Revenue Hub

OCTOBER 26, 2022

hoteliers negotiating corporate accounts for 2023 are seeking the right balance of rates and services. We’ve got to get the pricing right, because if we don’t get the pricing right at our hotels, then we’re not going to have the desired [general operating profits] and [net operating profits] to flow to the bottom line,” she said.

Accounting 98

Accounting Pricing Marketing Article 98

InnQuest

NOVEMBER 30, 2022

Research suggests that the payment processing solutions market is projected to grow at a CAGR of 11.43% during the forecast period of 2023 to 2030 while the future market value of this market is expected to reach USD 130.94 Transparent Pricing: Easy-to-read statements, upfront pricing with no hidden fees. Subject per account.

Travel and Tourism 217

Travel and Tourism Demo Pricing Accounting 217

Hotel Business

FEBRUARY 22, 2024

Accord Group, for full-year 2023, reported that earnings before interest, taxes, depreciation and amortization (EBITDA) surpassed the 1 billion euro ($1.082 billion) mark for the first time in the company’s history, reaching 1.003 billion ($1.085 billion), up 49% year-over-year. in the last 12 months.

Pricing 105

Pricing Events Marketing Accounting 105

Modern Restaurant Management

DECEMBER 18, 2023

It’s the perfect time to look back on a few things we learned in 2023 – based on recent survey data from our restaurant partners – as well as what we predict for the industry in 2024. The survey also showed 75 percent of respondents expected their labor costs to increase in 2023.

Back of House 202

Back of House Communication Scheduling Accounting 202

Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Get account-level projections. Opt for dynamic pricing. NB: This is an article from Staah.

Budgeting 97

Budgeting Pricing Accounting Article 97

Modern Restaurant Management

FEBRUARY 27, 2023

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Reviewing these numbers frequently can help to hold vendors accountable to the prices they are quoting.

Bookkeeping 189

Bookkeeping Budgeting Scheduling Accounting 189

Modern Restaurant Management

AUGUST 2, 2024

2024 By the Numbers Participants reported continued food and labor cost increases with slight shifts compared to the end of 2023. Those totals are down from the end of 2023 when 89 percent said labor costs increased, with 54 percent reporting 1 percent to 5 percent. LTO Impact A new Placer.ai

Pricing 100

Pricing Training Marketing Book 100

Modern Restaurant Management

JANUARY 9, 2023

expect to be less profitable in 2023. Rising food, labor and energy/utility costs pose significant challenges heading into 2023. business leaders anticipate a recession in 2023, according to JPMorgan Chase’s 2023 annual Business Leaders Outlook survey. 50 percent of operators expect to make less profit in 2023.

Pricing 141

Pricing Maintenance Reservations Accounting 141

Modern Restaurant Management

MARCH 3, 2023

In a State of the Restaurant industry report, the Natiional Restaurant Association sees a return to normal with predicted sales growth in 2023. million by the end of 2023. Competition is heating up : In 2023, 47 percent of operators expect competition to be more intense than last year. "The

Download 203

Download Events Pricing Marketing 203

Modern Restaurant Management

JANUARY 31, 2024

Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. But what we’ve found is that operators have been leaning on menu price hikes to cover their expenses for more than two years now, and they’ve finally reached the limits of what consumers are willing to pay.

Multi-Unit Operations 203

Multi-Unit Operations Bookkeeping POS Systems Pricing 203

Modern Restaurant Management

JUNE 30, 2023

Updating packaging to account for new ways of getting food from restaurant to car to house to table can increase propensity to re-order significantly. Not only was it successful during COVID but new habits account for a maintained lift in the new format. Own Your Changes In March 2023, restaurants’ food prices were 8.8

Pricing 179

Pricing Accounting Communication Training 179

Revenue Hub

JULY 10, 2023

NB: This is an article from OTA Insight In the first half of 2023, the global hotel industry has experienced steady growth in Average Daily Rates (ADR), indicating a positive trend, with Europe and Asia now at the forefront. Non-adjusted prices are now nearly one-third higher than they were three years ago.

Travel and Tourism 98

Travel and Tourism Pricing Article Accounting 98

Revenue Hub

JANUARY 9, 2024

According to Trootech, the present AI market stand October 2023 is worth over 300 billion EUR, and AI has become the number one priority for 83% of businesses around the globe. Revenue managers would use spreadsheets and basic forecasting tools to make pricing decisions, often overlooking the complexity of the market dynamics.

Pricing 109

Pricing Article Definition Catering 109

SiteMinder

MAY 12, 2023

What is hotel accounting? Hotel accounting is the process of recording and maintaining the financial records and performance of your hotel business. Good accounting makes the finances of your hotel easy to understand for management and other stakeholders – so they can make informed decisions. room sales).

Accounting 52

Accounting Maintenance Document Pricing 52

STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Get account-level projections. Opt for dynamic pricing. Read more .

Budgeting 76

Budgeting Pricing Book Accounting 76

Hospitality Magazine

OCTOBER 25, 2023

Kolkata-born Ahana Dutt grew up going to the markets on Sundays with her mother, spending mornings selecting produce and haggling down the price of live fish. I think the pros and cons are the same in the sense that you’re responsible and accountable for everything — it ends with you.” Sundays were special for us,” she says. “It

Definition 130

Definition Catering Accounting Presentation 130

Modern Restaurant Management

JANUARY 8, 2024

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. Vanilla isn’t for everyone In 2023, marketing took a cue from the ice cream parlor, embracing segmentation with the same precision as a sundae artisan.

Pricing 215

Pricing Catering Training Marketing 215

STAAH

APRIL 10, 2023

It offers a wide range of travel services to its partners, enabling them to serve their customers efficiently, with the right pricing and inventory. Find out more here REI Master is a comprehensive Property Management and Trust Accounting System. We aim to bring affordable hotel booking solutions for their partners.

Travel and Tourism 90

Travel and Tourism Property Management Book Budgeting 90

Hospitality Magazine

DECEMBER 1, 2024

Choose wines that complement the characteristics of the seafood dish, taking into account the type of seafood, cooking method, and accompanying sauces or side dishes. A successful food and wine pairing lies in the seamless integration of flavours.

Budgeting 130

Budgeting Pricing Accounting Magazine 130

Hotel Owner

JULY 12, 2023

There has been a “noticeable shift” in buyer profiles for UK hotel investment in the first half of the year, with specialist hotel-focused investors, HNWIs and family-offices accounting for 70% of transactions, according to new research from Knight Frank. Much of this investment originated from Europe, Middle East and Asia.

Accounting 99

Accounting Pricing Budgeting Marketing 99

Hotel Business

APRIL 12, 2023

and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. 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. in 2023, up from fifth in 2022.

Accounting 111

Accounting Events Budgeting Pricing 111

NV Hotels

NOVEMBER 15, 2022

It’s a question hotel owners, accountants, and managers are asking themselves as they consider the most feature-complete data analytics and automation software made for hoteliers by hoteliers. That’s well over the price of a HelloGM subscription paid for by just one of our features.

Demo 98

Demo Accounting Pricing Book 98

Revenue Hub

JANUARY 16, 2023

The skills required to succeed in hotel group, event, and BT sales are going to be hugely different here in 2023, but the disruptions that have caused these changes began much earlier. Hotel salespeople will embrace their role in getting prospects to move dates, while being able to truly support the concept of dynamic pricing for BT accounts.

Training 96

Training Events Article Pricing 96

EATER

SEPTEMBER 11, 2024

Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? You may disagree with how we price this, but here’s why we’re doing this.”

Pricing 145

Pricing Definition Front of House Server 145

Hotel Owner

JANUARY 8, 2024

Around £2bn of UK hotel transactions were recorded in 2023, according to new data from Knight Frank, though investment levels hit their lowest level since 2012. Activity from continental European investors recorded an annual uplift of 40% in 2023 to over £350m, whilst capital sourced from the Middle Eastern and Asia also increased.

Accounting 98

Accounting Pricing Marketing 98

Revenue Hub

NOVEMBER 8, 2024

NB: This is an article from CBRE Subscribe to our weekly newsletter and stay up to date After analyzing publicly available data from five large hotel companies, we found that while growth in several key metrics slowed in 2023, loyalty members’ overall contribution to occupancy increased, though marginal contribution per member contracted.

Book 109

Book Housekeeping Article Reservations 109

STAAH

JULY 3, 2024

According to Expedia Group first-party data, international bookings accounted for half of all package bookings in 2022—and 20% of those international bookings come from a mobile device. Expedia Group travellers will only see the total package price, so you can offer discounts without diluting your public or published rates.

Book 103

Book Accounting Pricing Marketing 103

Revenue Hub

FEBRUARY 9, 2024

Starting with some three hundred brands at five price points, the hotel chains have repeatedly created brands that subdivided those price points. In 2023 Marriott reported adding a company record 91,000 rooms. As part of its 2023 growth, the company acquired the City Express brand, which added 150 properties and 17,500 rooms.

Article 109

Article Pricing Accounting Marketing 109

SiteMinder

APRIL 16, 2024

New data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, reveals a 70% rise in the average booking lead time for hotels in Vietnam, following a sharp rise in international arrivals in 2023. The growth supported Vietnam to reach its target of welcoming 12.5

Book 104

Book Reservations Accounting Marketing 104

Revenue Hub

APRIL 26, 2024

GA4 Migration Checklist Survey Your Universal Analytics Create Your GA4 Account Migrate Your Events Create Custom Metrics Link Account Integrations Archive Historical Data Do hoteliers need to store historical data? If you haven’t already transitioned away from UA, find out everything you need to know about GA4 here. Definitely.

Accounting 109

Accounting Book Article Definition 109

Revenue Hub

SEPTEMBER 18, 2024

A central aspect of budgeting in the hospitality industry is the consideration of external factors that influence demand and pricing. External influences, such as seasonal fluctuations or macroeconomic developments, are also taken into account. in 2023 to 2.2% in 2024 and 1.5% in 2025, according to the Ifo Institute.

Budgeting 104

Budgeting Housekeeping Pricing Article 104

Larry Mogelonsky

JULY 24, 2023

Even in the back half of 2023, every hotel is still contending with inflation in some way or another, likely passing these costs onto the customer. Price Influences Guest Expectations Take this basic scenario for instance. The price is reasonable based on the rates in the guest’s near-past set of hotel experiences.

Pricing 100

Pricing Front of House Accounting Information 100

Hotel Business

APRIL 1, 2024

In late 2023, we substantially grew our portfolio of vacation rentals and are excited to further expand, operationalize and brand this collection to highlight our expertise in this area.”

Procurement 111

Procurement Concierge Housekeeping Maintenance 111

Hotel Owner

APRIL 15, 2024

Hotel insolvencies have increased by 19% in the last year, from 127 hotel companies in 2022/23 to 151 in 2023/24, as operation costs have continued to rise, UHY Hacker Young has revealed. Meanwhile, room occupancy among hotels with less than 25 rooms has continued to fall from 69% in February 2023 to 64% in February 2024.

Travel and Tourism 52

Travel and Tourism Accounting Pricing 52

eZee Absolute

SEPTEMBER 11, 2023

Jump to 2023. Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. Let’s start with the basic question— Table of Content What is Dynamic Pricing? How Can Hotels Use Dynamic Pricing? Hotels use dynamic pricing too.

Pricing 59

Pricing Marketing Book Events 59

Revenue Hub

MAY 9, 2023

million group room nights booked for H1 2023. According to the Global Business Travel Association (GBTA), group travel demand will likely increase in 2023, and the average spend per attendee for group events will increase in 2023. Amadeus reports that group and business travel segments are steadily recovering, with 4.3

Pricing 97

Pricing Book Events Accounting 97

Revenue Hub

APRIL 14, 2023

and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. 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. in 2023, up from fifth in 2022.

Accounting 96

Accounting Events Budgeting Pricing 96