Quick Answer: How Do You Increase Occupancy Rate?

What is equivalent occupancy?

Equivalent Occupancy = (Current Occupancy Percentage) * ((Rack Rate – Marginal Cost) / (Rack Rate * ((1 – Discount Percentage)) – Marginal Cost) Equivalent Occupancy = (Current Occupancy Percentage) * ((Contribution Margin) / (New Contribution Margin)).

Why is RevPAR so important?

RevPAR is used to assess a hotel’s ability to fill its available rooms at an average rate. If a property’s RevPAR increases, that means the average room rate or occupancy rate is increasing. RevPAR is important because it helps hoteliers measure the overall success of their hotel.

How do hotels increase RevPAR?

Top techniques to increase your hotel RevPAR Primary Strategies: Apply yield management. Implement different pricing strategies….Secondary Strategies:Save your side expenses.Plan room rate as per Average length of stay (ALOS)Manage your online reviews.Increase digital marketing efforts.Run and promote loyalty programs.

What is bed occupancy rate?

The occupancy rate is calculated as the number of beds effectively occupied (bed-days) for curative care (HC. 1 in SHA classification) divided by the number of beds available for curative care multiplied by 365 days, with the ratio multiplied by 100.

Why is bed occupancy rate important?

Bed occupancy rate has remained as the most important parameter to evaluate the utilisation of hospitals. … The occupancy rate is calculated as the number of beds effectively occupied (bed-days) for curative care (HC.

How do you increase occupancy?

Ways to increase demand outside high season:Implement seasonal or progressive pricing. … Reward your loyal customers. … Introduce holiday packages. … Organize events. … Provide niche facilities. … Manage stay patterns. … Reach your ideal customer base. … Take your property from hidden gem to high demand.

How do you increase hotel occupancy?

Typically, hotels struggle with a low occupancy rate during the middle of the week (when few guests are traveling) and in the off season (whether summer or winter). Boost your occupancy rate through offering guests a customer rewards program, mid-week discounts, or offering to host local business clients and events.

What is a good occupancy rate?

While a 100 percent occupancy rate is desirable, hotel owners may have to lower rates in order to achieve it. Therefore, there could be instances where hotels can actually make more money from an 80 percent occupancy rate than from a 100 percent occupancy rate, if the 80 percent are paying higher prices.

How can I promote my hotel?

How to Promote a Hotel Online: 5 Effective IdeasGenerate bookings through a responsive hotel website. … Use a hotel SEO strategy to gain high visibility. … Entice hotel guests with content marketing. … Publicize hotel specials through targeted email promotions. … Use hotel PPC ads to fill last minute vacancies.

What is occupancy percentage?

Occupancy rate is the ratio of rented or used space to the total amount of available space. Analysts use occupancy rates when discussing senior housing, hospitals, bed-and-breakfasts, hotels, and rental units, among other categories.

How do I sell a hotel room to corporates?

How to Get Corporate Guests To Stay At Your Hotel or ApartmentsUpdate your website and branding to appeal to corporate guests as well as leisure guests.Make sure that the way that you take bookings, and the way that they can be checked, is “business friendly”Target whole companies at a time, and let their employees become your agents.

What is the STR strategy?

The Directorate of Strategy (STR) develops and disseminates Security Cooperation (SC) policy to the SC community and identifies trends, issues, and resource requirements to meet future challenges and lead transformation.

How do you calculate the occupancy rate?

Your property occupancy rate is one of the most important indicators of success. It is calculated by dividing the total number of rooms occupied by the total number of rooms available times 100.

What is average occupancy?

Calculated your occupancy rate by dividing the total number of rooms occupied by the total number of rooms available times 100, e.g. 75% occupancy.

What affects hotel occupancy?

Irrespective of who your target audience is, loyalty programs or online advocacy will drive more guests to your hotel, eventually increasing occupancy rates. Implement length of stay restrictions: Controlling your guest’s stay duration can have a huge impact on occupancy rates, especially during the lean season.