Modern Restaurant Management

SEPTEMBER 21, 2023

Here's how to create a business profile on Google My Business: Visit the Google My Business page and log in with your Google account. Post Regular Content : Google My Business allows regular posting of updates, special events, and promotions. Verify your business to confirm that you are the owner or manager.

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Revenue Hub

OCTOBER 1, 2024

A seasonal pricing strategy involves adjusting room rates based on the time of year, taking into account various factors such as demand, local events, holidays, and competition. Hotels often experience peaks and troughs in demand due to seasonal changes, such as holiday seasons, summer vacations, or special events in the area.

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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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Restaurant Engine

FEBRUARY 8, 2023

What’s more, you also know that social media marketing is vital in today’s digital world. This article examines why the best restaurants have these four social media accounts and how you can harness their power for your business. #1: You may also be trying to use multiple platforms.

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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. Do you need something for a special event? What you decide to get depends on your needs.

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Hotelogix

JULY 11, 2024

As an independent hotel owner, you understand the challenges of driving revenue in a competitive market. By leveraging data and market insights, revenue management allows you to make informed and data-driven decisions to drive sales, occupancy, profitability, and sustainable growth.

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Modern Restaurant Management

MAY 16, 2024

Each week, do at least the following: Update your business hours in case of special events, weather, or holidays so that customers don’t show up when you aren’t open. Post new menu items, offers, events, and any other updates you would post to a social media account.

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7 Shifts

JUNE 16, 2024

This is where being well-equipped with a fool-proof restaurant marketing plan comes in. After analyzing the latest industry trends, viral content, and successful campaigns, we have developed an all-in-one marketing guide to help you craft your strategy to attract new customers and keep your previous diners coming back. a boycott).

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7 Shifts

AUGUST 18, 2024

You'll have late nights and have to work on weekends and public holidays The market is saturated with loads of competition. This document will outline your bar's concept, menu, marketing strategy, and financial projections. This means your personal assets, such as your home or savings account, could be at risk if the business fails.

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Revenue Hub

JUNE 20, 2024

Or maybe that data rolls up to a group account across properties, but again, can it be leveraged for the next stay? Has your marketing manager ever tried to send a winter offer to ski season guests or wanted to target the drive market? Special events marketed to loyalty-tier guests within the drive market. “We

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Revenue Hub

SEPTEMBER 5, 2023

Leveraging historical data, market trends, and special events, hotels can predict periods of high and low demand. Overbooking Management While it might sound counterintuitive, overbooking is a common practice that takes into account the likelihood of cancellations and no-shows.

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Hotel Business

SEPTEMBER 15, 2023

There will likely be a special event or sudden period of high demand, so always look for those opportunities. Using external data about your market can assist here. This helps you understand if there is market compression or depression that your on-books have not yet reflected, giving you the heads up to course-correct.

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InnQuest

SEPTEMBER 13, 2022

Using chatbots on your website and social media accounts help you engage with customers while automating some of the more tedious parts of the sales process, like answering questions about rates or availability. It considers factors such as supply and demand, guest loyalty, market conditions, location, and the level of competition.

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SiteMinder

JULY 13, 2024

Revenue management revolves around measurement of what customers from different audience segments are willing to pay, as well as the ever-changing supply and demand within each market. The right distribution channels can have strong marketing power, putting your hotel in front of many customers you aren’t able to contact directly.

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SiteMinder

JUNE 12, 2024

By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. It’s a testament to how industries adapt, grow, and refine their strategies in response to changing market dynamics and customer expectations.

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Revenue Hub

JULY 11, 2023

An RMS applies sophisticated algorithms and machine learning to predict demand patterns and suggest optimal pricing, taking into account a variety of factors including historical data, competitor prices, and market trends. This could involve dynamic pricing, special promotional offers, or targeted marketing campaigns.

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Revenue Hub

OCTOBER 28, 2022

In this case, if Jane is traveling with her husband and their children, she may be interested in paying more for connected rooms, activities that apply to different ages, special events, and ancillary services that apply to families.

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The Restaurant Times

FEBRUARY 18, 2021

You cannot open any eating establishment without this license whether your business is home-based, a mobile van, a market stall or has its own location. If your restaurant only serves vegan food or the food you serve accounts for less than 25% of the complete products sold, you do not need to get this approval.

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Revenue Hub

AUGUST 22, 2023

In this case, if Jane is traveling with her husband and their children, she may be interested in paying more for connected rooms, activities that apply to different ages, special events, and ancillary services that apply to families.

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Special Events Book Information Reservations 93

Revenue Hub

OCTOBER 28, 2022

We all know the saying, “what gets measured gets done”, starting with charging the basics and identifying how these are posted, who is auditing, who is accountable, and how it is tracked. To cater to this market segment, hotels must think outside the box and develop unique events that enhance the group’s time together.

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Modern Restaurant Management

DECEMBER 21, 2022

More international brands will continue to enter the US market through delivery-only models. Collaborations : Collaborations, such as partnering with a well-known designer on staff uniforms or bringing in guest chefs for special events and pop-ups, will continue to capture consumer attention.

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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. Another 25 percent said they were investing in special events and one-off promotions, and 24 percent said they were prioritizing takeout and delivery operations.

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SiteMinder

OCTOBER 10, 2023

This forecast takes into account the total number of rooms in the hotel and subtracts the number of rooms that are expected to be occupied. Segment market Market segmentation involves categorising your target audience based on various criteria like demographics, booking channels, or purpose of visit.

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Lithos POS

SEPTEMBER 27, 2023

POS helps you to automate various business functions such as inventory, payments, accounting, customer, and employee operations. You can integrate the software with other software such as accounting, inventory, CRM, payment, and other food aggregators. So you can use the data for personalized marketing efforts.

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The Restaurant Times

MARCH 17, 2023

Restaurant marketing strategies help restaurant owners increase sales and profits. The problem, though, is that restaurant marketing strategies can take a lot of different shapes, and only some tactics will appeal to every customer. This is a fantastic on-site marketing strategy. Read along!

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SiteMinder

OCTOBER 15, 2023

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. Why is dynamic pricing important for a hotel?

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SiteMinder

OCTOBER 5, 2023

Expedia Partner: How to become one To join the Expedia Partner Central, you’ll first need to create an Expedia account. If you’re new, you’ll need to set up an Expedia Partner account first. This section lets you adjust room rates, offering flexibility in response to changing demand or special events.

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The Restaurant Times

JANUARY 18, 2023

assisting with marketing strategies such as, customer relationship management (CRM), . Design Marketing Campaigns: With the data, you’re learning about your customers. You can tailor marketing campaigns to what they’re ordering at what times, leading to more successful campaigns. Accounting System.

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The Restaurant Times

DECEMBER 3, 2021

If you are a pub owner and want to attract more customers to your business again, you must come up with out-of-the-box ideas and establish a good marketing tool. Marketing is never simple, but it’s significantly more difficult in a crowded market. One way to attract more and more customers is through launching events.

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7 Shifts

NOVEMBER 9, 2022

When done right, email marketing works wonders—you stay top of mind and increase order values. of customers make a monthly purchase based on marketing emails. But what makes email newsletters such an effective marketing strategy for restaurants? Email newsletters are often the first marketing medium to break the news.

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7 Shifts

JULY 20, 2024

or 70% This means that the restaurant's prime costs account for 70% of its total sales. Having a positive cash flow lets you invest in things like new equipment, marketing, or even opening a new location. A budget template lets you allocate funds for different operational costs, from food and labor to marketing and utilities.

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Les Roches

DECEMBER 27, 2023

It can make a meaningful difference in the lives of countless guests and businesses can also maintain a competitive edge in the ever-competitive hospitality and customer service market. They may also help customers with membership sign-ups and renewals.

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Les Roches

MAY 9, 2023

Budgeting and financial planning: An event budget will help ensure that you stick to your spending plan and that all expenses are accounted for. Venue selection: This is one of the most important elements for a successful event. A virtual event can be considered to cut down costs. This list is not exhaustive.

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Lithos POS

DECEMBER 19, 2023

He acts as an accountant, overseeing invoices, payroll, profit and loss statements, and tax records. His duties include executing marketing strategies, recruitment, and hiring, ensuring food quality, staff training, and maintaining effective communication between the administrative team, kitchen staff, and front-of-house employees.

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eZee Absolute

JUNE 27, 2024

NFTs can represent exclusive memberships offering perks like priority access, room upgrades, or invitations to special events. NFTs can be used as tickets to special events, such as private concerts, culinary experiences, or art exhibitions in the hotel. In simple words, NFTs are hotel loyalty programs but with a twist.

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MBB Hospitality

NOVEMBER 15, 2023

Additionally, exploring local markets and seasonal products can yield fresher ingredients at lower costs due to reduced transportation expenses. When engineering your menu, consider the contribution margin of each item—that is, the actual dollar amount each dish contributes to overhead after accounting for food costs.

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Synergy Suite

OCTOBER 12, 2023

Gross profit margin is a fundamental financial metric that reveals the percentage of revenue left after accounting for the cost of goods sold (COGS). These metrics go beyond merely counting revenue and expenses; they reveal the core profitability of the business, while accounting for various financial components.

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