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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Pricing Guest Satisfaction Blog Budgeting 220

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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Pricing Budgeting Magazine Marketing 180

Modern Restaurant Management

NOVEMBER 28, 2022

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. However, when the pandemic hit, people were less sensitive to prices. For these reasons, restaurants should factor technology into their 2023 budgets.

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Budgeting Customer Service Communication Pricing 201

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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Housekeeping Budgeting Demo Pricing 147

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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Pricing Guest Satisfaction Budgeting Definition 132

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. What Is Hotel Room Discounting?

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Pricing Book Article Budgeting 109

Revfine

OCTOBER 7, 2024

As budget season approaches, selecting the right Revenue Management System (RMS) is one of the most critical decisions a hotelier can make. Whether you manage an independent hotel, an urban property, or oversee multiple hotels, a well-suited RMS can optimize pricing strategies, enhance profitability, and simplify your operational processes.

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Budgeting Pricing 122

Hospitality Magazine

DECEMBER 1, 2024

Other considerations Budget Budget is often aligned with occasion and can vary greatly depending on your customers’ confidence with wine. There are quality Australian wines at all price points, and the customer will have a more enjoyable experience if you stick to their budget, and may be more inclined to order another bottle.

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Budgeting Pricing Accounting Magazine 130

Revenue Hub

MARCH 12, 2025

As we settle into 2025, independent hotels and small hotel groups face a rapidly evolving pricing landscape. Here are five pricing trends to watch along with strategies to help you stay on top of the opportunities and ahead of your competitors. But inflation hasnt just impacted travelers its hit hotels too.

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Pricing Article Book Budgeting 57

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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Budgeting Housekeeping Pricing Article 104

Revenue Hub

AUGUST 29, 2024

Managing marketing budgets effectively is crucial for any hotelier aiming to achieve sustainable growth in an increasingly competitive landscape. Here’s how to manage your hotel’s marketing budget effectively with these considerations in mind.

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Budgeting Marketing Book Pricing 109

Hotelogix

FEBRUARY 13, 2025

While big brands and hotel chains have dedicated departments and sufficient budgets to handle their sales and marketing online, small hotels find it tough due to inadequate budget, less manpower and absence of technology knowledge to market themselves online.

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Marketing Budgeting Blog Reservations 130

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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Pricing Book Events Demo 130

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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Pricing Travel and Tourism Budgeting Marketing 52

Hotelogix

NOVEMBER 28, 2024

Whether it's business travelers seeking efficiency, luxury seekers craving unique experiences, or budget-conscious families planning their vacations, each group has distinct needs and preferences that present unique revenue opportunities. Consider factors like booking windows, length of stay, and seasonal preferences.

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Marketing Guest Satisfaction Book Budgeting 100

Hotelogix

FEBRUARY 13, 2025

They have big budgets and entire teams dedicated to marketing, making it tough to stand out. Can’t match big hotel marketing budgets Hard to get noticed on booking sites Struggle to offer the same perks as chains Here’s what you can do: Show off your uniqueness: Are you family-run? But being smaller gives you an edge.

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Marketing Book Reservations Pricing 130

Hotelogix

NOVEMBER 28, 2024

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. Focus your efforts and marketing budgets accordingly. Use these to stay on top of potential issues.

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Book Property Management Reservations Pricing 130

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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Article Budgeting Pricing Presentation 109

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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Budgeting Pricing Article Marketing 102

Hospitality Magazine

MARCH 3, 2025

This tells us that for many Australians, the ease and enjoyment of dining out often takes priority over sticking to a budget.” “This suggests Australians arent just paying more due to price increases they are actually dining out more often or splurging on higher-end meals.” research and data expert.

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Budgeting Catering Pricing Magazine 130

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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Pricing Budgeting Communication Magazine 100

Revenue Hub

JANUARY 6, 2025

This allows you to focus your marketing budget and sales efforts on segments with the highest net contribution, ultimately boosting profitability and enhancing your market position. For instance, direct bookings from a particular market segment may carry lower acquisition costs, resulting in a higher NetRevPAR.

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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? Align Your Pricing with Your Promise Guests see price as a reflection of value. Guests want comfort, convenience, and thoughtful touches without the premium price tag.

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Pricing Book Marketing Budgeting 130

Revenue Hub

NOVEMBER 6, 2024

Find the sweet spot where OTA commissions and your marketing budget optimise overall revenue. Competitive Pricing vs. Value Add: While OTAs often focus on price comparisons, your direct channels can emphasize unique value propositions. Aim for a mix that provides both immediate bookings and repeat business.

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Book Article Definition Pricing 109

Hotelogix

JANUARY 5, 2025

Shopping Ads: If you have special deals, you can show them with prices in search results. Hotel Ads: These show your hotel’s prices and info directly in Google Search and Maps. When someone searches for hotels, your ad shows up with your prices and photos. Add info about your hotel, rooms, and prices.

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Book Pricing Budgeting Demo 100

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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Book Article Budgeting Pricing 109

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. This enables you to make informed decisions on the fly, such as adjusting your menu, changing prices, or maximizing staffing levels.

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Pricing POS Systems Server Scheduling 52

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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Pricing Book Marketing Article 109

Revenue Hub

JANUARY 14, 2025

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. Clever Pricing Pricing success starts with strategically pricing to who we compete with by understanding their features and benefits versus our own.

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Pricing Events Marketing Budgeting 105

Hospitality Net

SEPTEMBER 13, 2024

Expedia has heavily invested in its ARM (Automatic Rate Match) tool to ensure it offers the best prices and wins bookings on its platform. With billion-dollar budgets and countless hours spent researching guest behavior, Expedia sets a clear example. Price matching is not just a trend but a tactic for staying competitive.

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Pricing Budgeting Book 95

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.

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Pricing Book Article Budgeting 97

Revenue Hub

OCTOBER 10, 2024

You want to be sure you’re offering minimum pricing that’s beneficial for your company’s bottom line, and that makes sense for your customers. Catering budget : A required minimum amount to be spent on catering to reserve the event space. Event minimums are nothing new, but determining the amounts can be challenging.

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Pricing Events Catering Maintenance 109

Modern Restaurant Management

JUNE 1, 2022

How value engineering can be a restaurant construction solution in the face of rising prices and unpredictable supply chains. As the prices of construction materials skyrocket due to rising inflation and supply chain woes, budgeting for commercial development has become significantly more challenging. Starting with Finishes.

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Budgeting Maintenance Pricing Back of House 208

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

Hospitality Magazine

SEPTEMBER 16, 2024

From cyber security, tipping, and payment solutions to financial wellbeing, practical business advice, and produce price tracking, technology innovators are helping each part of the industry run more effectively and efficiently. Its new price tracking feature allows purchasers to access real-time pricing across 4,000 items and suppliers.

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Pricing POS Systems Training Budgeting 231

Modern Restaurant Management

MARCH 24, 2025

Many of the restaurant brands on the list, like Dave’s Hot Chicken and Cava, are thriving by offering high-quality, and on-trend food at accessible prices. Why is breakfast booming, and will you anticipate that being affected by egg prices? While value has always mattered, it’s now a dominant factor in brand growth.

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Pricing Budgeting Magazine Marketing 88

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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