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 98

Budgeting Article 98

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.

Budgeting 88

Budgeting 88

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 104

Budgeting Housekeeping Pricing Article 104

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 97

Budgeting 97

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.

Budgeting 130

Budgeting Pricing Presentation Marketing 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 98

Budgeting 98

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.

Budgeting 130

Budgeting Presentation 130

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.

Housekeeping 130

Housekeeping Budgeting 130

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.

Budgeting 108

Budgeting Strategic Planning Article Accounting 108

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 104

Budgeting Marketing Customer Service Article 104

eHotelier

MAY 30, 2024

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

Budgeting 130

Budgeting Marketing 130

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”.

Budgeting 105

Budgeting Pricing 105

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.

Pricing 162

Pricing Budgeting Marketing 162

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.

Budgeting 120

Budgeting Information 120

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!

Budgeting 106

Budgeting Accounting Pricing Article 106

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.

Book 130

Book Budgeting Property Management 130

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

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.

Budgeting 118

Budgeting Pricing 118

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 75

Budgeting 75

Modern Restaurant Management

JANUARY 3, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. We will rely heavily on the travel industry in 2024 to continue bringing us customers from local cities like Philadelphia, DC, Baltimore, New York, NJ, etc.

Pricing 132

Pricing Marketing Catering Front of House 132

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.

Budgeting 98

Budgeting Scheduling 98

Revenue Hub

JANUARY 18, 2024

As we dive into 2024, the buzzword is ‘personalisation’, stretching across both digital and physical realms. As a result, video will continue to be the top content marketing tool for hotel marketers in 2024. Luckily, you can create impactful videos even with a small team or budget.

Marketing 109

Marketing Budgeting Article Book 109

Hotel Management Network

OCTOBER 31, 2024

The post Hospitality industry’s response to the 2024 Autumn Budget appeared first on Hotel Management Network. Disappointed by the Chancellor's announcements, industry leaders demand urgent action for the sector's survival.

Budgeting 52

Budgeting 52

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.

Budgeting 96

Budgeting Back of House 96

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

Hotel Management Network

OCTOBER 29, 2024

The post Autumn Budget 2024 predictions: What hospitality experts are saying appeared first on Hotel Management Network. Experts predict a focus on tax reforms, support for smaller businesses, and investments in sustainability and workforce training.

Budgeting 52

Budgeting Training 52

Hospitality Net

FEBRUARY 5, 2024

In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. Group business is back in a big way. In-person events are returning to their pre-COVID normal pace.

Budgeting 97

Budgeting Events 97

Revenue Hub

OCTOBER 31, 2023

NB: This is an article from GBTA But even as business travel has rebounded, the industry is looking ahead at key areas poised for change and impact in 2024, with an emphasis around travel cost management strategies, sustainability, the transformation of retailing models, and the integration of emerging technologies.

Budgeting 108

Budgeting Book Article Information 108

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.

Article 108

Article Budgeting Marketing Book 108

Modern Restaurant Management

DECEMBER 27, 2023

restaurant industry will continue to shake off the aftereffects of the pandemic in 2024, but that doesn’t mean the challenges that remain are easily dispelled. It’s a continuing problem into 2024 for establishments that serve, making it critical to have adequate liquor liability insurance.

Front of House 117

Front of House Training Document Server 117

Hotel Business

OCTOBER 19, 2023

As 2023 enters its final months and 2024 optimistically appears on the horizon, numbness and detachment loom as a result of the perma-crisis, including increased cost-of-living and climate change concerns. People around the world have emotionally checked out of the news agenda and events at home in order to take a much-needed breather.

Travel and Tourism 114

Travel and Tourism Concierge Book Events 114

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.

Book 130

Book Pricing Demo 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

Modern Restaurant Management

JUNE 28, 2024

The ACSI Restaurant and Food Delivery Study 2024 is based on 14,604 completed surveys. Customers were chosen at random and contacted via email between April 2023 and March 2024 for the restaurant industries and between November 2023 and March 2024 for food delivery.

Pricing 117

Pricing Budgeting Marketing Maintenance 117

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 78

Budgeting 78

Soft Inn

MARCH 18, 2024

As announced in Malaysia's 2024 Financial Budget, e-invoicing will be implemented in three different stages impacting varying turnover or revenue thresholds, offering significant advantages for Malaysian hotels.

Budgeting 147

Budgeting 147

Revenue Hub

JANUARY 17, 2024

As the hospitality industry gears up for a transformative year in 2024, hoteliers face an exciting challenge – how to capitalise on emerging trends to boost bookings and revenue in the first two quarters. By utilising data effectively, hotels can optimise advertising budgets and drive bookings with a higher conversion rate.

Book 109

Book Pricing Article Marketing 109