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

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.

Pricing 54

Pricing Book Article Budgeting 54

Hospitality Magazine

FEBRUARY 21, 2024

But it’s also essential to think about the landscape and how it’s evolving. Your website should also contain click-through tiles to social media accounts, contact information, a feedback form, a reservations section with a bookings policy, and opening hours. Has the drinks menu been updated?

Marketing 246

Marketing Accounting POS Systems Information 246

STAAH

FEBRUARY 14, 2024

In the dynamic landscape of the hospitality industry, efficient management of room inventory, rates, and reservations is paramount for success. A Central Reservation System (CRS) stands as the nerve center of a robust hotel distribution strategy. Benefits What is CRS?

Reservations 99

Reservations Book Guest Satisfaction Pricing 99

Revenue Hub

SEPTEMBER 5, 2023

This system enables hoteliers to keep track of available rooms, reservations, and occupancy rates in real-time. This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods.

Pricing 109

Pricing Reservations Training Article 109

Hotelogix

APRIL 22, 2024

Harnessing hotel data is essential for navigating the modern hospitality landscape, enhancing operational efficiency, and tailoring marketing efforts to meet guest preferences better. You can unlock a wealth of untapped revenue by analyzing data to forecast demand and adjust pricing accordingly. What is Hotel Data?

Guest Satisfaction 130

Guest Satisfaction Book Pricing Reservations 130

Revenue Hub

FEBRUARY 1, 2024

You know, that magical timeframe we’ve all been told is the sweet spot for securing reservations. This ‘perfect’ window has dictated pricing strategies, inventory management, and even marketing campaigns. They’re driven by necessity or desire, making them less price-sensitive. Well, it’s time to shatter that myth.

Book 107

Book Reservations Pricing Article 107

InnQuest

AUGUST 15, 2023

At a glance: – Understanding the Hotel Channel Management Landscape – What Is A Hotel Channel Manager? Each OTA has its own system, interface and requirements for updating room availability, rates and reservations. To learn about hotel pricing strategies to boost revenue in 2023, read this.

Reservations 130

Reservations Book Property Management Pricing 130

Revenue Hub

NOVEMBER 18, 2024

In today’s highly competitive hospitality landscape, understanding the digital customer journey is crucial for hotels looking to optimise their online presence and increase direct bookings. Consideration: They explore your website, reading about amenities, checking reviews, and comparing prices.

Book 108

Book Reservations Article Accounting 108

Revenue Hub

MARCH 22, 2024

The job was transactional as long as inventory and pricing were synchronized periodically. However, channel management has become vital for a hotel’s commercial success, with increasing reliance on OTAs driving a majority share of room night reservations and the emergence of metasearch players. This allows optimal decision-making.

Reservations 100

Reservations Book Pricing Article 100

STAAH

JUNE 4, 2024

Let’s delve into the essentials of hotel booking engines , understanding what they are, how they work, and why they are indispensable in the modern hotel landscape. A hotel booking engine is a software application integrated into a hotel’s website, allowing guests to reserve rooms directly. What is a Hotel Booking Engine?

Book 101

Book Guest Satisfaction Reservations Communication 101

Revenue Hub

AUGUST 30, 2024

From the perspective of our digital marketing agency, which specializes in boosting direct bookings for luxury hotels and resorts, understanding the symbiotic relationship between revenue management and metasearch is the key to unlocking success in today’s competitive landscape.

Book 106

Book Pricing Article Reservations 106

Hotelogix

JUNE 28, 2024

The Hotel cancellation policy allows guests to cancel reservations up to a specified time before check-in. When they are aware of the terms and consequences of cancellation, they are likely to commit fully to their reservations. Less administrative burdens:   Clarity minimizes disputes and administrative workload. 

Reservations 130

Reservations Book Demo Accounting 130

Hotelogix

NOVEMBER 28, 2024

The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape.  Business travelers often book last minute and value convenience over price, while leisure travelers book ahead and are more price-sensitive.

Marketing 100

Marketing Guest Satisfaction Book Budgeting 100

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 The financial implications are massive.

Pricing 100

Pricing Training Marketing Book 100

Hotelogix

SEPTEMBER 19, 2024

As the hospitality landscape evolves, knowing how to navigate these channels can significantly impact your occupancy rates and overall profitability. These platforms provide a self-service model that allows guests to compare prices, read reviews, and book rooms at their convenience.

Book 130

Book Demo Guest Satisfaction Reservations 130

Modern Restaurant Management

AUGUST 28, 2024

In today’s landscape, every customer is a potential critic with the power to significantly impact your brand's reputation, positively or negatively. Lastly, with the rise of inflation, consumers want their dollar to stretch even further and are continually looking for value beyond just low prices.

Guest Satisfaction 176

Guest Satisfaction Training Customer Service Accounting 176

InnQuest

JULY 29, 2022

The transformation brought about by the digital era has modernized and refined the hotel industry landscape and factors contributing to its growth to a large extent. Direct channels include a hotel’s website, walk-ins, reservations made via telephone, etc. Adopt A Dynamic Pricing Approach. for their clients in real-time.

Reservations 130

Reservations Book Pricing Information 130

SiteMinder

APRIL 25, 2024

With every passing year, revenue management is playing a more central role at hotels as they navigate a landscape now locked in a permanent state of change. A revenue manager who thinks they are indispensable because they can change pricing daily is a revenue manager living in the past.

Reservations 111

Reservations Pricing Communication Marketing 111

Revenue Hub

AUGUST 29, 2024

Managing marketing budgets effectively is crucial for any hotelier aiming to achieve sustainable growth in an increasingly competitive landscape. Understanding Seasonality in the Hospitality Industry Seasonality plays a pivotal role in the hotel industry, directly influencing demand, pricing, and overall profitability.

Budgeting 108

Budgeting Marketing Book Pricing 108

Modern Restaurant Management

MARCH 20, 2024

Backed by robust market research, proven brand awareness, and an understanding of changing consumer trends, a successful restaurant concept can show a clear-cut case on why the landscape is missing what they have to offer. Each metric tells its own story about the health of the business.

POS Systems 180

POS Systems Marketing Reservations Communication 180

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

STAAH

SEPTEMBER 5, 2023

In the fast-evolving landscape of the hospitality industry, cloud-based software solutions have become indispensable for staying competitive. An integrated booking engine within the website streamlines the reservation process, enabling seamless transactions and driving direct bookings.

Book 100

Book Guest Satisfaction Reservations Pricing 100

Revenue Hub

MARCH 20, 2024

Seamless Booking Process Make booking a breeze with a seamless reservation system that transforms dreams into reality with the click of a button. Implement an easy-to-use reservation system that allows guests to check availability, view room options, and complete bookings with minimal effort.

Book 109

Book Guest Satisfaction Reservations Article 109

Revenue Hub

FEBRUARY 14, 2024

In the bustling urban landscape, city hotels are in a constant race to maintain high occupancy rates. RMS utilizes real-time data to forecast demand, enabling you to adjust pricing dynamically. Implement Dynamic Pricing Dynamic pricing is key in responding to market demand fluctuations.

Article 109

Article Pricing Book Guest Services 109

Revenue Hub

SEPTEMBER 28, 2023

We decided to shed some light on the profound impact of Revenue Management Systems (RMS) in the evolving landscape of the hotel industry. Often referred to as RMS, it’s a technology solution tailored for hoteliers, allowing them to dynamically adjust room prices.

Pricing 109

Pricing Article Marketing Book 109

Revenue Hub

NOVEMBER 30, 2022

In this context, channel management is a process by which hoteliers control where and how they sell their products, namely hotel rooms and the ancillaries attached to them, across their distribution landscape. Understanding Past Performance and Future Demand by Channel.

Reservations 98

Reservations Pricing Book Accounting 98

Revenue Hub

JUNE 1, 2023

In today’s digital age, effective hotel distribution and pricing strategies are crucial for maximizing revenue and staying competitive. NB: This is an article from Staah With the rise of online travel sales and the influence of e-commerce and review sites, accommodation providers must adapt to the evolving distribution landscape.

Book 97

Book Reservations Article Pricing 97

STAAH

MAY 30, 2023

In today’s digital age, effective hotel distribution and pricing strategies are crucial for maximizing revenue and staying competitive. With the rise of online travel sales and the influence of e-commerce and review sites, accommodation providers must adapt to the evolving distribution landscape.

Book 94

Book Reservations Article Download 94

STAAH

AUGUST 6, 2024

The Global Distribution System (GDS) is a network that facilitates automated reservations between travel service providers, such as hotels, airlines, car rental companies, and travel agents. This data includes detailed information about room types, pricing, amenities, and more. What is Global Distribution Systems (GDS)?

Reservations 101

Reservations Book Pricing Information 101

Revenue Hub

DECEMBER 6, 2024

When asked why behind their preference for online booking, most travelers cite speed, easy price comparisons, and lower prices as the leading motivations. Distribution Technology Providers, in particular, play a crucial role in shaping the hotel booking journey for guests in this new, digitally transformed landscape.

Book 109

Book Travel and Tourism Pricing Information 109

Revenue Hub

AUGUST 2, 2024

From searching to booking, guests are influenced by an average of 38 websites before making a reservation. OTAs can drive booking volume, albeit at a high cost of acquisition (which can range from 15 – 30% commission), or hotels can maximise revenue by working with select niche partners to drive quality reservations.

Book 107

Book Reservations Pricing Article 107

Modern Restaurant Management

DECEMBER 28, 2023

Unveiling the Future of Customer Feedback To stay ahead in a fast paced, competitive landscape, restaurants must also embrace AI solutions that discreetly monitor customer feedback in real-time. Restaurants that embrace these advancements with a well-designed strategy will undoubtedly distinguish themselves in a competitive landscape.

Kitchen Operations 123

Kitchen Operations Training Maintenance Pricing 123

Revenue Hub

SEPTEMBER 6, 2023

An integrated booking engine within the website streamlines the reservation process, enabling seamless transactions and driving direct bookings. This tool enhances the booking experience, making it easy for visitors to finalize their reservations directly on your website. Having a mobile-friendly website is a must in today’s time.

Book 104

Book Guest Satisfaction Reservations Article 104

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

APRIL 28, 2024

Conversely, at 21 days, the average lead time on those bookings was 62% lower than the global average, reflecting the low price sensitivity among Chinese travellers and their greater propensity to take trips at shorter notice.

Marketing 110

Marketing Book Pricing Information 110

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