What is the meaning / definition of REVPAM in the hospitality industry?
REVPAM stands for: Revenue Per Available Square Meter
It is a KPI relevant for hotels which rent out its space for conferences and banquets. The utilization efficiency of the sales department is calculated on the revenue per available square meter of the banquet space.
How do you calculate REVPAM?
- REVPAM Formula: Revenue / Available square meter of banquet space (m2)