Remove Accounting Remove Budgeting Remove Pricing Remove Special Events
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Hotel dynamic pricing: Definition, examples, and best software to use

SiteMinder

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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Five myths about revenue management debunked

Hotel Business

For an effective pricing strategy, you should look to determine your offerings, including: Variety of rates Discounts Your loyalty program offerings Upsell opportunities Slow periods are an excellent time to understand price fences such as advanced purchase, deposit or cancellation policies, as these can be flexed over time.

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How to Wield Restaurant Food Costs to Your Advantage

MBB Hospitality

It involves tracking the cost of each ingredient, understanding seasonality, and recognizing price fluctuations. This granular approach helps in making informed decisions about menu design, portion sizes, and pricing, ensuring that each dish contributes positively to your bottom line.

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Restaurant POS system, the one-stop solution for restaurants

Lithos POS

POS helps you to automate various business functions such as inventory, payments, accounting, customer, and employee operations. You can integrate the software with other software such as accounting, inventory, CRM, payment, and other food aggregators. It allows you to manage everything in a centralized dashboard.

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Fast Food Restaurant Management – Diving deeper

Lithos POS

He acts as an accountant, overseeing invoices, payroll, profit and loss statements, and tax records. The general manager is responsible for day-to-day operations, budgeting, and ensuring that the restaurant fulfills its financial targets. They are responsible for monitoring finance and ensuring financial laws.

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7 Restaurant Employee Contest Ideas to Boost Sales and Engagement

7 Shifts

For your kitchen team, this could be a signature burger or sandwich special. Give your team a small budget for supplies or an ingredient allowance and have them present their dish or drink to the rest of the team for a tasting at your next staff meeting. For the front-of-house, a cocktail or coffee drink. Then, put it to a vote!

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How to decide on a career path

Les Roches

This will help you get some opinions and first-hand accounts of what it’s really like to work in a certain career path. Food and Beverage manager – Also known as F&B, this is managing inventory, orders, budgets, and planning of special events for restaurants, bars, and catering.