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How Cognitive Biases Impact Hotel Revenue Management

Revenue Hub

In revenue management, managers might focus on data that confirms their existing beliefs about pricing strategies or market trends, ignoring contradictory evidence. Regular Training Regular training on cognitive biases and their impact can help managers recognize and reduce these biases in their decision-making processes.

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14 Restaurant Management Tools to Make your Business More Efficient

7 Shifts

You’ll get detailed daily reports on price changes and even price forecasting. You can then use this information to adjust your menu, make purchasing decisions, or change your pricing. Employee experience Restaurant management software digitizes tasks like clocking in and out, tip pooling, and training.

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The True Cost of Convenience

EATER

But we found that the hard part was convincing consumers to actually accept higher prices on delivery. I couldn’t convince consumers back in 2011 to make the switch to a more equitable model for food delivery, and needed to transition my entire business to corporate catering just to survive. Anucha Naisuntorn /Shutterstock.

Pricing 145
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360° Approach to Guest Personalization and Revenue Generation

Revenue Hub

While travel is surging to pre-pandemic levels, a persistent labor shortage continues to drive up labor costs as employees demand higher wages, increased benefits, and more training and work-life balance. Back in 2011, for example, PhocusWright pointed out that the hotel industry earned only 1.7%

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An Eater’s Guide to T?hoku, Japan’s Capital of Sake, Wagyu, and Sea Pineapples

EATER

Norikazu/Shutterstock A few hours from Tokyo by bullet train, the rugged northern region features Miyazaki-worthy landscapes, a coastline chock full of seafood, and some of the country’s most stunning cherry blossoms In Japan’s internationally beloved food scene, urban hubs tend to steal all of the attention. Edo miso meal at Kura Cafe.

Training 105
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MRM Franchise Feed: Bad Ass Gets Bigger and New Prototype for Bagel Boss

Modern Restaurant Management

After moving to Maquoketa in 2011, Radtke began creating special moments for Happy Joe’s guests as a server a year later. From Left to Right: Jerrod Mitchell Randy Bates Ron Bellamy Jim Taylor Jessica Reicher Jeff Baranco Ricky Price Kristy Brave Matt Strange Kim Nguyen April Rogers Bo Davis Tim Mei Charley Harman.

Marketing 180
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Empowered leaders: Female forces in hospitality and real estate

Boutique Hotel News

Until its closure in December 2019, she was a trustee of the Cornwall Food Foundation, the charity which owned the social enterprise restaurant, Jamie Oliver’s Fifteen, and delivered the training programme, as well as being a non-executive director of the restaurant.