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RevPAR: A Vital Hotel KPI And Strategies To Improve It

Altexsoft

Revenue Per Available Room, or RevPAR, has emerged as a crucial key performance indicator (KPI) for assessing a hotel’s financial well-being and prosperity. This significant metric enables hotel owners to evaluate their property’s performance by considering both occupancy rates and average daily rates (ADR).

Hotels 59
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New Applied ML Prototypes Now Available in Cloudera Machine Learning

Cloudera

We are very excited to announce the release of five, yes FIVE new AMPs, now available in Cloudera Machine Learning (CML). In addition to the UI interface, Cloudera Machine Learning exposes a REST API that can be used to programmatically perform operations related to Projects, Jobs, Models, and Applications.

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Hotel Price Prediction: Hands-On Experience of ADR Forecasting

Altexsoft

Hotel price prediction is a critical aspect of the travel industry, and with the rise of machine learning , it has become more precise and accurate. The key objective behind this task is to set the best booking prices to entice customers and ensure that hotels take full advantage of their business potential.

Hotels 52
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Revenue Management Systems for Hotels: Products and Features

Altexsoft

With the right RMS in place, hotels and vacation rentals can optimize room pricing, enhance occupancy rates, and boost overall revenue. What is a revenue management system for hotels? Learn more about hotel revenue management in our video. Revenue management software for hotels is generally flexible.

Hotels 52
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Hotel Rate Shopping: Using Rate Intelligence for Revenue Management

Altexsoft

But does it mean that hotels must get used to living in the OTAs’ shadow and be content with monstrous fees and rate parity rules? Let’s talk about the many opportunities that rate shopping might bring for a hotel. Dynamic pricing engines can be based on rules or on machine learning. Not exactly. Demand forecasting.

Hotels 59
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Average Daily Rate: The Role of ADR in Hospitality Revenue Management and Strategies to Improve This KPI

Altexsoft

The Average Daily Rate (ADR) — one of the leading hotel KPIs for gauging performance and profit — has gained considerable importance, and for a reason. We also investigate predicting ADR through machine learning and strategies to enhance this KPI. Example 1: Small boutique hotel. What is ADR?

KPI 52
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Occupancy Rate Prediction: Building an ML Module to Analyze One of the Main Hospitality KPIs

Altexsoft

The occupancy rate is a key indicator of the historical, current, and looking-forward performance of a hotel or vacation rental business. Stakeholders — from property owners to managers to housekeeping staff — use this metric to make informed decisions and increase revenue per room or property. After all, it’s not 100 percent.

Hotels 52