Modern Restaurant Management

NOVEMBER 15, 2022

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

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Pricing Communication Marketing Training 196

InnQuest

SEPTEMBER 5, 2023

Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Effective management ensures that rooms are allocated efficiently and priced competitively. These are managed as inventory and must be scheduled and priced accordingly.

Guest Satisfaction 218

Guest Satisfaction Maintenance Pricing Book 218

Revenue Hub

SEPTEMBER 27, 2024

NB: This is an article from Knowland Subscribe to our weekly newsletter and stay up to date Also known as attribute-based pricing, the shift allows guests to customize their stay by selecting only the necessary services, potentially reducing costs and enhancing their overall experience.

Pricing 106

Pricing Guest Satisfaction Communication Book 106

Revenue Hub

OCTOBER 3, 2023

ZHAW School of Management and Law, based in Winterthur, Switzerland, conducted a study of 37 hotels that implemented dynamic pricing in 2021 and 2022, evaluating the effectiveness and impact of the RoomPriceGenie revenue management system. What happens to guest satisfaction after hotels start implementing RoomPriceGenie?

Pricing 109

Pricing Guest Satisfaction Article Marketing 109

Revenue Hub

SEPTEMBER 2, 2024

Price skimming can be highly effective, especially during peak demand periods like major events or holidays. However, many hotels have yet to fully capitalize on this strategy, often hesitating due to concerns about guest satisfaction and potential reputational risks. The goal is to maximize total revenue rather than occupancy.

Pricing 109

Pricing Guest Satisfaction Events Article 109

Hotel Business

JULY 16, 2024

in October 2023—virtually every traveler in every hotel price bracket is paying more for a hotel room. Power 2024 North America Hotel Guest Satisfaction Index (NAGSI) Study , travelers’ perceived value for those higher prices is very much dependent on how well the hotel delivers on their expectations. days, up from 3.36

Guest Satisfaction 64

Guest Satisfaction Maintenance Pricing Communication 64

Hotel Business

SEPTEMBER 4, 2024

Power 2024 North America Third-Party Hotel Management Guest Satisfaction Benchmark , overall guest satisfaction with branded hotels run by the nation’s largest third-party management companies improves significantly this year, outperforming both chain-managed and independently operated hotels. The post Davidson tops J.D.

Guest Satisfaction 64

Guest Satisfaction Maintenance Pricing Communication 64

Revenue Hub

JULY 27, 2023

NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business. In this approach, hotel rooms are viewed and sold as commodities, regardless of who the guest is.

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Pricing Guest Satisfaction Article Blog 98

InnQuest

OCTOBER 3, 2023

This efficiency extends to check-in and check-out processes, leading to shorter wait times for guests and improved staff productivity. This accuracy not only improves guest satisfaction but also minimizes disputes and the associated administrative burden. These options include credit cards, mobile payments and digital wallets.

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Guest Satisfaction Information Property Management Blog 221

Revenue Hub

DECEMBER 12, 2023

In a hospitality industry marked by fierce competition and evolving consumer preferences, dynamic pricing has emerged as an indispensable strategy for success. This nuanced pricing approach, characterized by its responsiveness to market dynamics, plays a crucial role in enhancing key performance indicators (KPIs) for hotels.

Pricing 109

Pricing Guest Satisfaction Article Marketing 109

Revenue Hub

APRIL 8, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date We need hoteliers to embrace innovative strategies that resonate with modern travelers, setting a new standard for hospitality excellence beyond competitive pricing.

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Pricing Guest Satisfaction Article Budgeting 94

InnQuest

SEPTEMBER 12, 2023

These components are integral to providing a positive guest experience and achieving financial success: Front Office Operations: The front office is the face of the hotel. It handles guest reservations, check-in/check-out processes, and room assignments and provides concierge services.

Maintenance 220

Maintenance Guest Satisfaction POS Systems Housekeeping 220

Revenue Hub

AUGUST 23, 2023

Price is a very significant yet sensitive topic for many travelers. NB: This is an article from Travel Media Group Receiving online guest reviews related to this subject is common, and these reviews need the utmost attention and consideration when writing a response to them.

Pricing 97

Pricing Guest Satisfaction Information Article 97

InnQuest

OCTOBER 17, 2023

They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates. Hotel Overbooking: Concerning or Not?

Reservations 221

Reservations Guest Satisfaction Book Pricing 221

STAAH

SEPTEMBER 13, 2023

Driving direct bookings is essential for maximizing revenue and maintaining control over your property’s pricing strategies. One valuable tool that can help you achieve this is the STAAH Smart Pricing feature which is available for SwiftBook users. What is Smart Pricing in STAAH SwiftBook?

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Pricing Book Guest Satisfaction Blog 100

InnQuest

MARCH 2, 2023

Invest in Technology Technology has become an essential tool in the hospitality industry, and investing in the right technology can help streamline operations and improve guest experiences. This means regularly analyzing your sales and revenue data, tracking customer satisfaction, and gathering feedback from guests and employees.

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Customer Service Training Guest Satisfaction Pricing 224

InnQuest

APRIL 3, 2023

Maximizing Revenue in a Competitive Market Implementing a dynamic pricing strategy can improve revenue management and help hotels maximize profits. With real-time, automatic rate optimization, hotels can adjust rates dynamically in response to demand fluctuations, ensuring they are competitively priced.

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Training Property Management Special Events Guest Satisfaction 222

Hotelogix

NOVEMBER 28, 2024

Letting AI Handle the Boring Stuff Behind every great guest experience is a ton of behind-the-scenes work room assignments, housekeeping schedules, pricing updates, you name it. AI can predict which rooms need cleaning first, suggest price adjustments based on demand, and even help manage your restaurant’s inventory.

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Housekeeping Budgeting Demo Guest Satisfaction 147

Revenue Hub

JULY 13, 2023

Imagine a world where your hotel knows what a guest wants even before they do. NB: This is an article from RateGain A world where your pricing strategy is not just about numbers, but about understanding choices, dreams, and the urge to travel. Revenue managers are no longer just setting prices based on supply and demand.

Pricing 98

Pricing Book Guest Satisfaction Article 98

Lodging Magazine

JULY 16, 2024

in October 2023 —virtually every traveler in every hotel price bracket is paying more for a hotel room. Power 2024 North America Hotel Guest Satisfaction Index (NAGSI) Study, travelers’ perceived value for those higher prices greatly depends on how well the hotel delivers on their expectations. hotel room of $158.45

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Guest Satisfaction Pricing Magazine 116

Hotelogix

JULY 5, 2024

Hotel reservation software for small hotels is like a super helper that makes booking rooms easy and keeps guests happy. It helps small hotels by managing their rooms, setting prices, and deciding rules like minimum stay.  It also sends out automatic emails or messages to guests. 

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Reservations Guest Satisfaction Book Property Management 130

Hotelogix

AUGUST 13, 2024

Attribute-Based Selling Conventional room selling typically involves categorizing rooms into standard types, such as single, double, suite, or deluxe, each with a predefined set of features and a fixed price. This customization enhances guest satisfaction and opens up new revenue opportunities for hotels.

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Guest Satisfaction Pricing Book Demo 130

Hotelogix

OCTOBER 24, 2024

A Central Reservation System (CRS)  helps hotels manage room availability, pricing, and bookings from different channels. A CRS hotel system makes sure that all room inventory and pricing are updated in real time.  Guest Satisfaction : A CRS ensures that room availability and pricing are always accurate and up to date.

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Reservations Guest Satisfaction Pricing Book 130

Hotelogix

APRIL 22, 2024

For instance, by analyzing stay patterns and booking sources, you can optimize your marketing campaigns and pricing strategies to attract the right audience at the right time. By utilizing data collected from past stays, such as guest preferences and behavior, you can craft customized experiences that resonate with each guest.

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Guest Satisfaction Book Pricing Reservations 130

Revenue Hub

JUNE 26, 2024

The process of revenue management involves analyzing vast amounts of data to forecast demand, segment customers and determine the optimal price for each room, based on real-time market conditions, among other factors.

Guest Satisfaction 109

Guest Satisfaction Pricing Training Article 109

Revenue Hub

JUNE 18, 2024

A common concern for many hoteliers (especially Front Desk Managers) is that guests will be upset and feel “ripped off” if a hotel implements dynamic pricing. A common concern for many hoteliers (especially Front Desk Managers) is that guests will be upset and feel “ripped off” if a hotel implements dynamic pricing.

Guest Satisfaction 109

Guest Satisfaction Pricing Housekeeping Communication 109

Hospitality Net

JULY 17, 2024

in October 20231—virtually every traveler in every hotel price bracket is paying more for a hotel room. Power 2024 North America Hotel Guest Satisfaction Index (NAGSI) Study,SM released today, travelers’ perceived value for those higher prices is very much dependent on how well the hotel delivers on their expectations.

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Guest Satisfaction Pricing Marketing 52

Revenue Hub

FEBRUARY 21, 2024

This trend enables more accurate forecasting, dynamic pricing, and personalized marketing strategies, significantly enhancing revenue potential. Dynamic Pricing: The Heartbeat of Yield Management Dynamic pricing remains at the forefront of yield management strategies.

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Guest Satisfaction Pricing Article Book 104

Hotelogix

OCTOBER 17, 2024

Boosting Guest Satisfaction: Guest feedback is critical for any hotel. KPIs such as the Net Promoter Score (NPS) and customer satisfaction ratings provide valuable insights into what guests think about their experience. This information is vital for making changes that enhance guest satisfaction.

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Guest Satisfaction Book Information Property Management 130

Hotel Business

SEPTEMBER 7, 2023

Power 2023 North America Third-Party Hotel Management Guest Satisfaction Benchmark , those investments are paying off in the form of strong satisfaction scores for quality of the guestroom and staff service. “In The North America Third-Party Hotel Management Guest Satisfaction Benchmark was redesigned for 2023.

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Guest Satisfaction Maintenance Communication Training 111

Revenue Hub

AUGUST 7, 2023

Subscribe to our weekly newsletter and stay up to date By leveraging sophisticated technologies and analyzing vast amounts of data, revenue management analytics empowers hoteliers to make informed decisions that drive revenue, enhance guest satisfaction, and secure a competitive edge.

Guest Satisfaction 98

Guest Satisfaction Pricing Article Book 98

Hotelogix

NOVEMBER 7, 2024

It means handling issues calmly, staying professional during crises, and making sure your guests always feel valued. Guest satisfaction. It’s the key to keeping guests coming back and turning new visitors into loyal customers. Thoughtful Follow-Ups Once your guests check out, stay connected with them.

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Guest Satisfaction Training Demo Housekeeping 130

Hotelogix

NOVEMBER 28, 2024

It can directly impact revenue, guest satisfaction, and your ability to scale. After adopting a channel manager, they: Cut errors by 85% Increased bookings during peak season by 25% Saw guest ratings improve due to better communication Channel Management Best Practices Using the right channel manager is only half the job.

Book 130

Book Property Management Reservations Pricing 130

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.

Marketing 100

Marketing Guest Satisfaction Book Budgeting 100

Hotelogix

OCTOBER 4, 2024

A channel manager allows you to update room availability, pricing, and bookings across multiple platforms like Booking.com, Expedia, and more—all from one place. This tool not only simplifies operations but also helps maximize revenue and improve the guest experience. What is a Channel Manager? 

Pricing 130

Pricing Guest Satisfaction Book Demo 130

Revenue Hub

AUGUST 29, 2023

NB: This is an article from Catala Consulting This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Its core principle is the sale of the right product to the right customer, at the right time and for the right price. Why is Revenue Management Imperative for Resorts?

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Guest Satisfaction Pricing Strategic Planning Article 98

Hotel Business

JULY 26, 2023

Power 2023 North America Hotel Guest Satisfaction Index (NAGSI) Study , released today, staff service garners the highest level of satisfaction among all guest experience factors measured. In upscale hotels, particularly upscale extended-stay hotels, guests are looking for a lobby that is welcoming and inviting.

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Guest Satisfaction Pricing Customer Service Communication 98