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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Pricing Article Events Marketing 89

Revenue Hub

OCTOBER 30, 2024

Welcome to the “rate wars,” where hoteliers engage in a constant game of pricing cat and mouse. From fancy software tools that track every rate change in real-time to secret phone calls under the guise of a corporate booker, hoteliers have mastered the art of “price espionage.”

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Pricing Training Book Marketing 91

Revenue Hub

MAY 7, 2024

Perfect competition is a term used in economics to describe a market structure where many buyers and sellers interact without any restrictions, and prices reflect the actual supply and demand dynamics. The industry is characterized by its diverse pricing and services and the advanced technological tools used to set those prices.

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Pricing Article Marketing Definition 94

STAAH

JULY 23, 2024

In the ever-evolving landscape of the hotel industry, finding the right pricing strategy can significantly impact your business’s success. One approach that has gained traction among savvy hotel owners and managers is dynamic pricing. But what exactly is dynamic pricing?

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Pricing Marketing Book Accounting 98

Revenue Hub

JANUARY 17, 2024

Despite the challenges, the pendulum of recovery and innovation is swinging, presenting opportunities for the hospitality industry in Spain to not only bounce back but to thrive in a post-pandemic landscape. This growth, due to multiple factors, currently leaves us in a situation of uncertainty: Will the price continue to grow rapidly?

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Pricing Travel and Tourism Article Presentation 98

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 75

Revenue Hub

OCTOBER 9, 2023

Pricing is a critical element of a hotel’s revenue management strategy. NB: This is an article from Agilysys The right pricing approach can help hotels optimize profitability, attract the right customer segments, and maximize return on margins. Each segment has distinct needs, booking behaviors, and willingness to pay.

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Pricing Article Book Marketing 93

SiteMinder

OCTOBER 18, 2023

What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.

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Pricing Book Events Marketing 105

SiteMinder

OCTOBER 10, 2023

What is hotel price monitoring? Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. This data-driven approach enables you to make informed pricing decisions , ensuring you remain competitive in the market while maximising revenue.

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Revenue Hub

OCTOBER 10, 2023

In the ever-evolving landscape of the hospitality industry, innovation and education are the keys to success. NB: This is an article from BEONx , one of our Expert Partners When it comes to maximizing revenue and occupancy rates, dynamic pricing strategies have taken a quantum leap forward.

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Revenue Hub

NOVEMBER 3, 2023

There’s a point where your strategy, your operating landscape, your owner expectations, your faith in the error bands of the system, and your viewpoint as a business leader come in to set that dial. Understanding the Longer-Term Impacts of Taylor Swift This relationship between quality and price exists in the RMS today.

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Revenue Hub

SEPTEMBER 26, 2023

NB: This is an article from Smartpricing In the competitive landscape of the hospitality industry, understanding the true cost of a hotel room isn’t just beneficial − it’s pivotal. A precise calculation influences pricing strategies, ensures profitability, and strengthens the foundation of your business. Download here!

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Pricing Download Article Marketing 99

Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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Modern Restaurant Management

AUGUST 2, 2024

As the landscape changes, 39 percent of leaders said they’re prioritizing investments in sales, marketing, and related technologies for the rest of 2024. As a result, they are making hard decisions to adjust prices and make menu changes. LTO Impact A new Placer.ai

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eHotelier

NOVEMBER 2, 2023

In the competitive realm of the hotel industry, navigating the Black Friday landscape requires more than just slashing prices. The day of frantic shopping, incredible deals, and unmatched excitement is on its way: Black Friday is just around the corner.

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Revenue Hub

OCTOBER 2, 2024

In the competitive landscape of the hospitality industry, a well-thought-out hotel commercial strategy can make all the difference between success and struggle. It involves a comprehensive approach to managing various aspects of the hotel’s operations, including pricing, marketing, distribution, and revenue management.

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eHotelier

FEBRUARY 7, 2024

Duetto, a global leader in revenue management systems, proudly unveils the successful acquisition of Micerate, a leading provider of dynamic pricing and online booking tools tailored for meetings and event spaces.

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Book Events Pricing 130

Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 Additional insights into QSR sales, traffic, and pricing trends are in the Revenue Management Solutions June Trend Report. Positive net sales in May (+1.9

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Revenue Hub

SEPTEMBER 19, 2024

Game theory begins with understanding that every guest is a player in the hospitality market, making choices based on various factors – price, location, brand reputation, and unique offerings. This move, in turn, can prompt competitors to adjust their pricing or promotions.

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Marketing Pricing Article Book 95

Revenue Hub

APRIL 25, 2024

Below you will find brief introductions and links to 5 case studies which can help hoteliers looking to optimize revenue, develop sophisticated pricing strategies, refine revenue management strategies, streamline operations, or seize opportunities in times traditionally considered off-peak.

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Download Pricing Article Marketing 100

Revenue Hub

OCTOBER 15, 2024

NB: This is an article from Lighthouse Subscribe to our weekly newsletter and stay up to date Instead of offering a consistent price, guests encounter different rates depending on where they book. Finding different prices for the same room confuses them and undermines their confidence in your hotel, negatively affecting your brand reputation.

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Pricing Book Article Marketing 87

Horizon Hospitality

JULY 17, 2024

Here, we explore the impact of these factors on food prices and offer practical strategies to help restaurants navigate this turbulent landscape. For restaurants, this means inconsistent availability of key ingredients and higher prices when they are available.

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Revenue Hub

AUGUST 14, 2024

NB: This is an article from Triptease , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Booking are smart, and they’re not going to let a designation CEO Glenn Fogel calls “dumb” keep them from maintaining their dominant position in the EU hospitality landscape.

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Book Pricing Article Presentation 90

Modern Restaurant Management

APRIL 1, 2024

Despite a general decline in dining frequency, families have shown resilience and an increased appetite for dining out, according to Revenue Management Solutions' Q1 Consumer Survey, “ Dining Dynamics in 2024: The Shifting Landscape of Consumer Tastes.” Strategies for Attracting Family Business Given a -2.1

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MEWS

APRIL 3, 2023

In such a competitive landscape, it is key to make good choices about hotel room rates to maximize occupancy and, in turn, revenue. The more options you have for room pricing, the more flexibility guests have when choosing a room that best suits their needs, and the easier it will be for them to choose you over the competition.

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Pricing 130

InnQuest

OCTOBER 24, 2023

Despite the rising popularity of OTAs, direct bookings continue to hold their own in the competitive landscape. Flexibility Direct bookings offer real-time pricing and promotion adjustments, giving you an advantage in responding to market dynamics.

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Reservations Book Pricing Guest Satisfaction 130

Hospitality Magazine

OCTOBER 2, 2024

R&CA CEO Suresh Manickam described the current factors impacting hospitality as “one of the most challenging economic landscapes in recent history”. With expected interest rate cuts and falling energy prices on the horizon, 43 per cent believing they’ll be in a better financial position next year.

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Download Catering Pricing Magazine 130

Modern Restaurant Management

OCTOBER 14, 2024

In the modern dining landscape, where convenience and customer experience are paramount, restaurants increasingly rely on electronic payment systems to facilitate transactions. For restaurants, especially those operating on thin margins, these fees can influence pricing strategies, profitability, and even operational decisions.

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Hotel Owner

OCTOBER 21, 2024

acres of landscaped grounds and has 51 letting bedrooms. Included within the guide price is a detached lodge located at the entrance to the site. The three-star Oaks Hotel near Burnley, Lancashire, has been brought to market inviting offers in the region of £1.8m. The AA three-star hotel sits in around 3.5

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Marketing Pricing 98

Lodging Magazine

OCTOBER 21, 2024

In today’s commercial real estate landscape, buyers and sellers are at odds in terms of their price points and expectations. Many sellers are reluctant to sell because they are in a loan that was locked in at a lower rate prior to rate increases, so they want to stay in their loans and continue to do business as usual.

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Pricing Magazine 58

Revenue Hub

JUNE 10, 2024

You can price the subscription plans based on your location, the amenities you offer and a handful of other key factors. But don’t be fixated on a price, remember flexibility is the key. Guests research, compare prices and book a room for a specific duration.

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Pricing Book Article Budgeting 88

Revenue Hub

AUGUST 10, 2023

Subscribe to our weekly newsletter and stay up to date Our recent survey identified the key things that influence travelers when making vacation decisions and how price plays into it. While you can’t change your location, understanding the local pricing landscape is crucial. Consider the location and views of each room.

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Budgeting Pricing Article Catering 84

Hospitality Magazine

JULY 8, 2024

12-seat Allta has joined Sydney’s omakase landscape in the CBD, officially opening to the public on 9 July. Open Tuesday to Saturday, each seat at the curved chef’s table is priced at $325 per head, which grants guests 15 courses centered around traditional and modern Korean ingredients and techniques.

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Pricing Magazine Book 130

Revenue Hub

JUNE 19, 2024

To bring their views and insights, we are joined by David McGloin , VP Sales for BEONx , one of our Expert Partners In this discussion we consider the challenges of managing Tour Operator business, from negotiating prices, to navigating the current uncertain travel landscape and the need for a more dynamic and organized approach to pricing and forecasting (..)

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Pricing 88

STAAH

APRIL 23, 2024

In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. Using technology like cloud platforms and integrated systems like STAAH Channel Manager improves revenue management efficiency , helping with pricing, inventory, and distribution processes to increase profits.

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Pricing Presentation Marketing Information 92

Revenue Hub

FEBRUARY 27, 2024

Many discussions focus on familiar strategies like dynamic pricing, personalized offers, and the use of revenue management systems, already widely used in big cities. Pricing is either static, “hurdle-based” or dynamic with fixed “intuitively based” thresholds. Conversely, under-pricing will lead to low rated compression.

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Pricing Budgeting Book Article 100

Boutique Hotel News

MARCH 14, 2023

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. The newly digitised events landscape, coupled with Cvent’s strong existing customer base and commitment to innovation, has provided a new growth vector in a post-Covid world.

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