eHotelier

MAY 9, 2024

Effective pricing strategies are crucial for capturing consumer attention and driving sales. Leveraging psychological biases and tricks can profoundly influence consumer perception and behavior, so let's explore several proven pricing strategies that smartly use human psychology to enhance business success.

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Revenue Hub

DECEMBER 12, 2024

But we do compete with them for business. It also means monitoring their offerings and pricing. This includes: Location: Properties in a similar geographic region, close to the same attractions, activities, beach, shopping, entertainment, or businesses. Pricing: Properties that offer similar room types at similar prices.

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Hotelogix

NOVEMBER 28, 2024

Managing bookings across multiple channels has become a core part of running a successful hospitality business. How to Pick the Right Channel Manager for Your Business There are hundreds of options in the market. Many systems offer automated pricing tools. Pay attention to the results seen by other businesses in your sector.

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Revenue Hub

DECEMBER 3, 2024

Price optimization and sensitivity analysis are essential tools for refining your pricing strategy to maximize revenue. This method is highly effective in predicting how changes in features or pricing might influence consumer choices and market share.

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Modern Restaurant Management

NOVEMBER 18, 2024

Is your business as well-protected as it should be? As a business owner, safeguarding your investment from potential losses—whether from the public or your own employees—is essential. Society Insurance outlines five reasons why every business owner should have an effective video surveillance system.

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Revenue Hub

JANUARY 15, 2025

They will also flag periods of unexpectedly high demand when you can increase pricing and earn more revenue. Well explain how to use forecast insights to optimize pricing and inventory, improve operational planning, and not just meet budget targets but exceed them. Fine-tune pricing: Adjust pricing based on demand to maximize revenue.

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Hospitality Magazine

MARCH 19, 2025

As the cost of coffee beans surge and cafes push prices towards $7 a cup, the industry is being forced to examine how to keep customers coming back and how much they can charge before customers walk away. Why should it be a third of the price of an average pint of beer? asks La Marzocco Australia Sales Manager Brydon Price.

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Revenue Hub

OCTOBER 31, 2024

Hotel buyouts present a compelling business opportunity that delivers both financial stability and operational efficiency. Read the full article at Tripleseat The post Hotel Pricing for Buyouts: How to Maximize Revenue with Groups appeared first on Revenue Hub.

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eHotelier

APRIL 10, 2023

By analysing guest data, using dynamic pricing strategies, leveraging pricing psychology, personalizing offers, and providing staff with the right tools and training, hotels can improve overall business performance.

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Hotelogix

DECEMBER 19, 2024

This is what hotel business intelligence software accomplishes. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. Understanding Hotel Business Intelligence Hotels create vast amounts of data. Hotel business intelligence steps in to address this question.

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Revenue Hub

NOVEMBER 19, 2024

Myth 1: A Siloed System Is Business Intelligence In the hotel industry, it’s common to use separate systems for reservations, property management, customer relationship management (CRM), and accounting. Let’s dive in and discover how dispelling these myths can unlock untapped opportunities for growth and excellence in your hotel.

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Hospitality Magazine

FEBRUARY 3, 2025

. “Through this partnership, were making it easier for families and small businesses to get what they need at Costcos low prices, delivered directly to their doorstep.

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Pricing Magazine 246

Hospitality Magazine

OCTOBER 15, 2024

The news comes as the latest blow for the sector during the current cost of living crisis, with CreditorWatch research recently revealing that hospitality businesses are most at risk of failure. The post Hospitality staff priced out of rentals appeared first on hospitality | Magazine.

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Revenue Hub

FEBRUARY 21, 2025

With multiple competing hotels likely right across your street corner, establishing an effective hotel pricing strategy is paramount to ensure your hotels long-term success. A well-crafted pricing approach not only reflects the value proposition of the property but also adapts to market dynamics, consumer behavior, and operational costs.

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Pricing Guest Satisfaction Article Book 91

Hospitality Magazine

JULY 16, 2024

New figures from CreditorWatch’s June Business Risk Index paint a grim forecast for hospitality operators, with 1 in 11 businesses predicted to fail in the next 12 months. The business failure rate has increased by 8.8 The hospitality business failure rate is forecasted to rise from 7.5 per cent to 9.1

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Hospitality Magazine

MARCH 17, 2025

Gaffey joins Hospitality to share her tips on social media, customer engagement, and starting a prosperous business. I always knew that I wanted to start my own business. The wine needs to be good – but so does the price point. Tell me about Gracies where did the idea come from and how did you bring it to life?

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Modern Restaurant Management

JUNE 12, 2024

Have you completed a small business checkup at your restaurant lately? If you are experiencing the opposite: if check sizes and alcohol sales are declining, employee turnover is increasing, and vendors are refusing to deliver without receiving payment in advance, then your business is not thriving, he warned.

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Revenue Hub

APRIL 23, 2025

In the event industry, one of the most critical decisions for any venue – whether a restaurant, hotel, or unique space – is setting the right price for your event offerings. Lets go into the best practices for pricing your venues event space. What is an Event Pricing Strategy? What is an Event Pricing Strategy?

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EATER

APRIL 11, 2025

A meal of eggs, rice, and soy sauce carried me through times when I couldnt afford much else, but now that Ive seen prices in Los Angeles skyrocket to $14 for a dozen, they feel less like part of the struggle meal and more like a luxury. Worries about prices and bird flu were for the outside world. The employee seemed confused.

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Modern Restaurant Management

MARCH 26, 2025

“Every guest touchpoint–whether it’s a dine-in experience, an online order, or even a response to a review – can influence future business,” Mike Eng, Senior Director of Vertical Expansion at Klaviyo, told Modern Restaurant Management (MRM) magazine.

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Modern Restaurant Management

JANUARY 20, 2025

Like you, they’re in this business to turn a profit. These chefs might know how to source the finest ingredients, but no one’s taught them how to negotiate the price of those ingredients or keep suppliers from quietly eating away at their profits. This isn’t a knock on them. Let’s get started.

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Hospitality Magazine

NOVEMBER 6, 2024

One night, when I was busy making limoncello, I had the idea to try it and see what it would turn out like,” says Micallef. Cicchio is priced at $28 a bottle and is available from Zonzo Estate, Dan Murphy’s, and independent retailers.

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Pricing Magazine 246

eHotelier

FEBRUARY 9, 2023

How can you make sure that the system’s responses completely align with your company’s business strategy? And what part does your team play in this? Here are three steps to achieve a balance at your hotel to foster solid collaboration between your team and their AI-based helpers.

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Modern Restaurant Management

OCTOBER 14, 2024

For restaurants, especially those operating on thin margins, these fees can influence pricing strategies, profitability, and even operational decisions. This includes higher prices and reduced cash flow. By incentivizing customers to pay with cash, businesses can offset the costs associated with credit card processing fees.

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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. What Is Hotel Room Discounting?

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Pricing Book Article Budgeting 109

Hospitality Magazine

FEBRUARY 12, 2025

Lightspeed’s State of the Industry Report is compiled from customer (2,004) and business surveys (1,004) answered by owners and decision-makers at bars, restaurants, and cafes in Australia. Data showed venues updated their menus 53 times per year, depending on business type and annual revenue.

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Hotel Business

NOVEMBER 22, 2024

Ancillary revenue and events will have a renewed focus: Room pricing pressure will play a role in the increased adoption of online booking and dynamic pricing for meetings and events. By leveraging data-driven insights and innovative solutions, businesses can optimize revenue, enhance guest experiences and build sustainable models.

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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.

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Revenue Hub

JANUARY 10, 2025

On the other, it raises concerns about replacing human-led processes with artificial intelligence (AI) and machine learning (ML), leading to fears of job displacement and diminished human touch in business. This reduces the time and effort required for routine tasks, such as gathering data or creating pricing models.

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Pricing Guest Satisfaction Book Marketing 109

Hospitality Magazine

FEBRUARY 21, 2024

Create unique and high-caliber content Food content is big business on social media and it’s time to take a multifaceted approach to posting. Establish your digital presence This one goes without saying and the following platforms are essential: a website, Google business profile, and social media accounts.

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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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Revenue Hub

JANUARY 8, 2025

One example is hotels that rely on static pricing. Whereas hotels implementing revenue management principles use dynamic pricing, optimize occupancy, have a strong brand reputation, and much more. Hotels Are An Easy Business A surprising number of people think running a hotel is easy. Are price and quality always equal?

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Soft Inn

FEBRUARY 6, 2025

If you operate a hotel in Perak, Malaysia, understanding the Local Service Charge (LSC) is essential for compliance and smooth business operations. This charge, which applies to accommodations in specific municipal areas, directly impacts pricing, guest invoices, and financial planning.

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Pricing 130

Revenue Hub

APRIL 24, 2025

Revenue Management Systems (RMS) have become an indispensable component of modern hotel operations, offering the ability to dynamically optimise pricing, forecast demand, and ultimately maximise revenue. Group Evaluations: Improved decision-making in regards to groups business and displacement impact on transient business.

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Revenue Hub

NOVEMBER 28, 2024

NB: This is an article from RoomPriceGenie , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Today, hoteliers recognize that they can generate more revenue by being more targeted in their pricing – by offering different rates to different segments of guests.

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Hotel Owner

JANUARY 13, 2025

To maintain momentum, hotels must focus on strategic marketing, dynamic pricing, and a tailored guest experience. Theres also heightened competition with other hospitality businesses offering deeper discounts to attract bookings. At this time of year, pricing flexibility is key.

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Revenue Hub

OCTOBER 28, 2024

But it’s not as simple as having the lowest price or the most reviews. Photos, descriptions, and competitive pricing all influence this, but don’t ignore the little things that can nudge someone from ‘just looking’ to ‘I’m booking’. Price & Availability OTAs love consistency. Price Consistency On Booking, parity matters.

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