Revenue Hub

NOVEMBER 17, 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. So, we’re able to be more aspirational,” he said. That is absolutely critical.”

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Revenue Hub

AUGUST 30, 2024

While the budget depletion column is not one of your standard columns, it is recommended as a key custom metric to focus on when optimising your Google ads campaigns. It is a value that is measured in percentage and it helps you to see the rate at which your daily or campaign budget is being used up. What are the consequences of this?

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Modern Restaurant Management

NOVEMBER 19, 2020

The high levels of uncertainty surrounding the future of the COVID-19 pandemic highlight the importance for restaurants to rethink their approach to budgeting for 2021. Budgets were thoroughly reviewed, signed off on and then periodically updated every 30, 60, or 90 days. Budget No. Budget No. Budget No.

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Modern Restaurant Management

JULY 7, 2022

They accounted for more than 80 percent of all restaurant transactions during those days. It’s important to monitor and account for your “Invisible Guest” traffic so you can get a better handle on resource allocation. After all, delivery apps and take-away service were the true lifelines of lockdown. It can be done.

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Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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Serviced Apartments

OCTOBER 31, 2024

Reading Time: 7 minutes UK: UK Chancellor Rachel Reeves MP has delivered a Labour Budget for the first time in 14 years as the government warned of “difficult” decisions to “restore economic stability” and plug a £22 billion black hole in public finances that was estimated by the Office for Budget Responsibility [OBR].

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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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Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. Without a budget, you risk financial instability and inefficiency.

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SiteMinder

SEPTEMBER 10, 2023

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets. Here are the steps involved: 1.

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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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STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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Hospitality Net

AUGUST 30, 2023

For the last 20 years, The Peabody has relied on Aptech to automate its enterprise accounting processes. This month, the property will go live with Aptech’s budgeting and forecasting solution, Targetvue, to give its accounting team “one version of the truth.”

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Synergy Suite

JUNE 6, 2023

A powerful tool, restaurant accounting software can revolutionize the financial management of your food service establishment. What is Restaurant Accounting Software? Restaurant accounting software is a specialized software solution designed to manage financial and accounting tasks specific to the restaurant industry.

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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? HotStats reached out to global hotel leaders to find out.

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EATER

JANUARY 6, 2023

Spaghetti is the foundation of one of my favorite Budget Bytes recipes. Freelance-writer, no-savings-account, five-dollars-in-the-gas-tank type broke. Shutterstock. An ode to the internet’s best broke-friendly recipe blog Like many millennials, I spent much of my 20s broke.

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The Restaurant Times

AUGUST 5, 2022

Restaurant accounting is an integral part of operating modern-day restaurants and ensuring consistent growth in the business. Typical accounting methods have not been able to cope with the fast-changing demands of the restaurant business. Benefits Of Restaurant Accounting. Efficient Budgeting. Accounting Cycle.

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SiteMinder

MAY 12, 2023

What is hotel accounting? Hotel accounting is the process of recording and maintaining the financial records and performance of your hotel business. Good accounting makes the finances of your hotel easy to understand for management and other stakeholders – so they can make informed decisions. room sales).

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Travel Booster

MAY 10, 2023

Are you tired of spending countless hours tracking down transaction records, trying to reconcile accounts, and manually generating financial reports? But fear not, intrepid travel agency, because we’re here to help you navigate the choppy waters of accounting software. The List of Best Accounting Software for Travel Agencies: 1.

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Modern Restaurant Management

AUGUST 10, 2020

The Center on Budget and Policy Priorities estimates that state budget shortfalls will reach almost 10 percent in the current fiscal year and about 25 percent in fiscal year 2021. A good practice for restaurants is to move these trust fund monies into separate bank accounts. On July 13, the U.S.

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Xotels

AUGUST 15, 2022

How far are you with your targets, budget, and plan of attack for next year? Did you make your new hotel budget already or are you right in the middle? Or are you really putting your teeth into it and drilling down per segment, per channel, per account, and per day? I have to share with you a funny story to budgeting with you.

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Social Hospitality

MARCH 29, 2023

For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. Fortunately, small businesses can leverage many budget-friendly marketing ideas to get their message across without breaking the bank. But it’s a different story for small businesses.

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eHotelier

FEBRUARY 15, 2024

Invisible to guests at this AAA 4 Diamond oceanfront property is how efficiently the hotel’s finance team is operating thanks to the addition of two software solutions from Aptech: PVNG Enterprise Accounting and Targetvue Budgeting & Forecasting.

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Social Hospitality

MARCH 22, 2023

For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. Fortunately, small businesses can leverage many budget-friendly marketing ideas to get their message across without breaking the bank. But it’s a different story for small businesses.

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Modern Restaurant Management

OCTOBER 16, 2024

They will create multiple fake accounts in bulk and then sell them to those looking for a discount on food. When done on a large scale, this wastes the platform’s marketing budget and eventually leads them to cut down on promotions, slowing order volumes for restaurants. Promotion abuse can take other forms as well.

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Modern Restaurant Management

AUGUST 7, 2024

"Cutting a marketing budget creates a ripple effect that may not be felt until months down the road when the damage has already been done. " Cutting a marketing budget creates a ripple effect that may not be felt until months down the road when the damage has already been done.

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Modern Restaurant Management

JUNE 26, 2020

Many restaurants are looking at their 2020 budget and wondering – what now? It is time to adjust your 2020 budget, evaluate labor and food costs, update bank reconciliations and take an overall holistic look at your business model and strategy. Restaurants and bars are opening with capacity restrictions and new guidelines.

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Revenue Hub

MARCH 6, 2024

Starting March 11, Google Ads is implementing a new policy that’s all about boosting your campaign’s budget efficiency. Rollout Timeline: Completion across all Google Ads accounts by the end of April. Here’s why it’s important: Budget Optimization: Ensuring your ad spend goes to active, high-performing ad groups.

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Modern Restaurant Management

FEBRUARY 27, 2023

Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out. Use creativity to market a restaurant on a limited budget. Reviewing these numbers frequently can help to hold vendors accountable to the prices they are quoting.

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Revenue Hub

OCTOBER 31, 2024

Not only does this waste the budget, but it also damages the perception of your brand. The Masked Digital Marketer Nothing is more unsettling than feeling like the person managing your marketing budget is a ghost in the system. Ask yourself: has the person presenting your reports even stepped inside your campaigns?

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Modern Restaurant Management

APRIL 10, 2024

For example, operators can boost value perception and satisfaction by implementing a barbell strategy—appealing to budget-conscious consumers looking for affordable meals as well as giving high-end customers, who are willing to pay a premium, additional options to add on.

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Hospitality Net

FEBRUARY 13, 2024

Invisible to guests at this AAA 4 Diamond oceanfront property is how efficiently the hotel’s finance team is operating thanks to the addition of two software solutions from Aptech: PVNG Enterprise Accounting and Targetvue Budgeting & Forecasting.

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Modern Restaurant Management

MARCH 1, 2023

The best way to decrease food waste is to have accurate, up-to-date analysis, which means implementing a reliable restaurant accounting system. Also, BOH staff should establish a declining spending budget to account for weekly purchases and pinpoint how much budget remains for need-it-now food and ingredient purchases.

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Hotelogix

FEBRUARY 4, 2024

Accounting Managing your hotel's finances is essential, right? With hotel management software, you can streamline your accounting operations.    Accounts receivable: This feature allows you to manage your accounts receivable. Accounts payable: With this feature, you can manage your accounts payable.

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Hotel Business

JULY 18, 2024

This collaboration brings together Aptech’s cloud-based enterprise accounting and Birchstreet’s P2P software to deliver better control over purchase orders, invoicing, budgeting, order delivery, flexible payment options and more, according to the companies.

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Blue Magnet Interactive

FEBRUARY 11, 2020

Your property may even have an account on Instagram and Twitter. Social listening, when done effectively, can improve your social media account performance and enhance your entire marketing strategy as a whole. Active social listening can help your marketing team make educated decisions and allocate your budget more effectively.

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Hospitality Net

JULY 17, 2024

Based on customer demand, this collaboration brings together the best in cloud-based enterprise accounting and P2P software to deliver better control over purchase orders, invoicing, budgeting, order delivery, flexible payment options, invoice imaging, and financial review efficiency with drill down from P&L to invoice image.

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Hospitality Net

MARCH 13, 2024

With relationship building always top of mind, Aptech will be exhibiting at the 35th Annual Hunter Hotel Investment Conference to display its integrated enterprise accounting, business intelligence, and budgeting/forecasting software for hotels.

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