Revenue Hub

OCTOBER 10, 2024

Setting the right event minimums is crucial for ensuring profitability while maintaining customer satisfaction when managing events. Event minimums are nothing new, but determining the amounts can be challenging. Let’s explore how you can effectively establish event minimums and streamline the process.

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Pricing Events Catering Maintenance 109

Revenue Hub

MARCH 24, 2025

Understanding group and transient bookings Group bookings : These involve multiple rooms booked together, often for conferences, weddings, or corporate events. They allow for dynamic pricing adjustments and last-minute revenue opportunities. Additional revenue streams from event spaces, catering, and other services.

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Book Pricing Article Events 83

Hotelogix

NOVEMBER 28, 2024

With this comprehensive understanding of your guest segments, you can develop targeted service offerings that cater to their specific needs and preferences. Business travelers often book last minute and value convenience over price, while leisure travelers book ahead and are more price-sensitive.

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Marketing Guest Satisfaction Book Budgeting 100

Hotelogix

JANUARY 19, 2025

Did you know that effective hotel pricing can increase revenue by up to 20%? In this blog, we’ll cover everything you need to decide hotel rates smartly, including competition analysis, pricing strategies, and tools to simplify the process. Steps to Analyze Competitor Pricing: Track room rates across OTAs and direct websites.

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Larry Mogelonsky

APRIL 14, 2025

Yes, these enhancements come with a price another per-room software fee and onboarding efforts but the savings from better labor allocation make the return on investment highly compelling. Improved group sales performance, as enhanced facilities and experiences make your property more attractive for meetings and events.

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Revenue Hub

JANUARY 10, 2025

Avoid overused phrases such as Free, Click, Buy or Best Price, which can trigger spam filters. From there, emphasize how your unique amenities or services can cater to their upcoming event or group stay. Keep it concise, relevant, and engaging.

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Communication Catering Article Events 109

Revenue Hub

AUGUST 22, 2023

Dynamic pricing is vital for hotel success today, but only some operators can see beyond the guestroom when applying this technology. NB: This is an article from IDeaS Many factors impacting guestroom dynamic pricing, like seasonality and occupancy, also play a role when optimizing event revenue.

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Pricing Events Book Guest Retention 98

Hospitality Magazine

APRIL 7, 2025

The rural town held the Bream Creek Show since 1886 which sees many events take place, including the coveted Giant Pumpkin competition. A fortuitous opportunity at Harvey Nichols department store later presented itself, which is where Piechniczek met McInnes, whose culinary journey started at catering school.

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Restaurant Engine

DECEMBER 9, 2020

Some of your customers have even asked about catering options. But is a client base enough to start your catering business? Opening a catering business tied to your restaurant can add extra profits to your business. In this article, we look at how to tell if you should start catering. Let’s look at what you need to begin.

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Revenue Hub

APRIL 10, 2025

Fixed rates and reservation books were gradually replaced by dynamic pricing systems, Excel spreadsheets were supplemented by rate-shopping tools, and revenue generation has expanded beyond room sales. With advancing technology, new guest behaviors, and growing uncertainties, the way revenue professionals work has fundamentally changed.

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Revenue Hub

FEBRUARY 21, 2025

Pricing and yielding: time to think bigger Hotels and resorts have long applied dynamic pricing to room rates, but many still hesitate when it comes to MICE and groups revenue streams. Why not take the same approach to event spaces, catering, and equipment rentals?

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Pricing Book Events Article 100

Modern Restaurant Management

OCTOBER 9, 2024

With the post-pandemic return-to-office, business catering is in full swing. But business catering is a different beast requiring different menus, operations, and technology. What are the primary differences in business catering vs. party catering? Business catering is complex and high stakes.

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Catering Events Budgeting Marketing 88

Hotelogix

JUNE 21, 2024

In the hospitality industry, creating memorable events is important to ensuring business success. The core of this process is the Banquet Event Order, which is a detailed document that lists all the details of an event. Understanding Banquet Event Orders  It is an important document that details the specifics of an event.

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Events Document Catering Scheduling 130

Hotelogix

JANUARY 12, 2025

Regularly updating your site with blogs about local events or hidden gems nearby also signals search engines that your website is relevant and engaging. Integrate Your Rates and Inventory : Managing multiple OTA platforms manually can quickly become overwhelming, leading to errors like double bookings or inconsistent pricing.

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Book Pricing Marketing Events 130

Modern Restaurant Management

DECEMBER 18, 2024

. – ezCater CTO Erin DeCesare Customized Catering for Flexible Occasions – The rise of personalized group dining experiences is reshaping catering trends, and L&L is already meeting the demand. Value is about more than price—it’s about the quality of the food, the atmosphere, and the service.

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L&D Marketing Pricing Catering 167

Revenue Hub

NOVEMBER 29, 2024

Here is our round up of 8 Success Stories from our Expert Partners outlining revenue growth, increased ADR, occupancy, booking growth, pricing changes and direct channel success. Challenge Eliminating heavy reliance on manual spreadsheets for revenue management and generating data insights for accurate, data-driven pricing.

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Book Pricing Reservations Events 109

Revenue Hub

NOVEMBER 25, 2024

Consider hosting events around Showcase what makes your hotel unique and use experiences like gingerbread decorating contests, s’more stations by the fire, or caroling nights. Cater to the Quest for Quiet and Unique Experiences Younger travelers are increasingly seeking immersive, unique experiences over simple relaxation.

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Book Article Budgeting Catering 108

Revenue Hub

MAY 9, 2024

Let’s talk about something revolutionary, yet as ancient as commerce itself: value-based pricing. It’s time to ditch the old-school, cost-plus mentality and hello to a pricing strategy that actually makes sense for your independent hotels. Why It Barely Works The fundamental flaw of cost-plus pricing is its inward focus.

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Pricing Special Events Article Catering 109

Hotelogix

APRIL 11, 2025

These outlets include: Restaurants & Bars Cafes & Lounges In-house Spas or Salons Gift Shops & Boutiques Activity Desks or Tour Booking Counters Room Service & Mini-Bar Event Services Each of these outlets functions like a mini-business within your hotel.

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POS Systems Guest Satisfaction Housekeeping Travel and Tourism 130

Revenue Hub

DECEMBER 15, 2023

For hotels, this time offers a golden opportunity to implement effective pricing strategies that not only cater to the surge in guests but also optimize revenue generation. Dynamic Pricing Model Implementing a dynamic pricing model allows hotels to adjust rates based on demand fluctuations.

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Pricing Book Catering Article 109

Hotel Owner

APRIL 9, 2025

Manchester hotel The Midland has partnered with chef Adam Reid to launch its brand-new private hire and events offering, Events by Adam Reid at The Midland. The new concept is aimed at high-profile corporate networking events to personalised occasions for friends and family and offering a bespoke version of Adams Northern food style.

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Events Pricing Catering 40

Revenue Hub

NOVEMBER 18, 2024

Offer a Discount on Your Best Available Rates Let’s start with the most influential factor in group bookings: competitive pricing. Group bookings often come down to price sensitivity, as corporate clients and private groups are both budget-conscious. Provide Flexible Contract Terms Those planning a group trip need reassurance.

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Book Article Events Pricing 109

SiteMinder

OCTOBER 18, 2023

What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.

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Pricing Book Events Marketing 105

STAAH

DECEMBER 12, 2023

Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Monitor and Adapt Continuous monitoring and analysis of pricing strategies and their effectiveness are vital.

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Pricing Book Catering Reservations 104

Revenue Hub

OCTOBER 4, 2023

In the quest to maximize your hotel’s revenue, two buzzwords often come up: Revenue Management and Price Optimization. We demystify the differences between Revenue Management and Price Optimization and provide actionable insider tips to boost your hotel’s earnings. Price Optimization: Precision Pricing What is Price Optimization?

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Revenue Hub

AUGUST 28, 2024

Event and group planning within the hospitality sector mirrors these seasonal trends. No Rest for the Weary January witnesses an upswing in new event requests almost immediately after the holiday decorations come down. Convergence This heightened January planning activity presents a golden opportunity for event professionals.

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Events Scheduling Catering Book 103

Hospitality Magazine

SEPTEMBER 20, 2023

For me personally, I like having a day of the week that is customer-focused and accessible for guests, particularly the wine, which people can be priced out of.” There are three promotions now live that reflect the ethos of each restaurant and cater to what consumers want or have requested in the past.

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Catering Pricing Book Budgeting 130

Revenue Hub

MARCH 13, 2025

Different traveller groups have varying lead times, and recognising these patterns will help you optimise your availability and pricing strategies. City breakers : For those who prefer a cultural getaway, boutique hotels in urban locations should emphasise nearby Easter events, museum exhibitions, and food festivals.

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Book Workshop Reservations Article 101

7 Shifts

OCTOBER 28, 2024

It just goes to show how important drink pricing and cost management are to maximizing profits. Bar profit margin and pour cost Some high-performing bars can reach higher margins by optimizing their costs and pricing strategies. Keep in mind that certain drinks can be priced higher due to their popularity or unique ingredients.

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Portion Control Pricing Training Scheduling 78

Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Pricing Article Events Budgeting 97

STAAH

DECEMBER 3, 2024

Get ready for groups and events. Guests travelling for work or work events are expected to keep mixing it with leisure, so expect a bleisure. Be prepared in marketing and servicing to cater to the diverse and unique needs of such business related groups and big families.

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Modern Restaurant Management

DECEMBER 17, 2024

Thus, finding the right balance between maintaining high quality and keeping prices reasonable is crucial. Educating consumers about the benefits of sustainable ingredients can also foster understanding around pricing, making them more willing to pay a premium. .

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Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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Pricing Article Book Events 92

Hotel Owner

JUNE 16, 2023

Welsh family-run seaside hotel, The Lion, has been brought to market for the first time since 1978 for a reduced asking price of £1.8m. The four-star property was built in the 18th-Century, but has recently benefited from a refurbishment and offers 34 en-suite letting rooms and six ‘Castle View’ self-catering apartments.

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The Restaurant Times

JANUARY 23, 2022

If you have a flair for cooking and want to monetize your passion and skills, you can easily combine the two to start your very own catering business in the USA. . The catering industry includes companies that provide individual event-based food services. In 2019, catering companies in the US earned $11 billion in revenue 2019.

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Catering Events Marketing Budgeting 75

Modern Restaurant Management

MARCH 8, 2024

In this edition of MRM Research Roundup, we feature news about an influx of catering orders, the topic of tipping, the rise of kiosks and affordable Michelin restaurants. Among the highlights: On or Off Prem Same-store catering transactions increased +71 percent in Q4 2023 compared to Q4 2022. Hawaiians are the best tippers.

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Catering Pricing Multi-Unit Operations Marketing 100

Modern Restaurant Management

DECEMBER 31, 2024

From eyebrow-raising splurges and quirky simple essentials to cultural events and TikTok trends that pushed consumers to hit “add to cart,” I thought this would be of interest to you and your readers! This includes the desire for high-quality ingredients, as a result of increased awareness and global food knowledge.

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