Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. Keep reading for ideas… Value-added packages Attract price-sensitive guests by offering added value.

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Pricing Reservations Property Management Article 77

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.

Pricing 89

Pricing Article Events Marketing 89

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?

Pricing 92

Pricing Book Marketing Article 92

Les Roches

JANUARY 17, 2024

Strategic decisions about menu design, customer de­mographics, and pricing strategies also play critical roles. By unde­rstanding effective pricing strate­gies, restaurants can achieve a sustainable balance betwe­en profitability and memorable customer experience. Bachelor in Hospitality Management.

Pricing 52

Pricing Information Marketing Accounting 52

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.

POS Systems 158

POS Systems Scheduling Reservations Communication 158

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.

Marketing 246

Marketing Accounting POS Systems Information 246

Modern Restaurant Management

DECEMBER 28, 2022

But have you considered how an equipment subscription is a better, smarter business move than equipment ownership? While purchasing has always been the norm for most, if not all, essential equipment in the restaurant business, it’s not necessarily the smarter fiscal choice. EaaS for Big Business. Brand protection.

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Maintenance Budgeting Reservations Back of House 197

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 103

Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

Pricing 93

Pricing Book Marketing Article 93

SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Pricing Marketing Book Information 105

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

Synergy Suite

MARCH 14, 2023

For any full-service or specialty restaurant business, front-of-house table management has to be one of the most important things to get right. You can be sure that if there is anything that isn’t right about your restaurant reservation system, you’ll hear about it. Is the Restaurant Reservation System Easy to Use?

Reservations 52

Reservations POS Systems Front of House Communication 52

Travel Booster

FEBRUARY 5, 2024

6 benefits of an online reservation system for tour operators 1. If you’re a tour operator that’s on-site running travel services or busy organizing them, managing all these tasks simultaneously is more than overwhelming. This means that converting customers to paying clients happens much faster. your online booking system is.

Reservations 52

Reservations Book Scheduling Communication 52

STAAH

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand. Listening to the guests was key to informing room pricing that yielded the best returns for the business, i.e. moving into the era of dynamic pricing.

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Pricing Demo Reservations Training 74

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.

Information 91

Information Article Pricing Book 91

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.

Property Management 130

Property Management Reservations Pricing Information 130

SiteMinder

FEBRUARY 9, 2023

Sydney, Australia – Newly released data from SiteMinder, the world’s leading open hotel commerce platform, highlights the increase in outbound reservation volumes from mainland China following the country’s relaxation of travel restrictions on January 8.

Reservations 98

Reservations Book Travel and Tourism Marketing 98

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.

POS Systems 78

POS Systems Scheduling Reservations Communication 78

Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

Pricing 52

Pricing Book Events Article 52

Modern Restaurant Management

AUGUST 2, 2024

Finally, restaurant leaders are doubling down on sustainability as an investment in their business and the future. As a result, they are making hard decisions to adjust prices and make menu changes. More than 68 percent reported implementing sustainability practices. LTO Impact A new Placer.ai

Pricing 100

Pricing Training Marketing Book 100

Revenue Hub

JULY 10, 2023

By identifying where the business is coming from and what motivates guests to complete a purchase, you can better define effective pricing strategies and target your offer to meet their needs. You can also identify areas for growth and unexploited business opportunities within your market.

Marketing 85

Marketing Special Events Book Article 85

The Restaurant Times

FEBRUARY 7, 2023

Menu pricing is one of the most underestimated aspects of restaurant management. If your customers don’t think the prices on your menu are reasonable, how great your concept or your food is won’t matter much. Therefore, restaurants must keep the menu at the heart of all restaurant operations and business plans.

Pricing 52

Pricing Reservations POS Systems Marketing 52

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.

Pricing 130

Pricing Book Events Demo 130

OpenTable

APRIL 23, 2020

That’s why we’re excited to announce two new initiatives to help restaurants successfully reopen their businesses. OpenTable’s software has always enabled restaurants to connect with diners to manage reservations, prepare for shifts, and maximize table availability. Second, big price cuts for 2020. … Read more.

Pricing 105

Pricing Reservations Book Marketing 105

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.

Information 86

Information Pricing Article Guest Satisfaction 86

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.

Reservations 96

Reservations Book Pricing Article 96

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.

Guest Satisfaction 218

Guest Satisfaction Maintenance Pricing Book 218

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.

Document 158

Document Download Marketing Competitive Analysis 158

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.

POS Systems 125

POS Systems Scheduling Front of House Accounting 125

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

Pricing 59

Pricing Definition Book Marketing 59

Lithos POS

JULY 4, 2024

A business owner must be self-sufficient to grow a successful business. Here we are going to discuss some successful tips that you can use to run and grow your business. You need to absorb yourself fully into the business. If it is your new business location, then it will help you to identify customer likes and dislikes.

Maintenance 52

Maintenance Accounting Customer Service Marketing 52

Revenue Hub

SEPTEMBER 20, 2024

The Global Distribution System (GDS) is one of the many channels to sell your rooms to the world of business travelers. In this blog, we look at how you can tailor your GDS content to drive more reservations and revenue from this channel. Negotiated Rates include qualified corporate or business partnerships.

Reservations 81

Reservations Book Pricing Article 81

Revenue Hub

DECEMBER 14, 2023

Hotel owners and operators are best positioned for success when they measure their business from every angle. Sometimes called occupancy on the books, business on the books, or simply “on the books,” virtually every hotelier performs some kind of forward-thinking analysis to forecast future revenue trends and combat low periods.

Book 94

Book Article Marketing Pricing 94

Modern Restaurant Management

JUNE 16, 2023

Operators planning for growth are looking into new technology solutions that will help them get where they want to be, while also facing continuing challenges such as high food prices, staffing levels and increased competition.

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Customer Service Reservations Scheduling Presentation 110

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

Hotelogix

JANUARY 30, 2024

The report also covers cancellations, no-shows, and temporary reservations for the day. Additionally, it includes reports on no-shows, occupancy, market analysis, company contributions, business analysis, MIS, and a manager flash report with budget details for comprehensive analysis. Benefits of these reports Here they are.

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Housekeeping Reservations Budgeting Book 147

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.

Book 246

Book Information Demo Presentation 246