eZee Absolute

SEPTEMBER 11, 2023

Jump to 2023. Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. Let’s start with the basic question— Table of Content What is Dynamic Pricing? How Can Hotels Use Dynamic Pricing? Hotels use dynamic pricing too.

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Modern Restaurant Management

DECEMBER 18, 2023

It’s the perfect time to look back on a few things we learned in 2023 – based on recent survey data from our restaurant partners – as well as what we predict for the industry in 2024. The survey also showed 75 percent of respondents expected their labor costs to increase in 2023.

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Revenue Hub

JULY 10, 2023

NB: This is an article from OTA Insight In the first half of 2023, the global hotel industry has experienced steady growth in Average Daily Rates (ADR), indicating a positive trend, with Europe and Asia now at the forefront. Non-adjusted prices are now nearly one-third higher than they were three years ago.

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STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Get account-level projections. Opt for dynamic pricing. Read more .

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Hospitality Magazine

OCTOBER 25, 2023

Kolkata-born Ahana Dutt grew up going to the markets on Sundays with her mother, spending mornings selecting produce and haggling down the price of live fish. I think the pros and cons are the same in the sense that you’re responsible and accountable for everything — it ends with you.” Sundays were special for us,” she says. “It

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Revenue Hub

JANUARY 9, 2024

According to Trootech, the present AI market stand October 2023 is worth over 300 billion EUR, and AI has become the number one priority for 83% of businesses around the globe. Revenue managers would use spreadsheets and basic forecasting tools to make pricing decisions, often overlooking the complexity of the market dynamics.

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SiteMinder

APRIL 16, 2024

New data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, reveals a 70% rise in the average booking lead time for hotels in Vietnam, following a sharp rise in international arrivals in 2023. The growth supported Vietnam to reach its target of welcoming 12.5

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Modern Restaurant Management

FEBRUARY 27, 2023

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Reviewing these numbers frequently can help to hold vendors accountable to the prices they are quoting.

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Modern Restaurant Management

JANUARY 9, 2023

expect to be less profitable in 2023. Rising food, labor and energy/utility costs pose significant challenges heading into 2023. business leaders anticipate a recession in 2023, according to JPMorgan Chase’s 2023 annual Business Leaders Outlook survey. 50 percent of operators expect to make less profit in 2023.

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Hotel Owner

JULY 12, 2023

There has been a “noticeable shift” in buyer profiles for UK hotel investment in the first half of the year, with specialist hotel-focused investors, HNWIs and family-offices accounting for 70% of transactions, according to new research from Knight Frank. Much of this investment originated from Europe, Middle East and Asia.

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Revenue Hub

APRIL 26, 2024

GA4 Migration Checklist Survey Your Universal Analytics Create Your GA4 Account Migrate Your Events Create Custom Metrics Link Account Integrations Archive Historical Data Do hoteliers need to store historical data? If you haven’t already transitioned away from UA, find out everything you need to know about GA4 here. Definitely.

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Larry Mogelonsky

JULY 24, 2023

Even in the back half of 2023, every hotel is still contending with inflation in some way or another, likely passing these costs onto the customer. Price Influences Guest Expectations Take this basic scenario for instance. The price is reasonable based on the rates in the guest’s near-past set of hotel experiences.

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Hotel Business

OCTOBER 27, 2023

In third-quarter 2023, Accor opened 73 hotels, for around 9,200 rooms, and has thus achieved net unit growth of 3% over the last 12 months. At the end of September 2023, the group had a hotel portfolio of 812,425 rooms (5,537 hotels) and a pipeline of around 219,000 rooms (1,273 hotels). million) in Q3 2023, up 11% LFL year-on-year.

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Hotel Owner

JANUARY 8, 2024

Around £2bn of UK hotel transactions were recorded in 2023, according to new data from Knight Frank, though investment levels hit their lowest level since 2012. Activity from continental European investors recorded an annual uplift of 40% in 2023 to over £350m, whilst capital sourced from the Middle Eastern and Asia also increased.

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Hotel Business

APRIL 1, 2024

In late 2023, we substantially grew our portfolio of vacation rentals and are excited to further expand, operationalize and brand this collection to highlight our expertise in this area.”

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Hotel Owner

FEBRUARY 1, 2024

The total transaction value for hotels in London amounted to just over £1bn in 2023, down 36% compared with last year, the lowest in the past decade, according to data from CoStar. Trades in London accounted for nearly half of total UK volumes as a lack of major portfolio deals kept activity somewhat subdued. Archer Capital B.V.

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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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Modern Restaurant Management

JANUARY 31, 2024

Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. But what we’ve found is that operators have been leaning on menu price hikes to cover their expenses for more than two years now, and they’ve finally reached the limits of what consumers are willing to pay.

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Hotel Business

MAY 1, 2023

In first-quarter 2023, Accor once again stepped-up business growth across all regions and in its two divisions: premium, midscale and economy; and luxury & lifestyle,” said Sébastien Bazin, chairman/CEO, Accor. In first-quarter 2023, Accor opened 36 hotels (around 4,400 rooms), and has achieved net network growth of 2.9%

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Hotel Business

APRIL 12, 2023

and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. 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. in 2023, up from fifth in 2022.

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Revenue Hub

FEBRUARY 9, 2024

Starting with some three hundred brands at five price points, the hotel chains have repeatedly created brands that subdivided those price points. In 2023 Marriott reported adding a company record 91,000 rooms. As part of its 2023 growth, the company acquired the City Express brand, which added 150 properties and 17,500 rooms.

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Hotel Owner

FEBRUARY 16, 2024

Scotland has seen hotel transaction volumes, of sales over £1m, reach £310m in 2023, up 98% on 2022’s figure of £156m, according to Savills. Overall Scotland accounted for circa 14% of all UK hotel deals last year as “the market remained resilient despite ongoing economic headwinds”.

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EATER

FEBRUARY 27, 2024

Elijah Nouvelage/Getty Images Earlier this week, the FTC filed a lawsuit alleging that the deal would eliminate competition and raise grocery prices It’s likely that the place you shop for groceries every week is owned by one of two companies — Kroger, or Albertsons. Kroger and Albertsons own more than 5,000 supermarkets across the country.

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Revenue Hub

FEBRUARY 20, 2024

As you know, appropriate pricing is key to any profitable hotel. Failure to account for probable events on a specific date You may nod your head as you read through these. Appropriate pricing is a delicate balance requiring experience, technology, and data analysis. This often happens because they find a better price elsewhere.

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Revenue Hub

MAY 9, 2023

million group room nights booked for H1 2023. According to the Global Business Travel Association (GBTA), group travel demand will likely increase in 2023, and the average spend per attendee for group events will increase in 2023. Amadeus reports that group and business travel segments are steadily recovering, with 4.3

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Hotel Business

JANUARY 4, 2024

The company utilized cash on its balance sheet for the debt paydowns, which was generated from more than $330 million of property sales throughout 2023, all in accordance with its stated strategic capital allocation objectives. Following these debt activities, the company has approximately $2.2 BofA Securities Inc.

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Revenue Hub

APRIL 14, 2023

and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. 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. in 2023, up from fifth in 2022.

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Modern Restaurant Management

NOVEMBER 30, 2023

Recent findings reveal that researching a new POS for implementation after 2023 is a priority for 43 percent of restaurants , with 29 percent hoping to upgrade their POS for better omnichannel integrations. This shift underscores the evolution of POS systems from mere transactional tools to comprehensive data hubs.

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Hotel Business

SEPTEMBER 27, 2023

In the presentation, the company reiterated its 2023 outlook given in August and introduced two-year compounded annual growth rates (CAGRs) from 2023-2025 for certain key performance metrics. Adjusted diluted earnings per share (adjusted diluted EPS) could rise 25% to 29% YOY in 2023 and at a 10% to 15% two-year CAGR to reach $10.10

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Modern Restaurant Management

JANUARY 8, 2024

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. Vanilla isn’t for everyone In 2023, marketing took a cue from the ice cream parlor, embracing segmentation with the same precision as a sundae artisan.

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SiteMinder

MAY 8, 2024

Furthermore, domestic travellers in April reached their highest levels since October of 2023. Domestic guests accounted for 23% of total check-ins, up from just 13% in January and February of this year.

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Revenue Hub

OCTOBER 20, 2023

Subscribe to our weekly newsletter and stay up to date GOP Margin by Country 2019 – 2023 1. 2023 Hotel Performance: Growth Is Slowing In UAE, Saudi Arabia, India, Brazil, and the Caribbean, hotel profit margins in the first half of 2023 well surpassed 2019 levels, whereas they lagged in the UK, Germany, Spain, Poland, and Qatar.

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Hotel Owner

OCTOBER 19, 2023

Last year was a year of recovery for the hotel sector following the pandemic and 2023 has been no different. Whatever the price point of a hotel there is always going to be some demand from someone connected to the event. Balekjian reveals that RevPAR for hotels in Aberdeen is intrinsically linked to oil prices.

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Revenue Hub

JULY 17, 2023

According to Expedia Group’s 2023 Traveller Value Index Report, there is countless evidence that all types of travel will continue growing with velocity this year. Head of Travel and Tourism Research at Euromonitor International , Caroline Bremner, says: “ChatGPT is taking travel and the world by storm.

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7 Shifts

JANUARY 20, 2023

Super Bowl 2023 Promotion Ideas for Bars and Restaurants 1. Building a culture around the idea that it's ok to exchange shifts lets you increase accountability within your staff. Additionally, restaurants should make sure they have enough food and drink to meet the demand on this busy day. But how do you stand out?

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Revenue Hub

NOVEMBER 21, 2022

But considering that M&E accounts for about 20 to 30% of revenue for the average hospitality organization, hoteliers should pay just as much attention to M&E as they do guest rooms. Understanding the tremendous revenue-boosting opportunity of meetings and events in 2023. Subscribe to our weekly newsletter and stay up to date.

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Revenue Hub

JULY 28, 2023

Generally speaking, summer 2023 is going well for hotels so far. Travel demand is looking strong since June up until September 2023, with recent analysis showing pickup of 23% in June 2023 vs June 2022. If you have any feedback from guests who stayed with you during the summer, take this into account.

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