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

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. To determine this number, look at how much your average customer would spend and increase the price. Create a Prix Fixe Menu.

Events 225

Events Special Events Definition Catering 225

7 Shifts

MAY 23, 2024

We’ve studied what makes the 20% of restaurateurs successful and categorized them into essential categories, including optimizing your menu, providing unforgettable experiences, hosting events, and improving takeout. During this time, your customers scan the menu, go through the descriptions, and review the prices before deciding.

Pricing 78

Pricing Scheduling Events Marketing 78

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

eZee Absolute

AUGUST 31, 2022

Be strategic about the pricing. Host a special event. Have you seen those discounted prices on banners where a higher price is always struck out? Be strategic about the pricing. Pricing is a supremely sensitive aspect of an accommodation business. Host a special event. Keep reading.).

Special Events 52

Special Events Pricing Events Book 52

Synergy Suite

MAY 24, 2024

Internal factors include historical sales data, past and present expenses related to ensuring that customers can order everything they hope to from the menu, trends in the popularity and pricing of menu items , profit margins, and more. How does price impact its popularity?

POS Systems 52

POS Systems Information Pricing Special Events 52

7 Shifts

JULY 20, 2024

By analyzing these reports, you can optimize pricing, control restaurant costs , reduce waste, and improve overall profitability. Because the sales report shows the revenue generated by each menu item, you can set your pricing appropriately to maintain healthy profit margins. This balance helps in maintaining optimal labor costs.

Scheduling 88

Scheduling Pricing Budgeting Information 88

Revenue Hub

APRIL 11, 2023

Event attendees: Guests attending events or conferences at the hotel may book directly through the hotel website to access special event rates or room blocks if the hotel booking engine offers that functionality. This allows hotels to prioritize and allocate resources to the channels that cater to their target audience.

Book 81

Book Information Reservations Catering 81

eZee Absolute

MAY 29, 2024

Some require fancy meeting spaces and top-notch catering, while others might be all about budget-friendly rooms and a fun social atmosphere. These groups need well-equipped meeting spaces, reliable technology, and catering for working lunches. Highlight Value Over Price : Focus on the value your hotel offers beyond just the room rate.

Events 52

Events Catering Book Budgeting 52

Synergy Suite

OCTOBER 5, 2023

This could include renting out space or property to other businesses or for events, any sort of income generated from membership or loyalty programs, income generated from partnerships or joint promotions, or income from catering services that are above and beyond the price of just the food.

Catering 52

Catering Information Events Labor Cost Controls 52

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

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. Guests are far more likely to accept an offer or react to a notification if it is catered to their specific interests. NB: This is an article from Agilysys.

Special Events 81

Special Events Book Information Reservations 81

7 Shifts

JUNE 16, 2024

You can give your customers 1 point for every $10 they spend at your restaurant (the price point depends on how much you're selling your food and beverages; just make sure to set an achievable price). This doesn't mean, however, that you have to increase the price of your menu in-store.

Marketing 78

Marketing Catering Events Reservations 78

Revenue Hub

OCTOBER 28, 2022

A Global Business Travel Association (GBTA) report estimated a full recovery of global business travel by 2026 – a result of many factors such as the Russian-Ukraine conflict causing inflation, high energy prices, labor shortages, supply chain, and frequent lockdowns in the world’s largest nation, China.

Reservations 78

Reservations Book Catering Special Events 78

Revenue Hub

AUGUST 22, 2023

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. Guests are far more likely to accept an offer or react to a notification if it is catered to their specific interests.

Special Events 75

Special Events Book Information Reservations 75

Modern Restaurant Management

DECEMBER 21, 2022

Bar and restaurant managers will aggressively target this revenue stream with dedicated group sales and catering managers, online ordering, and seasonal offerings such as holiday dinners, beer and wine tastings, and team building programming. Consumers are realizing it’s a delicious wine with a good price point.

Pricing 167

Pricing Portion Control Budgeting Marketing 167

Les Roches

DECEMBER 30, 2023

The term ‘guest’ conveys a sense of hospitality, emphasizing the warm and personal approach adopted when catering to their needs Customer service is a broader concept that applies when someone purchases goods or services from a business. A clear grasp of products and services can lay the groundwork for successful marketing strategies.

Guest Services 95

Guest Services Concierge Definition Customer Service 95

Les Roches

JULY 11, 2023

Similarly, someone attending a party and eating the catered food is a consumer, even if they did not pay for or select the catering package. Special events such as weddings will usually have only a handful of customers but many consumers. Both these types of consumers need to be considered.

Special Events 40

Special Events Customer Service Marketing Catering 40

7 Shifts

JANUARY 31, 2023

This makes the day the perfect occasion for restaurants to offer special menus or wine pairings and to celebrate romance with their customers. Restaurants can make Valentine’s Day a profitable holiday by offering special menus and promotions that cater to couples celebrating a first date or an anniversary.

Scheduling 78

Scheduling Events Book Special Events 78

Modern Restaurant Management

MAY 31, 2024

percent of diners noting that recent price increases have altered their spending habits, and 58.5 To counteract this, diners are increasingly seeking out promotions, special offers, and better value for money as primary incentives. Economic shifts have significantly impacted consumer behavior, with 72.1 Consumers crave more for less.

Catering 156

Catering Marketing Download Pricing 156

Les Roches

DECEMBER 28, 2022

Food and Beverage manager – Also known as F&B, this is managing inventory, orders, budgets, and planning of special events for restaurants, bars, and catering. Revenue manager – This is all about optimizing pricing and supply lines, as well as analyzing the constantly-changing income of a hotel.

Hospitality Management 52

Hospitality Management Training Communication Special Events 52

SiteMinder

JULY 4, 2024

However, if guests don’t feel connected to your brand, they could still be ruled by price, location or facilities next time they choose to book a stay. It’s not only about catering to incoming traffic but also assimilating and feeling a part of the surrounding community. Setting false expectations is the worst thing you can do.

Guest Satisfaction 52

Guest Satisfaction Book Communication Catering 52

7 Shifts

NOVEMBER 9, 2022

If you're catering to young customers looking to make the most of the weekend, use words and visuals that carry a “ seize the day” vibe. Special events such as birthdays and anniversaries also show how much you care about them. From policy changes to price—news is best served in newsletters. Business updates.

Reservations 78

Reservations Marketing Blog Events 78

Synergy Suite

JULY 20, 2024

Restaurants, in particular, may resort to double shifts during peak seasons or special events when an increased workforce is necessary to handle the customer surge. Effective bookkeeping allows for more strategic menu engineering, adjustments to menu prices, and cost-cutting measures without compromising quality.

Bookkeeping 52

Bookkeeping Scheduling Accounting Information 52

Modern Restaurant Management

JUNE 3, 2021

percent) consumers say they would be encouraged to visit by special offers on drinks, and more than a quarter would be attracted by drink offers (32.7 percent), special events (31.6 2 percent say the price. Two in five (39.9 percent) or live entertainment (27.0 Franchise Operations Index. 16 percent say the texture.

Download 189

Download Travel and Tourism Sanitation Events 189

7 Shifts

MARCH 30, 2022

Price changes, new items, new deals, new hours - all of it can be adjusted as your restaurant grows. These can be professionally designed or made in-house to promote specials, events, or even a classic riff like the “Free Wifi, Cold Beer” sign found outside many-a-bar. Sponsor an event by catering it.

Marketing 148

Marketing Special Events Accounting Events 148