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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Modern Restaurant Management

DECEMBER 20, 2023

In 2023, the restaurant industry faced several challenges and made some missteps along the way. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. Co-founder, Carbonate Looking back at 2023, I witnessed a significant shift in how restaurants approach loyalty programs.

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EATER

FEBRUARY 27, 2024

Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. If so, you’re in luck!

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InnQuest

FEBRUARY 1, 2023

As we head into 2023, the hotel industry faces several challenges and changes that hotel managers need to be aware of to be successful. Here’s a quick guide hotelier can follow to stay successful in hotel management for 2023. Here’s a quick guide hotelier can follow to stay successful in hotel management for 2023.

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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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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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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. to £203.48, with the rates charged in March 2023 being similar to those charged in July 2018, the peak season for the sector.

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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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Revenue Hub

JANUARY 17, 2024

Surging ADR: Noteworthy Escalation in Average Daily Room Rates Average daily rate per room values, known as ADR, experienced a greater global growth in the last 3 years than in the last two decades prior to COVID-19 pandemic, resulting in the highest hotel prices since records began (Figure 1). Evolution of hotel room price from 2002 to 2023.

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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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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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Hospitality Magazine

DECEMBER 11, 2022

The best bar talent from across the country will come together once again in 2023 for Australian Cocktail Month. Cocktails are priced at $14, with non-alcoholic options coming in at $10. The post Australian Cocktail Month returns in 2023 appeared first on hospitality | Magazine. More information available here.

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Hotel Owner

JUNE 22, 2023

A hotel in Dublin has been criticised by the Irish Minister of Transport after raising the price of a room from €359 (£309) to €999 (£860) for the nights of the Taylor Swift concerts next year. Eamon Ryan TD, who is the leader of the Green Party, told Newstalk radio that the price was “too high and not worth it”. Absolutely!

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Hotel Management Network

APRIL 21, 2023

The post HGV Q1 2023 earnings report: potential impact on stock price appeared first on Hotel Management Network.

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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. Pricing needs to reflect two factors. Secondly, recognition that price elasticity is relative to demand for different products.

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eHotelier

APRIL 12, 2023

The recently released white paper Hospitality Inflation Report 2023 reveals that the hotel industry has effectively handled inflation and passed on the increased energy and labor costs to guests.

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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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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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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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Duetto Cloud

NOVEMBER 12, 2023

The event saw a coming together of hoteliers, leading industry experts, and technology innovators to discuss the power of Total Profitability and Open Pricing. Revenue Strategy Forum (RSF) Hong Hong took place on September 22 at the Mira Hong Kong.

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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. LTO Impact A new Placer.ai

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Modern Restaurant Management

NOVEMBER 28, 2022

Come 2023, it will be increasingly important for restaurants to factor technology into their budgets to adapt to the changing economic landscape and better meet consumer demand. However, when the pandemic hit, people were less sensitive to prices. In 2023, consumers will be more cost-conscious due to inflation and limited wallet share.

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Hospitality Net

APRIL 12, 2023

The recently released white paper Hospitality Inflation Report 2023 reveals that the hotel industry has effectively handled inflation and has successfully passed on the increased energy and labor costs to guests. This ability to manage costs and maintain profitability is one of the industry’s greatest strengths.

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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. Well, we’ve got you covered.

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Modern Restaurant Management

MAY 30, 2023

Digital Dining: What Restaurants Need to Know Now In February 2023, our Revenue Management Solutions (RMS) data analytics team advised on the benefits of attracting and keeping frequent diners. According to our Q1 2023 survey , frequent users were not just visiting QSRs; they planned to keep visiting.

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Horizon Hospitality

SEPTEMBER 18, 2023

Many conversations surrounding 2023 restaurant menu trends seem to focus on quirky and bizarre ingredient combinations or TikTok influencers. Dishes featuring lentils, mushrooms, and unique grains provide the bulk of the protein and can keep diners full and satisfied at a lower price. Contact our restaurant recruiters today!

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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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Lodging Magazine

DECEMBER 16, 2022

DALLAS — CBRE foresees a moderate recession in 2023 that will bring declines in real estate investment and leasing activity, though inflation will recede by year end and well-capitalized investors still will be able to make deals, according to the company’s 2023 U.S. The post CBRE Foresees Moderate Recession in 2023 U.S.

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Lodging Magazine

OCTOBER 30, 2023

ISSY-LES-MOULINEAUX, France—According to Accor, hotel demand remained strong throughout Q3 2023, with RevPAR up 15 percent compared with the prior year despite a high comparable basis (RevPAR in Q3 2022 was up 14 percent compared with Q3 2019).

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Boutique Hotel News

JANUARY 4, 2023

The post OYO IPO set for further delay in 2023 appeared first on Boutique Hotel News.

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Boutique Hotel News

MARCH 15, 2023

According to Hunt, the UK is expected to avoid a technical recession in 2023, and that inflation is set to fall by 2.9 The Energy Price Guarantee, which limits household bills at £2,500, will be extended until the end of June. UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget.

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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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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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Hospitality Net

MAY 5, 2023

Produced in partnership with Hotel Tech Report, this 2023 Buyer’s Guide assists hotel owners and operators through the research, selection and vetting process when identifying a new technology partner to improve their revenue management, pricing and distribution strategy.

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Revenue Hub

JULY 10, 2023

Despite the current economic landscape, exponential levels of revenge travel in summer 2023 continues unabated. Following the pandemic, responsible travel continues to be a critical factor when booking trips, and pricing across European hotels remains above pre-pandemic levels, and lower in the US.

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Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

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