2015 cheers Online Hotel Room Reservation 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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PwC said that group bookings and continued growth in walk-up bookings are driving it’s 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 rise 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.
Why hotel APIs are a key part of online hotel booking systems today?
To access wide array of online inventory, online hotel booking system is integrated with one or more Hotel APIs. An API is a set of functions, procedures or methods used by computer programs to request services from the OS, software libraries or any other service providers running on the system. Nowadays, there are various Hotel API providers available in the market like Expedia Hotel API, GTA API, Hotelbeds API, Hotelspro API, Travco API, and many more.
PROVAB TECHNOSOFT is an award-winning travel technology company, delivering B2B / B2C travel software, travel CRM, accounting software, car rental software and mobility solutions to global travel & hospitality companies. We work with over forty top travel aggregators, global distribution systems, channel managers, and DMCs. With a clear focus on technology‚ agile methodology and innovation, we ensure quality deliverables and speedy turnaround to develop and deliver scalable travel portals and booking engines.
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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.
