Revenue Hub

SEPTEMBER 18, 2024

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

Budgeting 93

Budgeting Housekeeping Pricing Article 93

Hospitality Net

NOVEMBER 8, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times.

Budgeting 92

Budgeting Article 92

Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? We are looking at the momentum continuing in 2024.”

Budgeting 101

Budgeting Travel and Tourism Pricing Article 101

Soft Inn

AUGUST 21, 2024

In 2024, with rising guest expectations and evolving industry standards, maintaining a welcoming environment is becoming more critical than ever. Whether you are running a budget hotel, boutique hotel, or a large resort, a well-structured housekeeping checklist ensures that every guest enjoys a comfortable stay.

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Housekeeping Budgeting 130

Hospitality Net

SEPTEMBER 5, 2023

As the hotel industry prepares for its annual budget planning for 2024, we’re at a critical moment where technology and financial strategy blend together. This goes beyond simply setting aside funds for new digital tools; it’s about fully integrating technology into our financial and operational plans.

Budgeting 94

Budgeting 94

Hospitality Net

SEPTEMBER 20, 2023

Budgeting effectively is a challenge at the best of times, but hoteliers looking to set their 2024 budgets have to do so amid lingering uncertainty across the travel industry.

Budgeting 85

Budgeting 85

Hospitality Net

OCTOBER 19, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. What unique challenges are hotels facing in the 2024 budgeting and planning process? HotStats reached out to global hospitality leaders to find out.

Budgeting 84

Budgeting 84

Hospitality Net

FEBRUARY 12, 2024

As hospitality businesses navigate a “new normal” in 2024, many of the top owners and operators have shifted focus from traditional annual budgeting to a more dynamic and responsive forecasting approach. Let’s explore key budget and forecasting strategies to guide you in 2024.

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Budgeting 67

Boutique Hotel News

MARCH 15, 2023

UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. Contents of the Budget which affect hospitality includes: • From August, alcohol taxes on wines will rise by up to 50p a bottle but the duty charged on draught beer will be up to 11p lower than the duty in supermarkets. • million) will be abolished.

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Budgeting Pricing Presentation Marketing 130

Serviced Apartments

MARCH 6, 2024

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

Budgeting 52

Budgeting Travel and Tourism Catering Pricing 52

Hospitality Net

MAY 31, 2024

International hotel brands will continue to pour into Spain, according to Global Asset Solution’s Spanish Hotel Market Outlook 2024. The company said that it expected to see budget brands join the swelling numbers of luxury flags as both domestic and international tourism grew.

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Budgeting Marketing 52

Hotel Owner

OCTOBER 11, 2023

The Irish Hotels Federation (IHF) has expressed “deep disappointment” with the lack of measures in Budget 2024 to address the soaring costs of doing business for tourism and hospitality, Ireland’s largest indigenous employer. A fundamental restructuring of employers’ PRSI is now essential for our sector.

Budgeting 52

Budgeting 52

Lodging Magazine

NOVEMBER 5, 2024

My hotel is currently operating on a very tight budget, and I am struggling to get necessary system upgrades approved to ensure proper security measures are being met. Whether you’re managing a hotel or any […] The post Ask Anthony: Getting System Upgrades Approved on a Tight Budget appeared first on LODGING Magazine.

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Budgeting Magazine 68

Soft Inn

DECEMBER 28, 2023

In response to the recent announcement in Malaysia's Budget 2024 presented in Parliament, a significant development is on the horizon that may cast a substantial impact on the hotel industry. There is a proposed increase in the Sales & Services Tax (SST) from the current 6% to 8% which might take effect from 1st March 2024.

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Budgeting Presentation 130

Revenue Hub

NOVEMBER 8, 2023

As we enter the fourth quarter of the year, hotel marketers should outline their goals for 2024. NB: This is an article from Travelboom Hoteliers understand the importance of budget season, but often dread dealing with the details. Some may not even know where to begin. SWOT Analysis for Hotels Do you have a hotel SWOT analysis?

Budgeting 92

Budgeting Marketing Customer Service Article 92

Hospitality Net

NOVEMBER 6, 2024

2024 marks a tipping point for the hospitality industry - it’s the year in which we witnessed a pivotal transformation where data has all but surpassed even dollars as the primary currency. It empowers informed decision-making, elevates operational efficiency, and guides budget plans.

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Budgeting Information 95

Revenue Hub

NOVEMBER 3, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. Are there ways to make the 2024 budgeting process more streamlined and efficient? Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year.

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Budgeting Strategic Planning Article Accounting 94

eHotelier

MAY 30, 2024

International hotel brands will continue to pour into Spain, according to Global Asset Solution’s Spanish Hotel Market Outlook 2024.

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Budgeting Marketing 130

Hospitality Net

JANUARY 10, 2024

Hilton’s recent Trends Report, surveying over 10,000 globetrotters, reveals that 2024 is shaping up to be a year when wanderlust takes center stage. A whopping 64% of travel enthusiasts are reshaping their budgets, cutting back on other expenses to fuel their globetrotting desires. Ready to pack your bags and dive into new adventures?

Budgeting 68

Budgeting 68

Hotel Owner

MARCH 15, 2023

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. As part of the budget no further changes were announced on VAT, income tax or National Insurance levels. in 2024 but warned the government must remain “vigilant”.

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Budgeting Pricing 105

Hotel Owner

FEBRUARY 29, 2024

Hospitality CEOs from groups including Mitchells and Butlers, Accor Hotels, Stonegate Pubs and Crerar Hotels have signed an open letter urging the Chancellor to take immediate action at the budget to prevent further business failure.

Budgeting 98

Budgeting 98

Blue Magnet Interactive

OCTOBER 27, 2023

The landscape of the hotel industry in 2024 is evolving rapidly, with an unmistakable tilt towards the digital sphere. This article unravels the significance of each component of a well-balanced 2024 Hotel Marketing Budget and offers insights into how you can invest wisely. Versatility: Digital marketing is diverse.

Budgeting 52

Budgeting Marketing Blog Book 52

Hospitality Net

OCTOBER 31, 2023

We face a transformative period as we enter budget planning for 2024. While the process remains, the focus and strategies are evolving. The HSMAI Sales Advisory Board recently met to dig into the best practices.

Budgeting 40

Budgeting 40

HotStats

NOVEMBER 2, 2023

Are there ways to make the 2024 budgeting process more streamlined and efficient? For insights and advice, HotStats reached out to leading hospitality experts around the world.

Budgeting 52

Budgeting Blog 52

eHotelier

FEBRUARY 13, 2024

According to the 2024 Lodging Technology Study, 100% of survey respondents (hotel professionals representing more than 10,000 properties worldwide, including luxury, upscale, midscale, and economy brands) say their IT budgets will increase or hold steady this year.

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Book Budgeting Property Management 130

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. Subscribe to our weekly newsletter and stay up to date In this guide, we’ll break down everything you need to know about budgeting with revenue best practices in mind. You’ll need to address problem areas in your 2024 hotel budget. Let’s dive in!

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Budgeting Accounting Pricing Article 88

Hotel Owner

NOVEMBER 7, 2023

AGO Hotels has called for the government to “protect businesses from economic fragility and demonstrate commitment to the hospitality industry, a huge contributor to the UK economy”, ahead of the Autumn Budget. As such it would like to see the Energy Bill Discount Scheme extended for a further period.

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Budgeting Scheduling 98

Hotelogix

SEPTEMBER 16, 2024

In 2024, online travel agencies are still an important part of how hotels get bookings. Agoda – Popular in Asia, Agoda lists hotels, hostels, and vacation rentals, making it great for budget and luxury travelers.   This blog will explain OTAs, how they work, and why they're essential for hotels.

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Book Pricing Demo Marketing 130

Hospitality Net

JUNE 20, 2024

According to an IPSOS report commissioned by Hyatt[1], two thirds (65%) of European and Middle Eastern travellers plan to maintain or increase their travel budgets this year.

Budgeting 45

Budgeting 45

Hotel Business

JANUARY 29, 2024

Hotels are projected to pay a record amount of wages and generate a record level of tax revenue in 2024, according to the American Hotel & Lodging Association’s 2024 State of the Hotel Industry report. billion in state and local tax revenue in 2024, up from nearly $52.4 in 2024—up from the 62.9% billion in 2019.

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Budgeting Pricing 118

Modern Restaurant Management

JANUARY 30, 2024

So, what can the QSR industry expect in 2024? As consumers continued to watch spending during the holiday-laden end of the year, QSRs remained a budget-friendly way for guests to enjoy dining out without overspending. Looking back at last quarter’s performance suggests the glass is proverbially half full. percent.

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Pricing Budgeting Marketing 162

Hospitality Net

NOVEMBER 2, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. This year, with persistent inflation, added pressures on cost control, and uncertainty about the economy, the process is as fraught as ever.

Budgeting 66

Budgeting 66

Hotel Owner

JANUARY 2, 2024

UKHospitality has unveiled a three-point plan which it will focus on in 2024 to put hospitality at the “front and centre of policy making” ahead of the next General Election. The government has also confirmed that chancellor Jeremy Hunt will deliver his Spring budget on 6 March 2024.

Budgeting 94

Budgeting Pricing 94

Hospitality Net

JUNE 28, 2024

Motel 6, a name synonymous with affordable lodging, has again been voted the "Best Budget-Friendly Hotel Brand" in the annual USA TODAY 10Best Readers’ Choice Awards for 2024.

Budgeting 40

Budgeting 40

Hotelogix

SEPTEMBER 6, 2024

  Now let's examine a few upcoming hotel trade events that you have to go to in the last few months of 2024. • How much is your budget for the event? Look for new company ventures, growth prospects, and alliances.  • Will your target customer base be there? • Who is the potential to follow up with?

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Events Event Coordination Presentation Demo 130

Hospitality Net

OCTOBER 12, 2023

Hoteliers know that guest experiences drive revenue. In recent years, leading hoteliers have responded to the pressure to leverage data to deliver more personalised, streamlined stays for their guests.

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Budgeting Back of House 82

Revenue Hub

AUGUST 22, 2024

With increasing competition and more companies fighting for your guests’ wallets in 2024, planning your Black Friday strategy early is key to having a successful weekend (or week) once November rolls around. Read the full article at gcommerce The post 4 Tips to Win Black Friday in 2024 appeared first on Revenue Hub.

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Article Budgeting Marketing Book 93