Boutique Hotel News

JANUARY 16, 2023

Industry leaders share their thoughts on the travel, hospitality and economic landscape in 2023. According to the CEBR, these preferences, such as the increasing demand for longer trips and remote working spaces, are particularly prevalent among younger generations, indicating a promising outlook for our sector well past 2023.”

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Hospitality Net

APRIL 10, 2024

In 2023, the hotel transaction volume in Greater Paris reached €1.7 The significant increase was primarily driven by The Westin Paris transaction, making up 40% of the total volume, with a price per key exceeding €1.5 Billion, marking a 27% rise from 2022.

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Modern Restaurant Management

APRIL 18, 2024

The global restaurant fryers market is projected to grow at a CAGR of 5.6 percent over the forecast period of 2023 to 2033. The market sales are on course to increase from US$ 495.6 Million in 2023 to US$ 854.6 Million by 2033, according to Future Market Insights.

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Hotel Owner

APRIL 27, 2023

Hotel operators have continued to outperform the wider hospitality sector as they were able to charge the same room rates as peak season prices in 2018, despite March’s wet weather, according to the RSM Hotel Tracker. Meanwhile, in the London market room rates increased from £196.21 in February to £135.51 in February to 68.7%

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Revenue Hub

APRIL 13, 2023

Today we are joined by: Pontus Berner from berner+becker , one of our Expert Partners In today’s discussion we take another look at the German hotel market and follow up on our conversation in September when Pontus considered what might happen in Winter 2022 and he also looks ahead to Summer period coming up.

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Boutique Hotel News

DECEMBER 20, 2022

BHN editor Eloise Hanson outlines six hotel and travel trends expected to shape the industry in 2023. This means that during periods of high consumer price growth, hotels have been able to raise room rates and pass on these rising costs to guests. Technology adoption in 2023 will set innovative hoteliers apart from the competition.”.

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Hotel Owner

JULY 3, 2023

The way that the majority of hotel businesses currently make price level decisions is by looking at historical data, taking what happened last year and comparing that with the upcoming dates year-on-year. This volatility is a consequence of changing patterns in demand across different markets and different customer segments.

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Revenue Hub

JANUARY 17, 2024

NB: This is an article from BEONx , one of our Expert Partners During the last few years, a unique and powerful phenomenon has occurred in this industry market: we have been witnesses of a swing similar to that of a pendulum, not only recovering from the challenging situation of the COVID-19 pandemic, but surpassing unexpected limits.

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InnQuest

JANUARY 5, 2023

In this blog, we share 3 powerful tips to help you stay competitive and elevate guest experience in 2023 – Adopt Contactless Technology – One of the latest hotel technology trends in the post-pandemic era includes the rise of contactless technology. Book a demonstration of our award-wi nning hotel management software here.

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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. Unfortunately, the traditional marketing tech stack that restaurants have long relied on is outdated, overpriced and ineffective in today’s digital ecosystem.

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Hotel Business

FEBRUARY 22, 2024

Accord Group, for full-year 2023, reported that earnings before interest, taxes, depreciation and amortization (EBITDA) surpassed the 1 billion euro ($1.082 billion) mark for the first time in the company’s history, reaching 1.003 billion ($1.085 billion), up 49% year-over-year. in the last 12 months.

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eZee Absolute

JANUARY 16, 2024

From navigating changing travel trends to embracing technological advancements, 2023 was a year of resilience, innovation, and reimagination. To help you navigate the ever-growing blogosphere, we’ve compiled a list of the top 10 hospitality blogs from 2023 that every hotelier must follow. This is where our next blog comes in.

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Boutique Hotel News

JANUARY 4, 2023

India: The proposed initial public offering [IPO] for Indian hospitality chain OYO is set to be delayed once again after the national capital markets regulator asked its parent company to refile its draft IPO papers with certain updates. The post OYO IPO set for further delay in 2023 appeared first on Boutique Hotel News.

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Lodging Magazine

MAY 14, 2024

DALLAS, Texas—The commercial real estate lending market slowed in Q1 2024 due to high interest rates and limited credit availability, but a tightening of credit spreads indicated signs of stabilizing, according to the latest research from CBRE. The index saw a decline of 32.7

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Hotel Owner

MARCH 27, 2024

The freehold of Morley House, a hotel development site with GDV for in excess of £250m, has hit the market for an undisclosed amount. Operationally, London hotels have continued to outperform and we’ve seen this translate into positive investor engagement and pricing levels.”

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Revenue Hub

FEBRUARY 8, 2023

NB: This is an article from Cloudbeds , one of our Expert Partners While demand is back, the pandemic and its lasting effects fundamentally changed traveler behavior, and in 2023, experience-based travel will be prominent as travelers look to make up for lost time. Value-driven travel takes priority.

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Revenue Hub

FEBRUARY 9, 2023

While demand for air travel is expected to continue rising in 2023 as Asia Pacific opens, it will be essential to ensure airlines are paying attention to travelers’ needs and expectations to develop their airline marketing strategy. As economic pressures rise in 2023, price will continue to impact how travelers make their decisions.

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Hospitality Net

APRIL 4, 2024

High inflation and consequential rises in interest rates had major impacts on investment markets throughout 2023, including slowed hotel transaction activity in Europe. There were 6% fewer transactions than in 2022, indicating that the average price per room was also down in 2023. Reaching €10.7

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Modern Restaurant Management

APRIL 10, 2024

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

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Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. Don’t be afraid to increase price.

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Modern Restaurant Management

DECEMBER 19, 2023

The recovery in the restaurant industry means that restaurant owners looking to sell their business in 2020, but couldn’t due to the pandemic economy plummeting restaurant values can finally sell in 2023. However, high-interest rates are pushing some prospective buyers out of the market who can’t pay with cash.

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InnQuest

JULY 10, 2023

Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users.

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Modern Restaurant Management

MARCH 23, 2023

But in 2023, month-over-month trend lines have evened out. percent YOY) was the top-performing QSR channel in February 2023. Yet QSRs are slowing down price increases to meet tightening budgets. The average price flattened, up 14.0 A week ago, we lauded a flat line (on a graph, that is). percent YOY. Dine-in (+29.8

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STAAH

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand. Listening to the guests was key to informing room pricing that yielded the best returns for the business, i.e. moving into the era of dynamic pricing.

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Hotel Owner

JANUARY 11, 2024

Signs of “rebalancing” across the UK hotel sector were seen in 2023, with trading performance maintaining an “upwards, albeit decelerating” trajectory, according to a new report from Christie and Co.

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Boutique Hotel News

JANUARY 16, 2023

[SPONSORED CONTENT] Cvent highlights some key findings from its latest Travel Manager Report and how venues can best capture demand in 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. Supplier takeaway.

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Hotel Owner

DECEMBER 12, 2023

The UK hotel market has recorded another year of strong trading performance, according to the latest UK Hotel Trading Performance Review 2023 by global property adviser Knight Frank in partnership with HotStats. Full year 2023 occupancy will continue to lag 2019 levels by just 2.6 London’s GOPPAR performance is now 1.7%

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EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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SiteMinder

APRIL 28, 2024

Conversely, at 21 days, the average lead time on those bookings was 62% lower than the global average, reflecting the low price sensitivity among Chinese travellers and their greater propensity to take trips at shorter notice.

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Revenue Hub

MARCH 3, 2023

Hotel prices in key American leisure destinations soar, while hoteliers in markets more reliant on business travel and long-distance international tourism are facing tougher times. Average lowest actualised hotel room price for US cities – 2019 versus 2022 We are not alone in this analysis.

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Boutique Hotel News

JANUARY 19, 2023

UK: UK consumers are continuing to book staycations in 2023 despite the cost of living squeeze on household incomes and the opening up of international travel, according to a recent survey of 1,000 consumers. Families were also keen to book in plans for a UK break in 2023.

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Hotel Owner

JANUARY 20, 2023

The hotel market saw signs of recovery during the first half of 2022, followed by a 2.8% increase in the hotel price index for the second half of the year, according to Christie and Co’s hotel business outlook report.

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Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

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Modern Restaurant Management

DECEMBER 21, 2023

In 2023, we saw sellers increasing throughput utilizing the “experience creates consumption” strategy and we predict an increase in draft program profitability in 2024 as more on-premise professionals embrace the needs of the highly coveted craft beverage loyalists.

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InnQuest

DECEMBER 21, 2022

Before we delve into why KPIs are important, let’s understand what it stands for: Key performance indicators are a set of specific, measurable values that companies use to track and assess how close they’ve reached towards achieving key objectives — from sales and marketing to product development and customer service perspectives.

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InnQuest

MARCH 23, 2023

million Chinese tourists entered Australia each year before the pandemic (Statista). In this article, we’ll take a look at some key statistics about the market in general, and the situation regarding our recovery from the pandemic. in 2023 (IBISWorld). From 2018-2023, the industry within Australia declined by 4.9%

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Modern Restaurant Management

MAY 30, 2023

Digital Dining: What Restaurants Need to Know Now In February 2023, our Revenue Management Solutions (RMS) data analytics team advised on the benefits of attracting and keeping frequent diners. According to our Q1 2023 survey , frequent users were not just visiting QSRs; they planned to keep visiting.

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