rate Growth Holds Steady Despite Booking Declines
Average daily rate is up 2.7 percent across all travel segments during the first quarter of 2019, according to TravelClick’s March 2019 North American Hospitality Review. That growth was led by group travel, which was up 3.8 percent. Transient business was up 2.1 percent, while transient leisure travel rose 2.2 percent.
Read more at Hotel Management.