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

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

InnQuest

APRIL 3, 2023

Streamlining Processes Through Integrations Implementing a streamlined business process can improve efficiency, reduce downtime, and extend the life of hotel assets. Maximizing Revenue in a Competitive Market Implementing a dynamic pricing strategy can improve revenue management and help hotels maximize profits.

Training 222

Training Property Management Special Events Guest Satisfaction 222

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

Revenue Hub

MARCH 27, 2024

NB: This is an article from Little Hotelier , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. The importance of forecasting in hotel industry businesses cannot be understated.

Pricing 95

Pricing Special Events Book Article 95

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

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 92

Pricing Special Events Accounting Article 92

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 85

Special Events Catering Events Article 85

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

eZee Absolute

MAY 29, 2024

But here’s the good news: with the right approach, you can turn those hotel RFPs into booked events and boost your hotel’s group business. Understanding The Group Business Landscape Winning the RFP Game: Strategies for Hoteliers Bonus Tip: Negotiation for Securing The Deal What is Hotel RFP & Why is it Important?

Events 52

Events Catering Book Budgeting 52

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

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

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 82

Maintenance Travel and Tourism Special Events Pricing 82

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

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

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 93

Pricing Book Article Events 93

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

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 100

Pricing Reservations Training Article 100

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

7 Shifts

NOVEMBER 15, 2024

Hiring the right people can make or break your business. Looking for someone to oversee day-to-day operations is a critical business decision that needs careful consideration. Looking for someone to oversee day-to-day operations is a critical business decision that needs careful consideration.

Communication 78

Communication Server Special Events Training 78

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 84

Pricing Book Reservations Property Management 84

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 79

Special Events Book Information Article 79

7 Shifts

MAY 23, 2024

This proves that any restaurant business owner who wants to survive in this economy should be open to trying unconventional sales strategies to attract customers and continue making a profit. That said, we've compiled some of the best techniques for increasing restaurant sales and taking your business to new heights.

Pricing 78

Pricing Scheduling Events Marketing 78

SiteMinder

AUGUST 1, 2024

Hoteliers use rate shopping to benchmark against other properties, optimise pricing decisions, and find opportunities to maximise revenue and profitability. This blog will give you a full overview of hotel rate shopping and rate shopper tools, which you can use to boost revenue success at your business.

Pricing 52

Pricing Book Blog Marketing 52

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 66

Pricing Book Article Events 66

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 85

Special Events Article Book Pricing 85

eZee Absolute

AUGUST 31, 2022

Not to mention, it is also a great opportunity for hotels to attract guests during diwali boost their business significantly. Be strategic about the pricing. Host a special event. Last year was also great for hotel businesses as there was a surge in travel bookings during Diwali. Be strategic about the pricing.

Special Events 52

Special Events Pricing Events Book 52

Hotelogix

OCTOBER 11, 2024

Seasonal Influences: Holidays and special events can impact travel plans. Guests might change their plans unexpectedly, contributing to increased no-show rates during busy periods. This, in turn, affects pricing strategies and future bookings. How No-Shows Impact Hotels?

Reservations 130

Reservations Guest Satisfaction Communication Book 130

Synergy Suite

MAY 24, 2024

Forecasting for restaurants means trying to anticipate and prepare for rapid changes in business conditions so that maximum profits can be achieved. External factors include seasonal trends, special events, and market dynamics, which play a significant role in the accuracy of restaurant sales forecasts.

POS Systems 52

POS Systems Information Pricing Special Events 52

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 91

Pricing Special Events Article Book 91

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

7 Shifts

JULY 20, 2024

As an operator, you must have a firm grasp on your revenue, expenses, and profitability if you want to be part of the 20% of businesses that find long-term success in the industry. By analyzing these reports, you can optimize pricing, control restaurant costs , reduce waste, and improve overall profitability.

Scheduling 88

Scheduling Pricing Budgeting Information 88

SiteMinder

OCTOBER 8, 2024

is a slightly complicated one, because the business serves a wide range of customers, including hotels, chains, tour operators and travel agencies. Hotelbeds states that it works with over 71,000 “travel distributors”, which includes hotels, tour operators and other travel businesses, and sells 50 million room nights every year.

Book 52

Book Property Management Blog Reservations 52

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

Hotelogix

OCTOBER 18, 2023

For any accommodation business to run smoothly, hotel inventory management has to be effective. Regular orders and clear communication help build trust, leading to better pricing and priority service. Seasonal Variations: You often experience fluctuations in demand based on seasons or special events.

Procurement 100

Procurement Special Events Guest Satisfaction Pricing 100

SiteMinder

DECEMBER 7, 2023

Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. It’s not just about setting the right price, but also about adjusting it in response to market changes. Higher occupancy rates : Pricing rooms correctly plays a pivotal role in driving occupancy.

Pricing 59

Pricing Book Marketing Events 59