EATER

JUNE 4, 2024

Make reservations. For restaurants that accept reservations, reserve. It can be hard for diners to tell if a place requires reservations or not, so unless a restaurant specifically states on its website that it doesn’t accept them, assume you’ll need to book. If you make a reservation, honor it. and keep them.

Reservations 113

Reservations Book Definition POS Systems 113

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

SiteMinder

JUNE 26, 2024

It’s a holistic process that hotels can use to effectively manage pricing, inventory, distribution, customer demand, and more to promote revenue growth. Revenue optimization vs revenue management In terms of definition and practice, there is a difference between revenue optimization and revenue management.

Pricing 72

Pricing Book Reservations Blog 72

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.

Reservations 218

Reservations Definition POS Systems Customer Service 218

STAAH

DECEMBER 13, 2023

Pricing Foundations: Get more bookings with flexible and non-refundable rates! This rate plan is often preferred by price-sensitive travellers. First Reservations Once you have connect with Booking.com on STAAH as one of your online channel. Properties can then use the Rates and Availability API to implement pricing per guest.

Book 80

Book Blog Pricing Reservations 80

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

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.

Definition 103

Definition Article Pricing Marketing 103

Revenue Hub

OCTOBER 25, 2022

Armed with this knowledge, your property can determine the best price point and launch a successful campaign. Your frontline staff will be the ones dealing with the increased volume, so they definitely need to know what’s happening.

Book 85

Book Housekeeping Article Definition 85

STAAH

MAY 24, 2023

2)Booking window visibility: Knowing the average booking window gives accommodation owners insights into the timing of reservations. This information helps in optimizing pricing strategies and promotional activities, allowing properties to offer the right deals at the right time. How to view Market Insights in STAAH MAX?

Marketing 84

Marketing Information Pricing Guest Satisfaction 84

Revenue Hub

OCTOBER 10, 2023

A few of the many key pieces of information include current comp set data about who we price to and how, accurate room type descriptions and premiums on room type pricing, the cost to service a room and even the wash factor by segment.

Information 105

Information Reservations Pricing Events 105

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.

Multi-Unit Operations 203

Multi-Unit Operations Bookkeeping POS Systems Pricing 203

MEWS

JANUARY 16, 2023

It is about lower-priced shared accommodations with a large dorm room containing bunk beds and shared bathroom facilities. Hostels are able to keep prices down by offering basic services and amenities. Similarly, the best thing about hostels is that you can usually find a bed (oftentimes hostels even reserve some beds for walk-ins).

Budgeting 130

Budgeting Reservations Book Housekeeping 130

Hotel Owner

MARCH 11, 2024

Details pending a definitive agreement. Analysts anticipate stability in price changes for 2024, driven by potential declines in interest rates and modest revenue growth. Earnings are up 28% from 2022, with reservations rising by up to 64% across European and US properties.

Definition 52

Definition Book Reservations Pricing 52

Revenue Hub

OCTOBER 11, 2024

For us, the cancellation rate on the GDS is definitely lower than on other distribution channels, but it depends on the guest,” said Julia of Platzl Hotels. “Our At the Evergreen Laurel Hotel, in addition to low cancellation rates, Magali likes the fact that GDS reservations are guaranteed in the event of no-shows.

Book 97

Book Article Definition Reservations 97

Revenue Hub

APRIL 3, 2023

Sponsored Benefits Through this program, customers receive a price incentive when booking through booking.com. Booking.com offers customers a competitive price for their accommodation, i.e. the customer may be offered a cheaper price than you have set. The pricing per occupancy is important for the rates.

Book 79

Book Pricing Article Information 79

SiteMinder

MARCH 13, 2024

Cheapest hotel app There’s really no definitive ‘cheapest’ hotel app, since budget hotels and affordable accommodations can be found on all apps. Travellers might also use metasearch apps like Trivago , or local apps such as Australia’s Wotif , to discover properties at lower prices and easily compare their options.

Book 78

Book Reservations Blog Housekeeping 78

Revenue Hub

SEPTEMBER 27, 2023

The original transaction covers the real estate and operational costs of the room reservation. Any room product that can be sold over the original reservation is nearly 100% profit. Since these room attributes are, by definition, room product, ABS upsells are basically pure profit and pure NOI (net operating income).

Reservations 95

Reservations Guest Satisfaction Housekeeping Article 95

Revenue Hub

APRIL 17, 2024

It was the very yearly days where revenue managers were very much viewed as executive reservation managers and expected to perform reservation manager duties. Since then, revenue management has taken its rightful place at the table but is still sometimes viewed simply as pricing strategies and inventory control.

Marketing 90

Marketing Information Budgeting Reservations 90

Modern Restaurant Management

JULY 24, 2020

If they are paying their workforce, they most definitely are doing so with a reduced headcount. Companies depend on the strength of their balance sheet and reserves and in a situation as severe as the pandemic, it may have made more business sense for them to hold on to the PPP funds received.

Cost Reduction 214

Cost Reduction Pricing Strategic Planning Definition 214

STAAH

MAY 21, 2023

The challenge Whilst the properties were doing a great job of delivering an exceptional guest experience, the absence of a secure online payment mode was definitely felt by staff who had to monitor payments for every reservation manually. Another challenge the group faced was the rising cost of OTAs – the ever-increasing commissions.

Demo 78

Demo Book Document Definition 78

Restaurant Engine

JULY 10, 2024

1: Your Food Costs Change Prices change from year to year and sometimes from month to month. If you’re analyzing your food costs on a regular basis, you may notice that your menu items and prices aren’t keeping up with food costs. At the very least, you want to compare vendor prices and then decide on your menu. #2:

Pricing 52

Pricing POS Systems Definition Marketing 52

Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Article Summary: What is the Definition of Revenue Management? Why is Revenue Management Important to Hotels & Other Industries?

Pricing 52

Pricing Book Budgeting Marketing 52

Restaurant Engine

MAY 22, 2024

3: Offer Prix Fixe Meals You can also reserve a portion of your menu where you feature a prix fixe meal. Prix fixe is French for a fixed price and offers a meal at a set price. You definitely don’t want them to have to wait for you to find space for them or to put tables together. You get to decide.

POS Systems 108

POS Systems Marketing Server Pricing 108

Revenue Hub

NOVEMBER 7, 2023

Plus, use our Excel template to collect the necessary data without relying on a PMS for seamless reservations history analysis. The ADR reflects the average price at which rooms are sold, offering a benchmark against competitors. Get the know-how to harness your accommodation’s historical data for your revenue forecasts.

Download 90

Download Article Pricing Definition 90

Modern Restaurant Management

JANUARY 26, 2022

On Valentine’s Day, restaurants fill up quickly with reservations from couples eager to spend a romantic night together. To determine this number, look at how much your average customer would spend and increase the price. For example, if your customers typically spend $50 in one visit, offer a gift card for those who spend $75.

Events 225

Events Special Events Definition Catering 225

Hotelogix

NOVEMBER 17, 2023

Once your audience finds your hotel's website rate on metasearch engines and if it matches their price point, they will definitely book directly with you.  So make sure you get your hotel listed on popular metasearch engines to enhance your online visibility.

Book 130

Book Blog Reservations Definition 130

Synergy Suite

DECEMBER 7, 2023

Revenue per seat represents the average income generated for each occupied seat within a specified timeframe, offering a nuanced perspective on customer spending patterns and the effectiveness of pricing strategies. It helps you identify trends, measure the impact of pricing changes, and assess the success of marketing initiatives.

POS Systems 52

POS Systems Pricing Training Reservations 52

Modern Restaurant Management

JUNE 27, 2022

They may have discovered you from an Eater article, booked their reservation through OpenTable, or located you via Google Maps, and they will surely review their experience on Yelp — whether positive or negative — when their meal is complete. Restaurant customers do everything from their phones. They’re Easier to Update.

Article 203

Article Definition Customer Service Budgeting 203

Synergy Suite

MARCH 21, 2023

Efficiently managing your restaurant’s tables and reservations is a critical aspect that can significantly impact your overall success. A restaurant table management system is a digital platform that automates and centralizes the process of managing table reservations, waitlists, and seating arrangements.

POS Systems 52

POS Systems Reservations Communication Demo 52

Synergy Suite

APRIL 17, 2023

A well-crafted website will allow your customers to view your menus, book a reservation, find your physical location, order delivery, and contact you directly. You can integrate reservation systems and online ordering platforms and even build a blog to share recipes or behind-the-scenes stories.

POS Systems 52

POS Systems Reservations Blog Back of House 52

SiteMinder

NOVEMBER 16, 2022

“Our staff efficiency has improved – we managed to save our payroll cost for the Reservations department by 30%,” said Patrick and Mason. This allows us to use dynamic pricing more efficiently which results in being able to increase our ADR.”. Thank you Kuching Park Hotel and keep up the great work!

Definition 52

Definition Book Reservations Property Management 52

Hotel Owner

SEPTEMBER 25, 2023

These eliminate guests queuing for 10-15 minutes to check in and has most definitely been welcomed by the business traveller. Oh, and we won’t be beaten on price either! Contactless kiosks being used has certainly increased, especially in the busier city centre hotels & chains. So technology while retaining a personal feel?

Book 93

Book Events Definition Customer Service 93

Revenue Hub

JUNE 28, 2023

to improve your strategies Strategy has a lot of definitions, but when boiled down it ultimately is an exercise in problem solving. To answer this, we needed to bring in the operations (front office, reservations, housekeeping) teams and present our initial findings. Using “why?”

Strategic Planning 83

Strategic Planning Housekeeping Article Book 83

InnQuest

JULY 11, 2022

Nowadays, most customers prefer to check out a hotel’s website before making a reservation. Providing such social proof is a definitive way to nurture your leads, earn their trust, and convert them into sales. This is why we offer competitive pricing, without sacrificing quality or functionality in our software solutions.

Marketing 130

Marketing Travel and Tourism Definition Book 130

SiteMinder

NOVEMBER 17, 2023

If I want to set a new rate, I just log in to SiteMinder, change the price and it goes out to all channels in one click. While the staff had to manually key in new reservations in the past, the booking details now flow directly into the PMS. Our front desk team also handles reservations, so this took a lot of work off their plate.

Book 69

Book Reservations Pricing Definition 69

Les Roches

DECEMBER 30, 2023

Definition of product Let’s start by e­stablishing a shared understanding of the te­rm ‘product’ in a business context. Definition of service As above, it’s also important to have a clear unde­rstanding of what defines a service­. They lack physical substance.

Guest Services 95

Guest Services Concierge Definition Customer Service 95

EATER

DECEMBER 15, 2023

Banchan and scallion salad are paired with shrimp cocktails served alongside gochujang cocktail sauce; wedge salads arrive with sesame dressing; caviar service not only arrives, but with a whopping price tag to boot. But there’s definitely a growing interest in doing Korean barbecue differently with a focus on the quality of ingredients.

Definition 110

Definition Pricing Catering Reservations 110