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Why Restaurants Should Prioritize Technology In 2023 Budgets

Modern Restaurant Management

Come 2023, it will be increasingly important for restaurants to factor technology into their budgets to adapt to the changing economic landscape and better meet consumer demand. For these reasons, restaurants should factor technology into their 2023 budgets.

Budgeting 201
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Best Steps and Practices to Create a Robust Hotel Budget

Revenue Hub

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.

Budgeting 109
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Hotel Market Segmentation Guide- Key to Your Hotel's Growth

Hotelogix

The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape.  Make market segmentation your strategic priority and watch your hotel thrive in today's competitive landscape. Book a Demo with Hotelogix PMS

Marketing 100
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Value Meals: A 3M Strategy for Restaurant Success

Modern Restaurant Management

percent compared to May 2023, potentially due to changing eating patterns and budget concerns, as well as the competition with winning promotions the previous year. Measure More Than Sales Significant changes in consumer behavior started well before the pandemic and have only persisted post-2020. For example, breakfast traffic is down 5.6

Pricing 189
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Why Hotels Should be Using a Rolling Forecast

Revenue Hub

Then, we want to understand how we communicate its findings and finally we want to see how we can use it to change financial direction, allowing us yet again a chance to make our numbers. In the beginning there has to be a budget. Without the budget we can’t have a rolling forecast. That last part is critical.

Budgeting 107
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Sales Management Careers in Senior Living – What are the 3 Must-Have Traits for Success?

Horizon Hospitality

While this should mean that senior living sales professionals’ jobs are getting easier, many communities are struggling to convert leads. It means that senior living sales professionals need a different set of skills to be successful in today’s senior living landscape. What does this mean?

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How to manage refurbishing your hotel

Hotel Owner

A meticulously crafted plan serves as the roadmap for the refurbishment, working out timelines, budget allocations, and resource requirements. Navigating the regulatory landscape entails obtaining necessary permits, approvals, and compliance certifications from local authorities, regulatory agencies, and industry bodies.