Revenue Hub

NOVEMBER 13, 2023

NB: This is an article from Global Asset Solutions This is no less true for budget season, although for many in the hotel sector, it can also come with a sense of foreboding. It will allow the Executive Team to build a budget with the ownership’s goal in mind. To have the budget approved by the ownership group straight away.

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Budgeting Guest Satisfaction Strategic Planning Presentation 85

Revenue Hub

NOVEMBER 14, 2023

In the second of our series on the budget approval process, we are looking at specific areas to look at which can ease the approval process and ensure a more accurate budget and a profitable following year. On the other hand, if you budget for additional occupancy, you will need to book for higher maids.

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Budgeting Events Article Presentation 88

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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Budgeting Revenue Projections Article Maintenance 93

Revenue Hub

NOVEMBER 3, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. NB: This is an article from HotStats This year, with persistent inflation, added pressures on cost control, and uncertainty about the economy, the process is as fraught as ever. We generally try to start this around May or June.

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Budgeting Strategic Planning Article Accounting 92

Revenue Hub

SEPTEMBER 18, 2024

As a hotelier, you’re always looking for ways to attract more guests, boost bookings, and get the most out of your marketing budget. With endless options for online advertising, deciding where to focus your efforts and budget can feel overwhelming. Should you invest in Google Ads, social media, or else?

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Budgeting Marketing Article Special Events 94

Revenue Hub

NOVEMBER 8, 2023

NB: This is an article from Travelboom Hoteliers understand the importance of budget season, but often dread dealing with the details. Other: What other campaigns are you running that you can measure, and ultimately improve by increasing or decreasing budget in 2024? Some may not even know where to begin.

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Budgeting Marketing Customer Service Article 90

Revenue Hub

SEPTEMBER 16, 2024

Traditional budgeting has long been the standard for financial control in the hotel industry, but these budgets become irrelevant far too quickly. Unlike static budgets, which are set once a year and quickly become outdated, rolling forecasts are updated monthly, allowing hotels to react to changes.

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Budgeting Scheduling Article Marketing 76

Revenue Hub

SEPTEMBER 27, 2023

NB: This is an article from Fairmas One powerful approach that has been gaining momentum is “Zero-Based Budgeting” (ZBB). In this blog, we’ll dive into the concept of Zero-Based Budgeting and how it can reshape the financial landscape of hotels. Implementing Zero-Based Budgeting 1. Benefits for Hotels 1.

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Budgeting Guest Satisfaction Article Blog 80

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. NB: This is an article from Up Hotel Agency Subscribe to our weekly newsletter and stay up to date What data does it represent? What are the consequences of this?

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Budgeting Scheduling Article Accounting 81

Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. NB: This is an article from Travelboom What can the hotelier do to help soothe those pain points? Hoteliers must set their rates in ways that appeal to the budget-conscious traveler.

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Budgeting Pricing Article Catering 81

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Don’t worry, we’ve got you covered! Let’s dive in!

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Budgeting Accounting Pricing Article 85

Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? HotStats reached out to global hotel leaders to find out.

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Budgeting Travel and Tourism Pricing Article 99

Revenue Hub

OCTOBER 2, 2023

NB: This is an article from Demand Calendar Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets. Let’s start with the steps in budgeting for hotels. Is budgeting critical in hotels? This process is meticulous and time-consuming.

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Budgeting Information Article Events 82

Revenue Hub

JULY 25, 2023

NB: This is an article from Triptease , one of our Expert Partners But getting it right requires hoteliers to budget and manage costs effectively. In this blog, we’ll explore essential steps to help hoteliers optimize costs and budgets in their advertising campaigns.

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Budgeting Strategic Planning Article Blog 77

Revenue Hub

OCTOBER 9, 2024

As budget season draws near, selecting the right Revenue Management System (RMS) becomes one of the most crucial choices for hoteliers. Read the full article at Atomize The post Choosing the Right RMS: Key Considerations for Budget Season appeared first on Revenue Hub. Typical User: Owner, GM, Front Office Staff.

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Budgeting Pricing Article Marketing 78

Modern Restaurant Management

DECEMBER 29, 2021

Many are focused on their immediate needs, such as keeping their clients happy, staying within budgets, and addressing daily challenges. However, you need to provide thought leadership quotes and articles to get into mainstream media. Yet, often, companies are busy working IN their business rather than ON their business.

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Communication Article Budgeting Marketing 221

Modern Restaurant Management

AUGUST 18, 2021

In this article, we discuss the following: What Equipment Does a Commercial Kitchen Need? Your budget. Stick to a Budget and Purchase What You Need : While purchasing commercial equipment, there is a high chance of overshooting your budget. Factors to Consider When Purchasing New Equipment. Your proposed food menu.

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Budgeting Blog Article Pricing 180

Revenue Hub

MARCH 6, 2024

Starting March 11, Google Ads is implementing a new policy that’s all about boosting your campaign’s budget efficiency. Here’s why it’s important: Budget Optimization: Ensuring your ad spend goes to active, high-performing ad groups. Campaign Quality: Removing low-activity ad groups can improve the overall quality of your campaigns.

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Budgeting Accounting Article Marketing 102

Hospitality Net

MAY 12, 2024

My friend Sterling Hawkins just wrote a great article about the tension between the leadership of a company and the salesforce. The sales team wants more time and budget, and the leadership wants more sales. Hawkins reports the president of a Fortune 500 company told him, Tension between the salesforce and leadership is normal.

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Customer Service Budgeting Article 97

Revenue Hub

DECEMBER 16, 2024

NB: This is an article from UP Hotel Agency Subscribe to our weekly newsletter and stay up to date Well, I guess its time to start waving the magic digital wand for 2025. The next article will look into top ways to allocate your marketing budget in 2025. Why not spend uncapped while your CPA remains below that of an OTA.

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Budgeting Article Marketing Book 101

Modern Restaurant Management

JUNE 30, 2021

FDA Announces $134M Budget Increase : On June 7, 2021, the FDA released its Fiscal Year 2022 budget outlining key investments for food safety. The budget provides increases to core food safety programs and outlines emerging issues of concern for the agency. The agency’s FY 2022 Budget provides $1.6

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Budgeting Kitchen Operations Accounting Article 189

Revenue Hub

SEPTEMBER 9, 2024

NB: This is an article from Hotel Financial Coach Subscribe to our weekly newsletter and stay up to date That being said, it doesn’t weigh much but once you start to use one it’s an indispensable tool that you must have each month, and its impact and importance usually gains weight and momentum into the final few months of the year.

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Budgeting Article Scheduling Communication 87

Revenue Hub

SEPTEMBER 26, 2024

By leveraging Paid Search prospecting strategies, hotels can target potential guests based on their interests in the destination, attractions, and key selling features of the property, all while maintaining an efficient budget. Campaign Guidelines: Minimum Budget: $500-$1,000 per month.

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Budgeting Article Marketing Book 90

Modern Restaurant Management

OCTOBER 17, 2022

According to a CBS article , back in 2008, McDonald’s replaced their double cheeseburger, which had two meat patties and two slices of cheese, with a new burger that only had a single slice of cheese. Moving forward, technology will be critical to the success of your restaurant, but so will cutting costs.

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Budgeting Article 203

Modern Restaurant Management

JUNE 27, 2022

They may have discovered you from an Eater article, booked their reservation through OpenTable, or located you via Google Maps, and they will surely review their experience on Yelp — whether positive or negative — when their meal is complete. Restaurant customers do everything from their phones.

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Article Definition Customer Service Budgeting 203

Revenue Hub

DECEMBER 20, 2024

NB: This is an article from Net Affinity Subscribe to our weekly newsletter and stay up to date We urge hoteliers to act fast this festive season to maximise New Year bookings. Hotels that leverage this strategy and market to a well-curated database with a solid budget often see a significant uplift in direct bookings.

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Budgeting Book Article Marketing 74

Revenue Hub

DECEMBER 5, 2024

NB: This is an article from Cloudbeds , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Accurate forecasting also benefits hotels’ bottom lines in other ways. Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience.

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Book Article Budgeting Pricing 94

Revenue Hub

FEBRUARY 22, 2024

NB: This is an article from iVvy Subscribe to our weekly newsletter and stay up to date It’s like looking for a needle in a haystack, except the needle can significantly boost your revenue. Read the full article at iVvy The post How to Streamline Your RFP Process for Improved Conversions appeared first on Revenue Hub.

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Budgeting Events Article Information 102

Revenue Hub

APRIL 25, 2024

NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date As hospitality digital marketing has progressed, so have the strategies and tactics used by hotels and OTAs to win customers. OTA’s deploy massive budgets through omnichannel campaigns that result in billions of dollars of transactions.

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Book Budgeting Article Pricing 92

Revenue Hub

JANUARY 11, 2024

NB: This is an article from WebRezPro But for busy hoteliers with mounting priorities and limited resources, how do you get to them all? Yes, yes, there are other search engines out there but the reality is that Google dominates when it comes to travel planning and can help your hotel get out in front even if you’re on a budget.

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Marketing Blog Budgeting Article 100

Revenue Hub

APRIL 22, 2024

NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date They look at their media mix, replete with reasonable allocations to paid search, social media, display, SEO, and metasearch, and feel like they have covered their proverbial bases. Opportunity wasted, revenue squandered. Opportunity maximized.

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Budgeting Book Presentation Marketing 105

Revenue Hub

NOVEMBER 22, 2024

NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date While on the surface, it may seem like it’s beneficial to always run more ads, offers, and campaigns than your competitors, a spray-and-pray approach will almost always bring worse results than an effective, controlled hotel ad campaign strategy.

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Budgeting Article Blog Book 94

Revenue Hub

OCTOBER 22, 2024

NB: This is an article from berner+becker , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date The Statista graph of monthly precipitation paints a similar picture. The next key is to set a RGI target together with your budget. Read the full article at berner+becker The post Bad Summer – Good Result!

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Budgeting Article Pricing Marketing 97

Revenue Hub

FEBRUARY 1, 2023

NB: This is an article from Right Revenue , one of our Expert Partners So instead of dwelling on that question, may I ask you a new question… ‘how much will you spend on your digital marketing budget next month?’ These budgets are often restricted and managed heavily. sorry, we can’t afford to allocate more spend’.

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Budgeting Book Article Marketing 89

Revenue Hub

NOVEMBER 8, 2023

You knew it was coming – it happens every year – but budget season was hectic so you pushed it to the bottom of your to-do list until… “What are we doing for Black Friday this year?” can be used to save you time (and budget!) It’s the question every busy marketer fears. Below we’ll outline how automation and A.I.

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Book Budgeting Blog Pricing 96

Revenue Hub

FEBRUARY 8, 2024

While budget accommodations may focus on practical features, luxury hotels need to showcase their opulence and comfort through their images to justify higher rates. If budget allows, hire a professional copywriter to fine-tune your property’s description to be as engaging as possible.

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Book Budgeting Article Pricing 103

Revenue Hub

NOVEMBER 14, 2024

NB: This is an article from Userguest , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date These figures may seem intimidating, and many independent hoteliers might feel discouraged, often thinking, “We can’t outspend the OTAs, so why even try?”

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Book Article Budgeting Marketing 95