2015 cheers Online Hotel Booking Systems with Higher Rates & Highest Occupancy

2015 is around the corner and online hotel booking systems (associated companies) are working war front to capitalize on year-end booking and a very prospective 2015.The year 2015 is predicted to be bright from the viewpoint of online hotel booking system. The hotel all around the world is preparing to enter the race.PwC said on 10th Nov that hotel occupancy rates are expected to hit a 30-year high next year, with all indicators stronger than they have been in a decade. With the beginning of 2015, there would be a huge number added to the list of national and international travelers. The travel industry is well prepared with more occupancy, which is accompanied by an increased rate. Implementation of travel technology in the form of online hotel booking would help in maintaining the inventory and displaying the same on the online search engines. Some of the major changes expected in 2015 have been mentioned below.

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Online Hotel Booking System Development

PwC said that group bookings and continued growth in walk-up bookings are driving its 2015 projections. The firm projects a 64.9 industry-wide occupancy rate, up from a projected ending for 2014 at 64.2 percent. Demand overall is expected to raise 4.2 percent for 2014, compared with a supply growth of just 0.9 percent.

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Supply growth is expected to grow to 1.4 percent in 2015. Growth was up 40 percent in the third quarter year-over-year, according to PwC. The firm said that lower-priced hotel chains should see the biggest benefit as high-end chains get a bit more aggressive in raising prices next year.

Revenue per available room (RevPAR) is expected to increase 8.2 percent this year, the highest jump since 2005. RevPAR is expected to jump 7.4 percent in 2015.

Hotel Booking Software

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Occupancy rates have been on a steady rise since bottoming out in 2009 at 54.6 percent. This is also expected to be the sixth straight year of daily rate and RevPAR increases since an 8.6 ADR drop and 16.6 percent RevPAR drop in 2009.

2015 is going to be equally exciting for global hotel consolidators as they are expected to book the highest room nights ever.

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PROVAB TECHNOSOFT (http://www.provab.com) is an award-winning online booking engine development company, delivering best in class Hotel CRS, Hotel Extranet and Online Hotel Booking Systems to global clients.