Hospitality Net

NOVEMBER 15, 2023

Following the government’s declaration of relaxed anti-pandemic measures in late 2022, experts predicted that China’s luxury market would revive in 2023. Despite a slow start, the market is showing optimistic signs of revival.

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Social Hospitality

FEBRUARY 13, 2024

Have you heard of unhinged marketing? Therefore, it’s crucial to treat unhinged marketing with caution and strategy. Here’s what you need to know about unhinged marketing, as well as success stories and what happens when things go wrong. What is Unhinged Marketing? Tailor your message to their vibe.

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Marketing Download Reservations Accounting 52

Modern Restaurant Management

APRIL 8, 2024

One way we further a culture of food safety is not shying away from pictures of our team wearing hair nets, gloves, and always portraying best practices. So hospitality and customer service is always first and foremost. There is no slow moving in these industries. Customer Centric Finally, food businesses are built around people.

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Front of House Customer Service Accounting Communication 188

eZee Absolute

JUNE 5, 2023

Introduction In an industry as competitive and dynamic as hospitality, understanding the factors that drive profitability is crucial for the success of any hotel business. By understanding the breakdown of expenses, such as labor, utilities, supplies, and marketing, hotels can implement cost-saving measures and improve their bottom line.

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Hospitality Net

OCTOBER 11, 2023

Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced the Crowne Plaza Dubai Marina Hotel selected the Knowland platform to gain access to insights into untapped industries and potential accounts, expand opportunities within the luxury hotel sector and empower sales teams to reallocate (..)

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Revenue Hub

JULY 17, 2023

Source What else is happening in the tourism and hospitality industries? Ramp up of events Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, has recently reported that June meeting and event volume is up 30.3%

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Synergy Suite

NOVEMBER 23, 2023

EBITDA is more than just a jargon-heavy financial term; it’s a clear indicator of your restaurant’s operational performance minus the direct impact of financial and accounting decisions. This metric is calculated by adding back interest, taxes, depreciation, and amortization to net income.

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Hotel Business

MARCH 13, 2024

By Jared Lerner In the competitive landscape of the hospitality industry, hotels are constantly seeking innovative ways to optimize their operations, increase revenue and enhance guest satisfaction. By offering rooms for shorter pockets of time, hotels can capitalize on periods of low occupancy and maximize their revenue potential.

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Hospitality Net

APRIL 9, 2024

As the travel market continues to evolve, with occupancy levels exhibiting extraordinary growth in most major markets around the world, today’s hoteliers are facing an array of challenges in managing their operations efficiently.

Accounting 96

Accounting Marketing 96

Hospitality Net

FEBRUARY 14, 2024

Aptech, provider of a leading suite of enterprise accounting, business intelligence, financial planning and management solutions for the hospitality industry, has announced the appointment of Jill Wilder as president of the company. Wilder has served as Aptech’s vice president for 22 years and has been with the company since 1986.

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Revenue Hub

NOVEMBER 7, 2023

NB: This is an article from Smartpricing Subscribe to our weekly newsletter and stay up to date Understanding Historical Data and Its Impact on Revenue Strategy At the heart of a thriving hospitality enterprise lies a treasure trove of data − your historical performance records. Why should you care about historical data?

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Download Article Pricing Definition 89

Hotel Owner

FEBRUARY 22, 2023

It is a vision of a better tourism industry, with sustainability as a core value that underpins all businesses, with courageous leaders who use the power of business to achieve the UN Sustainable Development Goals (SDGs), advance circularity, contribute to conservation and operate with Net Zero emissions.

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Revenue Hub

NOVEMBER 30, 2022

Distribution strategy in the hospitality industry is changing. Hoteliers are becoming more selective in how they think about managing channels, focusing on the value of partnership and net key performance indicator performance. NB: This is an article from IDeaS. Subscribe to our weekly newsletter and stay up to date.

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Hotel Business

MAY 4, 2023

. “We raised our full-year RevPAR outlook while maintaining our record level pipeline and industry-leading net rooms growth. ” First-quarter highlights Net income was $58 million in the first quarter of 2023 compared to net loss of $73 million in the first quarter of 2022. .” in the first quarter of 2023.

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Revenue Hub

APRIL 13, 2023

Really everyone in the industry is moving toward profitability as a new measurement,” says Joseph Rael, senior director of financial performance at STR, one of the industry’s leading providers of market data on the hotel industry worldwide. A hotel might have a high RevPAR but still not be profitable if its expenses are high.

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Hospitality Net

APRIL 29, 2024

M3, LLC (“M3” and formerly known as M3 Accounting Services, Inc.),

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Revenue Hub

OCTOBER 13, 2023

Market Trends: Being aware of market dynamics allows you to adapt your budget to capitalize on opportunities or mitigate risks. Competitor Analysis: By knowing what your competitors are doing, you can better set competitive prices, offer competitive services, and identify gaps in the market that you can introduce.

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Hotel Business

FEBRUARY 7, 2024

Last month, Carmen Almos launched Ashburton Hospitality , a full-service consultancy firm focused on asset management. Hotel Business spoke with the founder and CEO about her hospitality journey, the new venture and what it means for aspiring female hospitality professionals: How did you get your start in hospitality?

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Hotel Owner

OCTOBER 21, 2022

Due to the dynamic nature of the hospitality industry, data collection and analysis can often be pushed to the side, leaving management unsure of their property’s performance. Why are KPIs & data analytics important in the hospitality industry? . It takes into account all available rooms, including both unoccupied and occupied.

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Hospitality Net

AUGUST 15, 2023

When Pacific Pearl Hotels began investigating new accounting software for its growing portfolio of independent hotels, it conducted a deep dive into the leading accounting and financial management programs on the market.

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Accounting Marketing 74

Hospitality Net

JULY 17, 2023

Who would have thought that two junior accounting clerks working in Food and Beverage Control (a department that doesn’t even exist anymore) would be writing a book—and a Foreword for said book? Yet, here we are, with career paths that intersected through CP Hotels and Fairmont Hotels over the last forty years.

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Hospitality Net

SEPTEMBER 21, 2023

The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets. It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services.

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Hospitality Net

MARCH 27, 2024

Historically, Las Vegas was a gaming-centric market, with 61% of revenues coming from the casino category in 1990. Although gaming continues to serve as an economic engine in Las Vegas, according to CDC Gaming, food, beverage, and other departments accounted for a record 73.4% of total revenue, up from a combined 69.6% year over year.

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SiteMinder

OCTOBER 9, 2023

For instance, a consistently high occupancy rate might indicate effective marketing strategies, while low guest satisfaction scores could point to potential issues in service quality or amenities. In today’s competitive hospitality industry, understanding and optimising these metrics is crucial.

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Hotel Owner

JUNE 18, 2023

In the dynamic, customer-centric world of the hospitality industry, understanding your business’s performance is key to staying ahead of the competition. Net Promoter Score (NPS) NPS gauges customer loyalty by asking guests how likely they are to recommend your hotel to others. Booking Channels Identifying which channels (e.g.,

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Strategic Planning Guest Satisfaction Book Housekeeping 105

The Restaurant Times

MARCH 6, 2023

It is well known that the hospitality sector has lower profit margins than other market segments. In fact, according to reports , the net profit margins across the restaurant industry decreased from 16% in Q2 2021 to 9.59% in Q2 2022. The gross profit margin is left over after subtracting the cost of the goods sold.

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Hospitality Net

SEPTEMBER 19, 2023

Today, “Champagne” (sparkling wine produced in the Champagne region of northeastern France) accounts for 10% of the world’s consumption of sparkling wines by volume and 21% by value (Comité Champagne, 2023). On the back of increasing demand, the champagne market will grow from 253.5 million liters in 2023 to 311.1

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Revenue Hub

OCTOBER 25, 2023

NB: This is an article from IDeaS With everything from smartphone apps to door locks to checking in on guest activity, operators have long had more data than they could ever hope to sort through efficiently, and the big data conversation in hospitality has been overwhelmed with noise or misdirected by the wrong information.

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Hospitality Net

APRIL 26, 2024

M3, LLC (formerly known as M3 Accounting Services, Inc.)

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Accounting Marketing 45

Hospitality Net

OCTOBER 31, 2023

Join us for an informative session and dive deep into M3’s newest accounting solution, M3 CoreSelect. We’ll have a conversation with Sean White, the Director of Product Management, to explore the reasons behind the necessity of M3 CoreSelect in today’s market.

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Hospitality Net

JUNE 26, 2023

Renowned for its breathtaking beaches, vast landscapes, fascinating wildlife and cosmopolitan cities, Australia is a gem of the Asia-Pacific (APAC) tourism market and a dream destination for travelers around the globe. 44% of visitor spend was in regional areas, and regional tourism accounted for.

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Travel and Tourism Accounting Marketing 97

Hospitality Net

MAY 8, 2023

India’s amusement & theme parks industry is still nascent, accounting for only a minuscule global market share, however, demand in this segment is expected to increase in the future. Read on to know more.

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Accounting Marketing 64

Modern Restaurant Management

JANUARY 8, 2024

In 2024, staff shortages will force the hospitality industry to be even more efficient, adopting tech that streamlines all their processes, reducing the workload on their staff as much as possible. – Corin Camenisch, Product Marketing Lead at SumUp 1 + 0 = 3: The New Math of Marketing!

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Hospitality Net

JANUARY 30, 2024

The Association was officially launched at the Thailand Tourism Forum in Bangkok on the 15thJanuary 2024.The

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Modern Restaurant Management

DECEMBER 21, 2022

Instead, as these solutions advance, companies should refer to their technology as “Smart Carts,” or something in the same vein, to give a more accurate representation of what they provide and come off as warm and welcoming tools designed to elevate hospitality. – Tim McLaughlin, Founder & CEO, GoTab. "We

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POS Systems Pricing Front of House Marketing 198

Synergy Suite

DECEMBER 5, 2023

Variable costs, on the other hand, fluctuate with your sales and include expenses like food and beverage costs ( cost of goods sold, or COGS ), utilities, and marketing expenses. It acts as a financial safety net, helping you make informed decisions about cost-cutting or marketing strategies to weather downturns.

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Pricing Budgeting Information Marketing 52

eZee Absolute

JANUARY 9, 2024

POS terminals securely process and accept UPI payments, net banking, and credit and debit card payments ensuring a swift and hassle-free experience for both guests and staff. They help hotels to stay ahead of the curve, responding dynamically to the ever-evolving demands of the hospitality industry. So I will make it easy for you.

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