Revenue Hub

OCTOBER 8, 2024

Whether it’s through local collaborations, flexible pricing, or marketing off-peak amenities, the shoulder season holds untapped potential for increasing occupancy, generating ancillary income, and maintaining brand presence before the next peak. Peak seasons are when hotels can charge premium rates due to high demand.

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Pricing Strategic Planning Article Catering 108

Revenue Hub

JUNE 11, 2024

A Hotel Manager should be comfortable with using revenue management insights for strategic planning, including setting long-term goals, budgeting, and investment decisions. The Art of Hospitality At its heart, hospitality is about creating exceptional guest experiences.

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Strategic Planning Guest Satisfaction Article Pricing 108

Boutique Hotel News

MARCH 20, 2023

As COO, Bhogaraju will spearhead strategic planning, internal operations, M&A, partnerships, and help to scale the company’s acquired businesses. Bhogaraju said: “I am thrilled to join OTA Insight and work alongside such a talented, driven and dedicated team.

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Boutique Hotel News

MARCH 20, 2023

As COO, Bhogaraju will spearhead strategic planning, internal operations, M&A, partnerships, and help to scale the company’s acquired businesses. Bhogaraju said: “I am thrilled to join OTA Insight and work alongside such a talented, driven and dedicated team.

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Strategic Planning Customer Service Pricing Marketing 130

Revenue Hub

APRIL 17, 2023

Informed decision-making: Accurate forecasting provides insights into market trends, demand patterns, and financial performance, enabling you to make data-driven decisions about pricing, inventory management, and resource allocation that directly impact your ROI.

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Strategic Planning Guest Satisfaction Pricing Information 98

Hotelogix

DECEMBER 7, 2023

These platforms work like magic to spread the word about property, inventory, prices, offers, etc. Choosing the right OTAs to partner with requires research and strategic planning. OTAs are now a great marketing resource for hotel owners, allowing them to reach a wider audience and optimize revenue.

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Book Budgeting Catering Strategic Planning 268

Revenue Hub

AUGUST 29, 2023

Subscribe to our weekly newsletter and stay up to date The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yield management, revolves around a strategic pricing approach. Its core principle is the sale of the right product to the right customer, at the right time and for the right price.

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Guest Satisfaction Pricing Strategic Planning Article 98

Modern Restaurant Management

FEBRUARY 7, 2023

The modern restaurant ecosystem demands that businesses of all shapes and styles, from full-service fine dining to quick-serve fast-casual, incorporate third-party delivery systems into their business models, strategic planning, Front and Back of House training and physical design.

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Training POS Systems Back of House Strategic Planning 196

Revenue Hub

OCTOBER 8, 2024

Reasons for hotel forecasting Effective hotel forecasting provides multiple benefits, not only with strategic planning, but also at the operational level. Understanding these patterns allows hotels to optimize pricing and maximize revenue.

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Strategic Planning Revenue Projections Information Article 109

Hotelogix

JULY 18, 2024

Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. It serves as a guide for strategic planning and decision-making. What is Hotel Forecasting?

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Guest Satisfaction Budgeting Book Pricing 130

Revenue Hub

MAY 10, 2024

By comparing these metrics, you can identify strengths and weaknesses relative to your competition and adjust your marketing strategies, pricing, and service offerings to improve your market position. This concept is crucial for strategic planning and operational adjustments in the hospitality industry.

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Modern Restaurant Management

AUGUST 31, 2021

Operators also continue to grapple with higher input costs, with wholesale food prices increasing at their fastest rate in seven years. Menu prices have increased nearly four percent through June 2021. Technology, Outdoor Dining, and Alcohol To-Go Are Here to Stay.

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Download Strategic Planning Pricing Events 180

Revenue Hub

MARCH 25, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date While necessary and partly automated by a revenue management system, this operational focus consumes considerable time, leaving little room for strategic planning and innovation.

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Strategic Planning Guest Satisfaction Article Marketing 109

Modern Restaurant Management

SEPTEMBER 23, 2024

But many owners are understandably intimidated by the unpredictability of the legal industry’s ubiquitous billable hour pricing model. However, attorneys can provide value to clients in the strategic planning stages of a business, especially a restaurant.

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Budgeting Strategic Planning Document Pricing 156

Revenue Hub

OCTOBER 23, 2023

NB: This is an article from Amadeus Revenue managers are tasked with maximizing revenue and profitability, balancing occupancy and pricing, developing effective competitive demand strategies, understanding evolving guest needs, and more.

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Revenue Hub

AUGUST 15, 2024

Like every good debate, there’s another side to the story: algorithm and technology enthusiasts claim computers can make better pricing decisions (than humans) because of their ability to process and analyze data in real-time and make logical pricing decisions based on those complex and constantly evolving data sets, eliminating risk of human error.

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Pricing Article Marketing Strategic Planning 109

Revenue Hub

JULY 19, 2023

Subscribe to our weekly newsletter and stay up to date Leverage Dynamic Pricing Strategies Dynamic pricing involves adjusting room rates in real time based on factors such as demand, competition, local events, and historical data. Continue reading to discover them all!

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Pricing Article Book Strategic Planning 98

Revenue Hub

DECEMBER 13, 2023

Enhancing pricing flexibility and profitability as guests are willing to pay more for bespoke services. Key technological strategies include: Booking Engine Integration : Incorporating a booking engine with your pricing and availability management system allows for direct online bookings and dynamic pricing based on demand.

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Pricing Book Strategic Planning Information 109

Revenue Hub

NOVEMBER 29, 2023

If revenue management is about selling at the right price at the right time, then understanding the booking window is key to identifying that opportune moment. During this time, as demand surges and room availability decreases, prices naturally rise. Download your free copy now!

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Book Pricing Download Strategic Planning 106

Revenue Hub

SEPTEMBER 23, 2024

In the case of mega-chain hotels, while the corporate headquarters often provide strategic plans and policies, the GM’s responsibility is to implement these directives effectively and ensure that the entire team understands and aligns with them.

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Strategic Planning Guest Satisfaction Article Pricing 109

Revenue Hub

OCTOBER 11, 2023

Automation: Routine tasks can be automated, freeing up time for strategic planning. AI & Machine Learning: Advanced algorithms can predict trends and optimize pricing strategies. Technological Efforts in Hotel Revenue Management Strengths: Data Analysis: Technology can process and analyze vast amounts of data quickly.

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Training Strategic Planning Pricing Information 107

Revenue Hub

MARCH 19, 2024

From this position a BI solution can slice and dice your wide variety of data for actionable analysis and insights, for more informed decision making and strategic planning. In time Lighthouse BI will also be able to integrate further with other financial BI and digital marketing management tools to create further efficiencies.

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Strategic Planning Information Article Budgeting 109

Hotel Owner

JUNE 30, 2023

As it stands, the hospitality industry is facing a multitude of operational challenges that require careful navigation and strategic planning to overcome. Energy prices, inventory management, and employee productivity all play critical roles in the profitability of a hotel.

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Travel and Tourism Strategic Planning Procurement Concierge 105

Revenue Hub

DECEMBER 1, 2022

In a competitive operating environment, where every pricing decision counts, all hotels need to ensure that they are pricing themselves correctly in the market, minimising operational costs, and attracting the right guests at the right rates. NB: This is an article from IDeaS. Subscribe to our weekly newsletter and stay up to date.

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Pricing Marketing Information Article 98

Hotel Owner

APRIL 29, 2024

Whether it’s to pursue new opportunities, consolidate assets, or respond to market shifts, the sale process demands careful consideration and strategic planning. You must also stay vigilant and monitor market dynamics throughout the sale process to adapt your strategy and pricing accordingly.

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Document Pricing Information Strategic Planning 97

Revenue Hub

JANUARY 31, 2023

A SWOT analysis (or SWOT matrix) is a strategic planning tool that allows hoteliers to identify and understand internal and external factors that may impact their business and support decision-making. A SWOT analysis is one of the best tools to help you make better decisions. This category considers your strengths and weaknesses.

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Strategic Planning Article Marketing Pricing 97

Revenue Hub

JULY 10, 2023

Moreover, this short-term focus can divert attention and resources from strategic planning and future-oriented decision-making – which is crucial for long-term success. But without a strategic approach, these efforts can become disjointed and less effective, leading to missed opportunities and suboptimal results.

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Scheduling Strategic Planning Article Blog 95

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

Hotelogix

SEPTEMBER 12, 2024

They are also responsible for strategic planning to ensure the success of a hotel business. Revenue Management : Integrates with revenue management systems to forecast demand and adjust pricing strategies. This automation via a Hotel POS system saves time and helps avoid billing errors. to make key business decisions.

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STAAH

JULY 24, 2024

By providing transparent pricing, the WatchMyRate widget enhances the guest experience and supports your goal of encouraging direct reservations. Furthermore, the module’s comprehensive reporting and analytics capabilities enable properties to make informed decisions, optimize their operations, and enhance their strategic planning.

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Book Reservations Article Strategic Planning 111

Hotel Owner

JUNE 18, 2023

The importance of KPIs in the hotel industry cannot be overstated—they facilitate decision-making, inform strategic planning, and ultimately drive business growth. ADR helps hoteliers understand the potential and actual revenue per room, enabling informed pricing decisions.

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Book Strategic Planning Guest Satisfaction Information 105

Revenue Hub

JUNE 28, 2023

And while hospitality professionals have built up enough know-how to drastically cut back on the need to ask why for most subjects, tapping into that childlike curiosity when working with data and developing strategic plans is actually an important skill to refine. Using “why?”

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Hotel Business

APRIL 18, 2023

Cloud-based hospitality platform HotelKey has partnered with OTA Insight to give hotels access to rate data and actionable insights to make more effective pricing decisions. The collaboration also offers hotels parity, demand, search, review, and ranking APIs, with on-the-books (OTB) and benchmark APIs launching soon. “We

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Strategic Planning Pricing Book Back of House 52

Revenue Hub

JUNE 19, 2024

However, as inflation, impacting consumer pricing and labor costs becomes part of the new normal, profitability levels are at a high risk. Additionally, it’s common for a calendar on a hotel website to not show pricing, causing the customer to perform multiple individual searches to be able to compare dates and rates.

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Book Pricing Reservations Marketing 97

Xotels Hotel Revenue Management

APRIL 3, 2024

Many define itt as: “Selling the Right Room to the Right Client at the Right Moment at the Right Price.” Take full advantage of the available demand: of course, we know that flat pricing is not how hotels can maximize their revenue, but what lies at the other end of the spectrum?

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Pricing Book Marketing Information 76

Modern Restaurant Management

JUNE 28, 2024

The main takeaway: It’s led to higher prices and lower foot traffic at many of the state’s dining establishments. “As a result of the minimum wage increase, most chains have raised prices in the region anywhere from the mid-single digits to the midteens,” writes Hottovy. percent lower than the national average.

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STAAH

MAY 11, 2023

9) Affordable Prices Kerala offers a plethora of affordable accommodation options, making it an ideal destination for budget travellers seeking value for money without compromising on the beauty and hospitality of the state. Althaf leads revenue growth initiatives for accommodation providers across the country.

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