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 They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

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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

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

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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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

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. Subscribe to our weekly newsletter and stay up to date Our recent survey identified the key things that influence travelers when making vacation decisions and how price plays into it.

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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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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. The hotel sets the room rates based on the market and competitor rates, which apply to everyone.

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SiteMinder

SEPTEMBER 10, 2023

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets. Here are the steps involved: 1.

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Hotel Business

FEBRUARY 1, 2024

According to the 2024 State of the Meetings Industry report from Knowland and ConferenceDirect , pricing continues to be an issue with 47% of meeting planners. Highlights from the survey include: The rise in F&B and AV prices of up to 50% is a game changer for event design and production.

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Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Don’t worry, we’ve got you covered! Let’s dive in!

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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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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. Let’s start with the steps in budgeting for hotels. Is budgeting critical in hotels? This process is meticulous and time-consuming.

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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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STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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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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Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? Pricing: Have We Reached a Ceiling? percent in 2022 to 6.8

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Revenue Hub

JUNE 25, 2024

As long as a hotel fits within a traveler’s budget and is in the right location, they’re likely to splurge and pay a little bit extra to guarantee a positive guest experience. One study by Cornell University estimated that a 1-point increase in user review score (on an OTA’s 5-point scale) would allow a property to increase prices by 11.2%

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Hotel Owner

MAY 15, 2023

“I think because we focus on the basics, consumers recognise that and reward us for paying the right price, for the right product and not for things that they don’t need,” says Karim Malak, CEO of Easyhotel. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate.

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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. In this blog post, we will focus on the key aspects of metasearch and its pivotal role in shaping effective travel marketing strategies.

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Modern Restaurant Management

APRIL 18, 2024

The global restaurant fryers market is projected to grow at a CAGR of 5.6 The market sales are on course to increase from US$ 495.6 Million by 2033, according to Future Market Insights. It is a competitive landscape because restaurant owners navigate in order to select the best fryer for their demands and budget.

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Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. Unfortunately, the traditional marketing tech stack that restaurants have long relied on is outdated, overpriced and ineffective in today’s digital ecosystem.

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Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Revenue Hub

JANUARY 13, 2023

Digital marketing in the hotel and hospitality industry is now crucial in order to get your hotel noticed by both new and existing customers. This then begs the question, what is hotel digital marketing? Simply put, it’s a term used to cover a number of marketing channels and methods utilised to promote your hotel online.

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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. Simultaneously, it allows you to keep an eye on cost effectiveness in order to market your hotel in the best possible way. But let’s take a look now what’s behind all of this.

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Revenue Hub

FEBRUARY 9, 2023

While demand for air travel is expected to continue rising in 2023 as Asia Pacific opens, it will be essential to ensure airlines are paying attention to travelers’ needs and expectations to develop their airline marketing strategy. As economic pressures rise in 2023, price will continue to impact how travelers make their decisions.

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Pricing Budgeting Book Article 92

Hotelogix

OCTOBER 11, 2024

Hopper’s predictive pricing feature helps travelers find the best rates, using AI to track price changes and recommend the right time to book. The app offers a wide range of hotel options (budget-friendly to luxury accommodations), which makes it the most trusted choice for travelers of all types.

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Revenue Hub

JANUARY 30, 2024

A commercial strategy platform uses data from revenue, sales and marketing to identify the correlating data trends to provide insight relevant to each discipline. Revenue, sales, and marketing have their own departmental goals that determine how they are evaluated. They want marketing to spend more during times of low demand.

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Revenue Hub

JANUARY 11, 2024

There’s no shortage of ways to market your hotel. With so many marketing channels and blogs with bright ideas, it can get confusing about which shiny new marketing trend you should hop on board with. Google Hotel Ads: If you have the budget, Google Hotel Ads can get you listed within the top four paid results.

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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

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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Modern Restaurant Management

AUGUST 2, 2024

As the landscape changes, 39 percent of leaders said they’re prioritizing investments in sales, marketing, and related technologies for the rest of 2024. As a result, they are making hard decisions to adjust prices and make menu changes. LTO Impact A new Placer.ai

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Revenue Hub

SEPTEMBER 27, 2023

This is why is very common that in the industry most hoteliers put all their effort on transactional marketing. Subscribe to our weekly newsletter and stay up to date Why transactional marketing is not enough in the hotel industry? Transactional marketing in the hotel industry focuses on short-term, one-time interactions with guests.

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Hotel Owner

OCTOBER 17, 2023

The Leonardo Hotel at St James Gate in Newcastle has been brought to market on behalf of a UK investment fund, with offers of over £31.8m The investment is priced attractively and at the quoted price it is also substantially underpinned by its vacant possession value.” being sought. In 2022 occupancy was 74.2% compared to 73.2%

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Revenue Hub

APRIL 17, 2024

Rapidly advancing technology and ever evolving guest expectations have given rise to the opportunity for substantial transformation in roles traditionally siloed into the areas of marketing and revenue management. At the same time, marketing existed at the brand level and largely in the form of printed ads, collateral, and consortiums.

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Hotelogix

JULY 11, 2024

As an independent hotel owner, you understand the challenges of driving revenue in a competitive market. From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Maximized revenue: By optimizing pricing and inventory, you can boost overall revenue of your hotel. 

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Serviced Apartments

MARCH 6, 2024

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

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