Down Market: Growth is Still Possible
By Kristi White Director of Revenue Optimization, TravelCLICK, Inc. | January 27, 2012
Recent statistics from the hospitality industry are grim. Occupancy declines range from a low of 9.8% in Europe to a high of 14.4% in Asia Pacific, average daily rate (ADR) declines range from 3.0% in the Middle East to 17.9% in Asia Pacific, and revenue per available room (RevPAR) declines range from 14.9% in the Middle East to 29.7% in Asia Pacific. What can your hotel do to buck this trend and recover-sooner rather than later?
Two opportunities are apparent for recovery:
look for business outside of your normal comfort zone, and
protect one of your most precious assets, ADR, to position your hotel to recover more rapidly when demand levels begin to rebound.
Your Comfort Zone