Revenue Hub

JANUARY 26, 2023

Examples of variable costs in a hotel: Food & Beverage Laundry Housekeeping Energy consumption Maintenance and repairs Marketing expenses Staffing expenses ERP Business Central Variable Costs Importance of managing variable costs Tracking variable costs is an essential part of managing a hotel’s finances and ensuring profitability.

Housekeeping 75

Housekeeping Budgeting Article Maintenance 75

Hotel Business

MARCH 9, 2023

Analogous to other industries, interior designers often focus on an aesthetic at a budget to meet today’s needs while ignoring lifecycle costs. Accounting for cleanability The pandemic has transformed the views of sanitation and cleanliness, especially in hospitality settings. Sustainable” products aren’t created equally.

Sanitation 98

Sanitation Maintenance Accounting Budgeting 98

The Restaurant Times

JUNE 3, 2020

Forecasting will also allow you to benefit from proper budgeting, which is very important for running a restaurant business. Irrespective of the restaurant format, food costs generally account for a significant part of overall restaurant expenses. Implement an Automated Accounting Process. Reduce maintenance costs.

Maintenance 88

Maintenance Accounting POS Systems Front of House 88

Modern Restaurant Management

MAY 16, 2022

. “Also, the potential for adding health insurance as a benefit will go a long way with employee retention and attraction, taking into account the consistent increase we are seeing in costs for that space.” “However, this comes at a cost that the owner needs to factor into their budgets,” Moller notes.

Budgeting 208

Budgeting Special Events Maintenance Events 208

Modern Restaurant Management

DECEMBER 10, 2019

Set a monthly or quarterly budget and stick to it. Forecasting can help you set the appropriate budget, taking seasonality into account. Whether it is a bill, repairing a faulty appliance, maintenance or another cost, it can have a big impact on your cash flow. Without a solid team, running a restaurant is impossible.

Budgeting 124

Budgeting Accounting Maintenance Reservations 124

Revenue Hub

MARCH 5, 2024

Revenue Limitations Imposed by Legacy Systems Inefficiency and High Maintenance Costs One of the most significant drawbacks of legacy systems is their inefficiency. A study by Forrester Research found that legacy systems can use up to 75% of a company’s IT budget just for maintenance , leaving only 25% for new initiatives.

Maintenance 96

Maintenance POS Systems Book Article 96

SiteMinder

OCTOBER 11, 2022

From hiring all staff to scheduling maintenance to creating new revenue management strategies , the hotel management team is extremely busy. Reporting issues to the maintenance team. Maintenance department. Most people assume that the maintenance department is called upon when something needs fixing. Removing rubbish.

Front of House 59

Front of House Housekeeping Maintenance Back of House 59

Modern Restaurant Management

JUNE 24, 2021

The great news is that an effective digital marketing strategy can be designed and implemented to fit just about any marketing budget. Most digital marketing agencies offer many important solutions for small to medium-sized restaurants, including: Website design, monitoring, and maintenance. Google Rankings and Google My Business.

Marketing 203

Marketing Communication Maintenance Budgeting 203

7 Shifts

MAY 3, 2021

Department-based budgeting When you integrate 7shifts with one of our many industry-leading restaurant-specific POS partners , you can use your sales data to make more accurate projections for the staff you’ll need. No more confusion when they arrive for their shift. Manager Log Book Managers get a communication upgrade, too.

Server 148

Server Budgeting Scheduling Communication 148

Synergy Suite

JULY 11, 2023

What to Look for in a Restaurant Payroll & HR System Accounting Integrations It is important to consider whether the payroll and HR system seamlessly integrates with your existing accounting software. Look for solutions that offer integrations with popular accounting platforms, such as QuickBooks or Xero.

POS Systems 52

POS Systems Maintenance Information Accounting 52

Revenue Hub

DECEMBER 8, 2023

Automation technologies make a difference in hotel operations and efficiency to streamline back-office tasks such as inventory management, accounting, and payroll processing. This allows for proactive maintenance, saving money in the long run.

Travel and Tourism 97

Travel and Tourism Procurement Maintenance Information 97

Hotel Business

SEPTEMBER 15, 2023

One way to account for these anomalies is by using revenue management technology that runs multiple models and then selects the ones that provide the most accurate forecasts. Myth #3: We need to pause rolling out an RMS to focus our budget on marketing. These models may differ by market segments as they change over time.

Special Events 64

Special Events Pricing Accounting Events 64

eZee Absolute

JANUARY 9, 2024

The automated transactions processed by these terminals significantly reduce the risk of errors associated with manual cash handling, ensuring precise accounting records. Meets Your Budget: Last but not least, evaluate the total cost of ownership, including setup fees, transaction charges, and ongoing maintenance costs.

Budgeting 59

Budgeting Training Information Communication 59

Hotel Business

MARCH 16, 2023

During the pandemic, there was a significant shift toward direct bookings due to decreased advertising budgets for OTAs. Over all four years of the study, travelers preferred to check in on Friday and Saturday, accounting for 36% of check-ins. Booking window In 2019, booking windows had a global average of 34 days.

Book 52

Book Maintenance Pricing Budgeting 52

7 Shifts

JANUARY 31, 2024

Accounting & finances Many owners—who take the initiative to fund and start the restaurant —expect you to keep the business open and profitable. This means you'll need to produce, manage, and analyze the budget and multiple financial reports. But smaller restaurants also have to worry about keeping the budget intact.

Scheduling 158

Scheduling Front of House Training Customer Service 158

7 Shifts

AUGUST 10, 2020

Document purpose, such as training materials, finance & accounting, scheduling, legal & compliance, mail and bills, etc. Don’t have the budget for any filing products? No need for an hourly deep clean of your entire office–just hold yourself accountable for reducing build-up where it’s not needed.

Document 140

Document Scheduling Book Accounting 140

Lithos POS

JANUARY 27, 2023

To invest in the right equipment you need to consider the following points Budget Budget is one of the important aspects when planning to purchase equipment for your restaurant. If you are limited by budget and don’t have much space in your restaurant, then you can find equipment that can meet your multiple needs.

Maintenance 52

Maintenance POS Systems Sanitation Budgeting 52

Blue Magnet Interactive

DECEMBER 20, 2023

These roles encompass Account Managers, SEO specialists, social media experts, designers/developers, email marketers, and a director. When renting, any maintenance or property issues become the landlord’s responsibility to address. Could all these digital marketing services for the 15 hotels be condensed into one role?

Marketing 52

Marketing Training Book Budgeting 52

Hotelogix

FEBRUARY 4, 2024

Maintenance requests: If a guest reports a maintenance issue, you can create a maintenance request, assign it to a staff member, and track its progress. Accounting Managing your hotel's finances is essential, right? With hotel management software, you can streamline your accounting operations. 

Housekeeping 147

Housekeeping Maintenance Reservations Accounting 147

The Restaurant Times

DECEMBER 3, 2021

Working within your budget’s limits is critical, as is developing an effective company plan that accounts for all employees, food, beverages, entertainment, maintenance, promotion, cleaning, and bills. Invest in a robust social media strategy and update your accounts with high-quality videos and photos regularly.

Events 52

Events Special Events Accounting Maintenance 52

Synergy Suite

NOVEMBER 30, 2023

Understanding and managing prime costs is vital for several reasons: Profitability: Prime costs, comprising both the cost of goods sold (COGS) and labor expenses, typically account for the largest portion of a restaurant’s expenses. Be prepared to adjust your calculations to account for seasonal fluctuations.

Portion Control 52

Portion Control Scheduling Pricing Training 52

Les Roches

DECEMBER 27, 2023

A bachelors in hospitality manage­ment or business administration can be extremely valuable as the­se programs cover key topics such as operations manageme­nt, accounting and marketing. These­ not only provide you with e­ssential skills but also enhance your employment prospe­cts.

Travel and Tourism 52

Travel and Tourism Hospitality Management Communication Customer Service 52

7 Shifts

JULY 31, 2020

And if they would forget to go check, it would not necessarily account for an event that was coming up, and were left, again, short-staffed, over-staffed. When our managers would do their schedule, they would have to manually check the event section to [see if there was] an event this week or not.

Scheduling 148

Scheduling Document POS Systems Communication 148

7 Shifts

JANUARY 31, 2024

Accounting & finances Many owners—who take the initiative to fund and start the restaurant —expect you to keep the business open and profitable. This means you'll need to produce, manage, and analyze the budget and multiple financial reports. But smaller restaurants also have to worry about keeping the budget intact.

Scheduling 78

Scheduling Front of House Training Customer Service 78

Synergy Suite

APRIL 24, 2023

Accounting and Financial Systems Integration with your accounting and financial software ensures a seamless flow of data related to online orders, sales, and revenue. Budget Review your budgetary constraints when selecting an online ordering system.

POS Systems 52

POS Systems Information Maintenance Pricing 52

Xotels

APRIL 3, 2024

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? property maintenance) and comparatively low variable costs (e.g., What Makes Hotels Suitable to Apply Revenue Management? What Does the Process of Revenue Management Look Like?

Pricing 52

Pricing Book Budgeting Marketing 52

Les Roches

AUGUST 12, 2022

Part of your role can include managing a group of departmental managers and overseeing budgets, sales targets, recruitment, customer complaints, building maintenance, housekeeping, and all licensing and health and safety regulations. Revenue management. In hotel revenue management , you’ll be responsible for optimizing hotel revenue.

Communication 52

Communication Housekeeping Customer Service Training 52

Les Roches

JANUARY 19, 2024

you’ll need a detailed breakdown of overheads such as staff wages, utilities, marketing efforts, and ongoing maintenance. For this, you will need to provide well-reasoned, yearly projections that take into account peak seasons and off-peak periods – and it’s the same in a large or small hotel plan.

Marketing 52

Marketing Book Accounting Procurement 52

7 Shifts

APRIL 3, 2020

Please note thought: this article is meant to provide information only and is not a substitute for any professional advice you may receive from an accountant, lawyer, HR, or other professional. Evaluate your restaurant scheduling practices to see if you are consistently over-budgeting on labor needs based on your sales.

POS Systems 147

POS Systems Cost Reduction Pricing Download 147

The Restaurant Times

NOVEMBER 4, 2021

A number of factors must be considered, including ergonomics, workflow, layout, hygiene, and budget, as well as the installation process. The greatest commercial kitchen in the world would be for waste if you didn’t take your local norms and laws into account. Know Your Local Health Codes . Source: iStock.

Back of House 98

Back of House Sanitation Accounting Maintenance 98

Xotels Hotel Revenue Management

NOVEMBER 11, 2019

There are various types of tools available for your hotel to carry out a thorough, accurate forecast, which differ depending on your needs and budget. Additional key metrics include any planned renovations and maintenance operations during the off-season, and the impact of any tax payment or interest rate obligation changes.

Reservations 52

Reservations Accounting Book Information 52

Modern Restaurant Management

DECEMBER 28, 2022

Operating Expenses (OpEx) are the recurring monthly bills a restaurant or bar usually budgets for: electricity and water, rent, food and alcohol, etc. Combined with at least another $1,000 in ice machine maintenance and repair fees every year, ice ends up consuming a significant chunk of the budget.

Maintenance 197

Maintenance Budgeting Reservations Back of House 197

Xotels

NOVEMBER 23, 2023

Housekeeping & Maintenance: Guest perceptions of a hotel are heavily influenced by the cleanliness and maintenance of rooms and common areas. Hotel management oversees effective housekeeping and maintenance procedures, ensuring well-maintained, hygienic, and aesthetically pleasing premises.

Housekeeping 40

Housekeeping Maintenance Article Concierge 40

Xotels

NOVEMBER 23, 2023

Housekeeping & Maintenance: Guest perceptions of a hotel are heavily influenced by the cleanliness and maintenance of rooms and common areas. Hotel management oversees effective housekeeping and maintenance procedures, ensuring well-maintained, hygienic, and aesthetically pleasing premises.

Housekeeping 40

Housekeeping Maintenance Article Concierge 40

Hotelogix

OCTOBER 18, 2023

Integration Capabilities Your POS system should seamlessly integrate with other crucial hotel systems, such as Property Management Systems (PMS), accounting software, and Customer Relationship Management (CRM) platforms.   Cost Consideration: Analyze the overall cost, including setup, licensing, and maintenance fees. 

POS Systems 130

POS Systems Guest Satisfaction Training Front of House 130

Synergy Suite

JULY 5, 2023

Excellent Support and Maintenance Look for a software provider that offers reliable support and maintenance services. Additionally, check for software updates and ongoing maintenance to ensure that your system remains up-to-date, secure, and compatible with evolving technology.

Maintenance 52

Maintenance POS Systems Server Training 52

SiteMinder

JANUARY 8, 2024

This can involve the management of anything related to the hotel industry and requires knowledge of distribution strategy, finance and accounts, customer service, staff management, marketing, catering management, hotel administration and more. This can include business people, long-stay travellers, budget travellers and backpackers.

Travel and Tourism 59

Travel and Tourism Book Housekeeping Customer Service 59