Revenue Hub

FEBRUARY 15, 2023

Attribute-based pricing is becoming an increasingly popular pricing model in the hotel industry. NB: This is an article from BEONx , one of our Expert Partners It enables property managers to establish a range of rates in line with the features and services that a guest is willing to pay for. What is attribute-based pricing?

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Guest Satisfaction Pricing Book Reservations 95

Revenue Hub

MAY 17, 2024

NB: This is an article from WebRezPro Subscribe to our weekly newsletter and stay up to date It’s a crucial time to make a good impression and an opportunity to earn a big bunch of loyal fans. Read the full article at WebRezPro The post Peak Season Prep: An Independent Hotel Checklist appeared first on Revenue Hub.

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Pricing Article Information Book 79

Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. NB: This is an article from Beonprice , one of our Expert Partners. Pricing can be based on cost, competition, or demand. This is what’s known as demand-based pricing. What is demand-based pricing in hotels?

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Pricing Definition Article Marketing 77

Revenue Hub

JANUARY 15, 2024

NB: This is an article from Hotel Financial Coach On the other hand, most hoteliers are at a loss to properly set up and manage the transactions so that they do not end up with a mess in their books and systems. The critical aspect of the pricing is that every item should be discounted the same amount, i.e., percentage.

Accounting 91

Accounting Pricing Article Property Management 91

Les Roches

JANUARY 12, 2024

Pricing strategies are an essential part of commercial activity. Entrepreneurs, marketing strategists, and a whole host of other roles in practically every industry require a thorough knowledge of how to set pricing. It goe­s beyond simply assigning a random price and require­s strategic thinking and careful analysis.

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Pricing Marketing Definition Catering 52

Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The only way you can know how to price your specials is to create a costing card. The menu price.

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Pricing Server Marketing Budgeting 111

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

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Pricing Definition Book Marketing 59

Hotelogix

FEBRUARY 4, 2024

In this article, we'll take a closer look at the critical work areas and features of hotel management software you need to know about. You can update prices, add new items, and manage inventory. Accounting Managing your hotel's finances is essential, right? To be very precise - a cloud-based one.

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Restaurant Engine

FEBRUARY 8, 2023

This article examines why the best restaurants have these four social media accounts and how you can harness their power for your business. #1: This is why it’s so essential that you have correct information about your hours, address, phone, contact info, description, price range, category, reviews, and photos.

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Accounting Information Blog Events 59

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! Industry Outlook Articles Revenue Management in a Crisis or Economic Downturn. Competition is tough, prices have dropped and you are battling competitors for each and every room. Let´s dig in!

Article 52

Article Pricing Accounting Marketing 52

Revenue Hub

DECEMBER 4, 2023

NB: This is an article from DynamEat Today’s solutions excel at generating price choices and adjustments automatically by using advances in artificial intelligence and machine learning. The incorporation of new data sources, such as POS, is critical in enabling more intelligent pricing choices.

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Special Events Pricing Accounting Article 91

Revenue Hub

APRIL 19, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date This technology’s primary goal is to centralize and streamline all customer data. You’ll be able to capture necessary information from leads to create robust contact and account profiles. and facilitate smoother communication.

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Guest Satisfaction Catering Information Document 100

Revenue Hub

APRIL 29, 2024

NB: This is an article from RateGain Subscribe to our weekly newsletter and stay up to date It enables you to rapidly and concurrently update room availability and the most recent room pricing across numerous channels. Channel Manager for hotel software manages the real-time, safe, and secure online distribution of your hotel’s rooms.

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Reservations Book Article Pricing 103

Revenue Hub

APRIL 30, 2024

This article debunks these misconceptions, highlighting the complex nature of revenue management that goes beyond pricing to include market analysis and customer behavior. While pricing plays a crucial role in revenue management, it is just one aspect of a much broader strategy. However, this is far from the truth.

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Pricing Information Article Marketing 80

Revenue Hub

JANUARY 9, 2024

NB: This is an article from berner+becker , one of our Expert Partners Revenue management has always been a critical aspect of the hospitality and travel industry, it involves optimizing pricing and distribution strategies to maximize revenue, considering various factors such as demand, competition, and customer preferences.

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Pricing Article Definition Catering 99

Revenue Hub

APRIL 26, 2024

NB: This is an article from Travelboom Subscribe to our weekly newsletter and stay up to date With the loss of access to the Universal Analytics interface and API approaching, hoteliers should have already made the switch to GA4. Read the full article at Travelboom The post What the Universal Analytics Sunset Means for Hoteliers?

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Accounting Book Article Definition 99

Revenue Hub

FEBRUARY 29, 2024

NB: This is an article from Topline Revenue , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Debunking the Dream At first glance, the notion of selling out every room might seem like a hotelier’s fantasy come true. But what if there’s a simpler way? Finding Harmony in Chaos So, where does the sweet spot lie?

Guest Satisfaction 90

Guest Satisfaction Pricing Article Accounting 90

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.

Book 101

Book Accounting Article Pricing 101

Modern Restaurant Management

FEBRUARY 16, 2022

You can't scroll news sites without seeing more articles about inflation, but was does it mean for restaurants? Those who don’t are effectively lowering their prices. Understand if your prices are keeping pace with inflation and maintain a markup that matches the costs associated with paying suppliers and staff.

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Pricing Accounting Article Magazine 207

Revenue Hub

FEBRUARY 15, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date This shift will enhance adaptability, increase profitability, and empower data-driven decision-making – crucial advantages in today’s market. This profit-centric mindset is essential for success in today’s competitive environment.

Budgeting 99

Budgeting Article Pricing Marketing 99

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.

Travel and Tourism 84

Travel and Tourism Pricing Article Accounting 84

Revenue Hub

JANUARY 19, 2024

NB: This is an article from Agilysys Subscribe to our weekly newsletter and stay up to date This transition signifies a move beyond room-centric revenue evaluation to a holistic approach that includes all guest expenditures. This flexibility ensures that prices are aligned with the perceived value of these services.

Pricing 85

Pricing Article Workshop Guest Satisfaction 85

Modern Restaurant Management

SEPTEMBER 9, 2022

This article will cover how implementing automation tools like IoT monitoring can save your business money, protect your inventory, and save time. Rising Overhead Costs Are Hiking up Prices. Inflation drives price increases for raw materials and labor costs, which are some of a restaurant's most significant expenses.

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Revenue Hub

OCTOBER 26, 2022

hoteliers negotiating corporate accounts for 2023 are seeking the right balance of rates and services. We’ve got to get the pricing right, because if we don’t get the pricing right at our hotels, then we’re not going to have the desired [general operating profits] and [net operating profits] to flow to the bottom line,” she said.

Accounting 90

Accounting Pricing Marketing Article 90

Revenue Hub

SEPTEMBER 5, 2023

NB: This is an article from BEONx , one of our Expert Partners Effective management of room inventory can make or break a hotel’s reputation and bottom line. In this article, we’ll delve into the best practices that hotels can adopt to master the art of hotel room inventory management.

Pricing 99

Pricing Reservations Training Article 99

Revenue Hub

JULY 19, 2023

NB: This is an article from Lybra , one of our Expert Partners In this article, we delve into ten comprehensive strategies that can help you drive revenue and enhance guest experiences. Read more articles from Lybra The post 10 Strategies to Skyrocket Profitability in City Hotels appeared first on Revenue Hub.

Pricing 91

Pricing Article Strategic Planning Guest Satisfaction 91

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 this article, I discuss how we got here, where we are, and where we are headed.

Article 98

Article Pricing Accounting Marketing 98

Revenue Hub

MARCH 4, 2024

OTAs are offering guests the best of both worlds: lots of information about properties, pricing comparisons and real guests reviews. Read the full article at Bookboost The post Checkmate OTAs: 3 Winning Strategies to Drive Direct Bookings appeared first on Revenue Hub. ‍ Your direct booking channels -a.k.a.

Book 83

Book Communication Reservations Article 83

Revenue Hub

DECEMBER 9, 2022

As prices soar across the globe, hoteliers must find ways to control hotel energy costs in order to stay competitive in a highly price-sensitive market. NB: This is an article from Mews. Increased prices. Read rest of the article at Mews. Subscribe to our weekly newsletter and stay up to date.

Pricing 91

Pricing Article Catering Accounting 91

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.

Budgeting 87

Budgeting Accounting Pricing Article 87

Revenue Hub

JUNE 21, 2023

NB: This is an article from Duetto Subscribe to our weekly newsletter and stay up to date 80% Of Hotels Don’t Use Revenue Software According to Skift’s RMS Landscape report of 2019, more than 80% of hotels do not use an RMS. Some reading this may think: “If not for my competitors, how should I price?” It’s a lot of data!

Pricing 87

Pricing Accounting Article Book 87

Modern Restaurant Management

MAY 10, 2022

Nobody has time for that when there is a crowded dining room, to-go orders flying out the window and customers complaining about their favorite menu items going up in price. We’re going to park this one here until a little later in this article. Are you doing anything with that data? Leverage Purchasing Data.

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Cost Reduction Pricing Procurement Information 197

Revenue Hub

MARCH 5, 2024

Offer a Best Price Guarantee Before your customers book through your website, they will want to ensure they cannot get a better deal elsewhere. You must honour that rate if you provide a “Best Rate Guarantee” and a guest finds this price. And it will help you free up more double rooms to sell to price-conscious guests.

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Pricing Blog Book Article 81

Revenue Hub

JANUARY 31, 2023

NB: This is an article from berner+becker , one of our Expert Partners Due to their size and the amenities they offer to guests, lodging establishments are even more affected by the cost increase than consumers or private households. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable.

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Pricing Communication Definition Presentation 83

Revenue Hub

JULY 4, 2023

NB: This is an article from Altexsoft However, like any other technique, it comes with its own strengths and weaknesses. This continuous monitoring can reveal valuable insights, such as identifying peak revenue-generating periods, recognizing the impact of specific events on revenue, or understanding the effects of a new pricing strategy.

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Competitive Analysis Pricing Article Information 67

The Restaurant Times

SEPTEMBER 4, 2020

Pricing menu items for your restaurant business is one of the most challenging yet essential tasks. There are multiple ways of pricing the restaurant menu correctly. Or, serve meals at lower prices than your competitors. You can also work around your margins and quote a price that covers the essential cost. Direct Costs.

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Pricing Portion Control Customer Service Accounting 52

Revenue Hub

NOVEMBER 28, 2022

NB: This is an article from Arise. The price of SEO is based on many factors, which we’ll explain in more detail in this post. How is SEO priced? It’s critical when looking for these services, you take into account the expertise of the providers and not just the price point. Factors that will influence the price.

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Pricing Article Marketing Budgeting 93