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. It should provide real-time price optimization to adapt quickly to changing market conditions, all while being intuitive and user-friendly for staff across different departments.

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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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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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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. For households, the chancellor revealed that the Energy Price Guarantee will remain at £2,500 until June. by the end of 2023.

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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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Revenue Hub

JULY 31, 2024

The ongoing manual calculations and pricing updates across all your distribution channels are huge headaches to most hoteliers, especially if pricing isn’t your only responsibility at your property. How and why should you set business objectives for your property? How and why should you set business objectives for your property?

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Pricing Book Marketing Article 92

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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Les Roches

JANUARY 17, 2024

Strategic decisions about menu design, customer de­mographics, and pricing strategies also play critical roles. By unde­rstanding effective pricing strate­gies, restaurants can achieve a sustainable balance betwe­en profitability and memorable customer experience. Bachelor in Hospitality Management.

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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.

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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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Revenue Hub

JULY 27, 2023

NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business.

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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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Hotel Business

FEBRUARY 1, 2024

According to the 2024 State of the Meetings Industry report from Knowland and ConferenceDirect , pricing continues to be an issue with 47% of meeting planners. Highlights from the survey include: The rise in F&B and AV prices of up to 50% is a game changer for event design and production.

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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 88

STAAH

NOVEMBER 29, 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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Budgeting Pricing Book Accounting 66

Hotel Business

JUNE 28, 2024

Budget season arrives all the same. While quoting Thanos is maybe a little dramatic here, hotel budgeting season being right around the corner is no joke. Visionary hoteliers considering today’s revenue management solutions are weighing the pros and cons before committing to technology ahead of this year’s budget season.

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Hotel Owner

MAY 15, 2023

“I think because we focus on the basics, consumers recognise that and reward us for paying the right price, for the right product and not for things that they don’t need,” says Karim Malak, CEO of Easyhotel. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate.

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Budgeting Book Pricing Marketing 105

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? Pricing: Have We Reached a Ceiling? percent in 2022 to 6.8

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Budgeting Travel and Tourism Pricing Article 101

Hospitality Magazine

FEBRUARY 6, 2023

People will adjust their budgets and choices, and you’re flexible enough to meet them with fresh new offers. A digital menu gives you endless flexibility to experiment with new dishes, drinks and pricing. If something doesn’t work, it’s gone in minutes, or you can raise the price if it’s a success. Upgrade your menu.

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Bookkeeping Pricing Book Customer Service 162

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.

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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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Budgeting Information Article Events 84

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

FEBRUARY 9, 2023

The return of international and business travel is also likely to have a positive impact on air travel. And, with a third of travelers planning on a business trip, mid-week flights may see a bump as well. As economic pressures rise in 2023, price will continue to impact how travelers make their decisions.

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Pricing Budgeting Book Article 92

Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Pricing Book Marketing Article 93

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.

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Hotel Owner

MARCH 7, 2024

The Bristol Hoteliers Association (BHA) has expressed its frustration at the outcome of the Spring Budget, saying that the government has once again left businesses “out in the cold” to face extremely challenging times with little support.

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Budgeting Pricing 52

SiteMinder

AUGUST 1, 2024

What is a hotel business plan? A hotel business plan is a comprehensive document that outlines your hotel’s goals, strategies, and financial projections. It’s a vital tool for any hotel owner or operator, whether you’re starting a new hotel, expanding an existing business, or improving your current operations.

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Travel and Tourism Competitive Analysis Pricing Budgeting 52

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.

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Pricing Budgeting Magazine 246

Hotel Business

APRIL 12, 2023

The third edition of Deloitte’s corporate travel study, “Navigating Toward a New Normal,” examines why and when employees are expected to travel for business, as well as the dynamics creating headwinds and opportunities for the sector. based and European executives with travel budget oversight, fielded between Feb. One-third of U.S.

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Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Hotel Owner

NOVEMBER 22, 2023

Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from 12% to 10% from 6 January.

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Budgeting Pricing 97

Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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Pricing Article Book Events 66

Revenue Hub

OCTOBER 31, 2023

The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. Subscribe to our weekly newsletter and stay up to date This is according to the latest GBTA Business Travel Outlook Poll released by the Global Business Travel Association.

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Hotelogix

OCTOBER 18, 2023

In this comprehensive guide, we delve into what a hotel reservation system entails and highlight its pivotal role in modern hotel businesses' success.   👉It offers real-time information about room availability, pricing, and amenities, allowing potential guests to make informed decisions and quickly secure their reservations.

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Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The only way you can know how to price your specials is to create a costing card. The menu price.

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Pricing Server Marketing Budgeting 111

Modern Restaurant Management

AUGUST 2, 2024

Finally, restaurant leaders are doubling down on sustainability as an investment in their business and the future. As a result, they are making hard decisions to adjust prices and make menu changes. More than 68 percent reported implementing sustainability practices. LTO Impact A new Placer.ai

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Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. Pricing can be based on cost, competition, or demand. It’s also about adapting your rates to market fluctuations so that you offer the right price, to the right guest, at the right time.

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