Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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Boutique Hotel News

JANUARY 16, 2023

Industry leaders share their thoughts on the travel, hospitality and economic landscape in 2023. According to the CEBR, these preferences, such as the increasing demand for longer trips and remote working spaces, are particularly prevalent among younger generations, indicating a promising outlook for our sector well past 2023.”

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Modern Restaurant Management

DECEMBER 20, 2023

In 2023, the restaurant industry faced several challenges and made some missteps along the way. – Corin Camenisch, Product Marketing Lead at SumUp AI is revolutionizing the industry, but we’ve only scratched the surface. By 2023, what began as a convenience has evolved into a necessity, shaping the way businesses operate.

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InnQuest

OCTOBER 11, 2023

In 2023, the US market is bustling with various online travel agencies, each offering unique features and services for travelers. What’s more, Booking.com regularly offers exclusive deals and discounts for travelers in 2023, ensuring you get the best value for your money.

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Revenue Hub

APRIL 13, 2023

Today we are joined by: Pontus Berner from berner+becker , one of our Expert Partners In today’s discussion we take another look at the German hotel market and follow up on our conversation in September when Pontus considered what might happen in Winter 2022 and he also looks ahead to Summer period coming up.

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Hotel Owner

APRIL 27, 2023

Hotel operators have continued to outperform the wider hospitality sector as they were able to charge the same room rates as peak season prices in 2018, despite March’s wet weather, according to the RSM Hotel Tracker. Meanwhile, in the London market room rates increased from £196.21 in February to £135.51 in February to 68.7%

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Boutique Hotel News

DECEMBER 20, 2022

BHN editor Eloise Hanson outlines six hotel and travel trends expected to shape the industry in 2023. This means that during periods of high consumer price growth, hotels have been able to raise room rates and pass on these rising costs to guests. Technology adoption in 2023 will set innovative hoteliers apart from the competition.”.

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Hospitality Net

APRIL 10, 2024

In 2023, the hotel transaction volume in Greater Paris reached €1.7 The significant increase was primarily driven by The Westin Paris transaction, making up 40% of the total volume, with a price per key exceeding €1.5 Billion, marking a 27% rise from 2022.

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Hotel Owner

OCTOBER 21, 2024

The three-star Oaks Hotel near Burnley, Lancashire, has been brought to market inviting offers in the region of £1.8m. Net turnover for the year ended October 2023 was £1,756,555. Included within the guide price is a detached lodge located at the entrance to the site. The AA three-star hotel sits in around 3.5

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InnQuest

JANUARY 5, 2023

In this blog, we share 3 powerful tips to help you stay competitive and elevate guest experience in 2023 – Adopt Contactless Technology – One of the latest hotel technology trends in the post-pandemic era includes the rise of contactless technology. Book a demonstration of our award-wi nning hotel management software here.

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Hotel Owner

JULY 3, 2023

The way that the majority of hotel businesses currently make price level decisions is by looking at historical data, taking what happened last year and comparing that with the upcoming dates year-on-year. This volatility is a consequence of changing patterns in demand across different markets and different customer segments.

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Modern Restaurant Management

APRIL 18, 2024

The global restaurant fryers market is projected to grow at a CAGR of 5.6 percent over the forecast period of 2023 to 2033. The market sales are on course to increase from US$ 495.6 Million in 2023 to US$ 854.6 Million by 2033, according to Future Market Insights.

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Boutique Hotel News

JANUARY 4, 2023

India: The proposed initial public offering [IPO] for Indian hospitality chain OYO is set to be delayed once again after the national capital markets regulator asked its parent company to refile its draft IPO papers with certain updates. The post OYO IPO set for further delay in 2023 appeared first on Boutique Hotel News.

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Revenue Hub

FEBRUARY 8, 2023

NB: This is an article from Cloudbeds , one of our Expert Partners While demand is back, the pandemic and its lasting effects fundamentally changed traveler behavior, and in 2023, experience-based travel will be prominent as travelers look to make up for lost time. Value-driven travel takes priority.

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Revenue Hub

JANUARY 17, 2024

NB: This is an article from BEONx , one of our Expert Partners During the last few years, a unique and powerful phenomenon has occurred in this industry market: we have been witnesses of a swing similar to that of a pendulum, not only recovering from the challenging situation of the COVID-19 pandemic, but surpassing unexpected limits.

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Revenue Hub

FEBRUARY 9, 2023

While demand for air travel is expected to continue rising in 2023 as Asia Pacific opens, it will be essential to ensure airlines are paying attention to travelers’ needs and expectations to develop their airline marketing strategy. As economic pressures rise in 2023, price will continue to impact how travelers make their decisions.

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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. Unfortunately, the traditional marketing tech stack that restaurants have long relied on is outdated, overpriced and ineffective in today’s digital ecosystem.

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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.

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eZee Absolute

JANUARY 16, 2024

From navigating changing travel trends to embracing technological advancements, 2023 was a year of resilience, innovation, and reimagination. To help you navigate the ever-growing blogosphere, we’ve compiled a list of the top 10 hospitality blogs from 2023 that every hotelier must follow. This is where our next blog comes in.

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Modern Restaurant Management

MARCH 23, 2023

But in 2023, month-over-month trend lines have evened out. percent YOY) was the top-performing QSR channel in February 2023. Yet QSRs are slowing down price increases to meet tightening budgets. The average price flattened, up 14.0 A week ago, we lauded a flat line (on a graph, that is). percent YOY. Dine-in (+29.8

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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. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. Don’t be afraid to increase price.

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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.

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Boutique Hotel News

JANUARY 16, 2023

[SPONSORED CONTENT] Cvent highlights some key findings from its latest Travel Manager Report and how venues can best capture demand in 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. Supplier takeaway.

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InnQuest

JULY 10, 2023

Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users.

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Modern Restaurant Management

DECEMBER 19, 2023

The recovery in the restaurant industry means that restaurant owners looking to sell their business in 2020, but couldn’t due to the pandemic economy plummeting restaurant values can finally sell in 2023. However, high-interest rates are pushing some prospective buyers out of the market who can’t pay with cash.

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Hospitality Net

APRIL 4, 2024

High inflation and consequential rises in interest rates had major impacts on investment markets throughout 2023, including slowed hotel transaction activity in Europe. There were 6% fewer transactions than in 2022, indicating that the average price per room was also down in 2023. Reaching €10.7

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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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Hotel Owner

MARCH 27, 2024

The freehold of Morley House, a hotel development site with GDV for in excess of £250m, has hit the market for an undisclosed amount. Operationally, London hotels have continued to outperform and we’ve seen this translate into positive investor engagement and pricing levels.”

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STAAH

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand. Listening to the guests was key to informing room pricing that yielded the best returns for the business, i.e. moving into the era of dynamic pricing.

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Boutique Hotel News

JANUARY 19, 2023

UK: UK consumers are continuing to book staycations in 2023 despite the cost of living squeeze on household incomes and the opening up of international travel, according to a recent survey of 1,000 consumers. Families were also keen to book in plans for a UK break in 2023.

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Hotel Owner

DECEMBER 12, 2023

The UK hotel market has recorded another year of strong trading performance, according to the latest UK Hotel Trading Performance Review 2023 by global property adviser Knight Frank in partnership with HotStats. Full year 2023 occupancy will continue to lag 2019 levels by just 2.6 London’s GOPPAR performance is now 1.7%

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Modern Restaurant Management

APRIL 10, 2024

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

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Hotel Owner

JANUARY 11, 2024

Signs of “rebalancing” across the UK hotel sector were seen in 2023, with trading performance maintaining an “upwards, albeit decelerating” trajectory, according to a new report from Christie and Co.

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InnQuest

DECEMBER 21, 2022

Before we delve into why KPIs are important, let’s understand what it stands for: Key performance indicators are a set of specific, measurable values that companies use to track and assess how close they’ve reached towards achieving key objectives — from sales and marketing to product development and customer service perspectives.

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InnQuest

MARCH 23, 2023

million Chinese tourists entered Australia each year before the pandemic (Statista). In this article, we’ll take a look at some key statistics about the market in general, and the situation regarding our recovery from the pandemic. in 2023 (IBISWorld). From 2018-2023, the industry within Australia declined by 4.9%

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Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 ” To optimize your menu using value or bundled meals, remember the 3M’s: Measure, Market and Monitor. Effective marketing can bridge this gap.

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Revenue Hub

APRIL 28, 2023

Subscribe to our weekly newsletter and stay up to date Nevertheless, Asia is poised for a sharp rebound in 2023. We also provide a peek at 2023 booking trends with a look at January data. And we share strategies for leveraging shifting travel patterns to grow revenue and outperform competitors in 2023.

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