Business
Global Hospitality Study Exposes Critical 'Aspiration-Reality Gap' in Measuring Per-Guest Revenue Beyond the Room
-- Research from Agilysys reveals 82% of hospitality executives recognize the value of augmenting RevPAR metrics with Revenue Per Available Guest (RevPAG)
About this update from Agilysys, Inc.
[{"type":"text","content":"\n-- Research from Agilysys reveals 82% of hospitality executives recognize the value of augmenting RevPAR metrics with Revenue Per Available Guest (RevPAG) goals, but 56% feel unprepared to do so --\n\n SAN ANTONIO & ALPHARETTA, Ga.--(BUSINESS WIRE)--\nToday at the American Hotel and Lodging Association’s The Hospitality Show being held in San Antonio, Texas, Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of hospitality software solutions and services, released the findings of its 2024 Global Hospitality Impact Study: Unlocking Revenue Beyond the Room.\n\nThis comprehensive survey of 489 hospitality executives and technology decision-makers across North America, Europe and APAC unveils critical insights into the industry's readiness to embrace Revenue per Available Guest (RevPAG) strategies, while highlighting significant challenges holding back adoption.\n\nThe potential of adding RevPAG initiatives to traditional Revenue Per Available Room (RevPAR) measures is reflected in the current trend of travellers seeking personalized and unique experiences, with luxury properties already generating up to 40% of revenue from non-room sources. However, while 82% of hospitality executives are interested in proactively identifying and expanding revenue opportunities at the per-guest level, 56% believe they are unprepared technologically and operationally to do so.\n\n“Properties have a compelling opportunity to lean into growing traveller desires to receive personalized offers and enjoy unique experiences curated just for them. However, technology equipped to identify and serve up these opportunities – whether in advance or real-time during a guest’s stay – is not pervasive,” said Terrie O'Hanlon, Senior Vice President at Agilysys.\n\n“While there is overwhelming interest in capitalizing on RevPAG's potential to drive both revenue growth and guest loyalty, our research reveals a concerning readiness gap,” Ms. O’Hanlon continued. “Properties that fail to bridge this gap not only risk leaving substantial revenue on the table in a promising and expanding market, but also increase the probability they will fall behind new properties and others investing in technology, operating processes and cultural dynamics geared toward understanding revenue potential at the per-guest level,” she warned.\n\nKey findings include:\n\n\nCritical “As...