Modern Restaurant Management

JANUARY 20, 2025

These chefs might know how to source the finest ingredients, but no one’s taught them how to negotiate the price of those ingredients or keep suppliers from quietly eating away at their profits. Sales reps may come back with a price comparison guide that shows lower prices on specific items. Be wary of common tactics.

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Pricing Vendor Management Accounting Training 167

Hospitality Magazine

SEPTEMBER 15, 2024

FoodByUs, Australia’s largest online hospitality wholesale ordering platform, has launched a new feature, Price Tracking, designed to help the more than 90,000 independently owned Australian restaurants, cafes and caterers access real-time pricing visibility across all items and suppliers. The result?

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Pricing Download Menu Planning Catering 130

Revenue Hub

NOVEMBER 14, 2024

This helps create accountability, ensure consistency, and reduce errors. Pricing: What Rates Will You Charge? Pricing is one of the most important tasks of revenue management. If your property is priced too high, you will miss out on bookings. If it is priced too low, you will miss out on revenue.

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Pricing Scheduling Book Article 109

Revenue Hub

DECEMBER 5, 2024

Knowing where to list your hotel and the prices to charge can be tricky, especially for busy operators of small, independent properties. Here we explain the essentials of hotel distribution and pricing. In Europe, OTAs accounted for an incredible 76% of bookings, compared to 64% in Asia Pacific and 48% in North America.

Pricing 109

Pricing Book Article Reservations 109

Revenue Hub

APRIL 11, 2025

They became the go-to platforms for guests because they provided an easy way to compare prices and find the best deals. For hotels, OTAs provided exposure and bookings, but at a steep price. By 2016, OTAs accounted for nearly half of all online hotel bookings in the U.S.

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Book Pricing Article Reservations 101

Revenue Hub

MAY 21, 2024

While this is a significant part of our role, it’s easy to overlook the in-depth analysis that underpins each pricing decision to get to the sticker price. If you get too fixated on solely pricing, it can be very easy to lead your hotel astray and deliver sub-optimal revenue outcomes. A big event is announced.

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Pricing Article Book Accounting 109

Revenue Hub

JANUARY 24, 2025

Were talking about the kind of moves thatll have your competitors scratching their heads and your accountant doing a happy dance. Its about understanding that a hotel room isnt a static product with a fixed price tag. Its a dynamic asset that canand shouldfluctuate in price based on a whole slew of factors. Sounds simple, right?

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Pricing Article Marketing Book 108

Revenue Hub

OCTOBER 1, 2024

As a hotelier, one of the most critical aspects of revenue management is setting the right prices at the right times. This is where a seasonal pricing strategy comes into play. We explore what a seasonal pricing strategy is, why it’s essential, and how you can effectively implement it in your hotel.

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Pricing Special Events Article Book 109

Revenue Hub

SEPTEMBER 13, 2024

Open Pricing provides you with the ability to yield room types based on demand. NB: This is an article from Duetto Subscribe to our weekly newsletter and stay up to date All prices in a BAR concept are fixed modifiers off each other, either at a dollar mark or as a percentage discount.

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Pricing Accounting Article Marketing 102

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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Pricing Book Accounting Marketing 106

Revenue Hub

JANUARY 6, 2025

NetRevPAR takes the traditional RevPAR (Revenue per Available Room) metric a critical step further by accounting for all customer acquisition costssuch as distribution fees, marketing spend, and transaction charges. NetRevPAR: Moving Beyond Top-Line Revenue What it is ? High commissions or excessive discounting might erode net profits.

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Budgeting Guest Satisfaction Accounting Article 109

LimeTray

FEBRUARY 9, 2025

The article below explores key features of restaurant POS systems, comparing top options like ere4u and LimeTray, along with their pricing factors. This enables you to make informed decisions on the fly, such as adjusting your menu, changing prices, or maximizing staffing levels.

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Pricing POS Systems Server Scheduling 52

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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Pricing Marketing Book Accounting 113

Hotelogix

JANUARY 5, 2025

Shopping Ads: If you have special deals, you can show them with prices in search results. Hotel Ads: These show your hotel’s prices and info directly in Google Search and Maps. When someone searches for hotels, your ad shows up with your prices and photos. Make a Google Ads account if you don’t have one.

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Book Pricing Budgeting Demo 100

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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Pricing Accounting Communication Marketing 137

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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Pricing Article Accounting Training 108

Revenue Hub

APRIL 3, 2025

You dont need to be an accountant to use it. It gives you a clearer sense of whether your pricing, staffing, and other decisions are actually paying off. In the hotel industry, flow through is a key profitability metric. Its especially helpful in spotting cost issues that might not be obvious when youre focused on boosting bookings.

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Book Article Pricing Accounting 108

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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Pricing Article Accounting Information 109

Hotelogix

JANUARY 12, 2025

Integrate Your Rates and Inventory : Managing multiple OTA platforms manually can quickly become overwhelming, leading to errors like double bookings or inconsistent pricing. A Channel Manager is a tool that synchronizes your room availability, pricing, and inventory across all connected OTAs in real-time. 

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Book Pricing Marketing Events 130

Modern Restaurant Management

APRIL 22, 2024

The first is account takeover (ATO), which allows fraudsters to gain unauthorized access to accounts with stored funds, change the password, sell the account or use the account’s funds themselves. Fraudsters can also create multiple accounts and add funds to them using stolen payment methods.

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Accounting Training Pricing Magazine 204

7 Shifts

NOVEMBER 24, 2024

Aside from improving restaurant customer experience , market research also helps you make informed decisions about location, pricing, and marketing strategies. increase in average wholesale food prices compared to last year, you might want to update your pricing strategy. With the 4.5%

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Marketing Information Pricing Training 148

Hospitality Magazine

DECEMBER 1, 2024

Choose wines that complement the characteristics of the seafood dish, taking into account the type of seafood, cooking method, and accompanying sauces or side dishes. A successful food and wine pairing lies in the seamless integration of flavours. Wine and food matching is as much an adventure as it is a science.

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Budgeting Pricing Accounting Magazine 130

Revenue Hub

NOVEMBER 18, 2024

Consideration: They explore your website, reading about amenities, checking reviews, and comparing prices. Consider offering guest accounts where frequent visitors can save their details for quicker bookings in the future. Awareness: The customer discovers your hotel through online ads, social media, or travel websites.

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Book Reservations Article Accounting 109

Revenue Hub

NOVEMBER 29, 2024

Revenue Management ensures that pricing strategies align with market demand to optimize income. For example, heavily discounted group bookings might fill rooms but yield minimal profit after accounting for costs like utilities, staffing, and amenities.

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Strategic Planning Document Article Marketing 109

Modern Restaurant Management

FEBRUARY 16, 2022

Those who don’t are effectively lowering their prices. Understand if your prices are keeping pace with inflation and maintain a markup that matches the costs associated with paying suppliers and staff. How is inflation affecting food prices? Business owners should routinely track increased costs and adapt.

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Pricing Accounting Article Magazine 207

Revenue Hub

NOVEMBER 19, 2024

Myth 1: A Siloed System Is Business Intelligence In the hotel industry, it’s common to use separate systems for reservations, property management, customer relationship management (CRM), and accounting. Some hoteliers believe that the reporting capabilities within these individual systems equate to a comprehensive BI solution.

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Guest Satisfaction Reservations Information Article 108

Hotel Business

MARCH 27, 2025

M3 , a provider of accounting and financial solutions for the hospitality industry, has entered into a strategic alliance with Reeco , an AI-driven procure-to-pay platform in the hospitality industry. This alliance provides integrated services, integrated support and preferred pricing benefits to enhance the entire customer journey.

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Procurement Vendor Management Accounting Communication 59

EATER

DECEMBER 20, 2024

The family that runs the restaurant has ties to both Spain and Italy, the two nations that account for the biggest waves of immigration to Argentina in the countrys history. Italian descendants now outnumber Spanish ones, and are believed to account for at least half of the countrys total population.

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Pricing Accounting 109

Modern Restaurant Management

MARCH 15, 2024

Many processors offer different deals, technology, pricing and other unique options. Reasonable Pricing With hundreds of payment processors, if establishing reasonable pricing is a priority, it’s essential to work with a processor that is smooth, reliable and clearly outlines what fees are accounted for.

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Customer Service Pricing Accounting 197

Modern Restaurant Management

FEBRUARY 7, 2025

In 2025, the meaning of "value" to the dining consumer will extend beyond price to include a mix of experience, hospitality and affordability. To address this demand, restaurant operators must strike a balance between offering value-based pricing while ensuring cleanliness alongside a friendly, approachable staff.

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Definition Events Pricing Customer Service 113

Hotel Business

JANUARY 15, 2025

Its unified system integrates key functions such as procurement, inventory management, recipe tracking and accounts payable, enabling users to make purchases from any contracted vendor in just a few clicks. Over the past year, weve made massive leaps in modernizing purchasing, receiving, inventory audits and accounts payable.

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Procurement Back of House Accounting Vendor Management 59

InnQuest

NOVEMBER 30, 2022

Transparent Pricing: Easy-to-read statements, upfront pricing with no hidden fees. Subject per account. This is why we offer competitive pricing, without sacrificing quality or functionality in our software solutions. It is designed to be a one-stop solution for all your payment-related needs. Secure payment processing.

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Travel and Tourism Demo Pricing Accounting 217

Modern Restaurant Management

APRIL 10, 2024

Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. When prices for staple ingredients like chicken rose dramatically in 2023, restaurant operators were forced to increase their prices. Full-service menu prices climbed 4.5

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POS Systems Back Office Operations Pricing Budgeting 197

Modern Restaurant Management

OCTOBER 18, 2024

Technomic’s revised predictions for 2024 revealed a challenging road ahead for the restaurant industry, which has been plagued by rising prices and shifting consumer behavior since the onset of the pandemic. percent rise in prices means that sales growth may barely keep up with inflation. percent sales increase by 1.5

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Pricing Budgeting Accounting 88

Hotelogix

APRIL 11, 2025

This leads to multiple day-to-day challenges: Manual Errors: Disconnected or paper-based POS systems increase the likelihood of human errors, such as entering incorrect prices or missing charges. In fact, cloud-based POS solutions now account for 64% of new POS implementations in the hospitality sector in 2024, up from 51% in 2022.

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POS Systems Guest Satisfaction Housekeeping Travel and Tourism 130

Hotelogix

FEBRUARY 17, 2025

Metasearch Engines – Google Hotel Ads, Kayak and Trivago collect prices directly from OTAs and direct websites. Blockchain helps hotels reduce scams and makes pricing clear. Smart Reports: The program of smart reports gives helpful advice to hotels so they can choose the best prices and decide where to advertise their rooms.

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Book Pricing Marketing Accounting 100

Modern Restaurant Management

MARCH 12, 2024

To reduce menu confusion and minimize price sensitivity, Ori’Zaba’s Scratch Mexican Grill recently rolled-out a rengineered and easier-to-read menu. The Ori’Zaba team told Modern Restaurant Management (MRM) magazine they watched people walk in and have a physical reaction to the three pricing tiers. Double Your Meat!”

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Pricing Accounting Server Presentation 180