Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. Keep reading for ideas… Value-added packages Attract price-sensitive guests by offering added value.

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Revenue Hub

APRIL 11, 2023

Most importantly, AI takes the guesswork out of pricing. Why Are Hoteliers Still Playing a Game of The Price is Right? Today, companies like Amazon change prices every few minutes to offer the most competitive prices. This data aggregation scope is simply impossible for hotels relying on legacy pricing strategies.

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Modern Restaurant Management

AUGUST 2, 2024

As a result, they are making hard decisions to adjust prices and make menu changes. Many disgruntled customers take to the internet when presented with a cancellation fee or if they only receive a partial refund and leave negative reviews, affecting the restaurants’ brand in the process. LTO Impact A new Placer.ai

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Modern Restaurant Management

MAY 21, 2024

While three in four survey respondents believe restaurant prices are higher, other factors, such as flavor, outweigh price when ordering specialty beverages, particularly in the full-service segment. During a time of increased price sensitivity, beverages create an opportunity to increase the total check.

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Hospitality Magazine

AUGUST 7, 2024

Tickets are priced at $69 a pop , which grants guests access to some of the world’s best and rarest wines as well as the producers themselves. Part wine fair and part “full cultural freakout” Swillfest is taking over Le Foote in The Rocks on 21 September.

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Modern Restaurant Management

APRIL 26, 2021

Many in the industry are already considering growth and seeking to add locations due more available space at an affordable price. The unfortunate amount of closures could actually cause the survivors to thrive. What has the pandemic changed?

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MEWS

JUNE 7, 2024

By playing around with dynamic inventory – tailoring room presentation and pricing to different audiences and sales channels – hotels can truly revolutionize their operations.

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Hotel Owner

NOVEMBER 7, 2022

The Dunstane Houses, a luxury flagship five-star boutique hotel in Edinburgh, has been sold for an undisclosed price off a guide price of £7.5m. Live sales are generating strong interest, but price the of debt will challenge higher lot sizes. ”.

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The Restaurant Times

NOVEMBER 8, 2021

You need to carefully price your restaurant menu to make it to the top and earn as much as possible. While it’s understandable that you want to make a profit, being overly aggressive with your menu pricing can drive the customer away. It is about the right balance when applying your pricing strategies. .

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Modern Restaurant Management

AUGUST 6, 2024

66 percent of consumers believe a desirable experience is more important than price and convenience. Recovering from a disappointing experience presents an opportunity to showcase your brand's values. Many prioritize experience over price and convenience, indicating a fundamental shift in value perception.

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Hotelogix

SEPTEMBER 6, 2024

In a world where travelers are inundated with information, metasearch engines like Google Hotel Finder simplify the process by presenting the most relevant options at the top of the list. When a user searches for a hotel, Google displays a list of options based on the location, dates, and other criteria like price, rating, and hotel class.

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Hospitality Magazine

AUGUST 21, 2024

Hills Collide will continue to produce its own products, including wine, vermouth and gin, ensuring good quality at affordable prices. The menu presents toasties with wild rabbit, goat, and venison, Danish-inspired open sandwiches, and Section 28 cheeses, including the raw milk, semi-hard Monte Chavel washed in pinot lees.

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Modern Restaurant Management

MARCH 12, 2024

To reduce menu confusion and minimize price sensitivity, Ori’Zaba’s Scratch Mexican Grill recently rolled-out a rengineered and easier-to-read menu. The Ori’Zaba team told Modern Restaurant Management (MRM) magazine they watched people walk in and have a physical reaction to the three pricing tiers. Double Your Meat!”

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Modern Restaurant Management

MARCH 21, 2024

While we do expect 2024 to present challenges, we are optimistic about the overall economy and the role of U.S. However, a tight labor market and stubbornly high food prices will continue to weigh on restaurant margins in 2024. This means lower interest rates for businesses financing inventory and investing in expansion.

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Revenue Hub

FEBRUARY 9, 2024

It’s a unique opportunity to examine the hotel pricing trends and patterns emerging in the run-up to the Games. This early interest underscores the importance of the Games and the opportunities they present. Paris hotel room prices surge during the Olympics In our previous post , we noted little movement in the luxury segment.

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Revenue Hub

AUGUST 14, 2024

Historically, Booking.com operated a price parity clause with hotels, ensuring that the rates available on the OTA’s platform were the same as those available direct. After the deprecation of the Price Parity Clause, hotels can no longer be punished directly for not being in price parity with Booking.

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Hospitality Magazine

MAY 13, 2024

Thai milk tea panna cotta and a coconut chocolate mousse are both priced at $10 for those wanting to end lunch on a sweet note. “We have thoughtfully reimagined the flavours, techniques, and presentation of Longrain classics that guests know and love without compromising on quality and authenticity.”

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EATER

SEPTEMBER 11, 2024

Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? You may disagree with how we price this, but here’s why we’re doing this.”

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Modern Restaurant Management

FEBRUARY 26, 2024

Payment processing pricing structures often used by restaurants allow providers to layer their processing fees on top of other underlying debit and credit card fees. Payment processing can be complicated, but with the right partner and pricing structure such as flat rate, interchange plus, or tiered, unnecessary costs can be eliminated.

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InnQuest

APRIL 5, 2023

Yield management, also known as revenue management, is a strategy hotels use to optimize their revenue by adjusting prices and inventory according to consumer demand. Yield management is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue. And that’s where yield management comes in.

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Modern Restaurant Management

FEBRUARY 13, 2024

Where franchisors can miss an important opportunity is in the presentation of the financial information. Franchisors should carefully evaluate both the data being disclosed for the upcoming year and the format in which it is presented, asking questions like: How many years’ worth of data is relevant for the prospective franchisee?

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Revenue Hub

DECEMBER 1, 2023

NB: This is an article from APS (Above Property Services) Subscribe to our weekly newsletter and stay up to date In response to these challenges, the industry is turning towards innovative pricing strategies, with Attribute-Based Selling (ABS) (also known as Attribute-based Pricing) emerging as a notable trend.

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Hospitality Net

MAY 22, 2024

Determining the current selling or asking price for a hotel is a bit tricky. Compared to estimating the present value of a house it’s more like a detailed math exercise rather than a google search on Redfin. That’s what this piece is all about, how you can estimate the value, AKA sales price.

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Revenue Hub

SEPTEMBER 24, 2024

These platforms allow potential guests to compare prices, amenities, and reviews across multiple hotels in real time, simplifying the decision-making process. Enhancing visibility and direct bookings: For hotels and resorts, appearing on metasearch booking engines is more than just being present; it’s about maximizing visibility.

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Horizon Hospitality

FEBRUARY 19, 2024

Between the rise in unreliable third-party to-go orders and a recent wave of price increases, there has been an increase in nasty reviews online. Find out which staff members were present and get the rundown of the encounter from them. Even if you were present, you would still want to get multiple points of view of the situation.

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Modern Restaurant Management

JULY 16, 2024

AB: The labor market presents a key challenge for the restaurant industry going forward. Tipping culture has also dramatically changed over the past few years, which will undoubtedly have an impact on labor retention rates (and on the prices consumers are willing to pay for products and services).

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MBB Hospitality

NOVEMBER 23, 2019

Now that you’ve decided to open up your restaurant, you’ll have to determine pricing for all the delicious items you’ll sell to patrons. The right menu pricing strategy is essential for attracting customers and establishing a reliable client base. Pricing Based On Competition. Not Informing Staff About Marketing Efforts.

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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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Boutique Hotel News

NOVEMBER 16, 2022

Whilst the transaction value has not been disclosed, Dunstane Houses were marketed by Savills Scotland at a guide price of £7.5

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Lodging Magazine

JUNE 12, 2023

After hitting record lows during early points of the pandemic, last year finally presented long-awaited profitability returns for the U.S. Strong demand, coupled with strong pricing power in an inflationary environment, pushed revenues and profits beyond 2019 levels. hotel industry.

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Revenue Hub

AUGUST 14, 2024

By presenting personalized offers directly on your website, you can entice guests with exclusive deals they won’t find on OTAs, encouraging them to book directly. Price Comparison Widget One of the biggest reasons guests turn to OTAs is to compare prices.

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Hotelogix

SEPTEMBER 19, 2024

These platforms provide a self-service model that allows guests to compare prices, read reviews, and book rooms at their convenience. Booking Online: Typically presents lower upfront costs but may include hidden fees during the checkout process. However, it allows for quick comparisons across multiple options.

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Hotelogix

JULY 18, 2024

It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. Benefits of Hotel Forecasting Optimized pricing: Accurate hotel demand forecasting enables dynamic pricing strategies that maximize revenue and occupancy. What is Hotel Forecasting?

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Revenue Hub

JUNE 26, 2023

While peak seasons present new revenue opportunities, off-peak seasons are characterized by the challenges they pose for the revenue managers. Revenue Opportunities in Peak Seasons During peak seasons, hotels have the opportunity to maximize revenue through strategic pricing and yield management.

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Revenue Hub

JANUARY 31, 2023

This is intended to partially offset the additional costs caused by the increased prices and pass them directly to the guests. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable. The guest pays the same price for the room as he did a month ago.

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STAAH

APRIL 23, 2024

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. Data Visualization and Big Data Analytics The abundance of data available to hoteliers presents both opportunities and challenges.

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Boutique Hotel News

APRIL 21, 2023

“AI can help analyse data in real time and factor in a wide range of variables such as occupancy rates, weather, time of year, the impact of major events and more – and adjust prices accordingly to maximise occupancy rates,” explained Kim.

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