Revenue Hub

DECEMBER 5, 2024

Knowing where to list your hotel and the prices to charge can be tricky, especially for busy operators of small, independent properties. Here we explain the essentials of hotel distribution and pricing. What are the pros and cons of different distribution channels? And how can you make your property stand out?

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Pricing Book Article Reservations 108

Hotelogix

OCTOBER 18, 2023

A hotel reservation system is far more than a booking tool.   As technology continues to reshape the hospitality landscape, the importance of an effective reservation system cannot be overstated—it's the key to unlocking efficiency and excellence in modern hotel management.

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Reservations Book Information Guest Satisfaction 100

InnQuest

OCTOBER 24, 2023

In today’s fast-paced hospitality industry, selecting the right reservation system is crucial for the success of your hotel. Understanding the impact of your hotel reservation system on your business is key. Despite the rising popularity of OTAs, direct bookings continue to hold their own in the competitive landscape.

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Reservations Book Pricing Guest Satisfaction 130

InnQuest

OCTOBER 17, 2023

Here’s a brief explanation of the reasons why hotel overbookings happen: Uncertain Cancellations: Hotels anticipate a certain percentage of reservations to be canceled. Revenue Maximization: In a bid to maximize revenue, hotels often accept more reservations than their actual room inventory.

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Reservations Guest Satisfaction Book Pricing 221

7 Shifts

DECEMBER 18, 2023

But there are several different tools to help you manage your restaurant—from single shifts and tasks to top-level overviews showing your business's health. These tools can help you start spending more time doing what you love and growing your business for the future. Your team can also adjust reservations directly.

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POS Systems Scheduling Reservations Communication 158

Hotelogix

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. Booking Mistakes: Sometimes, guests might accidentally double-book or forget about their reservation. Guests might change their plans unexpectedly, contributing to increased no-show rates during busy periods.

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Reservations Guest Satisfaction Communication Book 130

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. Some hoteliers believe that the reporting capabilities within these individual systems equate to a comprehensive BI solution.

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Guest Satisfaction Reservations Information Article 107

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 and why should you set business objectives for your property? How and why should you set business objectives for your property?

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Pricing Book Marketing Article 108

InnQuest

JANUARY 23, 2023

Direct bookings are reservations made directly with the hotel rather than through a third-party online travel agency (OTA). With custom booking engines, you can create an effective reservation flow that can increase conversions. Metasearch platforms lead users to your website, where they can directly make reservations for their travel.

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Book Reservations Concierge Blog 218

InnQuest

SEPTEMBER 5, 2023

It involves tracking and controlling inventory in real-time, making informed decisions on pricing, room allocation and availability, and ensuring that the right resources are available at the right time. Effective management ensures that rooms are allocated efficiently and priced competitively.

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Guest Satisfaction Maintenance Pricing Book 218

Revenue Hub

SEPTEMBER 18, 2024

One of the most pervasive myths is the belief that offering low prices will automatically lead to high occupancy rates. In fact, setting prices too low can have several detrimental effects on a hotel’s revenue, profitability, and overall brand perception. This can result in lower levels of repeat business and brand loyalty.

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Pricing Article Events Marketing 103

Revenue Hub

OCTOBER 15, 2024

Google Hotel remains as a key source of bookings for hotels reinforcing the importance of showing your direct rates there ideally with the best price compared to OTAs. Read more articles from mirai The post DMA Impact: Google Share Sinking as a Source of Reservations appeared first on Revenue Hub. of the total generated bookings.

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Reservations Book Article Marketing 108

Revenue Hub

MAY 17, 2024

In economic terms, we wanted to avoid incurring an opportunity cost upon ourselves for taking the wedding business. This opportunity cost is created in turning away business that would have arrived on a Wednesday or Thursday and stayed through the weekend or even until Monday or Tuesday.

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Pricing Marketing Article Reservations 109

Modern Restaurant Management

APRIL 27, 2020

It includes documents to assist in organizing and reopening dining rooms and businesses. OpenTable added new features and price cuts for 2020 as they recognize the road to recovery will be long and difficult. Locations that have never taken reservations may find themselves looking for ways to manage capacity.

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Document Download Sanitation Pricing 231

7 Shifts

OCTOBER 31, 2022

A restaurant business plan is one of the most (if not the most) essential elements in getting a new restaurant off the ground. There are a few reasons for this: A business plan is typically the first thing any lender or investor will want to look at. What is a Restaurant Business Plan? Restaurant Business Plan Sample Outline.

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Document Download Marketing Competitive Analysis 158

InnQuest

MARCH 2, 2023

Hotel management is a complex and challenging task requiring business acumen and customer service skills. For example, your target market is mainly business travelers. In that case, you can focus on providing amenities that cater to their needs, such as a well-equipped business center or high-speed internet.

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Customer Service Training Guest Satisfaction Pricing 224

InnQuest

APRIL 3, 2023

For instance, online booking systems, channel managers, and revenue management software can help you manage reservations, room rates, and availability across different channels. Streamlining Processes Through Integrations Implementing a streamlined business process can improve efficiency, reduce downtime, and extend the life of hotel assets.

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Training Property Management Special Events Guest Satisfaction 222

InnQuest

OCTOBER 5, 2022

After all, paying hefty commissions for third-party bookings isn’t the most desirable way to handle business. Hoteliers across the globe understand this and are now focusing on how to get more direct hotel bookings for their business. . Even if you’re saving 10% in commission, that’s still a 10% increase in revenue.

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Book Pricing Reservations Information 217

Modern Restaurant Management

JANUARY 22, 2024

Businesses must remain ahead of the curve by checking all the correct boxes as customer tastes evolve at an unparalleled pace. It’s critical to provide a seamless eating experience, which includes simple payment choices and online reservations. How Can Businesses Fulfill the Evolving Consumer Expectations?

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Reservations Customer Service Marketing Pricing 181

Modern Restaurant Management

FEBRUARY 12, 2021

Your restaurant website needs to help your guests find you online, inform them about your menu and, possibly, help them reserve a table or order a delivery directly from you. Implement an online reservation system. Be sure to also keep your working hours updated to let customers know when you’re open for business.

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Reservations Information Sanitation Pricing 208

Hospitality Magazine

MAY 20, 2024

There’s no question technology plays an integral role in the success of a hospitality business. The business deploys services that provide food access, enjoyment, and ease of use for diners and caterers, which is fundamental to the design. It builds the tools you need to help run and grow your business.

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POS Systems Catering Reservations Back of House 246

Revenue Hub

OCTOBER 11, 2023

The evolution of big data The shift from analog to digital data collection has been transformative for businesses. Businesses collect big data from multiple sources, primarily revolving around customer interactions — both in person and digitally. This data includes demographics, booking patterns, guest behaviors, interests, and more.

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Information Article Pricing Book 107

Hotelogix

SEPTEMBER 6, 2024

This visibility can be a crucial source of business for smaller properties that may struggle to compete with large chains. If your hotel isn’t visible on Google Hotel Finder, you could miss out on a significant amount of business. Here, they can see all the offers from different booking channels.

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Book Information Demo Presentation 246

Modern Restaurant Management

FEBRUARY 4, 2022

Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady. Younger generations are willing to pay higher prices for healthy meals specifically tied to buzzwords such as GMO-free, all-natural, or organic.

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Reservations Definition POS Systems Customer Service 218

InnQuest

OCTOBER 3, 2023

Benefits of Integrated Payment Solutions for Hotel Businesses Integrated payment solutions offer a multitude of benefits for hotel businesses. Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. What can ‘roomMaster Payments’ do for you?

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Guest Satisfaction Information Property Management Blog 221

InnQuest

JANUARY 5, 2023

And to be able to cater to this modernized approach, it is extremely crucial for businesses in the hospitality industry to upgrade their existing on-premise management systems to cloud-based systems. Strengthened security – Data loss is a major concern for any business. This is why we launched roomMaster Anywhere !

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Property Management Book Catering Reservations 224

Modern Restaurant Management

JULY 24, 2020

Imagine a pandemic shut your entire business down and thinking, “this will be temporary… a few weeks,” as many restaurant owners believed in late February and early March. One of the most popular provisions within the CARES Act was the Paycheck Protection Program (“PPP”), especially for small business owners.

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Cost Reduction Pricing Strategic Planning Definition 214

Modern Restaurant Management

FEBRUARY 3, 2022

Inventory and Menu Management : Though 47 percent of operators say that all or most of their suppliers increased prices during the pandemic, two-thirds of restaurants maintained or increased their menu offerings. Reservations : Most operators are taking a hybrid approach to reservations.

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POS Systems Reservations Pricing Download 194

Modern Restaurant Management

DECEMBER 6, 2021

We’ve come up with several tips that can help save your business money while improving it at the same time: Use technology to reduce labor costs : Through online management systems, waitlist kiosks, and QR codes that lead to your menu or website. How can you fight the effects of inflation? Contact us today to learn more.

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Server Pricing Reservations Accounting 197

MEWS

APRIL 9, 2024

A property management system is software designed to help organize, execute and track daily operations in a hospitality business. It facilitates managing reservations, check-ins and check-outs, guest information tracking, price control, availability management, and provides analytics to monitor and improve performance.

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Property Management Reservations Pricing Information 130

Modern Restaurant Management

SEPTEMBER 21, 2020

And if restaurants were in trouble, so was our Yelp for Restaurants business. At the start of the year, Yelp for Restaurants had embarked on a three-year plan to redesign how we helped restaurants run their businesses better. Restaurants wanted a one-stop shop to support their business. I knew restaurants were in trouble.

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Reservations Front of House Pricing Communication 195

Revenue Hub

MARCH 7, 2024

Imagine a scenario where every decision you make in your hotel business is driven by hard data backed by robust commercial intelligence. Whether it’s determining your pricing strategy, managing your occupancy rates, or identifying your guests’ favorite food, data analytics allow you to take a more strategic, informed approach.

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Information Pricing Article Guest Satisfaction 105

Modern Restaurant Management

DECEMBER 13, 2021

These challenges are impacting menu availability, raising the prices of menu items, leading to short staffs, increasing wait times for diners, and changing operating hours and offerings. Digital waitlists and reservations help consumers minimize wait times at restaurants to get seated sooner upon arrival.

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Communication Reservations Budgeting Pricing 189

Modern Restaurant Management

APRIL 20, 2020

Lacking cash reserves and the resources to access money (traditional bank loans), most restaurants were forced to lay off their employees. Professionals advised restaurant clients not to seek traditional bank loans to cover wages and to save their money instead for the reopening of their businesses. Two months of rent and utilities.

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Reservations Pricing 210

Modern Restaurant Management

DECEMBER 3, 2024

This holiday season, 67 percent of diners are seeking more than standard reservations, with themed holiday meals (44 percent) and multi-course feasts (39 percent) being the most popular options, according to a survey from Tock. Nearly half (49 percent) of respondents will be seeking a reservation during the 4 to 6 p.m.

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Reservations Special Events Book Guest Retention 88

7 Shifts

FEBRUARY 7, 2024

The restaurant tech industry is growing, with software and services designed to streamline almost every aspect of your business. Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. Owned by Toast.

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POS Systems Scheduling Front of House Accounting 125

Revenue Hub

APRIL 2, 2024

The first secret to unlocking the full potential of your PMS data is to identify your business drivers. Business drivers are the key factors that impact your hotel’s revenue and profitability. This on-the-books data will make up the foundation for a large number of strategic business decisions you need to make.

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Reservations Book Pricing Article 109