Hospitality Magazine

APRIL 10, 2024

As agave prices in Mexico continue to fall and demand for premium-and-above tequila moderates in the United States, alcohol market analysts IWSR says brand owners have an opportunity to improve product quality at lower price points.

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Pricing Marketing 130

Modern Restaurant Management

JANUARY 31, 2022

In December 2021, average check was up 22 percent compared to the same period in 2019 and sales were up eight percent, according to Revenue Management Solutions, which released sales, traffic and average check trends for QSR restaurants in December 2021. Bureau of Labor Statistics, prices at limited-service restaurants increased by 7.10

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Pricing 189

Hospitality Magazine

APRIL 7, 2025

Timothy Hardy and Laura Ducken opened Van Bone in 2021 to much acclaim. The three-course offering is priced at $75 and covers an entre, choice of main, and a dessert. The rural town held the Bream Creek Show since 1886 which sees many events take place, including the coveted Giant Pumpkin competition.

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Front of House Communication Catering Presentation 200

EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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Pricing Accounting Communication Marketing 137

Modern Restaurant Management

OCTOBER 24, 2022

year over year, with reviews mentioning inflation up by 22 percent compared to Q3 2021. Yelp found that food businesses are seeing one of the largest increases of inflationary experiences compared to Q3 2021, followed by restaurants. In response, consumer searches for budget-friendly dining and grocery options are higher than Q3 2021.

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Budgeting Pricing Magazine Marketing 182

Hotel Owner

OCTOBER 12, 2022

UKHospitality chief executive Kate Nicholls has welcomed the Government’s new Energy Prices Bill adding that it will provide “relief to all manner of hospitality businesses”. The publication of wholesale energy prices will also provide much-needed clarity for businesses.

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Pricing 104

Revenue Hub

OCTOBER 3, 2023

ZHAW School of Management and Law, based in Winterthur, Switzerland, conducted a study of 37 hotels that implemented dynamic pricing in 2021 and 2022, evaluating the effectiveness and impact of the RoomPriceGenie revenue management system. What are the internal effects on competencies after starting with dynamic pricing?

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Pricing Guest Satisfaction Article Marketing 109

Modern Restaurant Management

JULY 6, 2022

While 2021 was the year of the comeback for restaurants, 2022 is proving to be a very different story. Restaurant traffic, while recovering and up nine percent in 2021 compared to 2020, is still 4 percent below pre-pandemic levels, with smaller chains and independent restaurants down by nine percent, according to a study by The NPD Group.

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Pricing Marketing 197

Revenue Hub

JANUARY 17, 2024

Surging ADR: Noteworthy Escalation in Average Daily Room Rates Average daily rate per room values, known as ADR, experienced a greater global growth in the last 3 years than in the last two decades prior to COVID-19 pandemic, resulting in the highest hotel prices since records began (Figure 1). Evolution of hotel room price from 2002 to 2023.

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Pricing Travel and Tourism Article Presentation 109

Hospitality Magazine

FEBRUARY 26, 2025

After a sell-out debut back in 2021, natural wine and food festival Naturellement returns this May. Masterclass tickets are priced at $20. Local farmers, producers, and foragers will also take the stage to discuss topics such as sustainability, future trends, and regenerative farming with hosts Matilda Brown and Scott Gooding.

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Events Presentation Pricing Magazine 130

Modern Restaurant Management

SEPTEMBER 13, 2022

However, in June, the category started a downward trend, similar to declines in lunch and dinner that started as far back as Q3 2021. percent) from August 2021, compared to declines in traffic at lunch (-5.5 The average QSR price is at its highest since 2020 (+16.3 percent) and dinner (-3.9 percent), but basket size is down -5.3

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Pricing Information Marketing 206

Revenue Hub

FEBRUARY 9, 2023

After air travel was significantly reduced in 2020 and 2021, demand for air travel roared in 2022 as borders opened and travelers gained confidence. The price must be right When it comes to booking air travel, it’s all about price, with atypical, low pricing being the top thing consumers value.

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Pricing Budgeting Book Article 98

SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Pricing Marketing Book Information 105

Hospitality Magazine

JULY 12, 2023

The pub, which had an asking price of $7.5 million, was sold in September 2021, with Peninsula Hospitality committing to renovate the two-storey venue and roll out a new food and beverage offering. Historic Sydney pub The Dry Dock will reopen late this year under new owners Peninsula Hospitality, run by Mike Everett and James Ingram.

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Pricing Magazine 246

Modern Restaurant Management

OCTOBER 20, 2021

Nearly three-fourths of respondents reported using the channel at least 1x weekly, a slight decline from May 2021. Takeout and delivery also have remained constant since May 2021 — 66 percent used takeout at least one time weekly, and 52 percent used delivery. Why Takeout Still Reigns (And How Operators Should Price).

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Pricing 215

Hospitality Magazine

JULY 16, 2024

Rising invoice payment defaults have also continued to rise since mid-2021. Monetary policy settings teamed with rising prices of essentials have all had negative effects on Australian small business. The average values of invoices held by businesses has also fallen 49.9

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Pricing Magazine 237

7 Shifts

SEPTEMBER 7, 2021

Has the price of going to a restaurant increased? To answer this question, we compared 2019 vs 2021 restaurant receipts. We found a 14% increase in the total price on a receipt. Either diners have switched to ordering the more expensive items off the menu, or we're seeing very strong inflation of prices on menus.

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Pricing Scheduling Information 148

Modern Restaurant Management

SEPTEMBER 14, 2021

Across the country, prices for food are reaching all-time highs as inflation picks up and COVID-19 restrictions loosen, driving more consumers to resume dining, shopping and traveling. percent in July 2021, its largest monthly increase since February 1981, according to data from the U.S. Overall, year-over-year consumer prices rose 5.4

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Pricing POS Systems Scheduling Presentation 188

Modern Restaurant Management

AUGUST 22, 2022

Consumers continue to be hit hard by inflation as we see prices skyrocket for a variety of goods. These high prices are certainly taking a toll on consumer spending, which will eventually change their restaurant dining habits. percent compared to the same period in 2021, but simultaneously showing that the dine-in channel saw a 2.4-percent

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Accounting Bookkeeping Pricing Marketing 197

STAAH

APRIL 11, 2023

The integration brings two of the hospitality industry’s key service providers closer together and has simplified access to vital pricing intelligence, for joint customers. OTA Insight’s team of international experts supports more than 60,000 properties in 185 countries.

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Pricing Marketing Property Management Information 98

Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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POS Systems Reservations Pricing Download 194

Modern Restaurant Management

JULY 21, 2022

percent compared to Q2 2021, according to the Revenue Management Solutions (RMS) Q2 Industry Trends Report. Come June, the Labor Department's Consumer Price Index saw that annual rate climb even further to 9.1 Consumers see a drop in gas prices , bringing them back to drive-thrus. QSR net sales for the quarter are up 1.4

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Pricing Definition 178

Boutique Hotel News

JANUARY 4, 2023

The startup, valued most recently at $9 billion, submitted fresh financial documents in September, 12 months after the company first filed to go public in 2021 with a Draft Red Herring Prospectus [DRHP] for a $1.1 billion IPO. Last year, OYO received regulatory approval to submit additional documents in order to go public.

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Document Pricing Marketing 239

Modern Restaurant Management

JANUARY 12, 2022

The pandemic has permanently altered the consumer-restaurant relationship with operators investing in technology and real estate to align with changing consumer preferences, according to the 2021 Restaurant Franchise Pulse survey, conducted by TD Bank. Christmas Day delivers second-highest day for check value across 2021.

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Server Pricing Marketing Sanitation 215

Modern Restaurant Management

APRIL 27, 2020

OpenTable added new features and price cuts for 2020 as they recognize the road to recovery will be long and difficult. These advanced features are now paired with discounted pricing to reduce the reopening costs of our customers and to encourage new restaurants to join OpenTable. First is an enhanced restaurant management platform.

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Document Sanitation Download Pricing 231

Hospitality Magazine

AUGUST 21, 2024

Hills Collide will continue to produce its own products, including wine, vermouth and gin, ensuring good quality at affordable prices. The event will celebrate Gruner Veltliner from both Australian and Austrian producers.

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Special Events Events Presentation Pricing 245

Hotel Business

APRIL 11, 2025

The transaction price represents an 8.6x These transaction price metrics are exclusive of an estimated $80 million of near-term capital expenditures. . Xenia Hotels & Resorts Inc. has sold the 545-room Fairmont Dallas for $111 million, or approximately $203,670 per key. 28, respectively.

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Pricing Marketing 59

Modern Restaurant Management

JUNE 7, 2022

With gas prices over $4 a gallon, a drop in drive-thru traffic is not surprising, and our historical data shows a positive correlation. Gen Z respondents reported a decrease in full-service visits, too, from 33 percent in Q4 2021 to 15 percent in Q1 2022. But the drop in Gen Z's frequency is notable.

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Budgeting Pricing 208

Modern Restaurant Management

MARCH 21, 2022

Even after the pandemic-fueled tumult of 2020, few would have predicted the extent to which the industry has been shaped in 2021 by such factors as a major labor shortage, supply-chain issues, and soaring inflation. Even in the best of times, commodity prices change on a daily basis. Back-Office Tech Plays a Critical Role.

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Pricing Scheduling Information Accounting 203

Modern Restaurant Management

NOVEMBER 5, 2021

Since then, sales have fluctuated in response to surges of COVID-19 cases, climbing up to $72 billion in August 2021. Predictive analytics enables you to match internal data, like sales history, with external data such as natural disasters, weather patterns, and even gas prices. Total restaurant industry sales in the U.S.

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Procurement Information Pricing 236

Modern Restaurant Management

MAY 22, 2023

It’s no surprise that inflation is taking a toll on the restaurant industry and Americans are noticing the price increases. ” Provoke Insights has been partnering with Modern Restaurant since October 2021. As a result, people are dining out less frequently. Full-service dining has seen the largest decrease in patronage.

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Customer Service Budgeting Pricing Magazine 180

Boutique Hotel News

FEBRUARY 21, 2023

UK: Global travel technology company OYO has added 40 UK hotels to its platform and doubled its revenue in 2022 compared to 2021. The new OYO properties are located in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston.

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Pricing Marketing 130

Modern Restaurant Management

AUGUST 10, 2022

Food prices are soaring amidst supply chain disruptions, increasing labor costs, and processing plant shutdowns. Poultry prices are up 15 percent to 18 percent ; the cost of eggs has risen 73 percent. The food service industry is scrambling to keep up with these new costs, pushing the price of a restaurant meal to a 40-year high.

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Pricing Training Customer Service Scheduling 188

Modern Restaurant Management

MAY 19, 2022

The prices of goods and services have increased 8.5 percent from March 2021 to March 2022, accounting for the highest inflation rate since December 1981. Rebounding demand, supply chain issues, and labor shortages are mostly to blame for driving prices to an all-time high. Take Advantage of QR Codes.

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Pricing Accounting Training Information 187

EATER

OCTOBER 21, 2024

And this was on top of general griping about his restaurant’s high prices compared to other Asian restaurants in the San Gabriel Valley, says Yang. Preparing customers for higher prices requires initiating an explicit conversation the customer usually won’t start. But recently, it had to announce the ending of that perk.

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Communication Pricing Information Training 131

EATER

OCTOBER 28, 2024

Agua Mágica, which launched in 2021 with co-founder and CEO Rafael Shin, wants to change how mezcal is valued, paying mezcaleros like Hernández higher prices for the higher quality of their product, as opposed to the current system of pricing regardless of quality.

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Pricing 57

Modern Restaurant Management

JULY 29, 2022

In 2021, QSR brands spent an estimated $1.8 Reduces price sensitivity – Pricing is crucial for profitability. During times of inflation or uncertainty, such as when brands are struggling with supply shortages, rising employee wages and the increasing cost of goods, price increases may need to be passed onto customers.

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Marketing Pricing Book 208