Modern Restaurant Management

AUGUST 2, 2024

Another 25 percent said they were investing in special events and one-off promotions, and 24 percent said they were prioritizing takeout and delivery operations. As a result, they are making hard decisions to adjust prices and make menu changes. Thirty-seven percent said they’re expanding catering operations.

Pricing 100

Pricing Training Marketing Book 100

Hospitality Magazine

AUGUST 21, 2024

The event will celebrate Gruner Veltliner from both Australian and Austrian producers. Hills Collide will continue to produce its own products, including wine, vermouth and gin, ensuring good quality at affordable prices. The kitchen will prioritise high-quality, locally sourced produce from the Adelaide Hills and surrounding regions.

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Special Events Events Presentation Pricing 245

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

Pricing 59

Pricing Definition Book Marketing 59

Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Hotel revenue management involves strategically adjusting your hotel's pricing and availability to maximize revenue.   What is Revenue Management in Hotels?

Pricing 130

Pricing Download Book Budgeting 130

Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Why do we do this? Our demand dried up.

Marketing 100

Marketing Pricing Special Events Book 100

7 Shifts

JULY 25, 2024

Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. Offering additional services, like delivery and takeout, meal kits and subscription boxes, and even catering and hosting special events can unlock new growth opportunities.

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Special Events Catering Events Workshop 97

InnQuest

APRIL 3, 2023

Maximizing Revenue in a Competitive Market Implementing a dynamic pricing strategy can improve revenue management and help hotels maximize profits. With real-time, automatic rate optimization, hotels can adjust rates dynamically in response to demand fluctuations, ensuring they are competitively priced.

Training 222

Training Property Management Special Events Guest Satisfaction 222

Revenue Hub

MARCH 27, 2024

NB: This is an article from Little Hotelier , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. Customise and optimise pricing strategies based on demand.

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Pricing Special Events Book Article 97

Modern Restaurant Management

NOVEMBER 1, 2022

Restaurant guests in cost-saving mode are eating out less and more conscious of menu prices, according to Restaurants: Consumer Trends Fall 2022/Winter 2023 a report produced by Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine. The study was in-field from Autumn 2022.

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Special Events Pricing Magazine Events 189

Revenue Hub

DECEMBER 4, 2023

NB: This is an article from DynamEat Today’s solutions excel at generating price choices and adjustments automatically by using advances in artificial intelligence and machine learning. The incorporation of new data sources, such as POS, is critical in enabling more intelligent pricing choices.

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Pricing Special Events Accounting Article 94

Hotel Owner

APRIL 14, 2023

The Novar Arms, which is located in the rural village of Evanton, Dingwall, has brought to market the freehold going concern for an asking price of £649,500. The Scottish Highland venue is a favourite spot amongst the local community, while also benefiting from year-round tourists travelling through the North Coast 500.

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Marketing Special Events Pricing Events 103

Hotel Owner

NOVEMBER 28, 2023

Robin Hill Country Park in Newport on Isle of Wight has been brought to market off a guide price of £2.25m. The park has traditionally been open from February to October, with additional open days for special events such as the Polar Experience and Christmas parties in the winter.

Marketing 97

Marketing Special Events Events Pricing 97

Revenue Hub

JULY 24, 2023

The worst part is if hotels at the destination start a price war to attract more guests, the results will be lower revenue for all, and no additional guests will travel to the destination because the hotel rooms are cheap. Leverage Local Events : If any local events are happening, hotels can offer special packages tied to these events.

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Maintenance Travel and Tourism Special Events Pricing 84

Revenue Hub

JUNE 10, 2024

Individual restaurant revenues can vary significantly based on various factors, including location, size, cuisine type, price point, concept, and how long a restaurant has been in the market. The overhead costs of your restaurant business and how thin your profit margins are can certainly affect your profitability.

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Special Events Catering Events Article 87

Revenue Hub

SEPTEMBER 5, 2023

Leveraging historical data, market trends, and special events, hotels can predict periods of high and low demand. This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods.

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Pricing Reservations Training Article 102

Hotel Owner

JULY 5, 2023

The Hunday Manor Hotel in the Lake District National Park has been sold to Osprey Hospitality Group from a guide price of £1.6m. As a growing business we’re excited to take on the next challenge of welcoming guests and hosting special events for our customers including weddings and other special occasions. “We

Special Events 105

Special Events Events Pricing Marketing 105

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.

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Pricing Book Reservations Events 98

Mary Gostelow

JUNE 9, 2024

An Emory Assistant, a butler by any other name, brings requested chamomile tea, William Edwards Fine Bone China, Arthur Price cutlery. Its prices include two-way airport transfer and filled minibar s– Laurent-Perrier or Grey Goose. Stationery, in a black standing rack, is as satin-smooth as one’s grandmother’s. The Emory’s got an edge.

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Special Events Pricing Events 52

Revenue Hub

AUGUST 20, 2024

Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. Corporate rates Should you negotiate corporate rates at static rates or a dynamic pricing approach? Dynamic pricing is a significant part of revenue management yet, you don’t have to choose one or the other.

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Pricing Book Article Events 95

Revenue Hub

JANUARY 9, 2024

A hotel demand forecast is a projection of demand (for rooms or other outlets like meeting space) that is used by revenue leaders to guide strategies for demand generation, pricing, inventory controls, segment mix and more. A demand forecast is an essential guiding force for hotel revenue success.

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Special Events Book Information Article 81

SiteMinder

AUGUST 1, 2024

Hoteliers use rate shopping to benchmark against other properties, optimise pricing decisions, and find opportunities to maximise revenue and profitability. Today’s market demands the adoption of dynamic pricing and hotels now regularly change rates daily or even multiple times in a given day.

Pricing 52

Pricing Book Blog Marketing 52

Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

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Pricing Book Article Events 68

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.

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Pricing Book Budgeting Marketing 98

OpenTable

FEBRUARY 21, 2024

Prix fixe, a French term for “fixed price,” is a menu offering a complete meal at a set rate. Some restaurants provide a middle ground, allowing limited customization within a set price. Restaurants participating in a city’s Restaurant Week can offer a fixed-price menu for breakfast, lunch, dinner, or all three.

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Special Events Pricing Events Reservations 52

Revenue Hub

JULY 10, 2023

By identifying where the business is coming from and what motivates guests to complete a purchase, you can better define effective pricing strategies and target your offer to meet their needs. Group The group segment refers to guests traveling in a group that has blocked several rooms in advance at a special rate.

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Marketing Special Events Book Article 87

Hotel Business

SEPTEMBER 15, 2023

For an effective pricing strategy, you should look to determine your offerings, including: Variety of rates Discounts Your loyalty program offerings Upsell opportunities Slow periods are an excellent time to understand price fences such as advanced purchase, deposit or cancellation policies, as these can be flexed over time.

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Special Events Pricing Accounting Events 64

Revenue Hub

OCTOBER 30, 2023

The fear: There will be no transparency If you’re a revenue manager (RM) and your automated RMS has next week’s prices set significantly higher than your closest competitors, odds are strong you’ll have some explaining to do with your GM or the owner. It’s not just one tool or one person doing the pricing. The end result?

Pricing 93

Pricing Special Events Article Book 93

Revenue Hub

OCTOBER 23, 2023

Big Data’s Role in Mitigating the Hotel Industry’s Top Three Risks The first and biggest risk is opportunity cost, or leaving money on the table by not accurately pricing inventory – and that can be in either direction. Another risk is conflating channel complexity with pricing complexity.

Pricing 86

Pricing Book Reservations Property Management 86

Hotelogix

OCTOBER 11, 2024

Seasonal Influences: Holidays and special events can impact travel plans. This, in turn, affects pricing strategies and future bookings. Competing Offers: Guests may find better deals elsewhere or decide to stay with friends or family, leading to last-minute cancellations or no-shows. How No-Shows Impact Hotels?

Reservations 130

Reservations Guest Satisfaction Communication Book 130

Revenue Hub

FEBRUARY 20, 2023

How do you increase your profits even as prices remain high and the future remains unknown and uncertain? 7% wanted to celebrate a special event. 7% wanted to book a trip after receiving a discounted or special offer. 16% of travelers wanted to travel to a destination for an extended period. 16% wanted to go on vacation.

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Special Events Article Book Pricing 87

eZee Absolute

AUGUST 31, 2022

Be strategic about the pricing. Host a special event. Have you seen those discounted prices on banners where a higher price is always struck out? Be strategic about the pricing. Pricing is a supremely sensitive aspect of an accommodation business. Host a special event. Keep reading.).

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Special Events Pricing Events Book 52

eZee Absolute

MAY 7, 2024

It starts with setting prices but grows into a clever mix of data, technology, and understanding what your guests want. Revenue management is about more than just the right pricing. It’s about knowing your guests and setting the right price to fill your hotel. Claire transformed traditional pricing into a dynamic art form.

Pricing 52

Pricing Book Marketing Events 52

7 Shifts

NOVEMBER 15, 2024

How do you prepare your team for special events or holiday rushes? As a restaurant manager, how do you prepare your team for special events or holiday rushes? For example, they could increase staff for a special event so that there are enough employees to handle larger crowds without sacrificing service quality.

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Communication Server Special Events Training 78

7 Shifts

AUGUST 18, 2024

Make sure to get quotes from multiple suppliers so you can compare prices and services. Pricing should match your target market and theme. A cocktail bar can have higher prices while a local neighborhood pub probably can't. This will give you a good idea of their product and service. Keep it simple.

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Customer Service Marketing Special Events Scheduling 148

MBB Hospitality

NOVEMBER 15, 2023

It involves tracking the cost of each ingredient, understanding seasonality, and recognizing price fluctuations. This granular approach helps in making informed decisions about menu design, portion sizes, and pricing, ensuring that each dish contributes positively to your bottom line.

Pricing 52

Pricing Training Portion Control POS Systems 52

7 Shifts

MAY 23, 2024

We’ve studied what makes the 20% of restaurateurs successful and categorized them into essential categories, including optimizing your menu, providing unforgettable experiences, hosting events, and improving takeout. During this time, your customers scan the menu, go through the descriptions, and review the prices before deciding.

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Pricing Scheduling Events Marketing 78

Synergy Suite

MAY 24, 2024

Internal factors include historical sales data, past and present expenses related to ensuring that customers can order everything they hope to from the menu, trends in the popularity and pricing of menu items , profit margins, and more. How does price impact its popularity?

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POS Systems Information Pricing Special Events 52