Modern Restaurant Management

JANUARY 26, 2022

Holidays provide restaurants with the opportunity to capitalize on the special moment by offering specials, events, and so much more exclusive to the holiday. Busy holidays often result in busy and overworked employees, causing stress on your staff and longer wait times for your guests. Create a Prix Fixe Menu.

Events 225

Events Special Events Definition Catering 225

Modern Restaurant Management

DECEMBER 3, 2024

The demand for earlier reservations provides restaurants the opportunity to get creative when it comes to driving traffic for second and third seating’s with memorable experiences, dynamic pricing, or late-night specials. Restaurants have an opportunity to offer premium, value-add experiences that justify higher price points.

Reservations 88

Reservations Special Events Book Guest Retention 88

Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Hotel revenue management involves strategically adjusting your hotel's pricing and availability to maximize revenue.   What is Revenue Management in Hotels?

Pricing 130

Pricing Download Book Budgeting 130

Hotel Owner

APRIL 14, 2023

The Novar Arms, which is located in the rural village of Evanton, Dingwall, has brought to market the freehold going concern for an asking price of £649,500. The Scottish Highland venue is a favourite spot amongst the local community, while also benefiting from year-round tourists travelling through the North Coast 500.

Marketing 103

Marketing Special Events Pricing Events 103

Revenue Hub

DECEMBER 4, 2023

NB: This is an article from DynamEat Today’s solutions excel at generating price choices and adjustments automatically by using advances in artificial intelligence and machine learning. The incorporation of new data sources, such as POS, is critical in enabling more intelligent pricing choices.

Pricing 108

Pricing Special Events Accounting Article 108

Hotelogix

NOVEMBER 28, 2024

Business travelers typically seek workspace-friendly rooms with fast Wi-Fi, while families require spacious accommodations with connecting rooms. Weekend getaway packages for couples, corporate rates for business travelers, and off-season discounts for retirees maximize booking potential.

Marketing 100

Marketing Guest Satisfaction Book Budgeting 100

Modern Restaurant Management

AUGUST 2, 2024

Another 25 percent said they were investing in special events and one-off promotions, and 24 percent said they were prioritizing takeout and delivery operations. Finally, restaurant leaders are doubling down on sustainability as an investment in their business and the future. LTO Impact A new Placer.ai

Pricing 100

Pricing Training Marketing Book 100

Revenue Hub

NOVEMBER 26, 2024

The volume of incoming business will fluctuate alongside the seasonal changes. Without reliable income, a business simply cannot operate. Businesses that are designed around specific trade will need to consider this trend acutely and make the necessary adjustments to protect their income and boost hotel occupancy rates when required.

Special Events 108

Special Events Article Book Events 108

Revenue Hub

JUNE 10, 2024

Individual restaurant revenues can vary significantly based on various factors, including location, size, cuisine type, price point, concept, and how long a restaurant has been in the market. The overhead costs of your restaurant business and how thin your profit margins are can certainly affect your profitability.

Special Events 105

Special Events Catering Events Article 105

Hotel Owner

JULY 5, 2023

The Hunday Manor Hotel in the Lake District National Park has been sold to Osprey Hospitality Group from a guide price of £1.6m. Craig Lowery from Osprey Hospitality Group, said: “Hunday Manor Hotel is a great business ideally located on the edge of the Lake District National Park and near our other properties.

Special Events 105

Special Events Events Pricing Marketing 105

Revenue Hub

JULY 24, 2023

NB: This is an article from Demand Calendar Factors such as the destination’s appeal for tourism, business events, cultural festivals, and other attractions are the primary drivers of the demand for overnight stays. Leverage Local Events : If any local events are happening, hotels can offer special packages tied to these events.

Maintenance 97

Maintenance Travel and Tourism Special Events Pricing 97

7 Shifts

AUGUST 18, 2024

New Bar Options You'll need to decide on the exact business structure. However, it can be expensive and you may not have as much control over the business. This could be a good choice if you find a business that is already established and has a loyal customer base. An alternative is to buy an existing bar that is up for sale.

Customer Service 148

Customer Service Marketing Special Events Scheduling 148

7 Shifts

JULY 25, 2024

Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. Offering additional services, like delivery and takeout, meal kits and subscription boxes, and even catering and hosting special events can unlock new growth opportunities.

Special Events 97

Special Events Catering Events Workshop 97

Modern Restaurant Management

DECEMBER 10, 2021

Instead of promoting items according to price or margin, promote what your customers love. Creating a Google My Business account for your restaurant is a great way to ensure that all vital information will be at the customer’s fingertips. Being featured in the show certainly played a huge role in promoting the business.

Marketing 226

Marketing Information POS Systems Demo 226

SiteMinder

OCTOBER 10, 2023

What is discount pricing? Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. By offering discounted prices, hotels aim to increase demand, especially during off-peak periods, without compromising on profitability.

Pricing 59

Pricing Guest Satisfaction Book Events 59

Modern Restaurant Management

OCTOBER 12, 2022

As a restaurant, you’ve got the opportunity to feed into that joyful excitement with special events for the season, so grab the chance before the winter holidays takeover! Throw an unforgettable Halloween party that benefits your business by following these simple tips.

Events 196

Events Special Events Pricing Marketing 196

Revenue Hub

SEPTEMBER 5, 2023

Leveraging historical data, market trends, and special events, hotels can predict periods of high and low demand. This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods.

Pricing 109

Pricing Reservations Training Article 109

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

Hotel Owner

NOVEMBER 28, 2023

Robin Hill Country Park in Newport on Isle of Wight has been brought to market off a guide price of £2.25m. The business is currently operated by Vectis Ventures Limited and generates income primarily from entrance fees, food and beverage, and shop sales.

Marketing 97

Marketing Special Events Events Pricing 97

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

SiteMinder

JUNE 12, 2024

Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. The main goal is to sell the right product to the right customer at the right time for the right price.

Pricing 98

Pricing Book Reservations Events 98

Revenue Hub

JANUARY 9, 2024

A hotel demand forecast is a projection of demand (for rooms or other outlets like meeting space) that is used by revenue leaders to guide strategies for demand generation, pricing, inventory controls, segment mix and more. A demand forecast is an essential guiding force for hotel revenue success.

Special Events 96

Special Events Book Information Article 96

Revenue Hub

OCTOBER 23, 2023

Big Data’s Role in Mitigating the Hotel Industry’s Top Three Risks The first and biggest risk is opportunity cost, or leaving money on the table by not accurately pricing inventory – and that can be in either direction. Another risk is conflating channel complexity with pricing complexity.

Pricing 102

Pricing Book Reservations Property Management 102

Revenue Hub

AUGUST 20, 2024

Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. City Hotels Your independent hotel is well-situated for business and leisure travelers and conveniently located to shops, restaurants, and city sights within walking distance and accessible public transportation.

Pricing 104

Pricing Book Article Events 104

Revenue Hub

FEBRUARY 20, 2023

How do you increase your profits even as prices remain high and the future remains unknown and uncertain? Continue reading to discover the top 11 challenges facing hospitality revenue managers and find out what can be done to avoid to help prospective customers choose your business despite the challenges. 16% wanted to go on vacation.

Special Events 98

Special Events Article Book Pricing 98

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.

Pricing 98

Pricing Book Budgeting Marketing 98

Modern Restaurant Management

DECEMBER 21, 2022

Restaurants will increasingly become more reliant on using their transaction data to inform and automate their businesses. In addition, we see the point of sales platform as taking on more of the master data management role of the business, and configuring all the content needed for any digital experience from a single platform.

Pricing 167

Pricing Portion Control Budgeting Marketing 167

Modern Restaurant Management

AUGUST 31, 2023

So, basically, you’re harping on your USP—which your customers love—to make your event a success. They may even promote these special events for free via word of mouth. The prices for influencer collaborations vary, depending on the platform and the content. Your customers won’t just participate.

Events 154

Events Marketing Accounting Special Events 154

Revenue Hub

OCTOBER 30, 2023

The fear: There will be no transparency If you’re a revenue manager (RM) and your automated RMS has next week’s prices set significantly higher than your closest competitors, odds are strong you’ll have some explaining to do with your GM or the owner. It’s not just one tool or one person doing the pricing. The end result?

Pricing 108

Pricing Special Events Article Book 108

Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

Pricing 75

Pricing Book Article Events 75

Hotel Owner

JUNE 29, 2023

Most hospitality is property based, so we’re hit particularly hard by energy costs and business rates in addition to manic food cost and wage inflation. Think about what attracts people to your area – is it a theme park, special event, scenery, or a pastime, such as walking, cycling or fishing?

Special Events 105

Special Events Marketing Reservations Communication 105

Revenue Hub

OCTOBER 17, 2023

.” This was problematic for us as we needed to do some business while on the road. Where was the value for the price paid? I appreciate it is a tough time and the recovery post COVID-19 takes time, but prices continue to increase while service and value may not keep pace.

Pricing 109

Pricing Marketing Training Book 109

Synergy Suite

OCTOBER 19, 2023

This metric provides insights into your restaurant’s pricing strategies, menu composition, and upselling techniques. This can help you assess the effectiveness of pricing strategies and upselling techniques. This information helps in fine-tuning menu composition and pricing strategies. Are there underperforming items?

Pricing 52

Pricing Training Information Presentation 52

7 Shifts

JULY 29, 2021

We chatted with two of Kaldi's team members—Keith Kildron and Jillian Methvin—to get a picture of how the team uses 7shifts in their day-to-day operations, as well as how 7shifts has evolved as the business grew. Keith is Kaldi's VP of Operations, and Jillian oversees 8 locations as a regional manager. Here's how: Table of Contents.

Scheduling 148

Scheduling Communication Training Special Events 148

7 Shifts

DECEMBER 8, 2020

47% of restaurants were negatively affected by employee turnover in 2019, with less than a third of restaurateurs reporting that turnover had no impact on their business. The benefits of employee contests can impact all areas of your business and employee lifecycle—from sales to engagement to training.

Front of House 148

Front of House Server Events Special Events 148

Hotel Business

SEPTEMBER 15, 2023

Myth #1: Revenue management is only essential when business is booming. Whether business is busy or slow, it is critical to define your inventory correctly, update your systems accordingly and ensure their descriptions are clearly presented to customers on all channels. Using external data about your market can assist here.

Special Events 64

Special Events Pricing Accounting Events 64

Revenue Hub

OCTOBER 28, 2022

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. Jane, as a business traveler, is likely interested in ground transportation and high-speed internet. They buy very differently than business travelers. Read more articles from Agilysys.

Special Events 96

Special Events Book Information Reservations 96