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How to Manage Your Marketing Budget Effectively

Revenue Hub

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.

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Tourism trends: Domestic and international tourist market

SiteMinder

Furthermore, catering to trends in experiential travel by offering immersive local experiences or themed stays can lead to higher guest satisfaction and stronger emotional connections with the brand. When it comes to luxury vs budget travel , travellers are willing to spend more – where they see value.

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The rise of staycations: how UK hotels can capitalise on domestic tourism

Hotel Owner

It is estimated that in 2021 alone, domestic travel accounted for 96% of the UK’s total travel and tourism expenditure while two years prior, in 2019, it represented 81% of the total expenditure. In 2023, the share of Britons taking a domestic summer holiday, or staycation, in the UK increased by 50% compared to the previous year.

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How To Select The Right OTAs For Your Hotel - A Comprehensive Guide

Hotelogix

This gives them a better idea of what fits their requirement and budget best. This aids in getting maximum visibility and enhancing exposure to both domestic and international audiences.  Understanding your target audience: Different hotels cater to different markets, and different OTAs cater to different regions and audiences.

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JLL: Q3 RevPAR up 14% vs 2019

Hotel Business

This quarter’s report highlights the following key trends: Bifurcation in hotel performance persists as RevPAR growth slows While RevPAR remains up 14% to 2019, growth has stagnated, rising just 1% vs. 2023, driven by declines in domestic leisure travel amid contracting consumer savings. relative to last year.

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Ultimate Grubhub, Red Lobster Catering and Parts in Town

Modern Restaurant Management

” Debuting in February, Beverage Program Management will teach students how to advance from guest relations to purchasing, budgeting, creating menus, staff education and optimizing technology. This marks Red Lobster's entry into the $62 billion catering market. exclusively through ezcater.com. Omnivore Names COO and Moves HQ.

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Best Practices for Hospitality Marketing

Modern Restaurant Management

What You Can Do with Your Marketing Budget. Budgeting is a tricky one at this time. Should you cut your marketing budget or keep it the same as it was? If you can justify keeping your marketing budget where it is then do so. Although you should examine how your budget is spent. Focus on Digital Marketing.

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