Revenue Hub

DECEMBER 4, 2023

Modern revenue management solutions rely not just on historical data from a hotel’s property management system, but also on an array of market information and other data ranging from competitor rates to eating patterns. The incorporation of new data sources, such as POS, is critical in enabling more intelligent pricing choices.

Pricing 109

Pricing Special Events Accounting Article 109

Modern Restaurant Management

AUGUST 31, 2023

So, basically, you’re harping on your USP—which your customers love—to make your event a success. They may even promote these special events for free via word of mouth. Here are some ways: Ask your marketing and sales team. Strike a conversation with them if you see them at a local event.

Events 154

Events Marketing Accounting Special Events 154

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.

Information 203

Information Special Events Budgeting Marketing 203

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.

Pricing 109

Pricing Special Events Article Book 109

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.

Accounting 59

Accounting Information Blog Events 59

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.

Pricing 130

Pricing Download Book Budgeting 130

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.

Special Events 185

Special Events Article Events Customer Service 185

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).

Marketing 78

Marketing Catering Events Reservations 78

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.

Customer Service 148

Customer Service Marketing Scheduling Special Events 148

The Restaurant Times

SEPTEMBER 16, 2021

However, 11-years since its launch, the scope of Instagram has dramatically grown and well extended into marketing. There are ample business accounts on Instagram as of now looking for more opportunities and collaborations. . This article will highlight how you can leverage Instagram to ace restaurant marketing in the USA.

Marketing 52

Marketing Accounting Budgeting Special Events 52

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

Reservations 108

Reservations Special Events Communication Article 108

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.

Pricing 109

Pricing Reservations Training Article 109

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.

Special Events 64

Special Events Pricing Accounting Events 64

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.

Pricing 98

Pricing Book Budgeting Marketing 98

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.

Housekeeping 130

Housekeeping Book Information Guest Satisfaction 130

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.

Pricing 98

Pricing Book Reservations Events 98

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.

Special Events 97

Special Events Book Information Reservations 97

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.

Pricing 75

Pricing Book Article Events 75

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.

Special Events 96

Special Events Book Information Reservations 96

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.

Events 98

Events Special Events Accounting Presentation 98

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.

Reservations 96

Reservations Book Catering Special Events 96

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.

Pricing 167

Pricing Portion Control Budgeting Marketing 167

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.

Book 52

Book Pricing Reservations Accounting 52

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.

POS Systems 69

POS Systems Accounting Front of House Server 69

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!

Special Events 52

Special Events Events Information Marketing 52

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?

Pricing 59

Pricing Definition Book Marketing 59

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.

Competitive Analysis 59

Competitive Analysis Book Information Property Management 59

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.

POS Systems 52

POS Systems Information Bookkeeping Scheduling 52

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.

Events 52

Events Accounting Special Events Maintenance 52

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.

Scheduling 88

Scheduling Pricing Budgeting Information 88

EATER

FEBRUARY 14, 2025

both 38 Lawyer and marketing director Together for 12 years, married for seven years Denver What does date night mean for you? Mapp and Peter Hefti, 39 and 40 Freelance journalist and co-founder of Daylight San Diego ; accountant Together for 10 years, married for five years San Diego What does date night mean for you?

Reservations 70

Reservations Definition Budgeting Scheduling 70

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.

Events 52

Events Event Coordination Budgeting Customer Service 52

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.

Guest Services 52

Guest Services Definition Customer Service Concierge 52

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.

Front of House 52

Front of House Scheduling Communication Bookkeeping 52

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.

Regulatory Compliance 40

Regulatory Compliance Special Events Blog Workshop 40

LimeTray

FEBRUARY 18, 2025

Additionally, the global interactive kiosk market is set to reach 45.32 However, a common obstacle for restaurants is the difficulty in capturing and deploying customer data for personalized marketing. monthly or annually) to receive ongoing benefits such as exclusive discounts, free items, or access to special events.

POS Systems 52

POS Systems Events Special Events Marketing 52

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.

Training 52

Training Pricing Portion Control POS Systems 52