As 2014 came to a close, it was an exciting year to be a part of RoomKeyPMS and the hospitality industry as a whole. President and COO of STR Amanda Hite is forecasting a record setting end to 2014 with average daily rate and revenue per available room both expected to end at the highest rates that STR has seen since its inception in 1987 and occupancy ending at 64.4%, an industry level not seen since 1996.
The STR predictions for 2015 are looking even brighter for the hospitality industry including:
- Occupancy to rise 1.1% to 65.1 percent
- ADR to increase 5.0 percent to US$121.37
- RevPAR to grow 6.2 percent to US$79.06
- Demand is expected to increase 2.4 percent
- Supply is predicted to increase 1.3 percent in 2015
As the hospitality industry is ended off year on a high note, so did RoomKeyPMS. 2014 was another memorable year (more…)
RoomKeyPMS would like to congratulate our partner Guestfolio in their recent win of World’s Leading Hotel CRM (Customer Relationship Management) Technology Provider 2014 by World Travel Awards.
Hailed as the “Oscars” of the travel industry, the World Travel Awards recognises companies, organisations and brands that push the boundaries of industry excellence. Guestfolio enables hoteliers to better engage with their guests from booking to well after check-out. (more…)
With 2014 coming to a close, it is a busy December for RoomKeyPMS. We had our busiest sales month in November so far this year (power of Mo??), which means in December for RoomKeyPMS has trainers all over North America doing installations.
It might be cold in Canada, but we our trainer Jimi currently in Alaska during an installation! Keep warm Jimi, and hope the gloves help.
David is in Amish Country Pennsylvania and somehow Rosamund lucked out with California and Bahamas.
With November coming to an end, and with that ends Movember Mo Bros. RoomKeyPMS Canadian Mustachio Nuts
Thanks to all the RoomKeyPMS MoBros who participated to grow a Mo and raise funds for a great cause. The RoomKeyPMS Canadian Mustachio Nuts Movember Mo Bros were able to raise over $700 for changing the face of men’s health. We had some impressive Mo’s around the office and some real good effort
Notice anything different in these two pictures!!
Sometimes it’s hard to get everyone in the same room together!!
RoomKeyPMS is excited to be included in Business in Vancouver 2014 Top 100 Fastest Growing Companies list. This is the first time that RoomKeyPMS has been on the list and we ranked in the top 50 at #49!
This Business in Vancouver list recognizes companies in BC with the greatest percentage change in revenue over the past five fiscal years. The list was compiled by the editorial research team at Business in Vancouver.
To celebrate this achievement, join RoomKeyPMS at the Top 100 Fastest Growing Reception on October 16th, 2014 at Telus World of Science. For more details and special promo code contact [email protected].
RoomKeyPMS and GuestDriven have announced today a partnership between the two companies, which will provide hotels with a powerful mobile guest engagement platform integrated with the industry’s leading property management software.
September 25, Vancouver, BC: RoomKeyPMS, the leading cloud-based property management software for the global hospitality industry, is pleased to announce a new partnership with GuestDriven, the groundbreaking hospitality mobile solution provider that enables hotel brands to personalize their customer experience through its Mobile Guest Engagement platform.
GuestDriven provides hotels with a client-facing mobile app and a hotel-facing marketing and communication dashboard, providing them with the ability to offer their guests a frictionless experience at every stage of travel — before, during, and after. Through the mobile engagement platform, GuestDriven gives hotels guest data that can be leveraged to create unforgettably personalized experiences and highly targeted marketing campaigns. (more…)
Part 1: The basic concept
There are three most popular indexes that are currently used in the Revenue Management science:
Occupancy: percentage of all rental units in the hotel that are occupied at a given time.
ADR (average daily rate): average rental income per occupied room in a given time period.
Sometimes a hotel’s productivity is evaluated based on one of those (more often – occupancy). Many hoteliers still view increasing occupancy as the operational target, disregarding all other aspects of Revenue Management. In reality, higher occupancy in many cases leads to lower profits, when the increased number of rental units doesn’t offset the loss in ADR (see article 3 myths about Occupancy). (more…)
When looking for a new PMS for any hospitality property can be an overwhelming task. Many questions need to be asked to ensure that you are getting all the features and functionality of your property needs will be covered by the new PMS.
We have developed an easy to follow infographic to feature the 5 Must Haves in a new PMS, or is it a GMS that you are looking for — ask RoomKeyPMS why GMS is the new PMS.
June 2014 is reported the best month of June this century by STR. The US hotel industry posted an impression gains in all three hotel key performance metrics for June 2014:
- Occupancy at an impressive 71.7%, the best June prior being in 2007 at 71.1%
- ADR was up 3.9% at $112
- RevPAR grew by 6.4% to $71
This increase for June 2014 is in line with the newly released Q2 STR report where the industry posted increases in:
- Occupancy showed steady growth of 3.6% to 68.1%
- ADR increased 4.4% to $115.46 USD
- RevPAR grew an amazing 8.2% to $78.59 USD
In our continuing Revenue Management series, RoomKeyPMS partner iRates explains why following your competitors’ price is not an ideal pricing strategy.
Another misconception that is still prevalent among hotels of all sizes and star ratings is that in order to be priced accurately, one needs to follow their competitors’ rates. Unfortunately, this point of view is also shared by large hotel management companies, hotel chains and even some Revenue Management companies. This is a habit that has been very heavily ingrained in the Hospitality industry, and breaking this norm is going to take a lot of reinforcement. (more…)