Larry Mogelonsky

JANUARY 13, 2025

Meetings and events are in the midst of a renaissance heading into 2025, with numerous contributing factors as to why. Instead, many companies are more than willing to pay a premium for highly experiential events that leave every attendee thinking only, Wow, I cant wait until next year.

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InnQuest

AUGUST 8, 2023

Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.

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Pricing Guest Satisfaction Blog Budgeting 220

Boutique Hotel News

JUNE 16, 2023

UK: The four-star Lion Hotel , located in Criccieth, Gwynedd in North Wales, is up for sale at a reduced price of £1,800,000 marketed by business property adviser Christie & Co. The post The Lion Hotel for sale at reduced price of £1.8 It can easily surpass this now with the right operator.”

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InnQuest

MAY 11, 2023

As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world.

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Modern Restaurant Management

JANUARY 14, 2025

But it goes beyond figuring out how to source the freshest ingredients at the best price. Extreme Weather: By 2035, experts predict that higher temperatures alone will push up worldwide food prices by between 0.9 Negotiate Strategically : Don't be afraid to negotiate on price, payment terms, and delivery schedules.

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Hospitality Magazine

OCTOBER 3, 2022

The event includes a series of dinners that will be held every month on 8 October, 5 November and 10 December at Cooinda Lodge in Kakadu National Park. Tickets are priced at $199 per adult and $139 per child (including beverages). To book click here.

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Events Pricing Magazine Book 246

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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Hotelogix

NOVEMBER 7, 2024

This blog outlines simple, actionable strategies that hotels of all sizes can use to grow their business, from direct bookings to pricing strategies and everything in between. Read also: Guide on Customer Retention in Hotel Industry Encourage Group Bookings: Offer discounts or packages for weddings, business events, or group travel bookings.

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Hotel Business

NOVEMBER 22, 2024

Ancillary revenue and events will have a renewed focus: Room pricing pressure will play a role in the increased adoption of online booking and dynamic pricing for meetings and events. Hoteliers will also look to automate smaller events to streamline operations and staff efficiency.

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Revenue Hub

JANUARY 14, 2025

We included gas cards, a smores kit, information on local attractions and a travel themed magnetic photo frame and priced it as a value add. Events are another opportunity to drive unique promotions. You do not have to be in a city hosting a major event to celebrate a major event.

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Pricing Events Marketing Budgeting 105

Hotelogix

MARCH 23, 2025

As a hotelier, you're likely aware that effectively managing event spaces, such as conference halls and banquet rooms, can significantly boost your hotel's revenue. Hotel banquet and event venue management are no longer just about hosting weddings or corporate meetings. But have you been able to get it right?

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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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MEWS

MARCH 10, 2025

An event in town drove demand way up, and the rates were set to your standard (and low) prices. Your shift at the hotel is over, it's time to head home and get some rest. The next morning, everything looks great as every room is booked. But then it hits you there was more to gain. Revenue that could have been captured is now lost.

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Revenue Hub

JANUARY 24, 2025

Its about understanding that a hotel room isnt a static product with a fixed price tag. Its a dynamic asset that canand shouldfluctuate in price based on a whole slew of factors. In a nutshell, yield management means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week.

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Revenue Hub

NOVEMBER 7, 2024

Here’s some insights into how to do it effectively: Cross-Promotions with Local Events Partner with local event organizers to offer special accommodation packages. Adjust Your Pricing Strategy Smartly While slashing prices isn’t always advisable, adjusting your pricing strategy to market demand is critical.

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Pricing Book Events Article 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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Revenue Hub

NOVEMBER 14, 2024

You can help advance this goal by: Promoting ancillary services like your restaurant and spa Creating packages that include breakfast or parking Applying revenue strategies to function space, food & beverage, parking, and other revenue streams Controlling costs and factoring costs into pricing decisions 2. Price dynamically.

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Hotelogix

JUNE 10, 2024

In this context, hotel dynamic pricing is one of the most critical elements. What is dynamic pricing in hotels?  Dynamic pricing strategy in hotels allows hoteliers to optimize revenue by ensuring room rates accurately reflect market conditions and consumer behavior.

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Revenue Hub

OCTOBER 1, 2024

As a hotelier, one of the most critical aspects of revenue management is setting the right prices at the right times. This is where a seasonal pricing strategy comes into play. We explore what a seasonal pricing strategy is, why it’s essential, and how you can effectively implement it in your hotel.

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Pricing Special Events Article Book 109

Revenue Hub

SEPTEMBER 2, 2024

Price skimming can be highly effective, especially during peak demand periods like major events or holidays. We explore the ins and outs of price skimming in hotels, discussing how it works, its benefits and challenges, and best practices for implementing it successfully.

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Pricing Guest Satisfaction Events Article 109

Revenue Hub

JANUARY 10, 2025

Unlike traditional methods that rely on static pricing models and siloed data, gen AI introduces a dynamic and highly adaptable approach to decision-making. It requires balancing multiple variables – market demand, competitor pricing, seasonal trends, and customer preferences – to make informed decisions.

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Pricing Guest Satisfaction Book Marketing 109

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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Modern Restaurant Management

OCTOBER 17, 2024

It is consequentially more difficult for restaurant owners and operators to obtain comprehensive coverage at a fair price – let alone find policies with the specific coverages they need. Safety training should take place upon hire for all new employees, but that should not be a one-time event.

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Revenue Hub

NOVEMBER 20, 2024

A common myth in hotel revenue management is the belief that increasing prices during periods of high demand is a form of exploitation. Understanding Demand-Based Pricing in Hotels To start, let’s clarify what demand-based pricing means. Hotel demand fluctuates widely based on seasonality, local events, and economic conditions.

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Revenue Hub

SEPTEMBER 18, 2024

One of the most pervasive myths is the belief that offering low prices will automatically lead to high occupancy rates. In fact, setting prices too low can have several detrimental effects on a hotel’s revenue, profitability, and overall brand perception.

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Modern Restaurant Management

JANUARY 2, 2025

Restaurant owners looking to purchase an existing license can face prices up to $1 million depending on demand. Build Community Connections : Engage your local community through events and partnerships that build customer loyalty. The Hidden Costs of a Full Liquor License and a Cost-Effective Solution Across the U.S.,

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Modern Restaurant Management

JANUARY 10, 2025

Some brands may consider that they can offer an experiential focused bar menu for a more approachable price point for the consumer who may not opt for a full dining experience. A space designed with adaptability in mind allows operators to experiment with different table arrangements, seating configurations and event setups.

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Revenue Hub

MARCH 26, 2025

Rooms page: Provide detailed, easy-to-digest information on room types, features, and pricing. Weddings and events pages: Use testimonials, packages and imagery that helps guests picture their perfect event. Offers page: Emphasise exclusivity, urgency and the benefits of booking directly.

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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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Hotelogix

NOVEMBER 28, 2024

Personalizing Communication Channels Each segment prefers different communication methods: Corporate clients: LinkedIn, email newsletters Millennials: Instagram, mobile apps Senior travelers: Traditional mail, phone support Modifying Pricing Strategies Implement dynamic pricing based on segment behavior patterns.

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Hospitality Magazine

FEBRUARY 5, 2025

The tasting menu is priced at $590pp and includes snacks and petit fours. I believe we have tapped into the best way to make fine dining the show-stopping event it is intended to be. It’s an increase on the 2023 dining experience, which cost $420 per person. Reservations will be released shortly.

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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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Revenue Hub

DECEMBER 19, 2024

Dynamic pricing tools use algorithms to recommend the ideal rates and the right time. NB: This is an article from Lighthouse Subscribe to our weekly newsletter and stay up to date Price optimization works by collecting and analyzing data from sources like competitor rates, seasonal trends and external events.

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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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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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Revenue Hub

MARCH 10, 2025

In hotel management, blackout dates act as a powerful revenue tactic that can optimize pricing, control inventory, and boost profits during peak periods. These are periods when rooms are highly sought after, enabling hotels to establish ideal pricing and booking terms without depending on discounts.

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Hospitality Magazine

FEBRUARY 26, 2025

The two-day event will take place from 17-18 May at Galleria Ettalong Beach on the New South Wales Central Coast, with attendees set to experience the best natural, artisan, and small-batch beverages made by local producers handpicked by festival founders Mike Bennie and Kristy Austin. [It Masterclass tickets are priced at $20.

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