Modern Restaurant Management

FEBRUARY 27, 2023

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out.

Bookkeeping 189

Bookkeeping Budgeting Scheduling Accounting 189

Revenue Hub

AUGUST 29, 2024

Managing marketing budgets effectively is crucial for any hotelier aiming to achieve sustainable growth in an increasingly competitive landscape. Here’s how to manage your hotel’s marketing budget effectively with these considerations in mind.

Budgeting 108

Budgeting Marketing Book Pricing 108

Revenue Hub

SEPTEMBER 18, 2024

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

Budgeting 104

Budgeting Housekeeping Pricing Article 104

Modern Restaurant Management

MAY 1, 2023

Cybercriminals are increasingly targeting restaurants, seeking to steal sensitive customer data and disrupt business operations. While many restaurant owners may not think they need to worry about cyber attacks, the reality is that no business is immune.

POS Systems 203

POS Systems Information Customer Service Budgeting 203

Hotelogix

NOVEMBER 28, 2024

Managing bookings across multiple channels has become a core part of running a successful hospitality business. How to Pick the Right Channel Manager for Your Business There are hundreds of options in the market. Focus your efforts and marketing budgets accordingly. Focusing on these key factors can help you choose: 1.

Book 130

Book Property Management Reservations Pricing 130

Modern Restaurant Management

NOVEMBER 27, 2024

It's beginning to look like a festive holiday season at workplaces as office party attendance and budgets are rising, according to ezCater's first-ever Workplace Holiday Party Trends Report , which reveals emerging trends and insights from 1,600+ employees and decision-makers nationwide.

Budgeting 197

Budgeting Catering Events Magazine 197

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?

Budgeting 98

Budgeting Information Book Marketing 98

Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Using the off-season to plan and improve your business product or service offerings can help you flourish during the busy season.

Budgeting 230

Budgeting Communication Training & Development Marketing 230

eHotelier

APRIL 21, 2024

In her role, she will serve as the strategic business leader of property operations at the 221-room hotel and be responsible for creating and maintaining a high-performing service culture and managing budgets and reputation.

Budgeting 246

Budgeting Marketing 246

HotStats

OCTOBER 11, 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.

Budgeting 98

Budgeting Procurement Training Events 98

Modern Restaurant Management

OCTOBER 12, 2023

Both legacy restaurants and newer establishments can agree that the literal cost of doing business from payment processing can severely hamper revenue growth from the first sale. business owners an added $1.2 Businesses can easily avoid this by becoming PCI compliant. billion in fees. merchants paid approximately $62.5

Pricing 179

Pricing Budgeting 179

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.

Budgeting 87

Budgeting Scheduling Article Marketing 87

Hospitality Magazine

FEBRUARY 6, 2023

People will adjust their budgets and choices, and you’re flexible enough to meet them with fresh new offers. The post Is your business in shape for the year? The industry must deal with labour shortages, inflation, high interest rates and ever changing food trends. But so do your competitors, and eating out is always popular.

Bookkeeping 162

Bookkeeping Pricing Book Customer Service 162

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.

Budgeting 99

Budgeting Pricing Article Marketing 99

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?

Budgeting 93

Budgeting Marketing Article Special Events 93

Hospitality Magazine

DECEMBER 9, 2024

DElia sold his share of the restaurant in 2018, and his business partner Maurice Terzini (Icebergs Dining Room & Bar) replaced it with Cicciabella in 2019. There are now three set menus to accommodate differing budgets ($85/$105/$145pp) and an updated a la carte menu.

Budgeting 228

Budgeting Magazine 228

Modern Restaurant Management

AUGUST 7, 2024

"Cutting a marketing budget creates a ripple effect that may not be felt until months down the road when the damage has already been done. One way to avoid this is by following an 'always-on'approach to marketing that focuses on attracting new customers, increased repeat business, and overall brand awareness.

Marketing 188

Marketing POS Systems Budgeting Events 188

Hotelogix

DECEMBER 7, 2023

This gives them a better idea of what fits their requirement and budget best. Boost your online visibility: Your business reaches a wide demographic by listing on OTAs. With guests leaving reviews on OTA platforms, your business gains good credibility, facilitating further bookings from across the globe.

Book 268

Book Budgeting Catering Strategic Planning 268

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?

Budgeting 88

Budgeting Marketing Reservations Communication 88

Modern Restaurant Management

MARCH 28, 2023

Small-medium sized business owners may not fully grasp how important technology is due to a lack of knowledge and experience. Digital transformation, while perhaps initially difficult for restaurant owners, specifically small to medium-sized businesses, is the only way to get ahead and survive. At least not entirely.

Front of House 185

Front of House Budgeting Back of House Scheduling 185

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?

Budgeting 69

Budgeting Magazine 69

Modern Restaurant Management

OCTOBER 28, 2024

Gone are the days when businesses could simply tack on point solutions as the budget allowed. The Numbers Don’t Lie: Budgets are rising: A whopping 78 percent of operators expect their IT budgets to grow in 2024, with nearly 20 percent forecasting a more than 10 percent jump.

Budgeting 178

Budgeting 178

Modern Restaurant Management

OCTOBER 24, 2022

Yelp found that food businesses are seeing one of the largest increases of inflationary experiences compared to Q3 2021, followed by restaurants. In response, consumer searches for budget-friendly dining and grocery options are higher than Q3 2021. year over year, with reviews mentioning inflation up by 22 percent compared to Q3 2021.

Budgeting 182

Budgeting Pricing Magazine Marketing 182

Hospitality Magazine

AUGUST 5, 2024

The spirits tax in Australia has now risen to $103.89, making it the world’s third highest as consumers and businesses struggle in the midst of the cost-of-living crisis. These six-monthly increases are becoming increasingly difficult for our business to sustain, and they are impossible to plan for,” he said.

Pricing 246

Pricing Budgeting Magazine 246

Revenue Hub

MAY 1, 2024

A well-defined RFP process allows hotels to effectively manage and respond to multiple bids, increasing the probability of securing business. Read the full article at Cloudbeds The post How to Navigate The RFP To Win More Group Business appeared first on Revenue Hub.

Events 109

Events Article Budgeting Reservations 109

Horizon Hospitality

MAY 15, 2023

Lack of transparency in service fees turned off budget-conscious customers. As delivery orders outweigh dine-in business at many concepts, some concepts have turned to ghost kitchens to handle the shift in business. Restaurants struggled to profit after delivery platforms took their cut. Contact us to learn more.

Budgeting 246

Budgeting 246

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.

Catering 88

Catering Events Budgeting Marketing 88

Modern Restaurant Management

JANUARY 9, 2024

Restaurant owners should work to forecast their busy and slow seasons and use these projections to determine whether they are likely to need capital as they transition into their busy season. Small business owners should consider exploring options with their bank as well as these non-bank lenders.

Pricing 193

Pricing Budgeting Marketing Catering 193

Hospitality Magazine

SEPTEMBER 16, 2024

From cyber security, tipping, and payment solutions to financial wellbeing, practical business advice, and produce price tracking, technology innovators are helping each part of the industry run more effectively and efficiently. As they say, you can’t stop progress. Hospitality is not immune to cyber threats.

Pricing 231

Pricing POS Systems Training Budgeting 231

Modern Restaurant Management

OCTOBER 1, 2022

Restaurant marketing revolves around making your business known. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times. Three Tips to Promote a Restaurant on a Low Budget. It also determines whether prospects would continue their interaction with the business offline.

Marketing 203

Marketing Budgeting Communication Information 203

Modern Restaurant Management

JUNE 1, 2022

As the prices of construction materials skyrocket due to rising inflation and supply chain woes, budgeting for commercial development has become significantly more challenging. It isn’t just the higher price tags, but the difficulty of sticking to budget constraints over the life of a project. Starting with Finishes.

Budgeting 208

Budgeting Maintenance Pricing Back of House 208

Modern Restaurant Management

JULY 15, 2022

The most important thing new owners should know about insurance coverage is that it’s a vital part of running their business. Oftentimes, getting coverage isn’t taken into consideration when it comes to the budget. Those are two of the biggest things that restaurant owners should be covered for in their businesses.

Budgeting 180

Budgeting Communication 180

Modern Restaurant Management

MARCH 15, 2023

Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending. Is it too risky, particularly now coming out of the pandemic and with people paying more attention to their budgets?

Pricing 198

Pricing Budgeting Communication Server 198

Modern Restaurant Management

NOVEMBER 22, 2024

Seasonal hires can have an outsized impact on how a restaurant fares during a busy period. Whether the business has just staffed up for the holidays or experiences their busy period at a different time of the year, investing in seasonal talent is a crucial part of labor strategy year-round.

Scheduling 175

Scheduling Training Budgeting Communication 175

Modern Restaurant Management

DECEMBER 29, 2021

Understanding the business of PR is paramount for success. Yet, often, companies are busy working IN their business rather than ON their business. Many are focused on their immediate needs, such as keeping their clients happy, staying within budgets, and addressing daily challenges. Create the Right Team.

Communication 221

Communication Article Budgeting Marketing 221

InnQuest

AUGUST 8, 2023

Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Seasonal pricing refers to rates that businesses charge during their peak or off-season. Firstly, What is Seasonal Pricing?

Pricing 220

Pricing Guest Satisfaction Blog Budgeting 220

Modern Restaurant Management

DECEMBER 27, 2022

Technology can boost business operations in a variety of ways. Luckily, tech solutions have become more affordable and accessible for food businesses of all sizes and budgets, allowing them to increase transparency, accuracy, safety, and quality. . Overcome Ongoing Challenges. Boost Workplace Accountability.

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Training Budgeting Accounting Pricing 226