Revenue Hub

FEBRUARY 15, 2023

However, limited budgets will force many to adjust travel plans and reduce overall holiday spend. In this situation, cash reserves must be managed carefully. Read rest of the article at OTA Insight The post 8 Steps to Help Make Your Hotel Recession Proof in 2023 appeared first on Revenue Hub.

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Revenue Hub

NOVEMBER 15, 2022

If your hotel is not currently considering including new technology in the 2023 budget, below are 5 things you may wish to consider – plus an added bonus: 1 reason NOT to adopt new technology. 2023 is time to do less with more. Reservations Manager doesn’t have time to update rates daily? There is tech for everyone.

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Hotelogix

NOVEMBER 28, 2024

It automatically updates room availability, rates, and reservations across all these platforms. Focus your efforts and marketing budgets accordingly. The Growing Importance of Channel Management The global travel market continues to grow, with online bookings making up over 60% of reservations in 2023.

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Boutique Hotel News

JANUARY 27, 2023

The company, which has €18 billion of assets under management, has committed to reducing embodied and operational CO2 emissions by 30 per cent and 50 per cent respectively before the end of 2023. 2023 is likely to see further political and economic uncertainty which will see winners and losers on the exchange rate see-saw.

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Hotel Owner

OCTOBER 17, 2023

While occupancy levels still lag behind pre-pandemic levels, many consumers are opting for budget hotels, squeezing middle-market options. and budget hotels at £108.70. This gap has widened, with luxury hotel prices 268% higher than budget hotels in July 2023, compared to the pre-pandemic peak season at 244%.

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InnQuest

AUGUST 15, 2023

Each OTA has its own system, interface and requirements for updating room availability, rates and reservations. Booking Synchronization: The channel manager also acts as a go-between for the reservation system and the distribution channels. To learn about hotel pricing strategies to boost revenue in 2023, read this.

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Revenue Hub

APRIL 30, 2024

The base management fee typically covers the services provided by the management company for the day-to-day operation of the hotel, including overall management oversight, staffing, training, budgeting, financial reporting, and operational support.

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Hotel Owner

DECEMBER 18, 2024

Insolvencies in the accommodation and food services sector were down 24% to 253 in October 2024, down from 332 in October 2023. With the festive trading period well underway, operators will be hoping to build up some reserves to help mitigate the impact of looming cost increases.

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Larry Mogelonsky

AUGUST 2, 2023

While there are lots of stats showing that travel numbers for 2023 will defy the economic gravity of a recession, the reactionary throttling of household discretionary spending – namely vacations – tends to only reveal itself as a lagging indicator. These trends are reaching the mainstay at the exact moment that hotels need more guests.

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7 Shifts

FEBRUARY 8, 2024

The ripple effects of the pandemic continue: the National Restaurant Association finds that off-premises dining continues to happen much more frequently than before, with 66% of consumers more likely to order takeout in 2023 than they were before the pandemic. It's arguably the go-to platform for diners looking to make a reservation.

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OpenTable

MARCH 1, 2023

More than 87% say they’re likely to hire in 2023 if they can find qualified applicants, according to the National Restaurant Association. Here’s what to know about the restaurant staff shortage and what your restaurant business can do to staff up in 2023. Online reservations offer guests convenience and reduce the need for hosts.

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7 Shifts

MAY 15, 2023

Accessing their funds every week makes budgeting more straightforward. This is usually reserved for high-level salaried employees such as a GM or executive chef. Choose a platform that offers payroll along with other tools like time tracking, labor budgeting, and tip management. However, you may receive a 5.4%

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7 Shifts

FEBRUARY 8, 2024

The ripple effects of the pandemic continue: the National Restaurant Association finds that off-premises dining continues to happen much more frequently than before, with 66% of consumers more likely to order takeout in 2023 than they were before the pandemic. It's arguably the go-to platform for diners looking to make a reservation.

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SiteMinder

DECEMBER 3, 2023

Holiday bookings refer to the reservations made by individuals or groups for accommodation, travel, and other related services during their vacation period. It ensures that guests have a seamless experience from the moment they make a reservation to the time they check out. What are holiday bookings?

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EATER

APRIL 7, 2023

Sheraton, who grew up in New York, had a profound influence on modern food criticism, pioneering making reservations under false names and wearing wigs to dinner, in order to see how restaurants would treat “real” patrons. link] — Jason Diamond (@imjasondiamond) April 7, 2023 Sheraton’s legacy is one of brutal honesty.

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Housekeeping Budgeting Reservations Magazine 95

SiteMinder

SEPTEMBER 17, 2024

Dynamic Revenue Plus is uniquely powered by the data within SiteMinder’s platform, which stems from an unparalleled 120 million annual hotel reservations that give users of Dynamic Revenue Plus the most comprehensive data available, including top source markets. SiteMinder’s solution is very powerful in this way.”

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Modern Restaurant Management

DECEMBER 27, 2023

Even though cooling inflation is a positive, it’s still running ahead of the Federal Reserve’s 2 percent target and has not yet resulted in relief on costs. As of the end of 2023, the industry is still 14,000 jobs behind that pre-pandemic level. It’s the industry’s biggest concern.

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Hotel Owner

FEBRUARY 19, 2024

A quarter of hospitality businesses have no cash reserves and a further 29% have less than three months’ worth, according to a joint survey by UKH, the BBPA, BII and Hospitality Ulster. This has increased by 6% compared with October 2023. The fact that a quarter has run out of cash reserves completely is a real cause for concern.

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SiteMinder

MARCH 13, 2024

billion in 2023, booking apps are where the money is – as well as your own hotel website. Cheapest hotel app There’s really no definitive ‘cheapest’ hotel app, since budget hotels and affordable accommodations can be found on all apps. Guests can also manage their reservations, and redeem rewards if they are a member.

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Revenue Hub

MARCH 22, 2023

In Cloudbeds’ 2023 State of Independent Lodging Report , we looked at data, surveys, and trends collected from thousands of independent properties to answer this question and more. Commission fees for some channels can be as high as 30% per booking, so it’s crucial not solely to rely on OTAs for reservations.

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Revenue Hub

APRIL 4, 2023

If it isn’t already, metasearch should be a key element of your hotel’s digital strategy in 2023 to help rescue some of that painfully-paid commission. By connecting your hotel’s CRS (Central Reservation System) to major and regional metasearch channels, we can help you to show live room rates across Google, TripAdvisor, Trivago and more.

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EATER

MARCH 5, 2024

With over 94 million views on TikTok, it swept the 2023 holiday season after creator Tineke Younger , more commonly known as Tini, posted it on the platform in November. You first make a cheese sauce, though Budget Bytes calls for a combination of chicken broth and heavy cream instead of a roux. But could it be as satisfying?

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SiteMinder

FEBRUARY 28, 2023

One result of this was the entertainment hub of Macau exceeding 55,000 daily arrivals in mid-January 2023, the highest since the pandemic began. Early data indicates that travellers from China will take 110 million international trips in 2023, two-thirds of 2019 volume. Naturally, this caused some consternation around the world.

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Modern Restaurant Management

JUNE 27, 2023

In its 2023 State of the Industry report, the National Restaurant Association found that exactly half of all operators expect to be less profitable as compared with the previous year. This year could be a tough one for many restaurant operators.

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Modern Restaurant Management

NOVEMBER 27, 2024

Ninety-five percent of those surveyed reported using some form of AI in their restaurant, with the most common being AI-assisted inventory management (35 percent), AI menu optimization (35 percent) and AI reservations/bookings (32 percent). As America budgets for the holidays, in-home hosting activity is set to rise by 6.3 population.

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Revenue Hub

DECEMBER 8, 2023

In fact, the global hotel industry is expected to reach a market value of $870 billion by the end of 2023, with the luxury hotel market estimated at $115.8 Over 80% of hotels reported staffing shortages in Q2 2023. Your Hotel Needs to be Future-Ready Last year, we shared the Technology in Hospitality Trends and Priorities for 2023.

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Hotel Business

MAY 3, 2023

She’s a strong communicator, a genuine team player and a natural leader with 23 years of hotel industry experience, 11 of those years dedicated to financial planning, budgeting, forecasting and decision support for all critical functions of the business. The sky is the limit for MJ’s revenue goals,” she added.

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Budgeting Reservations Communication Marketing 52

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. However, affordable Michelin dining options still exist.

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EATER

SEPTEMBER 11, 2024

My friends and colleagues can’t stop talking about it, our personal and professional budgets strained to the breaking point. Or maybe the answer just keeps shaking out in one direction. Everything feels so expensive. Every check is a shock. We are eating out less often. We are ordering less when we do. We recommend new places with caveats.

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Pricing Definition Front of House Server 145

Xotels

SEPTEMBER 22, 2022

If it’s true that social media rarely play any role during the final step of guests’ reservations, they do in the first micro-moments of the booking journey. Chances are you’re aware of your booking engine’s conversion rate, but what about your reservation department? Train your staff to sell better.

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Hospitality Magazine

SEPTEMBER 20, 2023

Not in 2023, and that wasn’t the point. The reservation-less Golden Hours program will run throughout September and has been a hit with diners looking for budget-friendly food and drink in a premium setting. “I Is it possible to make money on a $2 oyster? I think there are more venues doing it these days,” says Bradey.

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Boutique Hotelier

FEBRUARY 20, 2023

That is because Michelin reserves its stars for restaurants. Don’t miss Michelin’s 2023 guide announcement either, to see which hotels will be retaining, gaining or losing a star. After all, what could be better than slipping into a king-sized bed after a big meal? There are two-night packages available too.

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Larry Mogelonsky

DECEMBER 11, 2023

The start of the fourth quarter brings on the all-too-important annual tradition of budget planning for next year, and yet 2024 ‘s specific challenges have given the more heavily integrated hotel technologies a unique time to shine.

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SiteMinder

FEBRUARY 25, 2024

Table of contents Latest news in the hospitality industry A year of increased stability and growth At the beginning of 2023 the focus was firmly on growth, particularly given the effects of COVID on the travel sector over the preceding years. million visitors in 2023 , equal to 71.6% In other news: Hotels in London experienced a 4.2%

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7 Shifts

JUNE 16, 2024

million worldwide, and in 2023, there were about 749,404 restaurants in the United States alone. However, if you have very limited space and creating a function room doesn't seem feasible, you can allow your guests to book or reserve tables in advance if they're planning a huge celebration. billion in 2023.

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Les Roches

SEPTEMBER 3, 2024

Front office management From check-in and check-out to managing reservations, handling requests and resolving issues, this department is the first and last point of contact for hotel guests. Core areas of hotel operations Depending on the hotel’s size, structure and service offerings, there are usually several different departments.

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EATER

MAY 9, 2023

Your budget does typically go further,” Morrill says. Some restaurants have dedicated spaces that are reserved as private dining rooms (or PDRs), where a group can celebrate while the restaurant continues operating. What’s the best way to do a restaurant wedding on a tighter budget? Scale back what you need.

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