Lodging Magazine

NOVEMBER 5, 2024

My hotel is currently operating on a very tight budget, and I am struggling to get necessary system upgrades approved to ensure proper security measures are being met. Data protection is not just a technical issue—it’s a business imperative. In hospitality, just like in any business, trust is key. Do you have any advice?

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Hotel Owner

NOVEMBER 7, 2023

AGO Hotels has called for the government to “protect businesses from economic fragility and demonstrate commitment to the hospitality industry, a huge contributor to the UK economy”, ahead of the Autumn Budget. Finally, he confirmed for SMEs, business rates will be “central” to the statement.

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Modern Restaurant Management

NOVEMBER 28, 2022

Between dining restrictions, inflation, and the ongoing labor shortage, many businesses have been forced to close their doors, change their operations, or otherwise look for alternative solutions. In some cases, self-ordering kiosks have been shown to save businesses over $6,750/month for each cashier position they automate.

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Hospitality Net

AUGUST 22, 2024

Are you getting ready for budgeting and forecasting for 2025? Do you want to learn how to leverage consumer trends, market data, and your historical channel and audience information to develop a data-driven budgeting and forecasting methodology? Are you concerned that fewer guests are finding your hotel online?

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Boutique Hotel News

MARCH 15, 2023

UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. Contents of the Budget which affect hospitality includes: • From August, alcohol taxes on wines will rise by up to 50p a bottle but the duty charged on draught beer will be up to 11p lower than the duty in supermarkets. • million) will be abolished.

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Serviced Apartments

OCTOBER 31, 2024

Reading Time: 7 minutes UK: UK Chancellor Rachel Reeves MP has delivered a Labour Budget for the first time in 14 years as the government warned of “difficult” decisions to “restore economic stability” and plug a £22 billion black hole in public finances that was estimated by the Office for Budget Responsibility [OBR].

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Serviced Apartments

MARCH 6, 2024

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

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Hospitality Net

APRIL 30, 2024

Effective financial management is paramount for the success of a hotel business. One of the critical aspects of financial management is budgeting, a process that traditionally involves significant time, effort, and coordination among various departments within a hotel organization.

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Budgeting 69

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 69

Hotel Management Network

OCTOBER 29, 2024

Experts predict a focus on tax reforms, support for smaller businesses, and investments in sustainability and workforce training. The post Autumn Budget 2024 predictions: What hospitality experts are saying appeared first on Hotel Management Network.

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Modern Restaurant Management

NOVEMBER 19, 2020

The high levels of uncertainty surrounding the future of the COVID-19 pandemic highlight the importance for restaurants to rethink their approach to budgeting for 2021. Budgets were thoroughly reviewed, signed off on and then periodically updated every 30, 60, or 90 days. Budget No. Budget No. 1: A Pandemic Environment.

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eHotelier

DECEMBER 11, 2022

The traditional P&L based on cost categories is not telling stories about what is going on in the business, nor does it help make any relevant decisions.

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Budgeting 264

Hospitality Net

OCTOBER 14, 2024

Budgeting is like training for an Olympic marathon. The goal, after all, is to be in business for the long haul while staying lean and nimble in the short term. Days are spent creating a plan to address weaknesses, build on strength and endurance, and hedge against unfortunate events.

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Hotel Owner

OCTOBER 31, 2024

The hospitality industry has criticised chancellor, Rachel Reeves’ first budget, with UKHospitality claiming it is the “latest blow” to the sector’s recovery. She also confirmed the continuation of the business rates relief from April 2025 for hospitality venues, but at a lower rate of 40% instead of the current 75%.

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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. So, we’re able to be more aspirational,” he said. That is absolutely critical.”

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Modern Restaurant Management

NOVEMBER 4, 2024

Growing Businesses: How to Add a Personal (and Community) Touch Smaller businesses have the home-field advantage of being able to build closer, more personal relationships with their customers. Partnerships Pay Off: Teaming up with local businesses for cross-promotions can give your loyalty program a boost. And who knows?

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Hospitality Magazine

JULY 26, 2023

Global business platform Xero has released its latest data as part of the Xero Small Business Index that covers statistics from February to June 2023. The Xero Small Business Index averaged 120 points in the first five months of this year, which is above the last result of 112 that was revealed at the end of 2022.

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Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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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. Scalability and Adaptability A great RMS should grow with your business. This centralized approach ensures efficiency and revenue consistency across all locations.

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Budgeting Pricing Article Marketing 79

Social Hospitality

MARCH 29, 2023

Part of growing a business is to spend time, money, and effort on marketing. For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. But it’s a different story for small businesses. Bring business cards and other marketing materials.

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Hotel Owner

MARCH 15, 2023

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. As part of the budget no further changes were announced on VAT, income tax or National Insurance levels. by the end of 2023.

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Social Hospitality

MARCH 22, 2023

Part of growing a business is to spend time, money, and effort on marketing. For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. But it’s a different story for small businesses. Bring business cards and other marketing materials.

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Hotel Owner

OCTOBER 30, 2024

The Chancellor Rachel Reeves has increased employers’ national insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. an hour from April, up from the current pay of £11.44. from £8.60

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Budgeting 52

Modern Restaurant Management

OCTOBER 9, 2024

With the post-pandemic return-to-office, business catering is in full swing. But business catering is a different beast requiring different menus, operations, and technology. So, how can operators best invest in their businesses to meet the needs of local businesses? Business catering is complex and high stakes.

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Hotel Owner

FEBRUARY 29, 2024

Hospitality CEOs from groups including Mitchells and Butlers, Accor Hotels, Stonegate Pubs and Crerar Hotels have signed an open letter urging the Chancellor to take immediate action at the budget to prevent further business failure.

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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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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. What’s their purpose for travel—business, leisure, or special events?

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Hotel Owner

MAY 15, 2023

The budget hotel sector has seen major growth in the last few years as people either cut back on luxuries or want less luxury from their hotel stays. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate. The outlook is good.

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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. OTAs: At TravelBoom we like to think of the OTAs as a new business tool, not a set-and-forget way to fill empty rooms. Some may not even know where to begin. If not, now’s the time to create one.

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Hotel Owner

NOVEMBER 11, 2024

UKHospitality alongside notable hospitality bosses have warned the chancellor that plans outlined in the autumn budget will cause small business closures, job losses and reduced investment in the sector. Unquestionably they will lead to business closures and job losses within a year.

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Social Hospitality

AUGUST 7, 2024

Running a business in today’s social media world is quite competitive, to say the least. This blog post will discuss all the actionable budgeting tips for maximizing ROI in social media advertising campaigns. Key Factors Of A Social Media Budget Staffing and labor costs Staffing and labor costs are the first factors to consider.

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Boutique Hotel News

JANUARY 16, 2023

Business travel will be robust and international. In total, 72 per cent of travel managers expect their business travel volume to increase either somewhat (46 per cent) or significantly (26 per cent) in 2023, when compared to 2019. Rising costs spur budget increases . Here’s what they found: 1. Supplier takeaway.

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Hotel Owner

JANUARY 25, 2023

Travelodge has revealed it has successfully completed the first phase of its multi-million pound budget-luxe hotel upgrade roll-out programme. In addition three new-build budget-luxe Travelodge hotels were also opened in the last six months. It is our intention to upgrade all of our hotel portfolio to the new budget-luxe format.

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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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Hotel Owner

NOVEMBER 1, 2024

The employment tax measures announced in the Autumn Budget will increase the cost of employing a full-time staff member by at least £2,500, UKHospitality has said. The Institute for Fiscal Studies has said that businesses employing people on the National Living Wage will face the biggest hit from the increase, and as an employer of 3.5m

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Modern Restaurant Management

DECEMBER 28, 2022

But have you considered how an equipment subscription is a better, smarter business move than equipment ownership? While purchasing has always been the norm for most, if not all, essential equipment in the restaurant business, it’s not necessarily the smarter fiscal choice. EaaS for Big Business. Brand protection.

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Revenue Hub

OCTOBER 12, 2022

This trend continued throughout the summer, laying excellent foundations for a strong Q4 where hotel reservations are already outpacing 2019 bookings, according to Amadeus business intelligence data. With such positive indicators heading into 2023, how are you preparing to allocate your technology budget to tackle your greatest needs?

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