Hotelogix

OCTOBER 18, 2023

And that's what we are going to discuss today in this blog.  Regular orders and clear communication help build trust, leading to better pricing and priority service. Seasonal Variations: You often experience fluctuations in demand based on seasons or special events.   Let's get started.

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eZee Absolute

AUGUST 31, 2022

Be strategic about the pricing. Host a special event. Have you seen those discounted prices on banners where a higher price is always struck out? Be strategic about the pricing. Pricing is a supremely sensitive aspect of an accommodation business. Host a special event. Keep reading.).

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SiteMinder

JULY 13, 2024

Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Optimal strategies and techniques are dynamic, based on the understanding that hotel pricing is fluid and can change from one day to the next.

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Synergy Suite

MAY 24, 2024

Internal factors include historical sales data, past and present expenses related to ensuring that customers can order everything they hope to from the menu, trends in the popularity and pricing of menu items , profit margins, and more. How does price impact its popularity?

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POS Systems Information Pricing Special Events 52

SiteMinder

DECEMBER 7, 2023

Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. It’s not just about setting the right price, but also about adjusting it in response to market changes. Higher occupancy rates : Pricing rooms correctly plays a pivotal role in driving occupancy.

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Synergy Suite

DECEMBER 7, 2023

Revenue per seat represents the average income generated for each occupied seat within a specified timeframe, offering a nuanced perspective on customer spending patterns and the effectiveness of pricing strategies. It helps you identify trends, measure the impact of pricing changes, and assess the success of marketing initiatives.

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POS Systems Pricing Training Reservations 52

Modern Restaurant Management

DECEMBER 10, 2021

Instead of promoting items according to price or margin, promote what your customers love. For example, you can create a blog to share the inspirations and stories behind your dishes. Another way to do this is to ask your front-of-the-house staff to ask someone making a booking for a large group if they are celebrating a special event.

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SiteMinder

OCTOBER 10, 2023

The result gives hotel managers an idea of how many rooms they can still sell, allowing them to make informed decisions about pricing, promotions, and distribution. The importance of forecasting in the hotel industry You need to use forecasting at your hotel to inform your pricing and revenue strategies. Special events & holidays.

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Book Pricing Reservations Accounting 52

Synergy Suite

OCTOBER 19, 2023

This metric provides insights into your restaurant’s pricing strategies, menu composition, and upselling techniques. This can help you assess the effectiveness of pricing strategies and upselling techniques. This information helps in fine-tuning menu composition and pricing strategies. Are there underperforming items?

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eZee Absolute

MAY 29, 2024

But here’s the good news: with the right approach, you can turn those hotel RFPs into booked events and boost your hotel’s group business. And this blog is your secret weapon for mastering the RFP game. These groups often require special event spaces, banquet halls, and on-site catering for the big day.

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Events Catering Book Budgeting 52

Synergy Suite

OCTOBER 12, 2023

Analyze the gross profit margin to understand how efficiently you’re managing costs and pricing your menu items. Gross profit is a critical indicator of the core profitability of a restaurant’s menu items, reflecting how efficiently it manages costs and pricing.

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Portion Control Pricing Accounting Procurement 52

Xotels

JANUARY 18, 2021

The price does not decide the market segmentation. You may want to introduce sub-segments such as your pricing points such as BAR and how yieldable the segment is. Special Event; packages and offers during holidays, festivals, concerts. Subscribe to Our Blog. What is Hotel Market Segmentation? Negotiated Rates.

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Restaurant Engine

FEBRUARY 8, 2023

This is why it’s so essential that you have correct information about your hours, address, phone, contact info, description, price range, category, reviews, and photos. Finally, don’t forget to share all your YouTube videos on your website – your blog is a great place to do this. #4:

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SiteMinder

OCTOBER 5, 2023

However, while the platform provides a suite of tools designed to streamline operations, like reservation management, dynamic pricing, and integrated review systems, it’s essential for hoteliers to invest time in understanding and optimising these features. A particularly useful feature is the rate management tool.

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Competitive Analysis Book Information Property Management 59

SiteMinder

NOVEMBER 30, 2023

Stay on the cutting edge with SiteMinder Automated listing updates, tailored offers, in-depth competitor pricing insights and more, SiteMinder offers users the latest in hotel management technology. Revenue management systems Revenue Management Systems (RMS) employ data analytics to predict demand, optimise pricing, and maximise revenue.

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SiteMinder

OCTOBER 20, 2022

In this blog post, we explore how Airbnb as a distribution partner to hotels is different, what Airbnb competitors are out there and what alternatives hoteliers might want to consider in order to diversify their reach using channel managers. Perhaps the question never should have been about competition, but about distribution.

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Book Blog Pricing Special Events 52

7 Shifts

NOVEMBER 9, 2022

For instance, if they are about to leave your website, you can offer a discount or if they read your blog you can offer access to your cooking classes. For instance, recipes, health blogs, cooking classes, and ebooks are all good ideas for convincing your customers to leave their email addresses. Business updates.

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7 Shifts

JUNE 16, 2024

You can give your customers 1 point for every $10 they spend at your restaurant (the price point depends on how much you're selling your food and beverages; just make sure to set an achievable price). This doesn't mean, however, that you have to increase the price of your menu in-store.

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Lithos POS

SEPTEMBER 27, 2023

It helps you to calculate bills and taxes accurately based on the items ordered, their prices, and any applicable taxes or discounts. Business Insights With the help of POS reports and analytics, you can make data-driven decisions to optimize menu offerings, pricing, marketing, and financial decisions.

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Synergy Suite

OCTOBER 5, 2023

This could include renting out space or property to other businesses or for events, any sort of income generated from membership or loyalty programs, income generated from partnerships or joint promotions, or income from catering services that are above and beyond the price of just the food.

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MBB Hospitality

APRIL 24, 2019

Result: Positive mention of the brand to Shankman’s 100K+ Twitter followers and his blog. Result: Wider market reach to those who can’t afford regular Chili’s prices. How to apply it to your restaurant business: Find food combinations that your customers will love and you can offer at a discounted combo price.

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Definition Special Events Marketing Pricing 40

Lithos POS

DECEMBER 19, 2023

The kitchen manager is involved in decisions related to ingredient costs, menu pricing, and kitchen budgeting. The post Fast Food Restaurant Management – Diving deeper appeared first on LithosPOS Blog. Assistant managers make decisions related to staff scheduling, inventory management, and customer services.

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SiteMinder

AUGUST 29, 2023

This blog will investigate the myriad different hotel costs that all hoteliers should understand at a fundamental level, before delving into tips, tricks and techniques on how to cut those costs and stop them from sapping profits and stunting your hotel’s growth.

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SiteMinder

OCTOBER 10, 2022

Make strategic pricing decisions to improve profitability. Have similarly priced rooms. How did special events or seasonal fluctuations contribute to my hotel’s performance? An STR report can help you to: Benchmark and compare your performance. Stay on top of your competitors and your market. STR report analysis tips.

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Marketing Pricing Demo Special Events 52

Synergy Suite

APRIL 11, 2023

Promoting special events, discounts, or new menu items through your website helps generate buzz and attract customers and retain loyal ones. Provide detailed descriptions, attractive food photography, and pricing information to give potential customers a taste of what they can expect.

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SiteMinder

JULY 4, 2024

However, if guests don’t feel connected to your brand, they could still be ruled by price, location or facilities next time they choose to book a stay. The more business you can generate from existing guests, the more healthy your business will be in the long run, since you’ll be able to spend less on marketing and forecast more accurately.

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Synergy Suite

NOVEMBER 2, 2023

Monitor overtime expenses and the use of additional labor resources during peak times or special events. By staying proactive with regular wage analysis, restaurants can make informed decisions about menu pricing adjustments and operational efficiencies to counterbalance the impact of rising labor costs.

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Synergy Suite

JULY 20, 2024

Restaurants, in particular, may resort to double shifts during peak seasons or special events when an increased workforce is necessary to handle the customer surge. Effective bookkeeping allows for more strategic menu engineering, adjustments to menu prices, and cost-cutting measures without compromising quality.

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