Hotelogix

OCTOBER 19, 2023

To get a clear picture of your hotel compset analysis, you need to start with the following steps: Define your goals for competition, such as attracting more guests or increasing prices for greater revenue, or improving services compared to competitors. If you serve business travelers, select hotels in the same category.

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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. We analyze historical data alongside current bookings to gauge market trends and the impacts of events, and to understand the business mix. ” and “ What should we do next?

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Revenue Hub

JUNE 22, 2023

“Now, more than ever, hotel companies look to simplify their business at all levels in the face of labor shortages, supply chain disruptions, inflation, and economic uncertainty. This data aggregation scope is simply impossible for hotels relying on legacy pricing strategies.

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SiteMinder

JULY 13, 2024

Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Optimal strategies and techniques are dynamic, based on the understanding that hotel pricing is fluid and can change from one day to the next.

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Revenue Hub

JULY 24, 2023

This allows for better pricing and promotional strategies, ensuring a steady cash flow throughout the year. This can assist in determining appropriate pricing strategies. This helps in optimizing pricing strategies based on expected demand fluctuations.

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SiteMinder

SEPTEMBER 11, 2022

If you are wondering where to start, look no further than the traditional SWOT analysis for hotels: this tool is key to understanding your business, relative to the competition. Performing a SWOT analysis focuses your attention beyond immediate needs and enables you to take strategic action for your hotel business.

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The Restaurant Times

MAY 25, 2021

With lockdown restrictions easing and restaurant business slowly picking up the pace in the UK market, it is an excellent time to revisit your restaurant’s business plans. Cafe businesses can return to profitability provided they have a viable strategy and business plan in place. Business Overview.

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Les Roches

JANUARY 25, 2024

In the digital age, data can be the source of actionable insights, empowering businesses to make informed decisions that can shape lucrative strategies and create growth. Let’s look at the intriguing world of data analytics and it can be essential for any hospitality business. What is data analytics in the hospitality industry?

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Competitive Analysis Information Pricing Marketing 52

Xotels Hotel Revenue Management

SEPTEMBER 1, 2020

But opening a hotel business , just like any new company, is more difficult than it might seem at first sight. The hotel business is highly competitive and achieving good financial results is not as easy as it seems. The challenge, however, lies more in the strategic and organizational areas of the business.

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Revenue Hub

FEBRUARY 20, 2024

Key Revenue Management Trends for 2024 Effective revenue management includes a blend of technology, smart online marketing, competition analysis, and demand forecasting, to name a few. As you know, appropriate pricing is key to any profitable hotel. Then, when you review your future pricing, you can use them as a guide.

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SiteMinder

AUGUST 18, 2022

At your hotel you also need to perform regular competitive analysis to see where you stand in the local market and how you can gain an advantage, or at least maximise your potential revenue and profit. This blog will tell you everything you need to know about hotel competitor analysis. Establish your hotel’s competitive set.

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Synergy Suite

MAY 13, 2024

The allure of quick, affordable eats is undeniable, but with an industry so vast and competitive, it takes more than just a secret sauce to succeed. It will help you research and analyze your market, create a business plan, and provide tips for getting started. This is an indispensable step for every prospective business owner.

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Les Roches

JANUARY 26, 2024

Food and beverage (F&B) marketing refers to strategic processes implemented by businesses in the F&B sector to promote their products or services effectively. This approach aims to not only boost profitability but also drive overall financial growth for the business.

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The Restaurant Times

SEPTEMBER 15, 2020

With proper planning and resources, you can make your waffle business a booming success. Choosing the right location is extremely important for sustaining a waffle business. It is highly advisable to do a competitive analysis to understand how your competitors are doing in that location. Designing The Menu.

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The Restaurant Times

FEBRUARY 25, 2022

Read on to understand the solutions to tackle high restaurant failure rates and ways to run a successful business. So take your time choosing food products and buying them at more reasonable prices. Spend each penny wisely and make sure it is beneficial for the business. Thus, marketing has become a must for a thriving business.

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eZee Absolute

NOVEMBER 19, 2023

Over the years, the industry witnessed a tremendous rise in business. However, despite the gains, inevitable challenges in the accommodation sector make running hotel businesses a little more difficult. Running a hotel business isn’t a cakewalk. Travel and hospitality is a lucrative industry.

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Lithos POS

JANUARY 27, 2022

“ Around 63% of restaurants close within their first year and 85% don’t last more than five years “ This sounds like the thing that’s stopping you from getting into the restaurant business, but maybe it’ll be easier than you think. Management is an important part of a business. Management.

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