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.

Budgeting 230

Budgeting Communication Training & Development Marketing 230

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.

Pricing 109

Pricing Events Budgeting Presentation 109

Hotelogix

JANUARY 19, 2025

Standing out doesn’t require an enormous budget or complex tools, it requires the right strategy and the essentials like SEO to boost visibility, reviews to build trust, and technology to streamline operations. Unprofessional Photography: Dark, blurry, or poorly staged photos can deter even the most budget-conscious travelers.

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Marketing Book Budgeting Blog 100

Revenue Hub

MARCH 31, 2025

Consider offering: Late check-out or early check-in Complimentary spa access or a welcome drink Dining credits or a free upgrade The key is to present these packages as relaxed, flexible escapes, not just budget-friendly stays. This type of localised, timely content often performs well in both organic search and paid campaigns.

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Book Presentation Events Article 65

Hotel Business

DECEMBER 18, 2024

The Federal Trade Commission has issued a final Junk Fees Rule to prohibit bait-and-switch pricing and other tactics used to hide total prices and bury junk fees in the live-event ticketing and short-term lodging industries. The commission received more than 60,000 additional comments which it considered in developing the final rule.

Pricing 59

Pricing Events Budgeting Presentation 59

Revenue Hub

JANUARY 28, 2025

The world of pricing and revenue management is entering a new era. Managing demand fluctuations, optimizing pricing strategies, and staying ahead of competitors requires navigating mountains of data. For instance, they may ask, Are we at $250K compared to the $300K budget target?

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Pricing Presentation Article Budgeting 70

Modern Restaurant Management

AUGUST 6, 2024

66 percent of consumers believe a desirable experience is more important than price and convenience. Recovering from a disappointing experience presents an opportunity to showcase your brand's values. Many prioritize experience over price and convenience, indicating a fundamental shift in value perception.

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Pricing Accounting Presentation Budgeting 197

Modern Restaurant Management

DECEMBER 17, 2024

On the challenges sustainability presented in 2024, and how to balance sustainable sourcing and practices with cost concerns in the new year: Several key challenges arise when it comes to sourcing sustainable ingredients. Thus, finding the right balance between maintaining high quality and keeping prices reasonable is crucial.

Marketing 167

Marketing Pricing Customer Service Catering 167

Revenue Hub

NOVEMBER 8, 2023

You knew it was coming – it happens every year – but budget season was hectic so you pushed it to the bottom of your to-do list until… “What are we doing for Black Friday this year?” can be used to save you time (and budget!) Finding the right hotel at the right price is crucial for all guests.

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Book Budgeting Blog Pricing 104

Modern Restaurant Management

DECEMBER 21, 2021

While some brands have already begun passing costs on to consumers without too much pushback (Chipotle, McDonald’s), brands will need to closely monitor customer response, as value-oriented customers are likely to begin to be more price sensitive as they also feel pressure from inflation.

Kitchen Operations 196

Kitchen Operations Back of House Pricing Marketing 196

Larry Mogelonsky

DECEMBER 2, 2024

Something that many of us have felt and others have put into numbers is the megatrend of luxury hotel rates growing at an outsized pace relative to in-market comparisons from other budget, midscale and even upmarket hotels. Luxury is privacy. Luxury is exclusivity. Luxury is anticipatory and personalized service.

Budgeting 130

Budgeting Definition Pricing Marketing 130

Modern Restaurant Management

APRIL 24, 2023

Offer a Fixed-Price Catering Menu Inclusive of Desserts The catering menu needs to be very clear on what is included in each package, and we try to wrap as much into those orders as possible. What we do is just include dessert with our catering and we build it right into the price. And you’re getting them for free!).

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Catering Pricing Server Marketing 197

Hotelogix

JULY 18, 2024

It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. Benefits of Hotel Forecasting Optimized pricing: Accurate hotel demand forecasting enables dynamic pricing strategies that maximize revenue and occupancy. What is Hotel Forecasting?

Guest Satisfaction 130

Guest Satisfaction Budgeting Book Pricing 130

InnQuest

SEPTEMBER 12, 2023

This includes advertising, promotions, pricing strategies and partnerships with travel agencies and online booking platforms. Financial Management: Effective financial management involves budgeting, revenue tracking, cost control and financial reporting. Continuously monitor and adjust pricing strategies to maximize profitability.

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Maintenance Guest Satisfaction POS Systems Housekeeping 220

Modern Restaurant Management

OCTOBER 13, 2022

Just as restaurants were on the path toward recovery after COVID-19 closures and safety restrictions, the current economic conditions continue to present challenges for the industry. These numbers may be troubling, but to address these issues, restaurants must focus on providing the best service they can within their budgets.

POS Systems 180

POS Systems Download Pricing Marketing 180

Hotel Business

JUNE 28, 2023

The overall price of lodging has climbed 23.6% won’t let rising prices stop them, with a majority (77%) planning to dip into their savings this year to travel. When determining the budget for their trips, 37% are most likely to plan a low budget trip with 47% likely to plan a moderate budget trip.

Budgeting 105

Budgeting Pricing Book Presentation 105

Revenue Hub

APRIL 22, 2024

The absence of marketing at key points in a traveler’s booking journey due to budget restrictions should be recognized for what it is—opportunity cost. Your marketing and distribution alarms should be firing – this is the most critical time for your property to be present in the booking journey. Opportunity maximized.

Budgeting 109

Budgeting Book Presentation Marketing 109

Modern Restaurant Management

AUGUST 2, 2024

As a result, they are making hard decisions to adjust prices and make menu changes. Many disgruntled customers take to the internet when presented with a cancellation fee or if they only receive a partial refund and leave negative reviews, affecting the restaurants’ brand in the process. LTO Impact A new Placer.ai

Pricing 100

Pricing Training Marketing Book 100

Revenue Hub

JUNE 10, 2024

You can price the subscription plans based on your location, the amenities you offer and a handful of other key factors. But don’t be fixated on a price, remember flexibility is the key. Guests research, compare prices and book a room for a specific duration.

Pricing 108

Pricing Book Article Budgeting 108

Boutique Hotel News

JANUARY 16, 2023

Rising costs spur budget increases . Eighty-one per cent in total say their budget will rise, including 26 per cent who predict it will increase significantly. Only around one in six travel managers (15 per cent) believe their budget will decrease. Supplier takeaway. Travel managers have new needs when sourcing hotels .

Budgeting 130

Budgeting Download Events Pricing 130

EATER

FEBRUARY 26, 2025

Theres something here for every price point and to suit all manner of giver and receiver, as long as they have taste as good as yours. More than that, both present philosophies around preparing food, feeding ourselves, and feeding each other that go to the heart of what makes a house a home. And if the new homeowner is a cheese fan?

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Pricing Presentation Definition People Development 109

eZee Absolute

DECEMBER 22, 2024

How Hotels Can Leverage Mahakumbh 2025: Strategies for Success The Mahakumbh 2025 presents an extraordinary opportunity for hotels to boost revenue, build long-term guest relationships, and position themselves as leaders in the hospitality industry. During the 2013 Maha Kumbh, the event generated approximately 12,000 crore ($1.45

Travel and Tourism 52

Travel and Tourism Book Reservations Events 52

Revenue Hub

MAY 2, 2024

A handful of multi-brand conglomerates are now dominating the market across segments from luxury to budget. Often, specialized brands may struggle against more traditional offerings, as customers may overlook or not fully appreciate a brand’s uniqueness and positioning; and solely compare properties based on price.

Article 108

Article Pricing Marketing Customer Service 108

Hospitality Magazine

JULY 10, 2023

The Hospitality Leaders Summit returns to Melbourne in less than 3 weeks – and time is running out to secure two tickets for the price of one. The Hospitality Leaders Summit will also offer delegates a lesson in menu planning with Ian Curley, who will reveal how he balances budget with creativity. So what are you waiting for?

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Menu Planning Presentation Budgeting Training 100

EATER

SEPTEMBER 11, 2024

Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? Or maybe the answer just keeps shaking out in one direction. Was it worth it?

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Pricing Definition Front of House Server 145

Hotel Owner

OCTOBER 17, 2023

The investment is priced attractively and at the quoted price it is also substantially underpinned by its vacant possession value.” With an Average Daily Rate (ADR) of £69, Newcastle has the lowest ADR of all the regional markets, presenting an attractive proposition for budget-friendly overnight stays.

Marketing 98

Marketing Pricing Budgeting Presentation 98

Revenue Hub

SEPTEMBER 24, 2024

These platforms allow potential guests to compare prices, amenities, and reviews across multiple hotels in real time, simplifying the decision-making process. Enhancing visibility and direct bookings: For hotels and resorts, appearing on metasearch booking engines is more than just being present; it’s about maximizing visibility.

Marketing 109

Marketing Book Presentation Article 109

Revenue Hub

NOVEMBER 9, 2023

NB: This is an article from Topline Revenue , one of our Expert Partners Yet, group bookings present a unique challenge. 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.

Book 109

Book Pricing Guest Satisfaction Article 109

Revenue Hub

NOVEMBER 9, 2022

This article discusses the three most important strategies hotel revenue managers must use to boost revenue and how a revenue management system (RMS) is being used to forecast demand and automatically perform dynamic pricing. Dynamic pricing. For this reason, it is sometimes referred to as time-based pricing. Key takeaways.

Pricing 97

Pricing Competitive Analysis Article Book 97

Modern Restaurant Management

FEBRUARY 5, 2021

." Plant-based eaters are fortunate in that meat-free meals tend to cost less than their non-veggie counterparts (such as seafood, steaks, and roasts) — which is a good thing considering more people are dining out on a budget following the economic troubles of 2020. Greatest Emphasis on Clean Healthy Food.

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Budgeting Presentation Pricing Information 181

Modern Restaurant Management

NOVEMBER 27, 2024

As America budgets for the holidays, in-home hosting activity is set to rise by 6.3 Topping the list is Ginza Kitafuku in Tokyo, Japan, featuring a seasonal Echizen Crab Kiwami course priced at $2,130 USD. Nearly 29 percent of U.S. population. percent, creating challenges for an already struggling restaurant industry.

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Back of House Catering Budgeting Pricing 88

Revenue Hub

JUNE 26, 2024

Revenue management is about selling the right product, at the right time, to the right guest, at the right price, through the right distribution channel. This thorough analysis supports our forecasting, which is crucial for effective budgeting. We then set pricing and distribution strategies based on this information.

Competitive Analysis 113

Competitive Analysis Presentation Budgeting Marketing 113

Revenue Hub

OCTOBER 3, 2024

Now, interestingly, no one would ever consider for a minute trying to do transient room pricing without knowing what their competitors are charging? So not only will you get the rates, you’ll also see how are your competitors presenting themselves? That’s not what we do. We look outside the four walls of the hotel.

Budgeting 104

Budgeting Catering Pricing Scheduling 104

Revenue Hub

APRIL 17, 2024

Since then, revenue management has taken its rightful place at the table but is still sometimes viewed simply as pricing strategies and inventory control. With abundant competition and limited marketing budgets, spending resources where they’ll do the most good and merchandising results are critical.

Marketing 108

Marketing Information Budgeting Reservations 108

7 Shifts

DECEMBER 18, 2019

With proper plating and presentation, just about any meal can be Instagrammable! Offer student discounts Most students live on a shoestring budget and are always on the lookout for discounts, deals, and other ways to save money. Create a fixed-price ‘Mix and Match’ menu with soups, salads, and sandwiches for customers to choose from.

Catering 145

Catering Pricing Presentation Events 145

Modern Restaurant Management

MARCH 11, 2025

. – Sophia Goldberg, Founder and CEO, Ansa The big lesson I learned is that I've had to continue to adapt my pricing, because people are still watching their spending. That's why we instituted lower-priced lunch specials and made other adjustments. – Stewart McClintic, Co-Owner of HQ98.com,

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Communication Server Pricing Scheduling 88

Revenue Hub

JULY 13, 2023

Through this analysis, they may discover that their competitor offers higher-priced menu items. This presents an opportunity for Hotel 1 to increase its prices, thereby boosting its revenue while still remaining competitive.

Competitive Analysis 98

Competitive Analysis Pricing Article Budgeting 98