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. Travelers are upping their budgets as well, with 43% of consumers saying their budget for the next 12 months will be higher than last year.

Pricing 98

Pricing Budgeting Book Article 98

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. However, when asked in Q1 2022, just 81 percent had made a weekly stop. Gen Z respondents reported a decrease in full-service visits, too, from 33 percent in Q4 2021 to 15 percent in Q1 2022.

Budgeting 208

Budgeting Pricing 208

Boutique Hotel News

JANUARY 16, 2023

This more positive outlook is also seen in business travel, which now promises a long-awaited rebound with more than half of global company travel budgets back to pre-pandemic levels. .

Pricing 246

Pricing Marketing Budgeting Training 246

Revenue Hub

NOVEMBER 17, 2022

The end of 2022 is proving to be an interesting quarter for both travelers and hoteliers, thanks to several key trends like increased travel demand, record-high inflation, and limited flight availability. Projected Increase in Flight Prices. But there’s more to these high prices than increased demand alone.

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Pricing Book Article Budgeting 94

Modern Restaurant Management

JANUARY 30, 2024

Net sales are primarily driven by average check increases and pricing opportunities are diminishing. With little margin for taking price, brands will need to adopt a broad perspective, focusing on creative traffic-driving strategies, and get down into the specifics by analyzing local competitor and consumer data. Inflation slowed to 3.4

Pricing 162

Pricing Budgeting Marketing 162

Modern Restaurant Management

MARCH 23, 2023

Our graphs of early 2022 quick-service restaurant traffic trends looked like a mountain range — a significant dip in performance followed by a steep climb, thanks to the appearance and ultimate retreat of the omicron variant. Yet QSRs are slowing down price increases to meet tightening budgets.

Marketing 173

Marketing Pricing Budgeting 173

Modern Restaurant Management

OCTOBER 1, 2022

But is it so simple to stand out from the crowd in 2022? Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times.

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Marketing Budgeting Communication Information 203

Modern Restaurant Management

FEBRUARY 1, 2023

” In a 2022 Toxic Work Environment Report , “CareerPlug found that 52 percent of employees in the restaurant and food services industry do not feel like their manager genuinely cares about them/their performance at work. So, when your budget is declining, your job bids become scarce and can become lost in the sea of the internet.

Budgeting 189

Budgeting Training Scheduling Pricing 189

Restaurant Engine

OCTOBER 27, 2021

Control your restaurant spending to propel your restaurant growth in 2022. In this article, we look at seven tips to control restaurant spending in 2022. #1: Another of the biggest draws on your budget is staff costs. You can look at price changes as well as substitutions for ingredients that are less expensive.

Portion Control 90

Portion Control Article Pricing Budgeting 90

Boutique Hotel News

JANUARY 16, 2023

According to the new Cvent Travel Manager Report: Europe Edition December 2022 , corporate travel managers seek value, sustainability, and cost-cutting opportunities in 2023. Rising costs spur budget increases . Eighty-one per cent in total say their budget will rise, including 26 per cent who predict it will increase significantly.

Budgeting 130

Budgeting Download Events Pricing 130

Modern Restaurant Management

MAY 2, 2022

Soaring prices, continued supply chain disruptions, and ongoing staffing shortages are creating a perfect storm for restaurants. Food and labor costs are elevated and expected to remain high in 2022 , negatively impacting restaurants’ profit margins. With prices skyrocketing, restaurants should focus on eliminating food waste.

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Training Pricing Document Information 218

Modern Restaurant Management

DECEMBER 27, 2022

As we close out 2022, food production is at risk. Inflation is causing food prices – and food insecurity – to soar. . Luckily, tech solutions have become more affordable and accessible for food businesses of all sizes and budgets, allowing them to increase transparency, accuracy, safety, and quality. . million tons of grain.

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Training Budgeting Accounting Pricing 226

Modern Restaurant Management

DECEMBER 21, 2021

While supply chain issues will likely decrease over the course of 2022, wage inflation represents a new status quo on the bottom line. There is money to be saved by more closely managing campaign budgets and the cost of offers by zeroing in on efforts around segmentation and personalization.

Kitchen Operations 196

Kitchen Operations Back of House Pricing Marketing 196

Revenue Hub

FEBRUARY 6, 2023

With inflation staying low over the last ten years (1.88% on average), the current rise (8% annual average in 2022) has begun to make ripples across industries, and hospitality is no exception. dip in prices from November. According to a study by NerdWallet, hotel prices are still very much on the rise.

Pricing 98

Pricing Budgeting Article Book 98

Modern Restaurant Management

MAY 18, 2022

In recent years, medical technology has been driving trend, but in today’s economic environment, medical providers are raising prices. Likewise, forecasting costs and building budgets will mean understanding medical costs as well as the hiring market. percent in 2022, down from 7.0%. Costs Are Increasing.

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Concierge Budgeting Scheduling Article 212

Hotel Owner

FEBRUARY 23, 2023

UKHospitality has revealed that 32% of hospitality firms are at risk of failure within the next year, despite hospitality sales in 2022 surpassing pre-Covid levels. in 2022 compared with 2019, but down 13% in real terms when inflation is accounted for.

Pricing 105

Pricing Budgeting Accounting Marketing 105

Hotel Owner

FEBRUARY 15, 2023

in January 2022. The largest downward contribution to the change between December 2022 and January 2023 came from transport (particularly passenger transport and motor fuels), and restaurants and hotels, with rising prices in alcoholic beverages and tobacco partially offsetting upward contribution to the change.

Pricing 98

Pricing Budgeting Marketing 98

Hotel Business

NOVEMBER 1, 2023

Intent to travel between Thanksgiving and mid-January is up across all age and income groups with an average holiday budget of $2,725. More than half (56%) of holiday travelers plan to stay in hotels, up from 35% in 2022. Twenty-two percent of Millennials also plan to significantly increase their holiday travel budget this season.

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Budgeting Pricing Book Events 116

Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. But, according to the same report, about 40 percent of consumers agree that with rising grocery store prices, it’s not necessarily cheaper to eat at home.

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Marketing Information Budgeting Reservations 151

Hotel Owner

OCTOBER 17, 2023

Formerly a Jury’s Inn, the Leonardo Hotel was rebranded and refurbished in 2022 and is one of 52 Leonardo Hotels across the UK and Ireland – owned by the Fattal Hotel Group. The investment is priced attractively and at the quoted price it is also substantially underpinned by its vacant possession value.” compared to 73.2%

Marketing 98

Marketing Budgeting Pricing Presentation 98

SiteMinder

SEPTEMBER 25, 2023

While the total number of travellers planning to explore internationally has remained stable year-on-year (2022: 62%, 2023: 64%), the number planning to travel internationally only has more than doubled. 1) 87% of travellers globally are happy to spend additional money, beyond their room vs 85% in 2022.

Travel and Tourism 111

Travel and Tourism Pricing Budgeting Marketing 111

Hotel Owner

NOVEMBER 14, 2022

Budget hotel chain EasyHotel has reported a period of strong trading as it revealed over £62m in total systems sales for the year ending 30 September 2022. Business on the books for November is already above budget and October was 78% stronger than October 2021.”.

Budgeting 105

Budgeting Events Pricing Book 105

Modern Restaurant Management

SEPTEMBER 28, 2022

In June 2022, for example, 38 percent of small restaurant owners could not pay their rent. And for restaurants prioritizing money-saving habits, going digital is the easiest way to start protecting operating budgets. Restaurant profit margins are typically low, coming in at an average of three-to-five percent.

Download 195

Download Marketing Document Budgeting 195

Revenue Hub

MAY 2, 2024

NB: This is an article from TCRM Subscribe to our weekly newsletter and stay up to date This follows on the heels of 1,842 hotel openings in 2022 and approximately 2,480 hotel openings in 2023. A handful of multi-brand conglomerates are now dominating the market across segments from luxury to budget.

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Article Pricing Marketing Customer Service 107

Serviced Apartments

MARCH 6, 2024

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

Budgeting 52

Budgeting Travel and Tourism Catering Pricing 52

Hotel Business

APRIL 12, 2023

based and European executives with travel budget oversight, fielded between Feb. Live events are set to comprise a significant share of corporate travel, advancing from the fifth biggest driver of increased spend in 2022 to the top spot in 2023. companies is expected to rise from 21% in 2022 to 33% in 2023. Only 10% of U.S.

Accounting 111

Accounting Events Budgeting Pricing 111

EATER

NOVEMBER 20, 2023

Whether you’re at the grocery store, where prices have risen nearly 6 percent over the last year, or eating at your favorite restaurant, everyone’s felt the pinch of high food prices. Even if you’re dealing with your own personal budget crisis — and frankly, who among us isn’t? Times are tough! —

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Pricing Budgeting Reservations Accounting 122

Revenue Hub

NOVEMBER 10, 2023

NB: This is an article from PwC Subscribe to our weekly newsletter and stay up to date As a result, occupancy levels have declined in each of the past seven months, relative to comparable 2022 levels, and are expected to continue to be down during the remainder of this year and through at least the first quarter of 2024.

Pricing 107

Pricing Budgeting Article Marketing 107

Hotel Business

JANUARY 23, 2023

The report, “A world in motion: shifting consumer travel trends in 2022 and beyond,” shows that sustainability is a key element of the travel agenda, with travelers eager to reduce their carbon footprint and support sustainable tourism. tourists leading the list as big spenders.

Travel and Tourism 120

Travel and Tourism Budgeting Pricing Information 120

Revenue Hub

FEBRUARY 9, 2023

The percent of American travelers who report that inflation led them to cancel a trip dropped to 27% after peaking at 36% in June 2022. Currently, 42% of American travelers say high travel prices have kept them from traveling in the past month, down from 49% in December. At 30%, this is the highest it has been since last summer.

Article 98

Article Budgeting Reservations Presentation 98

Modern Restaurant Management

DECEMBER 15, 2021

Since the labor shortage across the supply chain is likely to persist past the short-term and with other costs also increasing, one of the few ways restaurants can maintain their margins without raising their prices is to find ingredients that have better yields and require less labor to prepare. Where do you want to go tomorrow?

Marketing 197

Marketing Budgeting Pricing Information 197

Modern Restaurant Management

DECEMBER 21, 2022

Reduce portion sizes slightly to maintain menu prices but account for increased costs. Don’t be afraid to increase price. Don’t be afraid to increase price. Do a budget and work on predicting cash needs the next 60-90 days. Bottom 50 percent of line items produce 3 percent of revenue. and the U.K.,

Pricing 197

Pricing POS Systems Front of House Marketing 197

SiteMinder

OCTOBER 9, 2022

Few roles in the hotel industry have evolved as quickly as the revenue manager.Powered by technological advances, the rapid sharing of knowledge and online training, the discipline is synonymous with smart pricing decisions and expectations are always high in the highly competitive accommodation market. Table of contents.

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Pricing Information Blog Reservations 59

Boutique Hotel News

OCTOBER 28, 2022

While not without controversy, Qatar’s hosting of the 2022 FIFA World Cup is a significant milestone on its journey to becoming a premier league tourism destination. Berthold Trenkel, COO of Qatar Tourism, says: “2022 has been an extraordinary year in Qatar with so many major new hotel and tourism openings.

Travel and Tourism 130

Travel and Tourism Book Events Budgeting 130

Revenue Hub

JANUARY 27, 2023

At the end of 2022, data and insights from STR showed the hospitality industry at substantial levels of performance recovery around the globe with no signs of demand significantly slowing. It appears that travelers are taking rising prices in stride. Rising inflation? No problem, travelers expect to spend more on travel.

Housekeeping 97

Housekeeping Pricing Article Customer Service 97

Revenue Hub

APRIL 14, 2023

Although pandemic concerns and testing regulations generally waned in the second half of 2022, financial concerns seem to continue to create uncertainty for the sector. based and European executives with travel budget oversight, fielded between Feb. companies is expected to rise from 21% in 2022 to 33% in 2023. Only 10% of U.S.

Accounting 96

Accounting Events Budgeting Pricing 96

Revenue Hub

JULY 13, 2023

Through this analysis, they may discover that their competitor offers higher-priced menu items. This presents an opportunity for Hotel 1 to increase its prices, thereby boosting its revenue while still remaining competitive.

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Competitive Analysis Pricing Article Budgeting 98