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The journey towards a guest-centric revenue management approach is multifaceted, involving a shift in strategies and a transformation in the tools and mindsets of those who implement them.
Twelve months ago, our heads exploded when we tried ChatGPT. Now, AI is a workhorse for writing emails, social media posts, grant submissions, and analysing financials or customer reviews on Google. We’re all early adopters when something is so intensely useful. So what else is promising big changes for sales, cost control, and productivity? Self-service kiosks Stand in McDonald’s and notice how kiosks are part of the scenery for most customers.
Eighty-one percent of diners said they would either stop going to a restaurant altogether or alter their dining hours to avoid prices surging during peak hours and 64 percent said they have a negative reaction to restaurants using surge and dynamic pricing, according to a HungerRush’s National Restaurant Price Surging Survey. “This is an alarming statistic for restaurant owners and operators, potentially leading to an increase in lost revenue or creating new peak hours,” Bill M
Much-loved coffee and brunch space Ora has swung open the doors to its new-look venue after undergoing renovations. Located in Kew’s Willsmere Village, Ora’s new extended and renovated space seats 40 guests, and includes indoor and outdoor seating options. Along with the revamp which is now open for brunch and coffee, Ora will also be launching a walk-ins only dinner service starting tomorrow Friday 18 April.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Just a few years ago, brewers could reliably expect hundreds of enthusiasts to swarm their special releases. Today, beer whales—and their attendant hype—are few and far between.
Renowned flame-kissed establishment Burnt Ends is coming to Australia to host a two-day pop-up at Perth’s Indigo Oscar on 10 & 11 May. Burnt Ends Head Chef and Co-founder Dave Pynt will be on the pans at the Latin American-inspired restaurant in Cottesloe for three seatings across the two days. Guests will be able to book in for either a 10-course set dinner ($350pp) on the Friday and Saturday, or a 8-course lunch ($295) on the Saturday.
Hospitality America, a leading hotel development and management company, announces the opening of TownePlace Suites by Marriott Raleigh-Durham Airport / Morrisville in North Carolina. The new 112-suite hotel is built for travelers looking for a simple and friendly place where they can settle in, keep to their routines, and easily connect to Raleigh Durham International Airport and Raleighs Research Triangle area.
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Hospitality America, a leading hotel development and management company, announces the opening of TownePlace Suites by Marriott Raleigh-Durham Airport / Morrisville in North Carolina. The new 112-suite hotel is built for travelers looking for a simple and friendly place where they can settle in, keep to their routines, and easily connect to Raleigh Durham International Airport and Raleighs Research Triangle area.
The Henley is the first venue announcement from Crown Melbourne as the Southbank destination begins its redevelopment. Slated to open in 2024, the Mitchell & Eades-designed bar will take over from Rosetta, which is closing its doors on 18 May. “The announcement of The Henley at Crown Melbourne signifies the start of what is to come for Crown,” says Mike Volkert, Crown Melbourne CEO. “We are looking to create a portfolio of restaurants and bars that bring together the best culinar
Picking fruit from a belimbing buluh tree. | Jonathan Tan Foragers avoid cops and nosy neighbors to make dinner from Singapore’s flowering hillsides and teeming shorelines, all while challenging the city’s conception as a hypermodern nation Without understanding exactly how I’d gotten there, I straddled the side of a steep hill in downtown Singapore, stretching my arm into the branches of a belimbing buluh tree for plump yellow-green fruits.
Leading hotel franchise Choice Hotels Asia-Pac is continuing to invest in expanding its portfolio, welcoming two new team members to its Investments & Development team to power the business’ growth agenda:
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
The meetings and events business continues to draw visitors from around the world to the most desired destinations. The path back seems smoother than ever for hoteliers who are getting their groove back. Indeed, the meetings industry continues to be an essential revenue driver for increasing profitability for hotels of almost any size. For meeting planners, however, the story may be a little different.
JW Marriott Mumbai Juhu is pleased to announce the promotion of Ms Nikita Ramchandani, as the Multi - Property Vice President for the Marriott International Mumbai Market. She will undertake this pivotal role while concurrently serving as the General Manager of JW Marriott Mumbai Juhu.
Dina Ávila A rice dish eaten throughout Southeast Asia, it’s a showcase for finely chopped fresh herbs Nasi Ulam is a heritage dish of Southeast Asia, with Malay, Peranakan, and Indonesian versions, all of which vary slightly. The basic structure of the dish incorporates finely chopped herbs, like lemongrass, kaffir lime leaf, and mint, into freshly cooked white rice.
IHG Hotels & Resorts (IHG) and NOVUM Hospitality announce a long-term agreement that will double IHG’s presence in Germany to more than 200 hotels in almost 100 cities through an exciting Holiday Inn – the niu brand collaboration and European debuts for IHG’s Garner and Candlewood Suites brands.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
WASHINGTON—The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data. U.S. Hotel PipelineMarch 2024 Percentage change from March 2023In construction: 156,525 rooms (up 1.5 percent)Final planning: 263,316 rooms (up 9.8 percent)Planning: 324,522 rooms (up 39.5 percent) “While the number of rooms in construction has grown, that figure remains below what was seen prior to the pandemic,” said Isaac Collazo, ST
Accor, the largest hotel operator in Australia, has once again been named as one of the best companies to work for in Australia, having been recognised as a 2024 5-Star Employer of Choice (500+ employees) by HRD Australia for the second consecutive year.
The global distribution system (GDS) continues to perform for independent accommodation providers with reservations up 34.5% in the past year and up 4.2% on 2019 pre-pandemic levels, according to the Independent Accommodation Insights Report from HotelREZ Hotels & Resorts. HotelREZ Hotels & Resorts, a hotel representation company, found thet GDS reservations have grown 51.2% vs. a decade ago (2014).
Nonius TV & Cast for Chromecast Gen4, a groundbreaking solution designed to breathe new life into older or less capable TVs, enhancing guest experiences without the significant investment of a complete technology renovation.
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
In the 1960s, Global Distribution Systems (GDS) revolutionized the hotel industry. In the 90s and 2000s, Online Travel Agencies (OTAs) forced hotels to adapt once again. Now, Artificial Intelligence (AI) is set to transform the way hotels manage revenue and stay competitive. NB: This is an article from LodgIQ , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Your legacy Revenue Management System (RMS) may have served you well in the past, but the old systems are
IRIS, a global leader in digital ordering for the hospitality industry, today announces the integration of its F&B mobile ordering solution with Infrasys Cloud POS by Shiji. This strategic partnership will enrich the guest experience, save labour and increase ancillary revenue.
Ah, the elusive weekdays – the underdog of hotel bookings. While weekends bask in the limelight of bustling activity, weekdays often languish in the shadows of low occupancy rates. NB: This is an article from Userguest , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date But fear not, for in the realm of hospitality, challenges are but opportunities in disguise!
A loyalty program has a positive impact by increasing customer frequency, improving customer retention, growing the average basket, and ensuring profitability. That profitability is possible because you are using data generated from the program to reward profitable behavior, anticipate customer needs, and increase efficient buying practices.
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
Rapidly advancing technology and ever evolving guest expectations have given rise to the opportunity for substantial transformation in roles traditionally siloed into the areas of marketing and revenue management. NB: This is an article from Patricia Davis , SVP Marketing & Communications at Davidson Hospitality Group Subscribe to our weekly newsletter and stay up to date In a time where technology allows marketers to be nimbler and tactics to be more targeted than ever, an integrated effort
Accor, a world-leading hospitality group, continues to evolve and strengthen its outstanding portfolio of brands in 2024, achieving key milestones while continuing to pioneer new and exciting experiences throughout its network. Over the course of its 57-year history, Accor has progressively shaped an industry-leading portfolio of 45+ hospitality brands, meeting the diverse needs and expectations of guests all around the world.
With all the hype surrounding Google Ads’ Performance Max (PMax) campaign we decided to take a deeper look into exactly what this black box is really doing with your hotel marketing dollars. NB: This is an article from three&six , one of our Expert Partners Our clever team have analyzed keyword data from these notoriously opaque campaigns, and uncovered the truth about PMax for hotels.
If you plan to roll out a new smart technology or artificial intelligence tool at your hotel, you need to design a thorough team onboarding process. Getting your hotel staff on board with a new solution is key to successful adoption and operational efficiency, but it can also positively impact employee morale and retention. Many The post Ten Steps to Successfully Introduce AI to Your Hotel Teams appeared first on Revfine.com.
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), has announced the eight outstanding startups participating in Entrepreneur 20X (E20X) Charlotte held on June 26, 2024 at HITEC Charlotte. Technologies being showcased in the HITEC 2024 cohort run the gamut of streamlining both back- and front-of-house operations, building guest profiles for enhanced stay experiences and strengthening property-vendor relatio
Over the past year, business leaders and technical minds have delved into the potential of generative AI (GenAI) beyond creative tasks like writing fun poems or generating silly images. We’ve been part of these conversations, actively exploring how GenAI can be used to help organizations manage their data, derive insights [.
Never in human history have we had access to as much data as we do today. In recent years, the tools and strategies we use to process and understand insights derived from this data have become one of the hottest commodities – and with good reason. Organizations are able to harness the power of data to gain a deeper understanding of their operations, customer behaviors, and market trends, unlocking competitive advantages.
‘Sense of place’ has long been a buzz phrase. Linked to a range of disciplines from urban planning to sociology, nowadays it is increasingly being used in the hospitality industry. It captures the physical aspects, culture and history of a place, as well as its impact on the senses, which can trigger emotions. Over time, it can create feelings of familiarity, comfort and security, as well as a sense of belonging: it’s a place where one feels, quite literally, ‘at home’.
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
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