Revenue Hub

NOVEMBER 17, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times. We conduct a lot of due diligence surrounding our competitors.”

Budgeting 93

Budgeting Article Strategic Planning Accounting 93

Revenue Hub

SEPTEMBER 27, 2023

NB: This is an article from Fairmas One powerful approach that has been gaining momentum is “Zero-Based Budgeting” (ZBB). In this blog, we’ll dive into the concept of Zero-Based Budgeting and how it can reshape the financial landscape of hotels. Implementing Zero-Based Budgeting 1. Benefits for Hotels 1.

Budgeting 82

Budgeting Guest Satisfaction Article Blog 82

Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. In this article, we will use insights from the survey to identify ways hoteliers can make a positive impact in easing traveler budget concerns. Consider the location and views of each room.

Budgeting 84

Budgeting Pricing Article Catering 84

Hospitality Net

SEPTEMBER 5, 2023

As the hotel industry prepares for its annual budget planning for 2024, we’re at a critical moment where technology and financial strategy blend together. This goes beyond simply setting aside funds for new digital tools; it’s about fully integrating technology into our financial and operational plans.

Budgeting 94

Budgeting 94

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.

Budgeting 95

Budgeting Revenue Projections Article Maintenance 95

Hospitality Net

AUGUST 22, 2023

In a groundbreaking move that is likely to reshape the Indian hospitality landscape, Cozzet Hotels & Resorts has proudly unveiled its latest venture: the “ Cozzet Collection”. Cozzet Hotels & Resorts is affiliated with Cygnett Hotels & Resorts.

Budgeting 95

Budgeting Marketing 95

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. Is there a more agile and efficient method that better aligns with today’s rapidly changing landscape? Is budgeting critical in hotels?

Budgeting 84

Budgeting Information Article Events 84

Hospitality Net

SEPTEMBER 26, 2023

One powerful approach that has been gaining momentum is “Zero-Based Budgeting” (ZBB). In this blog, we’ll dive into the concept of Zero-Based Budgeting and how it can reshape the financial landscape of hotels. It has gained even more popularity due to the unforeseen circumstances caused by the COVID-19 pandemic.

Budgeting 62

Budgeting Blog 62

Hospitality Net

NOVEMBER 6, 2024

It empowers informed decision-making, elevates operational efficiency, and guides budget plans. Without reliable data, hotel executives risk navigating blindly through an increasingly intricate and competitive landscape—a scenario that’s not only irksome but downright dangerous and commercially reckless.

Budgeting 95

Budgeting Information 95

Hotel Owner

APRIL 11, 2024

To maintain competitiveness in the contemporary hospitality sector, it is not merely advisable to invest in search and metasearch advertising campaigns; it is essential to do so in a professional, performance-oriented manner, optimising investments and accurately allocating budgets.

Budgeting 52

Budgeting Book Reservations Marketing 52

Blue Magnet Interactive

OCTOBER 27, 2023

The landscape of the hotel industry in 2024 is evolving rapidly, with an unmistakable tilt towards the digital sphere. This article unravels the significance of each component of a well-balanced 2024 Hotel Marketing Budget and offers insights into how you can invest wisely. Most travelers start their journey with a search engine query.

Budgeting 52

Budgeting Marketing Blog Book 52

Revenue Hub

SEPTEMBER 9, 2024

In the beginning there has to be a budget. Without the budget we can’t have a rolling forecast. A detailed 12-month hotel budget that is compiled by the departmental managers, consolidated by the financial leader, and approved by the brand and ownership. Let’s say we budgeted a REVPAR in Jan of $150, Feb $140 and March $165.

Budgeting 89

Budgeting Article Scheduling Communication 89

Modern Restaurant Management

JULY 16, 2024

Cost conscious consumers are looking for budget-friendly options. How do high-profile restaurant closures affect the restaurant real estate landscape and the real estate market in general? High-profile restaurant closures impact the restaurant real estate landscape and the broader real estate market in several ways.

Budgeting 100

Budgeting Marketing Magazine 100

Horizon Hospitality

APRIL 22, 2024

It means that senior living sales professionals need a different set of skills to be successful in today’s senior living landscape. They must focus on the information that is relevant to each prospect’s level of care needs, budget, and communication preferences. What does this mean?

Information 130

Information Budgeting Communication Marketing 130

Revenue Hub

AUGUST 21, 2024

The competitive landscape in the luxury hotel sector requires these properties to employ a mix of traditional and digital marketing techniques, each meticulously tailored to resonate with high-net-worth individuals. Partnerships with Luxury Brands (5-8%) : Collaborations with luxury brands (e.g.,

Marketing 83

Marketing Budgeting Events Article 83

Revenue Hub

SEPTEMBER 24, 2024

In the fast-paced landscape of digital marketing, staying ahead of the curve is crucial, especially for businesses in the travel industry. By strategically managing hotel metasearch advertising, Metadesk can optimize bids and budgets to enhance visibility and drive direct bookings.

Marketing 99

Marketing Book Presentation Article 99

Revenue Hub

MARCH 13, 2024

These figures paint a clear picture; metasearch is not just effective, it’s becoming increasingly efficient, allowing hoteliers to stretch their marketing budgets further. ACT FAST However, the metasearch landscape is far from static. One of our clients even saw their ROAS peak at an incredible 75:1 in Q2 2023!

Book 97

Book Article Budgeting Marketing 97

Revenue Hub

FEBRUARY 27, 2024

Hotels following this theory often define optimal performance as achieving budgeted production by segment, regardless of market or macroeconomics. Segments were seen as isolated revenue sources, with restrictions implemented if any segment (except direct) reaches its budget. Conversely, under-pricing will lead to low rated compression.

Pricing 100

Pricing Budgeting Book Article 100

Revenue Hub

JUNE 10, 2024

While this model has served us well, it presents limitations in today’s dynamic travel landscape. Recurring Revenue: Guests pay a predictable monthly or annual fee, guaranteeing income for the hotel and budgeting ease for the guest. Guests research, compare prices and book a room for a specific duration.

Pricing 88

Pricing Book Article Budgeting 88

Revenue Hub

SEPTEMBER 24, 2024

Online travel agents (OTAs) dominate the travel booking landscape. It’s legitimate and while you may not always want to attract the most ‘budget-conscious’ guests it will be a great source of bookings and revenue. Is this combination of a big reach and a focus on discounted rates a good thing for hoteliers? This is a judgment call.

Book 88

Book Article Pricing Budgeting 88

Modern Restaurant Management

JULY 9, 2024

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

Pricing Marketing Budgeting Communication 189

Hotel Owner

NOVEMBER 1, 2024

The design reflects Woking’s railway history and local landscape, with materials sourced from local suppliers. The UK Autumn Budget includes employment tax increases that will significantly impact the hospitality industry, according to UKHospitality.

Budgeting 52

Budgeting Catering Events 52

Revenue Hub

JULY 11, 2024

In today’s hotel landscape, we still often find hoteliers not being fully aware of the benefits of categorising their business into relevant segments. 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.

Marketing 80

Marketing Article Pricing Book 80

Hospitality Magazine

MARCH 22, 2023

Local hospitality operators are facing pressures due to inflation and staff shortages, but the industry is feeling confident in a pre-covid landscape. cents of every dollar dedicated of their food and beverage budgets at foodservice outlets compared to 37.2 cents pre-pandemic.

Budgeting 147

Budgeting Pricing Magazine Marketing 147

Hotel Owner

FEBRUARY 12, 2024

Contracted positions exceeded expectations, reflecting growth over previous years and outperforming set budgets. The resort also achieved key new milestones in business development and sales revenue in 2023.

Strategic Planning 52

Strategic Planning Budgeting Business Development 52

Hospitality Net

OCTOBER 17, 2023

easyHotel, the low carbon affordable hotel chain, is pleased to announce its trading results for the first half of 2023, delivering positive results as it continues to capitalize on strong market fundamentals in the budget travel segment.

Budgeting 40

Budgeting Marketing 40

Revenue Hub

JUNE 11, 2024

A Hotel Manager should be comfortable with using revenue management insights for strategic planning, including setting long-term goals, budgeting, and investment decisions. Additionally, understanding the competitive landscape, including competitors’ pricing strategies and market positioning, is vital for maintaining a competitive edge.

Strategic Planning 89

Strategic Planning Guest Satisfaction Article Pricing 89

Modern Restaurant Management

FEBRUARY 1, 2023

Traditional job advertising allows you to have a fixed budget while using old job data to inform decisions as to where to post your jobs. So, when your budget is declining, your job bids become scarce and can become lost in the sea of the internet. The key here is in understanding the two types of advertising – traditional v.

Budgeting 189

Budgeting Training Scheduling Pricing 189

Revenue Hub

APRIL 23, 2024

In today’s competitive hospitality landscape, hoteliers are constantly seeking ways to stand out and attract guests. Smarter Ad Spend: Marketing budgets are precious. AI helps you optimize your spending by prioritizing your budget and focusing on users most likely to convert into paying guests.

Marketing 90

Marketing Budgeting Book Information 90

MEWS

JANUARY 16, 2023

They generally appeal to a younger audience on a shoestring budget who is willing to forgo privacy to spend less. The future of hospitality While hostels and Airbnb started with the same model in mind of appealing to a budget traveler looking for a local experience, both continue to evolve.

Budgeting 130

Budgeting Reservations Book Housekeeping 130

Modern Restaurant Management

APRIL 18, 2024

It is a competitive landscape because restaurant owners navigate in order to select the best fryer for their demands and budget. This makes it tough for companies to capture the market share and have to resort to competitive pricing, complimentary services and providing excellent quality products.

Marketing 117

Marketing Procurement Budgeting Pricing 117

Revenue Hub

JANUARY 17, 2024

NB: This is an article from Userguest , one of our Expert Partners In this article, we’ll explore practical and effective ways for hoteliers to boost bookings and revenue in Q1 and Q2 of 2024 that align with the evolving landscape of travel and hotel trends.

Book 97

Book Pricing Article Marketing 97

Hotel Owner

MARCH 25, 2024

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.

Budgeting 98

Budgeting Communication Guest Satisfaction Marketing 98

Revenue Hub

JUNE 6, 2024

Accommodation providers – from hotels to serviced apartments – need more than just a tech plug-in to succeed in today’s digital-first landscape. But hotels often lack both the human and financial resources to make use of new systems, their hands tied by tight budgets and an ongoing struggle to recruit, retain and develop talent.

Article 87

Article Book Pricing Customer Service 87

The Restaurant Times

OCTOBER 26, 2023

Instead of offering an extensive menu with a limited budget, he recommended focusing on a specific cuisine initially. As the restaurant landscape evolves, culinary consultancy stands as a crucial force shaping its future. Two primary hurdles stood out in his experience.

Budgeting 52

Budgeting POS Systems Customer Service Communication 52

Modern Restaurant Management

SEPTEMBER 6, 2023

Without customer loyalty, it’s difficult to succeed in any business, particularly when you’re competing in a crowded landscape like hospitality. With the right consumer marketing solution, your restaurant can focus its efforts and budget on high-value customers, instead of those who’ve already churned.

Marketing 196

Marketing Server Information Customer Service 196

Revenue Hub

OCTOBER 19, 2022

Is the PMS landscape too confusing? Wondering if it’s even possible for non-branded properties without massive marketing budgets to beat the OTAs at their own game, and drive more bookings to their website? During this event, you’ll hear discussions around the following areas: Is the PMS truly the “heart” of the tech stack?

Events 93

Events Book Budgeting Marketing 93