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. What are the primary differences in business catering vs. party catering? Business catering is complex and high stakes.

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Revenue Hub

OCTOBER 10, 2024

You want to be sure you’re offering minimum pricing that’s beneficial for your company’s bottom line, and that makes sense for your customers. Catering budget : A required minimum amount to be spent on catering to reserve the event space. Event minimums are nothing new, but determining the amounts can be challenging.

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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. In this approach, hotel rooms are viewed and sold as commodities, regardless of who the guest is.

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Pricing Guest Satisfaction Article Blog 98

Hotelogix

DECEMBER 7, 2023

This gives them a better idea of what fits their requirement and budget best. These platforms work like magic to spread the word about property, inventory, prices, offers, etc. Understanding your target audience: Different hotels cater to different markets, and different OTAs cater to different regions and audiences.

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Book Budgeting Catering Strategic Planning 268

LimeTray

FEBRUARY 9, 2025

The article below explores key features of restaurant POS systems, comparing top options like ere4u and LimeTray, along with their pricing factors. Menu management features allow quick adjustments, keeping offerings fresh and relevant, catering to evolving customer preferences, and potentially increasing sales.

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Modern Restaurant Management

MARCH 11, 2025

While working hard to bring customers back into the restaurant is very important for success, it has become more important to figure out the third-party equation in terms of pricing, commissions and fees, and value – which is ultimately the difference between success and failure. Small businesses did what they always do—adapt.

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Hospitality Magazine

SEPTEMBER 20, 2023

For me personally, I like having a day of the week that is customer-focused and accessible for guests, particularly the wine, which people can be priced out of.” There are three promotions now live that reflect the ethos of each restaurant and cater to what consumers want or have requested in the past.

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Modern Restaurant Management

DECEMBER 17, 2024

Thus, finding the right balance between maintaining high quality and keeping prices reasonable is crucial. Educating consumers about the benefits of sustainable ingredients can also foster understanding around pricing, making them more willing to pay a premium.

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Marketing Pricing Customer Service Catering 167

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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Revenue Hub

NOVEMBER 18, 2024

Offer a Discount on Your Best Available Rates Let’s start with the most influential factor in group bookings: competitive pricing. Group bookings often come down to price sensitivity, as corporate clients and private groups are both budget-conscious.

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Modern Restaurant Management

JANUARY 9, 2024

Restaurants trying to attract price conscious diners should make sure that their menus carry several low-cost, higher margin staples that can be sold at reasonable prices. Consider reducing the size and price of certain staples and then offering a “super-sized” portion for a higher price.

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Pricing Budgeting Marketing Catering 193

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 92

The Restaurant Times

JANUARY 23, 2022

If you have a flair for cooking and want to monetize your passion and skills, you can easily combine the two to start your very own catering business in the USA. . The catering industry includes companies that provide individual event-based food services. In 2019, catering companies in the US earned $11 billion in revenue 2019.

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Catering Events Marketing Budgeting 75

Hospitality Magazine

OCTOBER 7, 2024

The risk and the barriers to entry are taken away [with a wine flight]: price, varietal, and quantity,” explains Birch. “So Birch hopes the style of offering at Famelia will cater to different budgets and desired experiences. “A Famelia’s monthly wine flight list fosters a sense of inclusivity and education.

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Pricing Budgeting Catering Magazine 246

InnQuest

SEPTEMBER 12, 2023

Food and Beverage Services: This department manages all dining and catering services within the hotel, including restaurants, room service, banquets, and bars. This includes advertising, promotions, pricing strategies and partnerships with travel agencies and online booking platforms.

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Maintenance Guest Satisfaction POS Systems Housekeeping 220

InnQuest

JULY 10, 2023

As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users. Imagine walking into a hotel that anticipates your needs, understands your unique desires and precisely caters to your individual preferences.

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Marketing Catering Budgeting Pricing 130

SiteMinder

NOVEMBER 24, 2024

This allows you to identify strengths, address weaknesses, and make informed decisions about pricing, services, and operations. Budget brands like Motel 6 often have lower fees compared to luxury chains like Hilton or Marriott. Compare the fee across multiple franchises to find one that aligns with your budget and revenue potential.

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Budgeting Catering Guest Satisfaction Training 52

EATER

DECEMBER 2, 2024

Expect to pay a bit more The open restaurants may charge a little more for holiday dishes or offer a fixed price menu in order to simplify preparation and make it worth the staff’s while to be there. Likewise, set menus will probably make it difficult to request specific dishes or substitutions. Prepare yourself.

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Reservations Book Budgeting Scheduling 104

Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Hotel revenue management involves strategically adjusting your hotel's pricing and availability to maximize revenue.   What is Revenue Management in Hotels?

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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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Modern Restaurant Management

NOVEMBER 27, 2024

How operators are catering to their customers online Off-Premise Sales on the Rise : Ninety-nine percent of operators use at least one online ordering platform, with 39 percent offering a direct online ordering option. As America budgets for the holidays, in-home hosting activity is set to rise by 6.3 Nearly 29 percent of U.S.

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Revenue Hub

SEPTEMBER 25, 2023

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? They act as the secret ingredient that can help you achieve this fine balance of setting the right price at the right time. What are hotel rate types?

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Reservations Book Pricing Catering 109

Modern Restaurant Management

AUGUST 2, 2024

Thirty-seven percent said they’re expanding catering operations. As a result, they are making hard decisions to adjust prices and make menu changes. Budget-Friendly Olympic Dining With the Summer Olympics in full force,Paris is welcoming over 15 million visitors. LTO Impact A new Placer.ai

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SiteMinder

NOVEMBER 27, 2024

For a certain type of traveller, hostels are the ultimate type of accommodation, offering plenty of fun at a far lower price than any other type of property. Hostels are particularly popular with younger, budget-conscious travellers who are happy to enjoy more basic amenities. Youth hostels specifically cater to younger travellers.

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Budgeting Book Pricing Catering 52

Hotelogix

AUGUST 6, 2024

Dynamic pricing strategies: Move beyond static pricing and adopt dynamic pricing for rooms. Utilize data analytics to forecast demand accurately and adjust prices in real-time. Read Also: What is Dynamic Pricing in Hotels? Offer tiered packages to cater to different budget levels.

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Travel and Tourism Book Pricing Training 130

Hotelogix

OCTOBER 4, 2024

A channel manager allows you to update room availability, pricing, and bookings across multiple platforms like Booking.com, Expedia, and more—all from one place. It updates room availability and pricing in real-time across all platforms, ensuring that your hotel’s information is always accurate. What is a Channel Manager? 

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Pricing Book Guest Satisfaction Demo 130

eZee Absolute

DECEMBER 22, 2024

Also, provide comfort amenities like mobile charging stations, medical kits, and local food specialties to cater to the needs of diverse visitors, ensuring they have a comfortable and memorable stay. Dynamic Pricing: Use revenue management tools to adjust pricing based on demand while offering competitive deals.

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Hotelogix

OCTOBER 1, 2024

Whether it’s suggesting hotels based on your past bookings or offering deals that match your budget, personalization is critical. Dynamic Pricing and Real-Time Inventory Updates Dynamic pricing is nothing new, but it’s becoming more advanced. This trend has been growing steadily and shows no sign of slowing down.

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Book Pricing Customer Service Budgeting 130

Revenue Hub

JULY 2, 2024

Here’s how it works: The event planner starts the process by specifying their event requirements, such as the number of attendees, dates, meeting room specifications, audiovisual needs, accommodation, catering, and budget. They include pricing, availability, amenities, and their experience with similar events.

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Revenue Hub

OCTOBER 3, 2024

You know, with the catering, how does that fit in? Now, interestingly, no one would ever consider for a minute trying to do transient room pricing without knowing what their competitors are charging? It’s the meeting room, it’s catering, you know, how much is the the LCD TV rental is. Does it meet your mixed goals?

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Budgeting Catering Pricing Scheduling 104

Hotel Business

MARCH 4, 2025

The Venus Superside Sleep Pillow caters to side sleepers with its curved corner design and Memorelle fiber fill, which is similar to memory foam. However, since down pillows also tend to last longer, the price per use can be on par with or lower than down-alternative pillows.

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Budgeting Catering Training Article 59

Revenue Hub

JULY 11, 2024

This goes hand in hand with the variety of buying behaviour among those consumer groups and channels to cater for different needs and budget levels. So, in essence, a well-defined set of market segments and the insight into distribution enables you to correctly apply pricing per segment as the base for successful Revenue Management.

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Marketing Article Pricing Book 102

Revenue Hub

JANUARY 17, 2024

Craft tailored packages and promotions that cater to individual tastes, creating an irresistible allure for potential guests. By utilising data effectively, hotels can optimise advertising budgets and drive bookings with a higher conversion rate. Leverage data analytics to understand guest preferences, from room choices to amenities.

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Book Pricing Article Marketing 109

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. We estimate the threshold change may be four times the cost of the new headline rate.”

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Budgeting Catering Pricing Book 52

Revenue Hub

FEBRUARY 7, 2024

Hotels can also use these insights to optimize pricing strategies by identifying demand patterns and price sensitivity among customer segments. Read the full article at Sales and Catering The post Leveraging Data for Boosting Hotel Group Sales appeared first on Revenue Hub.

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Catering Book Article Pricing 106

Revenue Hub

NOVEMBER 9, 2023

Each has its own demands, booking patterns, and budget constraints. Step 2: Strategic Pricing and Inventory Management Now it’s time to dive into pricing and inventory management. Step 2: Strategic Pricing and Inventory Management Now it’s time to dive into pricing and inventory management.

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Book Pricing Guest Satisfaction Article 109

eZee Absolute

SEPTEMBER 11, 2023

Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. In this blog, I will discuss everything Arjun told me (and what I know now) about dynamic pricing for hotels and how you can make the most out of it to mint revenue for your business.

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