Hotelogix

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. Booking Mistakes: Sometimes, guests might accidentally double-book or forget about their reservation. This, in turn, affects pricing strategies and future bookings.

Reservations 130

Reservations Guest Satisfaction Communication Book 130

InnQuest

OCTOBER 17, 2023

Here’s a brief explanation of the reasons why hotel overbookings happen: Uncertain Cancellations: Hotels anticipate a certain percentage of reservations to be canceled. Revenue Maximization: In a bid to maximize revenue, hotels often accept more reservations than their actual room inventory.

Reservations 221

Reservations Guest Satisfaction Book Pricing 221

Modern Restaurant Management

FEBRUARY 14, 2024

Charging guests for booking a reservation that they don’t show up for is becoming more popular. Let’s start with the reservation charge. For now, I have recommended to my clients to only utilize the reservation charge during holidays (Mother’s Day, Christmas, New Years, Easter, etc.).

Reservations 189

Reservations Pricing Server Book 189

Revenue Hub

OCTOBER 10, 2024

You want to be sure you’re offering minimum pricing that’s beneficial for your company’s bottom line, and that makes sense for your customers. Catering budget : A required minimum amount to be spent on catering to reserve the event space. Event minimums are nothing new, but determining the amounts can be challenging.

Pricing 101

Pricing Events Catering Maintenance 101

Revenue Hub

JULY 31, 2024

The ongoing manual calculations and pricing updates across all your distribution channels are huge headaches to most hoteliers, especially if pricing isn’t your only responsibility at your property. How can you use data to improve your pricing strategy? Do they have shared price sensitivities?

Pricing 97

Pricing Book Marketing Article 97

Hospitality Magazine

NOVEMBER 27, 2024

Once reserved for after work pub drinks, happy hour has found its way to every corner of the industry, from cheap and cheerful taco Tuesdays to high-end restaurants serving up pared-back weekday versions of their staples. The team knew the price point had to be sharp enough to compete with the local competition.

Pricing 230

Pricing Reservations Magazine 230

Modern Restaurant Management

APRIL 27, 2020

OpenTable added new features and price cuts for 2020 as they recognize the road to recovery will be long and difficult. OpenTable’s software has always enabled restaurants to connect with diners to manage reservations, prepare for shifts, and maximize table availability. First is an enhanced restaurant management platform.

Document 231

Document Download Sanitation Pricing 231

InnQuest

SEPTEMBER 5, 2023

It involves tracking and controlling inventory in real-time, making informed decisions on pricing, room allocation and availability, and ensuring that the right resources are available at the right time. Effective management ensures that rooms are allocated efficiently and priced competitively.

Guest Satisfaction 218

Guest Satisfaction Maintenance Pricing Book 218

STAAH

JULY 31, 2024

Discover how STAAH SwiftBook’s Smart Pricing can ignite your booking strategy. Why should you use the Smart Pricing feature on your SwiftBook: Key Benefits of STAAH Smart Pricing Enhanced Booking Strategy : Design discounts to specific guest behaviours, making your property more appealing and driving more direct bookings.

Pricing 87

Pricing Book Reservations Marketing 87

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.

Pricing 94

Pricing Article Events Marketing 94

Modern Restaurant Management

MARCH 21, 2024

As we head into 2024, all eyes are on the Federal Reserve as interest rates hold the key to employment and the consumer spending fueling the small business economy. In all, we expect 2024 to be a better year for business than 2023 as the Federal Reserve executes the soft landing it has been seeking since this tightening cycle began.

Reservations 180

Reservations Pricing Presentation Marketing 180

Revenue Hub

MAY 17, 2024

In the case of buyouts, it is the cost of taking the buyout rather than the usual transient business that would have filled the hotel to full occupancy and would have included in their reservations on shoulder nights (weeknights before or after the weekend nights).

Pricing 106

Pricing Marketing Article Reservations 106

Revenue Hub

OCTOBER 15, 2024

Google Hotel remains as a key source of bookings for hotels reinforcing the importance of showing your direct rates there ideally with the best price compared to OTAs. Read more articles from mirai The post DMA Impact: Google Share Sinking as a Source of Reservations appeared first on Revenue Hub. of the total generated bookings.

Reservations 99

Reservations Book Article Marketing 99

InnQuest

JANUARY 23, 2023

Direct bookings are reservations made directly with the hotel rather than through a third-party online travel agency (OTA). With custom booking engines, you can create an effective reservation flow that can increase conversions. Metasearch platforms lead users to your website, where they can directly make reservations for their travel.

Book 218

Book Reservations Concierge Blog 218

Modern Restaurant Management

FEBRUARY 3, 2022

Inventory and Menu Management : Though 47 percent of operators say that all or most of their suppliers increased prices during the pandemic, two-thirds of restaurants maintained or increased their menu offerings. Reservations : Most operators are taking a hybrid approach to reservations.

POS Systems 194

POS Systems Reservations Pricing Download 194

InnQuest

MARCH 2, 2023

For example, you can use a property management system (PMS) to manage your reservations, guest information, and room assignments. Our software solutions come with competitive pricing while retaining their quality and functionality. At InnQuest, we aim to deliver top-notch hospitality management software.

Customer Service 224

Customer Service Training Guest Satisfaction Pricing 224

InnQuest

APRIL 3, 2023

For instance, online booking systems, channel managers, and revenue management software can help you manage reservations, room rates, and availability across different channels. Maximizing Revenue in a Competitive Market Implementing a dynamic pricing strategy can improve revenue management and help hotels maximize profits.

Training 222

Training Property Management Special Events Guest Satisfaction 222

Modern Restaurant Management

JANUARY 22, 2024

It’s critical to provide a seamless eating experience, which includes simple payment choices and online reservations. Use technology, reservation platforms, and customer reviews to ensure that everyone is in constant communication and that problems are resolved quickly. People want service that is quick, easy, and hassle-free.

Reservations 181

Reservations Customer Service Marketing Pricing 181

Modern Restaurant Management

APRIL 20, 2020

Lacking cash reserves and the resources to access money (traditional bank loans), most restaurants were forced to lay off their employees. Some likely expenses to be considered for initial cash reserves: 20 percent of the prior year’s monthly sales for purchases of goods. 75 percent of the prior year’s monthly payroll cost.

Reservations 210

Reservations Pricing 210

Modern Restaurant Management

FEBRUARY 12, 2021

Your restaurant website needs to help your guests find you online, inform them about your menu and, possibly, help them reserve a table or order a delivery directly from you. Implement an online reservation system. Implement an Online Reservation System. But have you thought about your website design? Represent the whole menu.

Reservations 208

Reservations Information Sanitation Pricing 208

Hotelogix

NOVEMBER 28, 2024

It automatically updates room availability, rates, and reservations across all these platforms. Follow these practices to make the most of your system: Keep Rates Competitive - Adjust prices frequently based on demand, market trends, and competitor rates. Many systems offer automated pricing tools.

Book 130

Book Property Management Reservations Pricing 130

InnQuest

OCTOBER 5, 2022

These platforms offer multiple benefits for the price paid, including marketing and exposure to global markets. The most profitable of the three is direct hotel bookings i.e. wherein guests directly reach out to the hotels for all accommodation-related queries and make a reservation. . Expert Tips To Increase Direct Hotel Bookings.

Book 217

Book Pricing Reservations Information 217

MEWS

APRIL 9, 2024

It facilitates managing reservations, check-ins and check-outs, guest information tracking, price control, availability management, and provides analytics to monitor and improve performance. A property management system is software designed to help organize, execute and track daily operations in a hospitality business.

Property Management 130

Property Management Reservations Pricing Information 130

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 55

Pricing Book Article Budgeting 55

Modern Restaurant Management

DECEMBER 6, 2021

Increasing your prices may prove beneficial : You might even consider adding a special ingredient to some of your low-priced items. Perhaps you can increase the price of the original item, like a premium side, or see if you can bundle them with more expensive items.

Server 197

Server Pricing Reservations Accounting 197

Modern Restaurant Management

DECEMBER 3, 2024

This holiday season, 67 percent of diners are seeking more than standard reservations, with themed holiday meals (44 percent) and multi-course feasts (39 percent) being the most popular options, according to a survey from Tock. Nearly half (49 percent) of respondents will be seeking a reservation during the 4 to 6 p.m.

Reservations 88

Reservations Special Events Book Guest Retention 88

Hotelogix

FEBRUARY 4, 2024

  Reservation management: This feature allows you to manage all your reservations from a single dashboard. You can also cancel or modify reservations based on guests' requirements here.  You can update prices, add new items, and manage inventory.

Housekeeping 147

Housekeeping Maintenance Reservations Accounting 147

Hotelogix

OCTOBER 30, 2024

Price, amenities, reviews, and the overall booking experience play a significant role here.  Booking Stage : This is the stage when travelers go ahead with making a reservation. Here competitive pricing, ease of booking and an excellent user experience plays a critical part.

Book 222

Book Blog Reservations Information 222

Hospitality Magazine

JULY 3, 2024

For lunch and reservations before 6pm, the fixed offering is priced at $55 for two courses, $70 for three, or $90 for five. Guests can opt to take the a la carte route or go for a set menu. The wine list has been dialled up with new selections from Hildebrandt, who recently spent a month in France visiting producers.

Reservations 185

Reservations Pricing Magazine 185

InnQuest

MARCH 3, 2023

This can include anything from housekeeping services to restaurant reservations. Additionally, the software can send automated emails or text messages to guests, such as confirmation of their room reservation or updates on their stay. We offer competitive pricing without sacrificing quality or functionality in our software solutions.

Communication 218

Communication Reservations Housekeeping Information 218

Revenue Hub

JUNE 28, 2024

NB: This is an article from Revinate Subscribe to our weekly newsletter and stay up to date These legislations, effective from July 1, 2024, focus on cancellation policies and pricing transparency, respectively. Potential impact on hoteliers: Transparent pricing: Hotels must ensure their advertised rates include all mandatory fees.

Pricing 100

Pricing Book Reservations Article 100

Modern Restaurant Management

AUGUST 2, 2024

As a result, they are making hard decisions to adjust prices and make menu changes. Restaurants were the worst affected, with 27 percent of patrons not following through with their reservations. For noncommercial operators (51 percent) and those in full-service restaurants (55 percent), menu enhancement is also a must as a motivator.

Pricing 100

Pricing Training Marketing Book 100

InnQuest

OCTOBER 3, 2023

Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. This ensures that guests are always presented with accurate information, reducing the likelihood of overbooking or reservation errors.

Guest Satisfaction 221

Guest Satisfaction Information Property Management Blog 221

Modern Restaurant Management

DECEMBER 13, 2021

These challenges are impacting menu availability, raising the prices of menu items, leading to short staffs, increasing wait times for diners, and changing operating hours and offerings. Digital waitlists and reservations help consumers minimize wait times at restaurants to get seated sooner upon arrival.

Communication 189

Communication Reservations Budgeting Pricing 189

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.

Housekeeping 147

Housekeeping Budgeting Demo Guest Satisfaction 147

Revenue Hub

NOVEMBER 4, 2024

This growing preference for booking flexibility allows more guests to modify or cancel their reservations, which, in turn, raises the risk of cancellations and no-shows, posing challenges for hotels in managing occupancy and revenue. Prepayment strategies for hotels also reduce cancellation risks while attracting committed customers.

Book 97

Book Reservations Occupancy Management Pricing 97