Revenue Hub

DECEMBER 12, 2024

It also means monitoring their offerings and pricing. Pricing: Properties that offer similar room types at similar prices. Then it decides how to position its pricing relative to them, a process known as competitive price benchmarking. Some hotels tie their pricing to just one or two competitors.

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eHotelier

OCTOBER 9, 2024

As consumers become more informed and online booking environments offer new levels of transparency, hotels will discover that positive guest experiences are not just beneficial—they are essential for maintaining pricing power.

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Revenue Hub

JANUARY 15, 2025

They will also flag periods of unexpectedly high demand when you can increase pricing and earn more revenue. Well explain how to use forecast insights to optimize pricing and inventory, improve operational planning, and not just meet budget targets but exceed them. Fine-tune pricing: Adjust pricing based on demand to maximize revenue.

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Revenue Hub

DECEMBER 3, 2024

Price optimization and sensitivity analysis are essential tools for refining your pricing strategy to maximize revenue. This method is highly effective in predicting how changes in features or pricing might influence consumer choices and market share.

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Pricing Book Guest Services Marketing 107

Revenue Hub

NOVEMBER 25, 2024

A mobile only price is exactly what you’d think it is: a price – usually a discount – that’s only available to users accessing a mobile booking app on their device. Country rates Country rates or geo-fencing as it’s sometimes known are targeted discounts or pricing adjustments offered to customers based on their geographic location.

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Pricing Book Download Article 109

Hospitality Magazine

MARCH 19, 2025

As the cost of coffee beans surge and cafes push prices towards $7 a cup, the industry is being forced to examine how to keep customers coming back and how much they can charge before customers walk away. Why should it be a third of the price of an average pint of beer? asks La Marzocco Australia Sales Manager Brydon Price.

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Revenue Hub

OCTOBER 31, 2024

Read the full article at Tripleseat The post Hotel Pricing for Buyouts: How to Maximize Revenue with Groups appeared first on Revenue Hub. Hotels can add value by offering all-inclusive packages that appeal to both organizers and attendees.

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Pricing Workshop Events Scheduling 109

Revenue Hub

MARCH 17, 2025

Lets start with the older, more basic pricing method: static pricing. Static pricing: Static pricing is a method of determining a pricing structure up-front, and leaving that strategy in place for an extended period of time. Remember that there are pros and cons to implementing any strategy.

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Pricing Book Article Definition 78

Revenue Hub

FEBRUARY 21, 2025

With multiple competing hotels likely right across your street corner, establishing an effective hotel pricing strategy is paramount to ensure your hotels long-term success. A well-crafted pricing approach not only reflects the value proposition of the property but also adapts to market dynamics, consumer behavior, and operational costs.

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Pricing Guest Satisfaction Article Book 91

Hospitality Magazine

OCTOBER 15, 2024

The post Hospitality staff priced out of rentals appeared first on hospitality | Magazine. Now it’s clear that it’s also failing our key workers – including those who work full time.” Although the results are dire, Chambers says it an opportunity for change. More information is available from the Anglicare website.

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Revenue Hub

FEBRUARY 6, 2025

Spring is a key revenue period, andnow is the ideal time to analyze early booking data and optimize your pricing strategy. It also allows you to establish starting prices for each room type for the spring season. Continuously adjust your pricing strategy Setting initial prices is just the first step.

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Pricing Book Reservations Article 75

Hospitality Magazine

NOVEMBER 27, 2024

After a few years of running its iconic ‘Australiano Hour’, Surry Hills restaurant Jane has achieved the holy trinity of happy hour success: returning customers, effective pricing, and a busy venue. The team knew the price point had to be sharp enough to compete with the local competition. A tip to keep it economically sound? “We

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Pricing Reservations Magazine 245

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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Modern Restaurant Management

DECEMBER 27, 2024

In 2024, restaurant traffic slowed while price sensitivity grew. Moreover, three out of four respondents believe restaurant prices are higher and high prices are the primary reason for cutting back on restaurant spending. Sustained loyalty is the goal in this highly competitive, price-driven market. Continued trepidation.

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Hospitality Magazine

FEBRUARY 3, 2025

“Through this partnership, were making it easier for families and small businesses to get what they need at Costcos low prices, delivered directly to their doorstep. . “We are thrilled to partner with Costco to expand DoorDashs affordable options for Australian families,” says DoorDash Vice President APAC Simon Rossi.

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Pricing Magazine 246

Hospitality Magazine

MARCH 17, 2025

The wine needs to be good – but so does the price point. People are looking for a local venue, with friendly staff and a laid-back vibe where they can have good quality service, drinks but without the need of excessive price points. What do you think makes a good wine bar? How have you implemented these aspects in your venue?

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Modern Restaurant Management

JANUARY 20, 2025

These chefs might know how to source the finest ingredients, but no one’s taught them how to negotiate the price of those ingredients or keep suppliers from quietly eating away at their profits. Sales reps may come back with a price comparison guide that shows lower prices on specific items. Be wary of common tactics.

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Hospitality Magazine

NOVEMBER 4, 2024

I love wine, and Italian wine in particular, it was very important to me that we offered great drops at affordable prices,” says Co-Owner Peter Aloi. The wine list features Italian and Australian varieties, alongside classic cocktails including Aperol Spritz, Negroni, and Espresso Martini. “At

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Training Pricing Magazine 245

Revenue Hub

JANUARY 8, 2025

Are your rooms priced too high, too low, or just right? At a time when hotel operating costs have soared to record levels, the need for optimal pricing is more important than ever. Discounting in the hotel business involves lowering room prices to increase demand. What Is Hotel Room Discounting?

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Pricing Book Article Budgeting 109

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. Promote a Best Rate Guarantee: Ensure guests know they'll get the best price when booking directly. For example, "Book now for 20% off on your stay!"

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Modern Restaurant Management

OCTOBER 14, 2024

For restaurants, especially those operating on thin margins, these fees can influence pricing strategies, profitability, and even operational decisions. This includes higher prices and reduced cash flow. As a percentage of each sale, interchange fees may seem minor individually but can accumulate to significant amounts over time.

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Hospitality Magazine

NOVEMBER 6, 2024

Cicchio is priced at $28 a bottle and is available from Zonzo Estate, Dan Murphy’s, and independent retailers. “One night, when I was busy making limoncello, I had the idea to try it and see what it would turn out like,” says Micallef. Brookie’s is planting one rainforest tree for every bottle sold of its new Byron Rainforest gin.

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Pricing Magazine 246

Hospitality Magazine

MARCH 19, 2025

Its the foundational element in classic cocktails including the Moscow Mule and the Ginger Rogers, but it comes at a price, often fetching close to $30 per kilogram depending on the time of year. Making the syrup is costly due to the price of fresh ginger but is ultimately non-negotiable.

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Hospitality Net

MARCH 25, 2025

This is where a Price Comparison Widget (PCW) becomes an invaluable tool. With guests browsing dozens of hotel options before making a decision, hotels need to ensure theyre capturing direct bookings and minimizing their reliance on Online Travel Agencies (OTAs).

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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

eHotelier

JANUARY 30, 2025

The World Travel & Tourism Council (WTTC) today issued a stark warning to the UK Government: the UKs successful Travel & Tourism industry faces stagnation and long-term decline.

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Revenue Hub

JANUARY 8, 2025

One example is hotels that rely on static pricing. Whereas hotels implementing revenue management principles use dynamic pricing, optimize occupancy, have a strong brand reputation, and much more. Modern technology makes it easier to answer these essential revenue management questions: Does price condition demand?

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Pricing Marketing Book Article 109

Hospitality Magazine

JANUARY 27, 2025

The venue will also be pouring $8 schooners of Grifter Pale Ale, Hawkes Brewing Lager and Philter Brewing XPA, alongside a selection of wines and vodka for the same price. Its the Inner Wests answer to a live music paradise and late-night antics.

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Pricing Magazine 217

Revenue Hub

NOVEMBER 21, 2024

But when it comes to setting pricing strategies, many revenue teams still fall into a trap I call “Comparisonitis.” Think about it: What if your competitor’s pricing strategy isn’t working? Worse, it distracts from what really matters: how your guests behave and respond to your pricing. But is it really the best strategy?

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Revenue Hub

OCTOBER 28, 2024

But it’s not as simple as having the lowest price or the most reviews. Photos, descriptions, and competitive pricing all influence this, but don’t ignore the little things that can nudge someone from ‘just looking’ to ‘I’m booking’. Price & Availability OTAs love consistency. Price Consistency On Booking, parity matters.

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Book Pricing Article 109

STAAH

DECEMBER 19, 2024

What is Dynamic Pricing and Why It Matters? Dynamic pricing is a crucial revenue management strategy, and this blog broke it down for hoteliers. Covering its benefits and implementation tips, it struck a chord with those looking to optimize their pricing strategies. Click here to read more. Click here to read more.

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Blog Pricing Book Information 109

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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Pricing Demo Competitive Analysis Book 100

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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Pricing Scheduling Book Article 109

Revenue Hub

JANUARY 15, 2025

Step 2: Stay on Top of Competitor Pricing Corporate rate shopping isnt just about randomly checking what your competitors are charging. So, what should you do instead of just dropping prices? Use this data wisely to adjust your own pricing strategy and stay ahead of the game. Start by focusing on value, not just cost.

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Pricing Article Book Marketing 109

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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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. Clever Pricing Pricing success starts with strategically pricing to who we compete with by understanding their features and benefits versus our own.

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Pricing Events Marketing Budgeting 105

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. Its about selling the right room to the right guest at the right time for the right price. Segment your market and tailor your pricing to each segment.

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