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

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Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. "With consumer behaviors now firmly established around off-premise dining solutions due to the pandemic, off-prem will remain a prevalent option for 2023. For part two, click here.

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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.

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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.

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Modern Restaurant Management

DECEMBER 27, 2022

Inflation is causing food prices – and food insecurity – to soar. . Boost Workplace Accountability. Organizations will need to prioritize broader social accountability, which includes hiring a diverse workforce to ensure your staff is representative of your increasingly diverse customer base. million tons of grain.

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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.

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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.

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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 .

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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The Restaurant Times

FEBRUARY 24, 2023

But, to give a fresher perspective on your cloud kitchen business model in 2023, we are here with some tips on boosting the profits of an already profitable business establishment. Unified software platforms that often have all these solutions in one can be your best bet in 2023.

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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.

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Hotel Business

OCTOBER 27, 2023

In third-quarter 2023, Accor opened 73 hotels, for around 9,200 rooms, and has thus achieved net unit growth of 3% over the last 12 months. At the end of September 2023, the group had a hotel portfolio of 812,425 rooms (5,537 hotels) and a pipeline of around 219,000 rooms (1,273 hotels). million) in Q3 2023, up 11% LFL year-on-year.

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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.

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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.

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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

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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

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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.”

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Hotel Owner

FEBRUARY 1, 2024

The total transaction value for hotels in London amounted to just over £1bn in 2023, down 36% compared with last year, the lowest in the past decade, according to data from CoStar. Trades in London accounted for nearly half of total UK volumes as a lack of major portfolio deals kept activity somewhat subdued. Archer Capital B.V.

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Hotel Business

MAY 1, 2023

In first-quarter 2023, Accor once again stepped-up business growth across all regions and in its two divisions: premium, midscale and economy; and luxury & lifestyle,” said Sébastien Bazin, chairman/CEO, Accor. In first-quarter 2023, Accor opened 36 hotels (around 4,400 rooms), and has achieved net network growth of 2.9%

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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.

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SiteMinder

NOVEMBER 24, 2023

Generally, reviews also contribute to transparency and accountability within the industry, fostering a culture of improvement as software developers can leverage on feedback to refine and upgrade their tech products. Cons: A bit high price when compared to many products in the market, however the value in return is a key.

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Serviced Apartments

JUNE 12, 2024

As of 10 June, Sonder said that it had signed agreements to exit or reduce rents in 105 buildings, which accounts for 4,300 units. Of that number, agreements have already been reached to exit 80 buildings [3,200 units] and Sonder has already vacated 60 of those buildings, accounting for 2,300 units. at the time of writing.

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Hotel Owner

SEPTEMBER 6, 2024

In the second quarter, European hotel transaction volumes hit €5.8bn (£4.89bn), nearly double the level reached at the same time last year (€3.0bn (£2.53bn) in Q2 2023). The UK, Spain and France were the most active markets, accounting for €7.8bn (£6.58bn) of transactions – over two thirds of the European total, and 62% more than H1 2023.

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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.

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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.

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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.”

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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.

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