Hotelogix

NOVEMBER 28, 2024

Ever wondered why some hotels consistently outperform their competitors, even in challenging market conditions? The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape. 

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Modern Restaurant Management

DECEMBER 27, 2024

In 2024, restaurant traffic slowed while price sensitivity grew. Moreover, three out of four respondents believe restaurant prices are higher and high prices are the primary reason for cutting back on restaurant spending. Sustained loyalty is the goal in this highly competitive, price-driven market.

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InnQuest

AUGUST 8, 2023

Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.

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Hotelogix

JANUARY 19, 2025

If your hotel isn’t easy to find or doesn’t make a great first impression because of poorly optimized listings or outdated marketing strategy can lead to missed bookings and lost revenue. Unprofessional Photography: Dark, blurry, or poorly staged photos can deter even the most budget-conscious travelers.

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Modern Restaurant Management

JUNE 19, 2024

While two-thirds of guests say they would not dine at a restaurant that uses dynamic pricing, interest increases when the concept is framed as a discount offered through a membership for off-peak hours, according to the Summer 2024 Consumer Trends Report from Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine.

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Hotelogix

NOVEMBER 28, 2024

You don’t need a massive budget to make this happen. Letting AI Handle the Boring Stuff Behind every great guest experience is a ton of behind-the-scenes work room assignments, housekeeping schedules, pricing updates, you name it. At the end of the day, it’s not about flashy tech or big budgets. The best part?

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Revenue Hub

AUGUST 29, 2024

Managing marketing budgets effectively is crucial for any hotelier aiming to achieve sustainable growth in an increasingly competitive landscape. By carefully planning your marketing spend, you can maximise your return on investment (ROI), attract the right guests, and keep occupancy rates high throughout the year.

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Revenue Hub

JANUARY 8, 2025

Are your rooms priced too high, too low, or just right? At a time when hotel operating costs have soared to record levels, the need for optimal pricing is more important than ever. Discounting in the hotel business involves lowering room prices to increase demand. This can be a big advantage in a highly competitive market.

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Modern Restaurant Management

APRIL 14, 2025

-based diners who recently ordered from a QSR, fast-food or fast-casual chai also found that value is about more than just price. At the same time, 21 percent say they’ve increased their budgets in 2025 – showing that while some are pulling back, others still see dining out as a worthwhile indulgence.

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Modern Restaurant Management

OCTOBER 1, 2022

Restaurant marketing revolves around making your business known. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times.

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Hotelogix

NOVEMBER 7, 2024

This blog outlines simple, actionable strategies that hotels of all sizes can use to grow their business, from direct bookings to pricing strategies and everything in between. Promote a Best Rate Guarantee: Ensure guests know they'll get the best price when booking directly. For example, "Book now for 20% off on your stay!"

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Hotelogix

NOVEMBER 28, 2024

How to Pick the Right Channel Manager for Your Business There are hundreds of options in the market. Follow these practices to make the most of your system: Keep Rates Competitive - Adjust prices frequently based on demand, market trends, and competitor rates. Many systems offer automated pricing tools.

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Revenue Hub

JANUARY 6, 2025

This focus fosters strategic coherence and encourages every department to work together, from sales and marketing to operations. NetRevPAR takes the traditional RevPAR (Revenue per Available Room) metric a critical step further by accounting for all customer acquisition costssuch as distribution fees, marketing spend, and transaction charges.

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Budgeting Guest Satisfaction Accounting Article 109

Hotelogix

DECEMBER 17, 2024

What makes guests choose one hotel over another even when the price and amenities are nearly the same? Perfect Every Stage of the Guest Journey A powerful brand is built on consistent guest experiences, not just clever marketing. Align Your Pricing with Your Promise Guests see price as a reflection of value.   3.1.

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Revenue Hub

NOVEMBER 6, 2024

Hotels can lose 20% to 30% of potential guests – and the revenue that goes with them – simply because of poor online visibility,” Klaudia Chmielewska, Digital Marketing Manager at Profitroom, explains.“ Find the sweet spot where OTA commissions and your marketing budget optimise overall revenue.

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Revenue Hub

SEPTEMBER 18, 2024

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

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Boutique Hotel News

MARCH 15, 2023

UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. Contents of the Budget which affect hospitality includes: • From August, alcohol taxes on wines will rise by up to 50p a bottle but the duty charged on draught beer will be up to 11p lower than the duty in supermarkets. • million) will be abolished.

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Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

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Modern Restaurant Management

MARCH 19, 2020

Any restaurant or F&B business can leverage this form of marketing to their benefit, it just requires a little know-how in the realm of digital networking. For example, let’s imagine an online reviewer who exclusively reviews low-priced fast food restaurants. offer a gift voucher of $100).

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Revenue Hub

JANUARY 8, 2025

Tiered Memberships: Different pricing tiers provide varying levels of perks, from spa credits to early check-ins. Subscriptions provide consistent cash flow, allowing you to budget and invest with confidence. Destination Passes: Subscribers access properties in specific regions or cities, perfect for frequent travellers.

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Revenue Hub

JANUARY 14, 2025

A quirky or distinctive offer or strategy coupled with some great targeted marketing is sometimes all that is needed. We included gas cards, a smores kit, information on local attractions and a travel themed magnetic photo frame and priced it as a value add. Lets explore just a few of these creative ideas.

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Hotel Owner

DECEMBER 17, 2024

Among 25 European capitals, hotel prices have risen by 2.7%, while short-term rentals soared almost 8%- highlighting the growing demand for flexible, unique accommodation options this New Years Eve, according to a study by Almawave Group. Its not just about following trends; its about anticipating them and using data to lead the way.

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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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Modern Restaurant Management

OCTOBER 30, 2024

. "Value is a broader tent than price, but price is an important value platform when consumers are faced with high inflation or a personal economic situation such as a job loss," Tim Fires, president of global foodservice at Circana, told Modern Restaurant Management (MRM) magazine. "We

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Revenue Hub

DECEMBER 5, 2024

Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience. This disconnect means that any change in demand trends isn’t immediately visible to the pricing system, which continues to rely on historical data. But traditional forecasting models no longer cut it.

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Revenue Hub

MARCH 15, 2024

Hoteliers and revenue managers rely on effective hotel price monitoring to optimize revenue and maximize profitability. By understanding market trends, demand patterns, and competitor pricing strategies, hoteliers can adjust their pricing strategies in real time to attract more guests and maintain a competitive edge in the industry.

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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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Modern Restaurant Management

MARCH 23, 2023

Yet QSRs are slowing down price increases to meet tightening budgets. The average price flattened, up 14.0 Here, too, Revenue Management Solutions analysts anticipate further stability as we compare against the bullish price increases of 2022. Inflation remains an X factor for the year ahead.

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Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Plan for Gaps in Your Budget. That said, restaurants didn’t have COVID-19 written into their budget at the beginning of 2020.

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Revenue Hub

NOVEMBER 25, 2024

Take high-quality photos of your decorations to use in marketing materials such as website updates , social media posts, and ads. Embrace the Staycation Trend With rising costs affecting travel budgets, staycations are a popular alternative for those seeking a getaway close to home.

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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 can you use data to improve your pricing strategy? Do they have shared price sensitivities?

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Revenue Hub

DECEMBER 19, 2024

Dynamic pricing tools use algorithms to recommend the ideal rates and the right time. NB: This is an article from Lighthouse Subscribe to our weekly newsletter and stay up to date Price optimization works by collecting and analyzing data from sources like competitor rates, seasonal trends and external events. Lets review each.

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InnQuest

JULY 10, 2023

Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? 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.

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Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 ” To optimize your menu using value or bundled meals, remember the 3M’s: Measure, Market and Monitor. Effective marketing can bridge this gap.

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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. Top 10 Restaurant POS Systems and Their Features With so many restaurant POS options on the market, finding the perfect POS solution for your restaurant can feel overwhelming.

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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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Modern Restaurant Management

MARCH 18, 2025

As a result, experiential marketing continues to gain traction, with 71 percent of 13- to 39-year-olds seeking immersive brand activations that offer real-world engagement. This presents restaurants with an opportunity to offer smaller, snack-sized portions that satisfy emotional needs while remaining budget friendly.

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