Modern Restaurant Management

DECEMBER 18, 2023

A Look Back at 2023 To gauge the state of the restaurant industry, including the industry’s most pertinent worries around food and labor costs, Restaurant365 conducted a survey of over 730 customers representing 14,000+ locations in December 2022 and again in September 2023.

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Hotel Owner

FEBRUARY 23, 2023

UKHospitality has revealed that 32% of hospitality firms are at risk of failure within the next year, despite hospitality sales in 2022 surpassing pre-Covid levels. in 2022 compared with 2019, but down 13% in real terms when inflation is accounted for.

Pricing 105

Pricing Budgeting Accounting Marketing 105

Revenue Hub

APRIL 8, 2024

Online travel agencies now account for over 35% of hotel bookings globally. Recent finds hotels paying up to 40% commission when accounting for volume discounts. By reducing differentiation to sortable criteria, the meta-search boom commoditizes hotel discovery and accelerates price transparency.

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Book Accounting Article Pricing 102

The Restaurant Times

JANUARY 13, 2022

F oodies and F&B experts share their predictions for the food industry trends that will likely emerge in 2022 in the weeks and months to come. 5 F&B Industry Trends One Must Not Miss In 2022. The post Top F&B Industry Trends To Watch Out For In 2022 appeared first on The Restaurant Times. Plant-Based Meals.

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Hotel Business

MAY 1, 2023

. “These excellent performances were driven in particular by the strong rebound in Asia, good price levels and increased occupancy rates. Given this highly positive start of the year, we have revised our 2023 guidance upwards, with double-digit RevPAR growth versus 2022.” million) by Luxury & Lifestyle, up 52% LFL.

Travel and Tourism 59

Travel and Tourism Accounting Pricing Property Management 59

Modern Restaurant Management

MAY 19, 2022

The prices of goods and services have increased 8.5 percent from March 2021 to March 2022, accounting for the highest inflation rate since December 1981. Rebounding demand, supply chain issues, and labor shortages are mostly to blame for driving prices to an all-time high. Take Advantage of QR Codes.

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Pricing Accounting Training Information 187

Revenue Hub

JULY 10, 2023

When accounting for inflation, North American properties have comfortably exceeded their 2019 pricing levels, thanks to robust consumer spending on services. Non-adjusted prices are now nearly one-third higher than they were three years ago. A similar upward trajectory can be seen in Oceania.

Travel and Tourism 85

Travel and Tourism Pricing Article Accounting 85

Hotel Business

APRIL 12, 2023

Live events are set to comprise a significant share of corporate travel, advancing from the fifth biggest driver of increased spend in 2022 to the top spot in 2023. International trips will account for a larger portion of the recovery this year: The international share of travel costs for U.S. in 2023, up from fifth in 2022.

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Modern Restaurant Management

JUNE 30, 2023

Updating packaging to account for new ways of getting food from restaurant to car to house to table can increase propensity to re-order significantly. Not only was it successful during COVID but new habits account for a maintained lift in the new format. Own Your Changes In March 2023, restaurants’ food prices were 8.8

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EATER

APRIL 2, 2024

Menu prices are almost always more expensive than ordering directly from restaurants. For restaurants, there’s a price as well. billion , an increase of 173 percent from 2022. per hour after deducting basic expenses such as gas, which was far below the city’s 2022 minimum hourly wage of $17.27.

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Revenue Hub

SEPTEMBER 6, 2023

Equilibrium returned in 2022. Per the 11th edition of the Uniform System of Accounts for the Lodging Industry , Loyalty Program Fees includes any costs associated with programs designed to build guest loyalty to the property or brand. In 2022, the fees to cover the costs of Guest Loyalty Programs increased by 53.8%

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Reservations Accounting Article Pricing 84

Xotels Hotel Revenue Management

JANUARY 20, 2020

We have compiled a list of the best Hotel Revenue Management articles published last year to give you a head start into 2022! Competition is tough, prices have dropped and you are battling competitors for each and every room. It still applies in 2022! We wish you a great and successful 2022! Let´s dig in!

Article 52

Article Pricing Accounting Marketing 52

Revenue Hub

DECEMBER 7, 2022

If you value what we do, please consider becoming a ‘ Friend of Revenue Hub ‘ Turn competitor intelligence into winning pricing strategies. To access metrics for 90, and 365 days out simply upgrade your account. With Ratemetrics, you will have the very latest competitive pricing at your fingertips.

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Pricing Accounting Marketing 97

Hotel Owner

APRIL 15, 2024

Hotel insolvencies have increased by 19% in the last year, from 127 hotel companies in 2022/23 to 151 in 2023/24, as operation costs have continued to rise, UHY Hacker Young has revealed. Meanwhile, room occupancy among hotels with less than 25 rooms has continued to fall from 69% in February 2023 to 64% in February 2024.

Travel and Tourism 52

Travel and Tourism Accounting Pricing 52

Hotel Owner

DECEMBER 5, 2022

The UK hotel market has continued its recovery in 2022, as a strong trading performance exceeded expectations for the year, Knight Frank has said. . Despite international visitor arrivals remaining lower than pre-pandemic, the ability to drive rates within a high inflationary environment saw ADR surge 22% ahead of 2019 prices.

Marketing 105

Marketing Accounting Pricing 105

Lithos POS

JULY 26, 2022

Best for Restaurants and retailers Price Visit pricing Free trial 14 days free trial eCommerce POS integration Yes Payment processing Yes Customer loyalty program Yes Accounting integration Yes Marketing integration Yes Inventory management Yes Aggragators integration Yes Multi-location management Yes Report and analytics Yes.

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Budgeting Accounting Blog Pricing 52

SiteMinder

APRIL 16, 2024

International travellers, who typically book their travel further in advance than domestic guests, grew from 74% of all hotel arrivals in 2022, to 88% in 2023. We also know that travellers have become more open to spending money on extras to elevate their stay, but that increased prices are forcing them to adapt by opting for package deals.

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Revenue Hub

APRIL 14, 2023

Although pandemic concerns and testing regulations generally waned in the second half of 2022, financial concerns seem to continue to create uncertainty for the sector. Live events are set to comprise a significant share of corporate travel, advancing from the fifth biggest driver of increased spend in 2022 to the top spot in 2023.

Accounting 79

Accounting Events Budgeting Pricing 79

Serviced Apartments

SEPTEMBER 21, 2023

Bookers and buyers are retaining a keen focus on pricing and value for money. To account for this heightened price sensitivity, providers have responded by adjusting rates throughout the last quarter and we expect this will remain a necessity towards the end of this year and into 2024,” he added.

Pricing 52

Pricing Book Accounting Marketing 52

Xotels

JULY 5, 2022

In 2022, there are many challenges faced by the hotel industry, which may quickly feel overwhelming to address. However, as a hotel management company , we have seen that with the right approach, tech stack, and process streamlining, hotels can drive their success in 2022 and beyond. Article summary: Experience & Personalization.

Travel and Tourism 52

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Hotel Owner

MAY 18, 2023

After a muted end to 2022, transactional activity during the first three months of the year more than doubled to £0.6bn, but deal volumes remained “significantly below” the five-year quarter average of £1.2bn, according to the latest figures from Knight Frank.

Accounting 105

Accounting Pricing Marketing 105

Modern Restaurant Management

FEBRUARY 21, 2022

Bn at an impressive 22 percent CAGR in 2022. Plant Based Protein accounted for US$ 11.3 percent CAGR between 2022 and 2032, and Plant-Based Milk sales will grow ~ 2x by 2032, says Future Market Insights. What to Expect in 2022. Nowadays, vegan food is becoming normal in restaurants and fast food joints. percent in 2021.

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Serviced Apartments

AUGUST 9, 2023

Whilst the price was not disclosed, Dongnae said it will purchase Stevens with a mix of cash and equity. Dears’ properties are located throughout Seoul and Pangyo across 90 apartment complexes, with Pangyo accounting for more than 520 studio flats. The company is based in Seoul.

Accounting 52

Accounting Pricing 52

Modern Restaurant Management

JANUARY 9, 2023

Food and labor costs are the two most significant line items for a restaurant, each accounting for approximately 33 cents of every dollar in sales, according to the National Restaurant Association survey. Actions taken include: 87 percent of restaurants increased menu prices. 50 percent of operators expect to make less profit in 2023.

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Hotel Business

FEBRUARY 24, 2023

For full-year 2022, Accor reported group RevPAR for full-year 2022 was 2% higher than in 2019. In the Americas, RevPAR in full-year 2022 was 5% higher than in 2019. Tourism recovered substantially in 2022 and our performances, up strongly in all regions, reflected that rebound,” said Sébastien Bazin, chairman/CEO, Accor.

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Hotel Owner

AUGUST 4, 2023

While they may offer more flexibility for guests in terms of location, space, and activities, many holiday lets do little to support local communities, while they gradually take over towns and villages, and pricing locals out. This has priced many locals out of their communities in the process.

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Travel and Tourism Pricing Accounting 97

Modern Restaurant Management

OCTOBER 1, 2022

But is it so simple to stand out from the crowd in 2022? Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Or you can partner with influencers, invite them to the restaurant, and ask them for a review on their accounts. Does this type of marketing work in 2022?

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Revenue Hub

JULY 19, 2023

NB: This is an article from Altexsoft If you look at Amadeus’ in-depth Demand360® business intelligence data, you’ll see that the average global hotel occupancy rate was nearly 70 percent in the summer of 2022. So, when using the occupancy rate, you should be careful with it and take into account other measurements to get a fuller picture.

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Modern Restaurant Management

SEPTEMBER 17, 2022

Southern Glazer's Wine & Spirits unveiled the results of its 2022 Liquid Insights Tour , a coast-to-coast educational initiative designed to explore and identify the latest trends in cocktails and wine. The tour kicked off in Houston in February, and included stops in Kansas City, New York, Las Vegas, Chicago and Los Angeles.

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Revenue Hub

DECEMBER 1, 2022

Experience reports on the 2022 trends in terms of customer reviews and opinions in the French hotel industry. Compared to the year 2021, the summer 2022 season has recorded an increase of more than 20% in reviews left by consumers. In addition, 2022 is a record-breaking year for occupancy rates and average prices in France.

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Reservations Book Article Accounting 78

Revenue Hub

JULY 7, 2023

1 Travel and tourism accounted for around 14 percent of Spain’s total GDP and provided one in eight jobs. And as travel resumes in an era of high inflation, Spain will likely face stiff competition from several destinations that also offer sunshine and coastal vacations at similar, or lower, prices—Egypt, Greece, and Turkey, for example.

Travel and Tourism 93

Travel and Tourism Article Accounting Pricing 93

Revenue Hub

APRIL 24, 2023

Loyalty members redeemed a record number of points in 2022 that were earned and saved during the pandemic. NB: This is an article from CBRE Direct access to a base of loyal customers is a benefit to owning and operating a branded hotel. Loyalty members can help drive occupancy during off-peak periods or weaker economic conditions.

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Article Book Accounting Pricing 78

Hotel Business

MARCH 16, 2023

The report highlights the following insights: ADR and occupancy Among independent properties, hotel rates increased slightly from 2019 to 2020 and continued to grow in 2021 and 2022. In 2022, ADR exceeded the 2019 ADR by 17%. In 2022, pent-up demand for travel shifted the balance back in favor of OTAs and reached 2019 levels again.

Book 52

Book Maintenance Pricing Budgeting 52

Revenue Hub

JULY 28, 2023

Travel demand is looking strong since June up until September 2023, with recent analysis showing pickup of 23% in June 2023 vs June 2022. million tourists arriving in May alone, while some hotel groups said reservations were slow in the first weeks of summer due to the steep rise in room prices. Do you have leisure facilities?

Book 66

Book Travel and Tourism Article Blog 66

Modern Restaurant Management

AUGUST 31, 2022

As of April 2022, restaurants were still down 794,000 jobs – or 6.4 Many restaurants have increased the price of certain menu items and continue to do so, unfortunately losing customers in the process. percent pre-pandemic employment levels. to nearly seven percent in just one year. As a result, 80% of U.S.

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Program Management Accounting Pricing Marketing 208

The Restaurant Times

JUNE 6, 2023

million in 2022. According to the 2022 State of the Restaurant Industry by the National Restaurant Association, a staggering 96% of operators encountered disruptions or shortages in the supply of essential food and beverage items in 2021. The market is projected to experience a 16.3% CAGR from 2023 to 2030.

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Vendor Management POS Systems Information Pricing 52

Modern Restaurant Management

DECEMBER 21, 2022

Reduce portion sizes slightly to maintain menu prices but account for increased costs. Don’t be afraid to increase price. Don’t be afraid to increase price. ” – Bob Patterson, founder and president of Patterson & Company Certified Public Accountants. and the U.K.,

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