The Smart Hotelier's Guide to 2014 Digital Marketing Budget Planning
Hoteliers, we have just passed the mid-year mark and it’s time to plan your digital marketing budgets for next year. Budgeting season is the ideal time toassessyour business objectives, as well as audit the performance of the initiatives you invested in this year.
2014 is expected to be another great year in hospitality. To start with the good news, travel demand is projected to be up by 3.3 percent while supply will be up only one percent (PKF). All three key performance metrics are expected to experience positive growth over the already robust growth in 2013. The U.S. hotel industry’s occupancy rate is estimated to grow by 2.2 percent, the average daily rate (ADR) by 5.4 percent, and revenue per available room (RevPAR) by 7.7 percent over 2013.
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