Revenue Hub

NOVEMBER 17, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times. We conduct a lot of due diligence surrounding our competitors.”

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Budgeting Article Strategic Planning Accounting 109

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 109

Revenue Hub

JANUARY 8, 2025

NB: This is an article from Userguest , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Subscription-based travel is here, and its revolutionising the hospitality industry. Subscriptions provide consistent cash flow, allowing you to budget and invest with confidence.

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Article Budgeting Pricing Presentation 109

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 Unlike static budgets, which are set once a year and quickly become outdated, rolling forecasts are updated monthly, allowing hotels to react to changes.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 101

Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

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Budgeting Article Pricing Marketing 109

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 106

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 109

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 104

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 108

Revenue Hub

NOVEMBER 28, 2024

NB: This is an article from TCRM Subscribe to our weekly newsletter and stay up to date In hotels, it involves adjusting room rates based on real-time factors like demand, competition, and market conditions. Conversely, they can attract budget-conscious travelers during off-peak periods by offering lower rates.

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Pricing Travel and Tourism Article Budgeting 108

Revenue Hub

JANUARY 6, 2025

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date Instead of spreading your attention across many metrics, concentrating on a few KPIs ensures the hotel team aligns with the most critical business drivers.

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Budgeting Guest Satisfaction Accounting Article 109

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 106

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 109

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 109

Revenue Hub

JANUARY 8, 2025

NB: This is an article from RoomPriceGenie , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date These are crucial questions faced by independent hotels daily. This includes: Read the full article at RoomPriceGenie The post Maximizing Hotel Room Revenue with Strategic Discounting appeared first on Revenue Hub.

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Pricing Book Article Budgeting 109

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 109

Revenue Hub

FEBRUARY 28, 2024

NB: This is an article from Triptease , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Let’s dive into what this means for your hotel’s budgeting strategies and how you can navigate these circumstances. The good old days when you only paid after a guest’s stay are over.

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Budgeting Article Marketing Book 108

Revenue Hub

NOVEMBER 6, 2024

NB: This is an article from Profitroom Subscribe to our weekly newsletter and stay up to date Then you check your financials and… ouch. Find the sweet spot where OTA commissions and your marketing budget optimise overall revenue. You’ve just had a fantastic month. Where did all that revenue go?

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Book Article Definition Pricing 109

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 106

Revenue Hub

MARCH 11, 2025

NB: This is an article from Cendyn Subscribe to our weekly newsletter and stay up to date Its a secure way to capture commercial growth at the Find, Book, and Grow stages of the customer journey. Read the full article at Cendyn The post Maximize Digital Marketing Performance with Data Strategies appeared first on Revenue Hub.

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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 104

Revenue Hub

NOVEMBER 25, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date With travelers in a spending mindset and evolving travel trends, hoteliers can tap into this lucrative season by embracing innovative strategies. These visuals can be a powerful tool to attract potential guests.

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Book Article Budgeting Catering 108

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 108

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 98

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 104

Hospitality Net

NOVEMBER 8, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times.

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Budgeting Article 98

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 102

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 97

Revenue Hub

NOVEMBER 21, 2024

NB: This is an article from Userguest , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date But for many hotels, it doesn’t work out that way. Read the full article at Userguest The post Hidden Costs of Paid Ads: Why Hotels Often See a Poor Return appeared first on Revenue Hub.

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Book Article Budgeting Marketing 107

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.

Budgeting 109

Budgeting Travel and Tourism Pricing Article 109

Revenue Hub

NOVEMBER 13, 2024

NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date Search Impression Share in Google Ads is one of those unique metrics that often causes confusion. Read the full article at gcommerce The post What is Search Impression Share in Google Ads? appeared first on Revenue Hub.

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Article Budgeting Communication Information 109

Revenue Hub

FEBRUARY 18, 2025

Without understanding which guest segments are most profitable, hotels target the wrong audiences, misallocate their marketing budgets, and miss critical opportunities to boost revenue and profit. Travel Agents: Can deliver niche market segments, particularly for specialized travel such as corporate or luxury tourism.

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Travel and Tourism Accounting Article Book 91

Revenue Hub

DECEMBER 5, 2024

Travelers have understood that the best product offering and purchase experience should be found on the direct supplier outlets (web, contact center or social media) when the incumbent has a clear B2C strategy and adequate levels of investment and focus on the final customer plus the required technology and marketing budgets.

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Marketing Procurement Article Definition 109

Hotelogix

FEBRUARY 13, 2025

They have big budgets and entire teams dedicated to marketing, making it tough to stand out. This article offers simple ways to make your mark. Competing with large hotel chains can feel overwhelming. It might seem like your efforts are overshadowed. But being smaller gives you an edge. Remember, being small can be your superpower.

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Marketing Book Reservations Pricing 130

Revenue Hub

FEBRUARY 7, 2025

NB: This is an article from Cendyn Subscribe to our weekly newsletter and stay up to date The advancement of OTAs took the rug from under direct bookings, and yet today the ideal distribution mix according to hoteliers places two-thirds of bookings from direct channels. There are other reasons why OTAs arent going anywhere.

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Book Budgeting Article Marketing 70

Revfine

FEBRUARY 3, 2025

Establishing a hotel budget involves estimating revenue and expenditure over a defined period and establishing rules about how much money is available based on various factors, including changes in customer demand. In this article, you can access some effective budgeting tips for your hotel.

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Budgeting Article 52

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