Modern Restaurant Management

OCTOBER 24, 2022

Restaurants and customers are feeling the effects of inflation, according to the third quarter 2022 data for the Yelp Economic Average (YEA) report, The report reveals that inflation experiences have intensified for consumers in every state in the U.S. percent from 2022,” added Mudan.

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Revenue Hub

NOVEMBER 17, 2022

The end of 2022 is proving to be an interesting quarter for both travelers and hoteliers, thanks to several key trends like increased travel demand, record-high inflation, and limited flight availability. Projected Increase in Flight Prices. But there’s more to these high prices than increased demand alone.

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Modern Restaurant Management

JANUARY 30, 2024

Net sales are primarily driven by average check increases and pricing opportunities are diminishing. With little margin for taking price, brands will need to adopt a broad perspective, focusing on creative traffic-driving strategies, and get down into the specifics by analyzing local competitor and consumer data. Inflation slowed to 3.4

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Modern Restaurant Management

MARCH 23, 2023

Our graphs of early 2022 quick-service restaurant traffic trends looked like a mountain range — a significant dip in performance followed by a steep climb, thanks to the appearance and ultimate retreat of the omicron variant. Yet QSRs are slowing down price increases to meet tightening budgets.

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Boutique Hotel News

JANUARY 16, 2023

According to the new Cvent Travel Manager Report: Europe Edition December 2022 , corporate travel managers seek value, sustainability, and cost-cutting opportunities in 2023. Rising costs spur budget increases . Eighty-one per cent in total say their budget will rise, including 26 per cent who predict it will increase significantly.

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Hotel Owner

OCTOBER 17, 2023

Formerly a Jury’s Inn, the Leonardo Hotel was rebranded and refurbished in 2022 and is one of 52 Leonardo Hotels across the UK and Ireland – owned by the Fattal Hotel Group. The investment is priced attractively and at the quoted price it is also substantially underpinned by its vacant possession value.” compared to 73.2%

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Hotel Business

NOVEMBER 1, 2023

Intent to travel between Thanksgiving and mid-January is up across all age and income groups with an average holiday budget of $2,725. More than half (56%) of holiday travelers plan to stay in hotels, up from 35% in 2022. Twenty-two percent of Millennials also plan to significantly increase their holiday travel budget this season.

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Revenue Hub

MAY 2, 2024

NB: This is an article from TCRM Subscribe to our weekly newsletter and stay up to date This follows on the heels of 1,842 hotel openings in 2022 and approximately 2,480 hotel openings in 2023. A handful of multi-brand conglomerates are now dominating the market across segments from luxury to budget.

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Article Pricing Marketing Budgeting 84

Revenue Hub

FEBRUARY 6, 2023

With inflation staying low over the last ten years (1.88% on average), the current rise (8% annual average in 2022) has begun to make ripples across industries, and hospitality is no exception. dip in prices from November. According to a study by NerdWallet, hotel prices are still very much on the rise.

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Hotel Owner

FEBRUARY 15, 2023

in January 2022. The largest downward contribution to the change between December 2022 and January 2023 came from transport (particularly passenger transport and motor fuels), and restaurants and hotels, with rising prices in alcoholic beverages and tobacco partially offsetting upward contribution to the change.

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Pricing Budgeting Marketing 98

SiteMinder

OCTOBER 9, 2022

Few roles in the hotel industry have evolved as quickly as the revenue manager.Powered by technological advances, the rapid sharing of knowledge and online training, the discipline is synonymous with smart pricing decisions and expectations are always high in the highly competitive accommodation market. Table of contents.

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Modern Restaurant Management

JUNE 7, 2022

With gas prices over $4 a gallon, a drop in drive-thru traffic is not surprising, and our historical data shows a positive correlation. However, when asked in Q1 2022, just 81 percent had made a weekly stop. Gen Z respondents reported a decrease in full-service visits, too, from 33 percent in Q4 2021 to 15 percent in Q1 2022.

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Boutique Hotel News

JANUARY 16, 2023

This more positive outlook is also seen in business travel, which now promises a long-awaited rebound with more than half of global company travel budgets back to pre-pandemic levels. .

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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.

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NCC USA

MAY 17, 2022

Understand Where We Stand in the Hospitality Labor Shortage of 2022. What it Means for the Industry in 2022. Unfortunately, the National Restaurant Association’s State of the Industry Mid-Year Update predicts that the labor shortage in 2022 will continue throughout the year. Better Team Management and Payroll Management.

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Modern Restaurant Management

FEBRUARY 1, 2023

” In a 2022 Toxic Work Environment Report , “CareerPlug found that 52 percent of employees in the restaurant and food services industry do not feel like their manager genuinely cares about them/their performance at work. So, when your budget is declining, your job bids become scarce and can become lost in the sea of the internet.

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SiteMinder

SEPTEMBER 25, 2023

While the total number of travellers planning to explore internationally has remained stable year-on-year (2022: 62%, 2023: 64%), the number planning to travel internationally only has more than doubled. 1) 87% of travellers globally are happy to spend additional money, beyond their room vs 85% in 2022.

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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. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times.

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Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. But, according to the same report, about 40 percent of consumers agree that with rising grocery store prices, it’s not necessarily cheaper to eat at home.

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Revenue Hub

NOVEMBER 10, 2023

NB: This is an article from PwC Subscribe to our weekly newsletter and stay up to date As a result, occupancy levels have declined in each of the past seven months, relative to comparable 2022 levels, and are expected to continue to be down during the remainder of this year and through at least the first quarter of 2024.

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Pricing Budgeting Article Marketing 88

Revenue Hub

APRIL 8, 2024

Wielding unmatched reach and budgets, mega OTAs influence every stage of trip planning and booking. By reducing differentiation to sortable criteria, the meta-search boom commoditizes hotel discovery and accelerates price transparency. The Expedia Group owns 400+ booking sites spanning 75 countries.

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Book Accounting Article Pricing 101

Hotel Owner

NOVEMBER 14, 2022

Budget hotel chain EasyHotel has reported a period of strong trading as it revealed over £62m in total systems sales for the year ending 30 September 2022. Business on the books for November is already above budget and October was 78% stronger than October 2021.”.

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Hotel Business

APRIL 12, 2023

based and European executives with travel budget oversight, fielded between Feb. 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. companies is expected to rise from 21% in 2022 to 33% in 2023. Only 10% of U.S.

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Accounting Events Budgeting Pricing 111

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.

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Revenue Hub

JULY 13, 2023

Through this analysis, they may discover that their competitor offers higher-priced menu items. This presents an opportunity for Hotel 1 to increase its prices, thereby boosting its revenue while still remaining competitive.

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Revenue Hub

FEBRUARY 9, 2023

The percent of American travelers who report that inflation led them to cancel a trip dropped to 27% after peaking at 36% in June 2022. Currently, 42% of American travelers say high travel prices have kept them from traveling in the past month, down from 49% in December. At 30%, this is the highest it has been since last summer.

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Article Budgeting Reservations Presentation 83

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

Hotel Business

JANUARY 23, 2023

The report, “A world in motion: shifting consumer travel trends in 2022 and beyond,” shows that sustainability is a key element of the travel agenda, with travelers eager to reduce their carbon footprint and support sustainable tourism. tourists leading the list as big spenders.

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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. based and European executives with travel budget oversight, fielded between Feb. companies is expected to rise from 21% in 2022 to 33% in 2023. Only 10% of U.S.

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Accounting Events Budgeting Pricing 78

SiteMinder

DECEMBER 3, 2023

They will be happy to combine luxury and budget travel options Many respondents said the cost of a holiday can be a barrier – more than 70% of US millennials agreed, followed by 58% of Gen Xers, 49% of baby boomers, and 45% of mature travellers. Travellers can now quickly compare pricing and availability directly within TripAdvisor.

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Book Pricing Reservations Budgeting 105

Boutique Hotel News

OCTOBER 28, 2022

While not without controversy, Qatar’s hosting of the 2022 FIFA World Cup is a significant milestone on its journey to becoming a premier league tourism destination. Berthold Trenkel, COO of Qatar Tourism, says: “2022 has been an extraordinary year in Qatar with so many major new hotel and tourism openings.

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Modern Restaurant Management

MAY 2, 2022

Soaring prices, continued supply chain disruptions, and ongoing staffing shortages are creating a perfect storm for restaurants. Food and labor costs are elevated and expected to remain high in 2022 , negatively impacting restaurants’ profit margins. With prices skyrocketing, restaurants should focus on eliminating food waste.

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Modern Restaurant Management

DECEMBER 21, 2021

While supply chain issues will likely decrease over the course of 2022, wage inflation represents a new status quo on the bottom line. There is money to be saved by more closely managing campaign budgets and the cost of offers by zeroing in on efforts around segmentation and personalization.

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Revenue Hub

JANUARY 27, 2023

At the end of 2022, data and insights from STR showed the hospitality industry at substantial levels of performance recovery around the globe with no signs of demand significantly slowing. It appears that travelers are taking rising prices in stride. Rising inflation? No problem, travelers expect to spend more on travel.

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Hotel Owner

DECEMBER 20, 2022

Aimbridge EMEA has reported an average of 15% uplift in RevPAR across its UK portfolio against 2019, with certain locations doubling that performance at points during 2022. It said the increase follows a strong year for the third-party management company which has seen multiple property signings and openings.

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Budgeting Pricing Marketing 105

NV Hotels

APRIL 19, 2022

As a vendor, Boca Terry has lived through the ups and downs of the cotton market…holding our prices over the years, as costs usually level off. 2020-2022 has shown us unprecedented increases. See what alternative products are available that will work within your budget, at least for the time being.

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Pricing Budgeting Marketing 52

Modern Restaurant Management

FEBRUARY 5, 2024

Yelp’s engaged community of locals who share their opinions and reviews is what enables its community to connect with great local and affordable businesses – more than 85% of the businesses on the list are priced under 30 dollars per person. The Bureau of Labor Statistics reported that fast-food prices jumped 6.2

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