Modern Restaurant Management

DECEMBER 16, 2024

Budgeting Smart : Review your benefits costs and the financial impact of anticipated changes so you can set realistic financial expectations for 2025. Strengthen Recruitment and Retention Efforts The labor market remains highly competitive, making proactive recruitment and retention strategies top priorities.

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Modern Restaurant Management

MARCH 19, 2020

Any restaurant or F&B business can leverage this form of marketing to their benefit, it just requires a little know-how in the realm of digital networking. Any person with a social media account can be considered an influencer, so where should you begin? Find Bloggers in Your Niche. offer a gift voucher of $100).

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Modern Restaurant Management

JUNE 24, 2021

As a restaurant owner, digital marketing can be a daunting task that takes up valuable time, energy, and resources. Most simply do not have the time needed to research digital marketing strategies, let alone implement them. This often means marketing and advertising efforts are done on-the-fly or simply 86’d. A double win!

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Hospitality Net

SEPTEMBER 21, 2023

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.

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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.

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Revenue Hub

FEBRUARY 18, 2025

Without understanding which guest segments are most profitable, hotels target the wrong audiences, misallocate their marketing budgets, and miss critical opportunities to boost revenue and profit. Travel Agents: Can deliver niche market segments, particularly for specialized travel such as corporate or luxury tourism.

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Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

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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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7 Shifts

MAY 23, 2024

The restaurant business is one of the most competitive industries, and this shows in the fact that only 20% of restaurants succeed in the market. To help you survive and thrive, we've created a step-by-step and easy-to-follow restaurant budgeting guide. Table of Contents What is included in a restaurant budget?

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Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Plan for Gaps in Your Budget. That said, restaurants didn’t have COVID-19 written into their budget at the beginning of 2020.

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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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Revenue Hub

NOVEMBER 21, 2024

In this post, we’re going to uncover the hidden costs behind paid advertising for hotels, explain why your return on ad spend (ROAS) may be underwhelming, and explore the importance of attribution and transparency in your marketing strategy. This will give you a clearer picture of which channels are actually driving value.

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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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7 Shifts

OCTOBER 22, 2024

Let’s explore 26 proven online marketing strategies to help your restaurant thrive. Target location-specific searches for more visibility The ultimate goal of your online marketing campaigns should be to bring in local customers to your restaurant. To do so, you must have an optimized website and engaging social media profiles.

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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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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

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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EATER

NOVEMBER 22, 2024

And for those who (understandably) don’t want to give up the classy look and feel of traditional glass, many shatterproof options on the market now mimic it very well — including specialty glasses for craft beer and specific wine varietals. For something more lightweight and budget-friendly, go for acrylic, Deek says.

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7 Shifts

AUGUST 12, 2020

So far, 2020 has thrown marketing plans, advertising budgets, and restaurant growth out of the window. But as restaurants reopen and business starts to pick up again, it’s important you pick up your marketing plan too. Which is where your restaurant marketing plan comes in. What are they ordering?

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Modern Restaurant Management

MARCH 30, 2022

Restaurants are making use of workflow automation to increase efficiency in numerous ways inlcuding customer service automation and sales and marketing automation. Sales teams and marketers are deploying sales and marketing technology to automate the customers' journey and accelerate conversions. Improving customer service.

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Modern Restaurant Management

JULY 8, 2021

It’s no secret that the influencer marketing industry is booming with billions of dollars. Micro influencers are defined as accounts with 1,000 to 100,000 followers who are well known in their niches with a hyper-engaged audience. Micro influencers are a great marketing tool and resource for small restaurants.

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Accounting Marketing Budgeting 203

Horizon Hospitality

APRIL 15, 2024

User Generated Content (UGC), which is anything that a customer shares about a brand on social media, seems to be a marketing golden ticket for restaurants. It speaks to the public’s demand for authenticity and is budget friendly. PROS Low Financial Cost Online marketing has been dominated by cost-per-click advertising campaigns.

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Revenue Hub

JANUARY 13, 2023

Digital marketing in the hotel and hospitality industry is now crucial in order to get your hotel noticed by both new and existing customers. This then begs the question, what is hotel digital marketing? Simply put, it’s a term used to cover a number of marketing channels and methods utilised to promote your hotel online.

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7 Shifts

OCTOBER 28, 2024

Knowing how to calculate and optimize your customer acquisition cost (CAC) can help you make smarter decisions about your marketing and advertising strategies. CAC lets you get a clearer view of how your marketing efforts impact your bottom line. This way, you can attract the right customers at a lower cost.

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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

APRIL 4, 2023

With limited budgets and resources, it can be challenging to compete with larger hotels and chains that have a more extensive marketing budget and reach. For the less tech-savvy hotel owners, we would recommend hiring a digital marketing professional to review, recommend and implement the necessary changes to your website.

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Modern Restaurant Management

FEBRUARY 4, 2021

Provide Franchisees with an Adaptable Template and Budgeting Playbook. In a survey we conducted in early 2020 with franchisors, 80 percent said their biggest challenge in helping their franchisees improve their performance and drive profitability was a lack of a localized business and/or marketing plan.

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Modern Restaurant Management

APRIL 10, 2024

The restaurant equity market also showed signs of recovery, with healthy market debuts from Cava and Dutch Bros. Restaurant operators are also adjusting to new business realities by increasing wages and enhancing benefits to attract and retain employees in this competitive labor market. Coffee in 2023. Data from the U.S.

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7 Shifts

OCTOBER 22, 2019

Creating an Instagram marketing strategy for your restaurant is just a part of getting your business up and running. Instagram is influencing menu offerings, restaurant design, and marketing strategies. There are three main steps to creating a winning restaurant Instagram marketing strategy.

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7 Shifts

OCTOBER 9, 2019

That’s why digital marketing is so important. Read on to learn more about creative digital marketing ideas you can get started on today. If you have the budget for an awareness campaign, it’s a great way to create a good relationship with the community your restaurant is located in. Google My Business.

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Revenue Hub

NOVEMBER 15, 2023

In the realm of hotel marketing, Google Ads has become an indispensable tool for driving bookings and enhancing digital marketing for hotels. However, the key to unlocking its potential lies in choosing the appropriate bidding strategy, which can significantly shape your campaign’s success and budgeting.

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Marketing Budgeting Article Reservations 109

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.

Budgeting 59

Budgeting Maintenance Front Desk Operations Document 59

Revenue Hub

DECEMBER 15, 2022

Is your 2023 hotel marketing budget a little leaner than you’d like? Investing in your SEO (Search Engine Optimisation) – our research suggests that Gen Z and Millennials account for the highest percentages of organic traffic to a hotel website – but they don’t always convert as highly.

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Revenue Hub

OCTOBER 4, 2023

NB: This is an article from three&six , one of our Expert Partners Google Ads , a pivotal platform in the hotel marketing toolkit, provides a variety of attribution models to help hotels understand how their ads contribute to bookings. They illuminate the interactions and marketing channels that shape a guest’s path to booking.

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Modern Restaurant Management

DECEMBER 17, 2024

While built on cutting-edge technology, this is a simple solution for ensuring that every sales rep is equipped to effectively market to restaurant operators, with digital prospecting and proposal tools to help distributors expand their book of business.

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Revenue Hub

APRIL 17, 2024

Rapidly advancing technology and ever evolving guest expectations have given rise to the opportunity for substantial transformation in roles traditionally siloed into the areas of marketing and revenue management. At the same time, marketing existed at the brand level and largely in the form of printed ads, collateral, and consortiums.

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HotelREZ

JANUARY 28, 2025

The market is becoming increasingly competitive for independent accommodation providers, with large hotel chains quickly adapting and OTAs investing to capture travellers. Last year, the boutique hotel market was estimated to be worth USD$9,962.60 Standing out in the market Targeting Foreign Markets The world has changed since Covid.

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