Finance & Development : Lodging Magazine

AUGUST 10, 2023

DALLAS—Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey. Commercial Real Estate Prices Show Signs of Stabilization appeared first on LODGING Magazine.

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Hotelogix

NOVEMBER 28, 2024

It automatically updates room availability, rates, and reservations across all these platforms. Follow these practices to make the most of your system: Keep Rates Competitive - Adjust prices frequently based on demand, market trends, and competitor rates. Many systems offer automated pricing tools.

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Book Property Management Reservations Pricing 130

Revenue Hub

NOVEMBER 4, 2024

A June 2023 report by Statista reveals that 66 % of Gen Z adults and 64% of Millennials are willing to pay extra for flexible cancellation options when booking hotels. Certain customer profiles are more likely to exhibit these behaviours, particularly those who frequently make multiple reservations or change their plans at the last minute.

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Book Reservations Occupancy Management Pricing 108

Revenue Hub

JANUARY 24, 2023

NB: This is an article from OTA Insight To catch up on our first three trends, which included inflation, expenditure on experiences and the industry’s COVID hangover, click here and read on to see the four remaining hospitality and travel trends shaping 2023. Subscribe to our weekly newsletter and stay up to date 4.

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Reservations Book Article Pricing 96

InnQuest

MARCH 23, 2023

in 2023 (IBISWorld). billion in 2023. Revenue is forecast to have an annual CAGR of 1.85% between now and 2027. 23% of bookings are currently made offline. 91% of total revenue will be generated through online sales by 2027, reaching a market volume of US$7.27 From 2018-2023, the industry within Australia declined by 4.9%

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Travel and Tourism Book POS Systems Market Forecasting 130

InnQuest

OCTOBER 3, 2023

Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. This ensures that guests are always presented with accurate information, reducing the likelihood of overbooking or reservation errors.

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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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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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Eat Restaurant Management

NOVEMBER 1, 2023

To help you make an informed decision, we'll compare Yelp Reservations to other reservation systems, considering features, pricing, compatibility, & more.

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Revenue Hub

FEBRUARY 9, 2023

Booking behavior appears to also be up: 17% of American travelers said they made reservations or purchased tickets for trips in the last week alone. Currently, 42% of American travelers say high travel prices have kept them from traveling in the past month, down from 49% in December.

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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

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. A Restaurant Pulse Check by Vericast found that nearly half of consumers plan to spend less on dining out in 2023. billion consumers with restaurants every year.

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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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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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Travel and Tourism L&D Marketing Pricing 130

Revenue Hub

APRIL 21, 2023

Direct hotel bookings are reservations that a guest makes directly with a property. The most direct a guest can book is via walk-in or phone reservation, but depending on your property type and location you may not receive many of those. Your booking engine is the end destination of every direct online reservation.

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Book Reservations Article Property Management 89

Revenue Hub

NOVEMBER 29, 2024

Here is our round up of 8 Success Stories from our Expert Partners outlining revenue growth, increased ADR, occupancy, booking growth, pricing changes and direct channel success. Challenge Eliminating heavy reliance on manual spreadsheets for revenue management and generating data insights for accurate, data-driven pricing.

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Book Pricing Reservations Events 108

Revenue Hub

FEBRUARY 15, 2023

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. It’s the only way to develop the agile practices you need to detect, understand and quickly react to trends and market changes.

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InnQuest

AUGUST 15, 2023

Hotels face a daunting challenge as travelers seek convenience and competitive prices: how to efficiently manage their room inventory across multiple online distribution channels while maintaining real-time updates and avoiding overbooking. To learn about hotel pricing strategies to boost revenue in 2023, read this.

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Reservations Book Property Management Pricing 130

Revenue Hub

MAY 24, 2024

Whether it’s a Friday evening flight, a hotel during the holidays, or a taxi ride in a downpour, we have all been burned by higher-than-normal prices due to excess demand. ” Restaurants have long used dynamic pricing, for example, by offering Happy Hour specials to attract customers after work.

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Modern Restaurant Management

DECEMBER 28, 2023

A Decade of DoorDash DoorDash celebrated its 10th anniversary by unveiling Dash From the Past 2023 and Dash From the Past: A Decade Delivered, which checks in on popular trends as we celebrate the best of what users have dashed over the past year, and over the past decade. Like the most ordered food on DoorDash of all time: French fries.

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Revenue Hub

JUNE 18, 2024

The Front Desk Manager in a hotel is pivotal in orchestrating the first and lasting impressions of guests, managing the reception team to ensure a seamless check-in and checkout process, handling reservations and addressing guest inquiries and concerns – always with the utmost professionalism. reservations, housekeeping, maintenance, etc.),

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Guest Satisfaction Pricing Housekeeping Communication 109

eZee Absolute

NOVEMBER 18, 2022

For the year 2023, it’s important to ensure your hotel is up to standard. What’s in Store for the Hospitality Industry in 2023? Things to Change and Improve in a Hotel in 2023. What’s in Store for the Hospitality Industry in 2023? Furthermore, new travel trends are expected to show up in 2023.

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Revenue Hub

OCTOBER 12, 2023

According to a Moody’s report, nine of the 19 CMBS loans that liquidated in the second quarter of 2023, 47%, were hotel loans that initially defaulted in 2020, selling at a loss after the borrowers failed to work out a solution to avoid default. The post Hotel Sector Health Still Strong: Will This Continue or Melt Away?

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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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SiteMinder

JULY 11, 2024

“We are seeing heightened demand from a range of both international and domestic locations, and are confident that SiteMinder’s revenue platform will allow us to optimise our pricing strategies and inventory management, with speed, to meet current and future demand.”

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Reservations Information Pricing Marketing 105

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? This isn’t a problem of one city or class or demographic.

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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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Book Housekeeping Article Reservations 109

SiteMinder

FEBRUARY 13, 2023

days, while Mexican reservations were the longest year round, followed by those made to Portuguese, Thai and Spanish properties. Despite the average daily rate (ADR) of a hotel room rising 24% year-on-year to US$177, booking momentum remained robust, with reservation volumes rising to 104% of 2019’s levels globally by December 31.

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Reservations Book Travel and Tourism Marketing 52

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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Book Reservations Accounting Marketing 104

Revenue Hub

JANUARY 10, 2023

To emphasize the short duration of the Annual Sale, hotels should establish a sense of urgency by including different elements to their websites, such as a countdown clock, a message indicating the number of people looking at the promotion, or the number of rooms left at a particular price, on a specific date.

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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

JANUARY 29, 2024

Sydney, Australia – A new report by SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, shows the global hotel industry has been primed for a new era of travel after rises in international hotel arrivals in 2023 triggered a wave of changes in travel behaviour.

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Modern Restaurant Management

SEPTEMBER 27, 2024

A 2023 study by Toast found that 30 percent of staff in the restaurant industry are at risk of leaving in the next two years, highlighting an equally concerning high turnover rate within this sector. From 2023, consumer spending has been steadily increasing and is set to continue into 2025. percent year-over-year, compared to 0.4

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Revenue Hub

OCTOBER 17, 2024

This is where last-minute deals shine, offering hotels a way to fill rooms faster, gain more exposure, and stay competitive on pricing. What are Last-Minute Deals Last-minute deals offer a powerful way to boost hotel bookings by capturing spontaneous, price-conscious travelers quickly.

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Book Pricing Catering Article 104

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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POS Systems Scheduling Training Reservations 141

Serviced Apartments

MARCH 23, 2023

USA: Red Roof will open 50 new properties in 2023, which will represent 60 per cent year-on-year growth. Red Roof plans to open 50 properties in new builds and conversions, in 2023. ” The post Red Roof will open 50 new properties in 2023 appeared first on Serviced Apartment News. .” per cent year over year.

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Reservations Pricing Marketing 52

Modern Restaurant Management

DECEMBER 19, 2022

So, whether you’re looking to open a new restaurant and bar or are responsible for ensuring your existing bar offerings stay up to date and relevant for your guests, let’s look at what trend-forward locations were doing in 2022 that can highlight opportunities heading into 2023. New and Unique Flavors. Pay Attention to Ice.

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