Modern Restaurant Management

JANUARY 31, 2024

Will 2024 be a comeback year for restaurants? Despite challenges including inventory costs, commission fees and staff turnover, many restaurant owners are expressing optimism about moving forward, according to TouchBistro’s 2024 State of Restaurants Report. I think automation will be the biggest trend of 2024.

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Hotel Owner

JANUARY 8, 2024

While Knight Frank found that Q4 was the strongest quarter of the year with £615m of deals, the rising cost of debt, elevated operational costs and a “widening mismatch” between buyer and seller price expectations contributed to an overall decline in investment activity over the year.

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Revenue Hub

FEBRUARY 20, 2024

Smart hoteliers are putting several foundational elements in place for 2024. Key Revenue Management Trends for 2024 Effective revenue management includes a blend of technology, smart online marketing, competition analysis, and demand forecasting, to name a few. As you know, appropriate pricing is key to any profitable hotel.

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Larry Mogelonsky

JULY 24, 2023

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. The price is reasonable based on the rates in the guest’s near-past set of hotel experiences. While on paper, the $389 price tag looks good.

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Modern Restaurant Management

DECEMBER 28, 2023

Restaurant industry insiders offer their insights on F&B trends we can expect to see in 2024. Late Night Snacking : with the rise of trends like girl dinner this year, 2024 will be the year of late night snacking, with more consumers ordering delivery for food during late night hours.

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Hotel Owner

APRIL 15, 2024

Meanwhile, room occupancy among hotels with less than 25 rooms has continued to fall from 69% in February 2023 to 64% in February 2024. According to the accountancy firms, the higher costs have been driven in part by the same challenges facing all sectors, including higher interest rates and inflation. This is 8% less than Q3 2019.

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Revenue Hub

SEPTEMBER 5, 2023

NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Tracking daily rates can inform on peak revenue periods, the impact of events on revenue, and the impact of pricing strategies.

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Hotel Owner

FEBRUARY 16, 2024

Overall Scotland accounted for circa 14% of all UK hotel deals last year as “the market remained resilient despite ongoing economic headwinds”. Other key deals saw the sale of Mar Hall by EY Parthenon to Dubai based Dutco, which was marketed at a guide price of £12m.

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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. To give just one example, early in 2024 Marriott reported some of the following outcomes. In that report, its system included 9,000 properties and more than 1.6 million rooms.

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Hotel Business

APRIL 12, 2023

Full recovery following the pandemic appears likely by late 2024 or early 2025. International trips will account for a larger portion of the recovery this year: The international share of travel costs for U.S. However, international trips and live events are set to account for much of expected growth in 2023.

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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.

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Revenue Hub

MAY 9, 2023

NB: This is an article from LodgIQ , one of our Expert Partners The global business travel segment is expected to recover fully by 2024. Subscribe to our weekly newsletter and stay up to date Group business means big business for hotels, accounting for a significant portion of hotel revenue. Why is Group Forecasting Important?

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Revenue Hub

APRIL 14, 2023

Full recovery following the pandemic appears likely by late 2024 or early 2025. International trips will account for a larger portion of the recovery this year: The international share of travel costs for U.S. However, international trips and live events are set to account for much of expected growth in 2023. One-third of U.S.

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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. In reality, mergers give these large companies the power to dictate prices.

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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. during 2024 according to the Meetings Recovery Forecast. More likely than not, the hotelier would need some time to find the answer.

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Modern Restaurant Management

AUGUST 16, 2023

Integration capabilities with other software and tools, such as accounting software, online ordering platforms and third-party integrations. Despite potential price increases, food service businesses can still generate creative strategies to bolster foot traffic and drive sales.

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Hotel Business

OCTOBER 16, 2023

Elegant Hotel Collection has entered the luxury soft brand market, launching with 25 luxury hotels, targeting 50 properties globally by summer 2024. The group will operate on a pay-on-performance model biased toward results-based pricing rather than prohibitive fixed costs, delivering measurable ROI. “We

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Hotel Business

SEPTEMBER 27, 2023

In the first six months of 2023, conversions accounted for 63% of room signings, including the MGM Resorts transaction, and 25% excluding MGM. Four Points Express by Sheraton London Euston is expected to open in 2024 with 201 guestrooms following a significant renovation of the current property. The first U.K. Pancras International.

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Boutique Hotel News

DECEMBER 20, 2022

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. Payments will also form a major part of a hotelier’s CRM strategy moving forwards, especially taking into account the shift to eCommerce. per cent on average above inflation per year.

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Hotel Business

AUGUST 15, 2023

trillion in 2024—and grow to nearly $1.8 trillion in 2024 and grow to nearly $1.8 Global spending is expected to recover to pre-pandemic levels by the end of 2024—faster than the previously projected mid-2026 forecast in last year’s BTI Outlook. On average, lodging accounts for $391 and food and beverage is $189.

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eZee Absolute

DECEMBER 7, 2023

And with so many evolving hospitality trends for 2024, it can be very confusing. And with the year coming to an end, it’s necessary to shortlist the top trends in the hospitality industry to look out for in 2024. Sustainability is no longer a buzzword in 2024; it’s a guiding principle that shapes the choices of modern travellers.

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7 Shifts

DECEMBER 6, 2023

The Colorado minimum wage can potentially change every January , based on cost of living increases (as measured by Colorado’s Consumer Price Index). per hour, but this number will change again on January 1, 2024. For 2023, the state minimum wage is $13.65 The tipped minimum wage in Colorado is $10.63

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7 Shifts

DECEMBER 13, 2023

per hour , but increasing to $16 per hour starting January 1, 2024), plus any tips they receive. While the employer faced backlash online (and in the court of public opinion), the restaurant ownership was clear that they used this charge to increase employee wages instead of increasing menu prices. Lisa Guerin, J.D.

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7 Shifts

DECEMBER 6, 2023

The Colorado minimum wage can potentially change every January , based on cost of living increases (as measured by Colorado’s Consumer Price Index). per hour, but this number will change again on January 1, 2024. For 2023, the state minimum wage is $13.65 The tipped minimum wage in Colorado is $10.63

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7 Shifts

DECEMBER 13, 2023

per hour , but increasing to $16 per hour starting January 1, 2024), plus any tips they receive. While the employer faced backlash online (and in the court of public opinion), the restaurant ownership was clear that they used this charge to increase employee wages instead of increasing menu prices. Lisa Guerin, J.D.

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The Restaurant Times

MAY 31, 2020

These platforms also offer several restaurant marketing packages that enable cloud kitchen operators to promote their brand at a reasonable price. Create compelling content and post them regularly on social media accounts to engage your customers. They have a specific section on the top of the portal for sponsored marketing.

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Hotel Business

MAY 4, 2023

World of Hyatt member contribution accounted for 21% of room nights at ALG properties in the Americas during the quarter. ALG segment: Results were led by sustained strength of leisure travel demand, favorable pricing and elevated airlift for key Americas destinations.

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eZee Absolute

JANUARY 24, 2024

As he approaches the front desk to settle his account, the last thing you want is a cumbersome payment process overshadowing the quality of their stay. In fact, the Digital Payments market is expected to witness substantial growth, with the total transaction value projected to reach US$10.64tn in 2024.”

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Revenue Hub

NOVEMBER 22, 2023

NB: This is an article from CartStack Subscribe to our weekly newsletter and stay up to date Not to mention the ever-present battle with online travel agencies (OTAs), which account for 49% of all online hotel bookings. Dynamic pricing strategies that adjust room rates based on demand and market conditions.

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Xotels

JUNE 16, 2021

From the services and amenities to the overall design, everything is taken into account to make sure every guest experience is an unforgettable one. In short, acting as an innovator in this price bracket by heavily focusing and delivering services and products catered to the needs and wants of this segment. What makes them stand out?

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Metasphere

MARCH 13, 2022

But they tend to forget about the other part, which is nurturing their current or past accounts. Why not dig deep into your data and start marketing to all those accounts that canceled their events during the pandemic! Chances are, many of them are already planning for new events in 2023/2024. Research these accounts.

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Hotel Business

FEBRUARY 22, 2024

He continued, “While the geopolitical backdrop remains complex, 2024 is set to be rich in major international events which should continue to fuel growth and we start this new year with confidence. Business continued to benefit from price increases, notably supported by congresses and events that took place over the period.

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Modern Restaurant Management

MARCH 3, 2023

Key findings illustrating the industry's economic conditions include: Growth will continue : The foodservice industry is forecast to reach $997 billion in sales in 2023, driven in part by higher menu prices. Consumer spending at foodservice outlets was up 4 percent due to higher prices, reports The NPD Group*.

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Modern Restaurant Management

FEBRUARY 10, 2020

with the plant-based burger accounting for up to 10 percent of all Whoppers sold. billion by 2024. "At Ruby Tuesday, our focus is to provide freshly prepared, high-quality meal options that are full of flavor at an affordable price," said Jenifer Boyd Harmon, Chief Marketing Officer for Ruby Tuesday. "We to its menu.

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The Restaurant Times

AUGUST 5, 2022

According to a RedSeer Management Consulting analysis , cloud kitchens would be worth $2 billion in India by 2024, up from $400 million in 2019. Many customers are willing to order daily if the cuisine is reasonably priced and has a homely taste. They may serve high-quality cuisine to customers at a quarter of the price.

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Modern Restaurant Management

FEBRUARY 1, 2021

” Beware Increasing Prices. Businesses beware: A price increase for carryout or delivery food means an increase in negative reviews — and a downturn in restaurant reputation, if not demand. What they found: Ratings are price-adjusted rather than objective reviews of quality.

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Revenue Hub

FEBRUARY 27, 2023

hotel industry reported that the average daily rate and revenue per available room were the highest for any year on record , despite occupancy levels remaining flat, and is projected to grow in 2023 and 2024. Subscribe to our weekly newsletter and stay up to date In 2022, the U.S. You can’t win at what you don’t measure.

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