Boutique Hotel News

MARCH 14, 2023

US: Meetings, events and hospitality technology provider Cvent has entered into a definitive agreement to be acquired by Blackstone at an enterprise value of $4.6 This represents a premium of around 52 per cent on the volume-weighted average price (VWAP) in the three-month period leading to the end of January. per share in cash.

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Events Definition Pricing 246

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

Soft Inn

JANUARY 5, 2023

Whether your hotel is located in the heart of the city area, near the beach or even situated on a hill surrounded by lush forests, having a good pricing strategy would definitely affect your hotel’s revenue. It is very important to sell the room at the right price at the right time.

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Definition Pricing Book 130

Revenue Hub

DECEMBER 9, 2024

NB: This is an article from Triptease Subscribe to our weekly newsletter and stay up to date It was our first chance to get a glance into the EU hospitality industrys reaction to the report and there was a definite sense of disappointment in Booking.coms limited changes. This came up via a few specific points raised during the workshop.

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Workshop Pricing Book Article 104

Modern Restaurant Management

JULY 21, 2022

Come June, the Labor Department's Consumer Price Index saw that annual rate climb even further to 9.1 While inflation is most definitely impacting guests, RMS' Q2 2022 Industry Trends Report shows it's not all bad news for operators. Consumers see a drop in gas prices , bringing them back to drive-thrus.

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Pricing Definition 178

Modern Restaurant Management

DECEMBER 14, 2020

State marketplace collection laws vary by state—each law having its own definitions of terms and parties to which it applies. For example, additional charges (such as delivery fees or mandatory gratuity) are often included in the taxable sales price. Exclusions. Other Compliance Considerations.

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Presentation Document Pricing Definition 207

Hospitality Magazine

NOVEMBER 18, 2024

That will definitely be one of our signature dishes.” The pricing is also still being determined, but with three set menu options, Kalvo says there are approachable options for everyone. The pie section, which Kalvo dubs the “signature section” of the restaurant, includes hand-stretched dough spanakopita in copper trays.

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Definition Pricing Magazine 246

Revenue Hub

NOVEMBER 28, 2024

NB: This is an article from RoomPriceGenie , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Today, hoteliers recognize that they can generate more revenue by being more targeted in their pricing – by offering different rates to different segments of guests.

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Book Pricing Article Definition 106

Les Roches

JANUARY 11, 2024

Pricing strategies Inverse Couple Images/ Moment via Getty Images Did you know that, on average, large retailers change prices every three minutes ? To achieve­ revenue growth, imple­menting effective­ pricing strategies is fundamental and a discipline in itself.

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Definition Pricing Marketing Training 52

Revenue Hub

MAY 15, 2024

Definition and Key Components Revenue Performance Management systematically analyzes and optimizes a hotel’s revenue streams. It focuses on understanding market demand, setting optimal pricing strategies, managing distribution channels, and continuously monitoring performance metrics to meet revenue targets.

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Budgeting Pricing Definition Article 102

Revenue Hub

NOVEMBER 14, 2024

If you ask 10 hoteliers what revenue management is, you will probably get 10 different definitions. Pricing: What Rates Will You Charge? Pricing is one of the most important tasks of revenue management. If your property is priced too high, you will miss out on bookings. Price dynamically.

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Pricing Scheduling Book Article 109

Modern Restaurant Management

NOVEMBER 14, 2022

While the rise in construction prices has many confounding factors, it does illustrate how inflation impacts insurance costs. As inflation raises prices, insurers must raise premiums to adequately cover those higher costs, whether they’re construction costs or costs for other products your business uses. Supply Chain Strain.

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Information Pricing Events Definition 202

Modern Restaurant Management

JULY 24, 2020

If they are paying their workforce, they most definitely are doing so with a reduced headcount. Food prices fluctuate with changes in the supply chain. Absorb the cost increase or increase their prices. Increased prices can negatively impact sales. Restaurants today are still finding themselves with doors closed.

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Cost Reduction Pricing Strategic Planning Definition 214

EATER

SEPTEMBER 11, 2024

Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? You may disagree with how we price this, but here’s why we’re doing this.”

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Pricing Definition Front of House Server 145

Industry Insights Lodging Magazine

AUGUST 28, 2023

PHILADELPHIA, Pennsylvania—Hersha Hospitality Trust and KSL Capital Partners, LLC announced a definitive merger agreement entered into on August 27, 2023, under which affiliates of KSL will acquire all of the outstanding common shares of Hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4

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Definition Pricing Magazine 98

SiteMinder

JUNE 6, 2024

A quick search on the internet yields a wide range of definitions for ‘revenue management’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenue management’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.

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Definition Pricing Marketing Events 98

Modern Restaurant Management

JUNE 30, 2023

One of Merriam-Webster’s definitions for orchestration is “to arrange or combine so as to achieve a desired or maximum effect.” Own Your Changes In March 2023, restaurants’ food prices were 8.8 There’s also a feeling of being disregarded that comes with an unexplained price increase.

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Pricing Accounting Communication Training 179

Revenue Hub

JANUARY 9, 2024

NB: This is an article from berner+becker , one of our Expert Partners Revenue management has always been a critical aspect of the hospitality and travel industry, it involves optimizing pricing and distribution strategies to maximize revenue, considering various factors such as demand, competition, and customer preferences.

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Pricing Article Definition Catering 109

Revenue Hub

NOVEMBER 6, 2024

The OTA balancing act OTAs definitely have their place. Competitive Pricing vs. Value Add: While OTAs often focus on price comparisons, your direct channels can emphasize unique value propositions. When OTAs dominate the online space that should be showcasing your hotel, those losses can exceed 50%.” That’s a risky strategy.

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Book Article Definition Pricing 109

Hospitality Magazine

DECEMBER 18, 2023

The Hugo spritz definitely seems to be having a (well-deserved) moment,” says Owner and Operator of Adelaide’s Fú Cocktail and Wine Bar Geoffrey Hunt. Since putting it on the menu, the drink has been a popular order for guests not only for its taste but the price point.

Pricing 246

Pricing Definition Catering Magazine 246

Revenue Hub

DECEMBER 11, 2024

Leveraging Data to Drive Group Sales Strategy Integrating data into group pricing strategies begins with identifying crucial data points. By synthesizing these insights, revenue managers equip sales teams with a holistic perspective on the dynamics influencing group pricing.

Pricing 101

Pricing Book Catering Information 101

Modern Restaurant Management

FEBRUARY 4, 2022

Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady. Younger generations are willing to pay higher prices for healthy meals specifically tied to buzzwords such as GMO-free, all-natural, or organic.

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Reservations Definition POS Systems Customer Service 218

Revenue Hub

NOVEMBER 7, 2024

In Series 2, we looked at Dynamic Pricing; how this can immediately impact your ADR along with the considerations you need to make before implementing this strategy. Whilst revenue gains can of course be made by channel shift or dynamic pricing strategies, you can also make an immediate impact by simply reviewing your product offering.

Pricing 109

Pricing Blog Article Training 109

Revenue Hub

JANUARY 31, 2023

This is intended to partially offset the additional costs caused by the increased prices and pass them directly to the guests. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable. The guest pays the same price for the room as he did a month ago.

Pricing 98

Pricing Communication Definition Presentation 98

STAAH

FEBRUARY 18, 2024

Investing in these (also at affordable prices like the rest of the platform!) has definitely made a further impact on the bookings growth seen by the property. WatchMyRate allows website users to compare the prices of a room against a selected group of OTAs.

Definition 92

Definition Book Pricing Customer Service 92

Les Roches

JANUARY 12, 2024

Pricing strategies are an essential part of commercial activity. Entrepreneurs, marketing strategists, and a whole host of other roles in practically every industry require a thorough knowledge of how to set pricing. It goe­s beyond simply assigning a random price and require­s strategic thinking and careful analysis.

Pricing 52

Pricing Marketing Definition Catering 52

STAAH

FEBRUARY 18, 2024

Investing in these (also at affordable prices like the rest of the platform!) has definitely made a further impact on the bookings growth seen by the property. WatchMyRate allows website users to compare the prices of a room against a selected group of OTAs.

Book 91

Book Definition Pricing Customer Service 91

Modern Restaurant Management

FEBRUARY 5, 2020

Pressures from minimum wages, ever-increasing price competition, traffic declines, new and evolving consumer behavior have created immense challenges for the restaurant industry, most pointedly in casual and dining quick service segments. Now think about how you deliver that experience at a good price: low-margin, high-volume strategies.

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Pricing Server Definition Marketing 150

Hospitality Magazine

SEPTEMBER 6, 2023

But steak often comes with a hefty price tag, which means the protein is usually ordered by guests for special occasions over a casual meal — until now. While quality and taste were part of the criteria, price also influenced the final decision. “I Price point is naturally a big factor for the chef when selecting proteins. “We

Pricing 130

Pricing Definition Catering Marketing 130

Modern Restaurant Management

JANUARY 26, 2022

To determine this number, look at how much your average customer would spend and increase the price. While you should definitely create items that are expensive and elegant, don’t forget to utilize high-margin items like soups. For Valentine’s Day, you could also offer buy-one-get-one entrees.

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Events Special Events Definition Catering 225

SiteMinder

OCTOBER 5, 2023

Was it a case of the price leading to a lack of perceived value or was it the contents of the package itself? Traditional revenue management focuses on selling the right service to the right guest at the right time, for the right price. It’s crucial to know not only if something worked or didn’t work, but why.

Definition 59

Definition Blog Events Pricing 59

Revenue Hub

OCTOBER 23, 2023

Revenue Generation Index (RGI) Definition : RGI compares a hotel’s revenue performance to its competitive set. Average Rate Index (ARI) Definition : ARI measures a hotel’s average daily rate (ADR) performance against its competitive set. Let’s delve into these KPIs and explore their significance.

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Definition Article Marketing Pricing 109

Hospitality Net

FEBRUARY 16, 2024

NYSE: AHT) ("Ashford Trust" or the "Company") today announced that it has signed a definitive agreement to sell the 144-room Residence Inn located in Salt Lake City, Utah (the "Hotel") for $19.2 When adjusted for the Company’s anticipated capital expenditures, the sale price represents a 4.6% Ashford Hospitality Trust, Inc.

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Definition Pricing 79

Larry Mogelonsky

DECEMBER 9, 2024

Recall the Mille Club is, by our definition, for properties that consistently offer guestroom rates above the $1,000 level.) This is all valuable in fine-tuning our pricing and packaging. With 90 rooms and suites, the El Encanto welcomes guests with warm, enthusiastic greetings consistent with what one expects from a Mille Club member.

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Concierge Definition Pricing Marketing 130

EATER

APRIL 18, 2024

Illustration by Michael Hoeweler ; Collage by Lille Allen Cash app notifications have a way of testing the definition of hospitality Welcome to Rules of Consumption, a column where Eater staff writer Amy McCarthy answers any and all questions you have regarding dining etiquette. Have a conundrum? Email advice@eater.com for answers.

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Procurement Definition Pricing 139

Revenue Hub

NOVEMBER 21, 2022

Considering hotels’ perishable product, fixed capacity, high fixed cost and low variable cost environment, the ability to set the right price, for the right customer at the right time has been perceived as the perfect solution to earn more revenue and gain higher profits. Only then we can talk value to customers and pricing, right?

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Pricing Definition Marketing Article 95

Modern Restaurant Management

JANUARY 31, 2024

Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. But what we’ve found is that operators have been leaning on menu price hikes to cover their expenses for more than two years now, and they’ve finally reached the limits of what consumers are willing to pay.

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Multi-Unit Operations Bookkeeping POS Systems Pricing 203