Modern Restaurant Management

NOVEMBER 15, 2022

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

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Modern Restaurant Management

OCTOBER 7, 2020

As a business owner or franchisee in the restaurant industry, accounting can be one of the biggest headaches you face. Even for the most seasoned, well-rounded restaurateurs, restaurant accounting is often a complex and intimidating new world. Shouldn’t your accounting be, too? Cloud Computing and Automation.

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STAAH

JULY 23, 2024

In the ever-evolving landscape of the hotel industry, finding the right pricing strategy can significantly impact your business’s success. One approach that has gained traction among savvy hotel owners and managers is dynamic pricing. But what exactly is dynamic pricing?

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Revenue Hub

APRIL 24, 2024

Efficient hotel pricing strategy is a must-have for today’s hoteliers to increase their overall profitability. Hotel revenue managers should understand various aspects including distribution mix, demand forecast, competition pricing and consumers’ buying trends, etc. to manage pricing more effectively and to increase hotel profit.

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Revenue Hub

FEBRUARY 20, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Your property should have a tailored pricing strategy that fits its unique needs, but there are common industry practices that can be honed to compliment your business and improve performance.

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Revenue Hub

MARCH 11, 2024

Cost-based pricing is the easiest and most financially secure way of determining prices. NB: This is an article from Mews Subscribe to our weekly newsletter and stay up to date A cost-plus strategy puts a profit margin on top of your prices, which should be your go-to strategy during times of regular demand.

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Hospitality Magazine

FEBRUARY 21, 2024

You want your venue to go the distance — here are some tips to kickstart your marketing strategy this year. If you’re working with a PR agency, put together a list of publications you’d like to be featured in and have an account manager pitch to editorial teams with information about your venue as well as an invitation to come in.

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Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. How can you maintain (and even grow) ADR and occupancy in a softening market?

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Revenue Hub

AUGUST 27, 2024

Many hotels share a similar struggle when it comes to breaking silos and collaborating effectively between revenue management and marketing. Both roles rely on data such as demand patterns, booking behavior, guest data such as feeder markets and demographics to shape their decision-making and capture revenue opportunities.

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Modern Restaurant Management

OCTOBER 23, 2023

With the fierce competition in the food industry, a well-thought-out pre-launch marketing strategy is crucial to ensure your restaurant gets the attention it deserves. Mobile devices accounted for over 55 percent of global website traffic this year; a figure that is expected to continue growing.

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Modern Restaurant Management

OCTOBER 8, 2020

Production lines then turned these greens into fresh cut salads, which captured the market share with a near 80 percent take. These two states account for over 98 percent of the lettuce produced in the U.S, Any weather-related issues can have a dramatic effect on supply and prices as lettuce transitions from one area to the next.

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Revenue Hub

JUNE 7, 2024

To be effective, your luxury hotel marketing strategy must tell a story that shows your customers what sets you apart and makes the experiences you offer unique. Harness the power of storytelling In a luxury market where everyone offers fantastic service and incredible facilities, how do you communicate in a way that sets your hotel apart?

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Revenue Hub

MAY 23, 2023

NB: This is an article from Userguest , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Data Analytics and Revenue Management The rise of big data analytics has allowed hotels to collect and analyze vast amounts of data about customer behaviour and market trends.

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Modern Restaurant Management

OCTOBER 1, 2022

Restaurant marketing revolves around making your business known. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times.

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7 Shifts

MAY 31, 2024

Let’s be honest - you’re a restaurant operator, not a marketing expert. However, with so much software on the market today, how do you know what to use and where to start? To help you out, we've listed some of the most used tools that even beginners in digital marketing can easily navigate.

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Modern Restaurant Management

AUGUST 2, 2024

As the landscape changes, 39 percent of leaders said they’re prioritizing investments in sales, marketing, and related technologies for the rest of 2024. As a result, they are making hard decisions to adjust prices and make menu changes. LTO Impact A new Placer.ai

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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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EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. Pricing can be based on cost, competition, or demand. It’s also about adapting your rates to market fluctuations so that you offer the right price, to the right guest, at the right time.

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Revenue Hub

FEBRUARY 15, 2023

Attribute-based pricing is becoming an increasingly popular pricing model in the hotel industry. Subscribe to our weekly newsletter and stay up to date In this post, we are going to discuss what attribute-based pricing is, and how using an efficient rate structure can help you boost your overall revenue and profits.

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Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. You know that offering your customers specials is a terrific marketing tool. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The menu price.

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Les Roches

JANUARY 12, 2024

Pricing strategies are an essential part of commercial activity. Entrepreneurs, marketing strategists, and a whole host of other roles in practically every industry require a thorough knowledge of how to set pricing. It goe­s beyond simply assigning a random price and require­s strategic thinking and careful analysis.

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Modern Restaurant Management

FEBRUARY 25, 2022

To stand out and get more customers means focusing more on marketing. It’s easy to say you need to work harder on your marketing strategies, but aside from the vague generalizations that are all too common, how do you ensure those strategies are practical? Marketing with Your Customers. The Importance of Instagram.

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Les Roches

JANUARY 17, 2024

Strategic decisions about menu design, customer de­mographics, and pricing strategies also play critical roles. By unde­rstanding effective pricing strate­gies, restaurants can achieve a sustainable balance betwe­en profitability and memorable customer experience. Bachelor in Hospitality Management.

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SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

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Restaurant Engine

OCTOBER 16, 2024

Create a plan and a marketing strategy for your grand opening. This article takes a look at seven brilliant ideas for restaurant grand opening marketing. This article takes a look at seven brilliant ideas for restaurant grand opening marketing. Think outside the box and get creative for your grand opening marketing. #4:

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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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Revenue Hub

NOVEMBER 24, 2022

Hotel Marketing is only effective if the execution is done right. The core of a good hotel marketing strategy is to promote the right product in the right place , at the right price , and at the right time to the right audience. A planned approach to marketing helps you to set clear objective s.

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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. Key Restaurant Accounting Metrics. Labor Costs

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eZee Absolute

SEPTEMBER 11, 2023

Arjun was a hotelier now and I, knowing how difficult it was to make money in today’s market, joked about how his childhood dream of getting rich was now out of the question. Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret.

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Revenue Hub

NOVEMBER 22, 2023

Hotel marketing automation is growing in popularity, as hotel marketers are continually pressured to adapt to the evolving digital marketing landscape. Whether it’s the emerging AI revolution or shifting content preferences on social media, there is never a shortage of new marketing strategies at your disposal.

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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. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. Full-service menu prices climbed 4.5 Coffee in 2023. Data from the U.S.

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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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STAAH

MARCH 19, 2023

Philippines-based Royale Paragon Hospitality Group is a hospitality marketing management company looking into multiple boutique properties across the country, including A’s Guest House, Vivien’s Hotel, and Felicity Island Hotel in Lapu-Lapu City. As the updates are in real-time across all channels, rate parity issues are no longer a concern.

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Revenue Hub

MARCH 1, 2023

Social media marketing is the promotion of a business using social media, the main aim being to promote engagement from a specific target audience in order to build awareness and encourage explicit business-related conversions and goals. Subscribe to our weekly newsletter and stay up to date What does social media marketing include?

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Hotelogix

JULY 11, 2024

As an independent hotel owner, you understand the challenges of driving revenue in a competitive market. From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Maximized revenue: By optimizing pricing and inventory, you can boost overall revenue of your hotel. 

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STAAH

NOVEMBER 22, 2022

Hotel Marketing is only effective if the execution is done right. The core of a good hotel marketing strategy is to promote the right product in the right place , at the right price , and at the right time to the right audience. A planned approach to marketing helps you to set clear objective s. Find out more here.

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