Hotel Business

SEPTEMBER 15, 2023

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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Special Events Pricing Accounting Events 64

Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

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Pricing Book Article Events 64

MBB Hospitality

NOVEMBER 15, 2023

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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Pricing Training Portion Control POS Systems 52

Synergy Suite

OCTOBER 12, 2023

Gross profit margin is a fundamental financial metric that reveals the percentage of revenue left after accounting for the cost of goods sold (COGS). Analyze the gross profit margin to understand how efficiently you’re managing costs and pricing your menu items.

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SiteMinder

OCTOBER 5, 2023

However, while the platform provides a suite of tools designed to streamline operations, like reservation management, dynamic pricing, and integrated review systems, it’s essential for hoteliers to invest time in understanding and optimising these features. A particularly useful feature is the rate management tool.

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Competitive Analysis Book Information Property Management 59

Lithos POS

SEPTEMBER 27, 2023

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. So you can use the data for personalized marketing efforts.

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POS Systems Accounting Front of House Server 69

Lithos POS

DECEMBER 19, 2023

He acts as an accountant, overseeing invoices, payroll, profit and loss statements, and tax records. His duties include executing marketing strategies, recruitment, and hiring, ensuring food quality, staff training, and maintaining effective communication between the administrative team, kitchen staff, and front-of-house employees.

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SiteMinder

NOVEMBER 30, 2023

Stay on the cutting edge with SiteMinder Automated listing updates, tailored offers, in-depth competitor pricing insights and more, SiteMinder offers users the latest in hotel management technology. Revenue management systems Revenue Management Systems (RMS) employ data analytics to predict demand, optimise pricing, and maximise revenue.

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Guest Satisfaction Book Property Management Pricing 52

Les Roches

JULY 11, 2023

We’ll also discuss what steps you can take to improve your knowledge of customer service and how to tailor marketing to the consumer or customer you want to engage. Special events such as weddings will usually have only a handful of customers but many consumers. What is the difference between a customer and a consumer?

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Special Events Customer Service Marketing Hospitality Management 40

7 Shifts

NOVEMBER 9, 2022

When done right, email marketing works wonders—you stay top of mind and increase order values. of customers make a monthly purchase based on marketing emails. But what makes email newsletters such an effective marketing strategy for restaurants? Email newsletters are often the first marketing medium to break the news.

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SiteMinder

OCTOBER 10, 2023

This forecast takes into account the total number of rooms in the hotel and subtracts the number of rooms that are expected to be occupied. The result gives hotel managers an idea of how many rooms they can still sell, allowing them to make informed decisions about pricing, promotions, and distribution.

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Book Pricing Reservations Accounting 52

Synergy Suite

NOVEMBER 2, 2023

The formula for calculating labor cost percentage is straightforward: Labor cost percentage = (Total Revenue / Total Labor Costs) × 100 This calculation takes into account all labor-related expenses, including wages, benefits, and taxes, and expresses them as a percentage of total revenue.

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Scheduling Training Information Cost Reduction 52

Revenue Hub

OCTOBER 28, 2022

A Global Business Travel Association (GBTA) report estimated a full recovery of global business travel by 2026 – a result of many factors such as the Russian-Ukraine conflict causing inflation, high energy prices, labor shortages, supply chain, and frequent lockdowns in the world’s largest nation, China.

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Reservations Book Catering Special Events 73

Modern Restaurant Management

DECEMBER 21, 2022

More international brands will continue to enter the US market through delivery-only models. Consumers are realizing it’s a delicious wine with a good price point. Fast casual will continue to shine as it has since the pandemic generating the highest asking prices in the marketplace. – Alex Canter, CEO of Nextbite.

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Revenue Hub

AUGUST 22, 2023

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. Retailers have been using a technique called market basket analysis for many years to increase sales and capture more revenue by better understanding customer purchasing patterns.

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Special Events Book Information Reservations 71

Revenue Hub

OCTOBER 28, 2022

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. Retailers have been using a technique called market basket analysis for many years to increase sales and capture more revenue by better understanding customer purchasing patterns.

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Special Events Book Information Reservations 75

7 Shifts

JANUARY 31, 2023

You might also consider adding lower-priced wine selections as well so that customers don't have to choose between splurging on a bottle of champagne. Keep the special events coming Whether we’re talking about in-person or online events, these will help your restaurant stand out among all the other offers out there.

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Modern Restaurant Management

JUNE 19, 2020

Bloom Intelligence acquired SuperFi, a WiFi marketing company that provides professional email marketing services with advanced segmentation and analytics. a WiFi marketing and analytics platform for digital agencies, in December 2019. Bloom Intelligence Acquires SuperFi. Financial details of the deal were not disclosed.

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Sanitation Information Marketing Document 145

The Restaurant Times

SEPTEMBER 16, 2021

However, 11-years since its launch, the scope of Instagram has dramatically grown and well extended into marketing. There are ample business accounts on Instagram as of now looking for more opportunities and collaborations. . This article will highlight how you can leverage Instagram to ace restaurant marketing in the USA.

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Marketing Accounting Budgeting Special Events 52

7 Shifts

MARCH 30, 2022

Answer: restaurant advertising and marketing. Whether you feel like you've tried every advertising tactic in the book, or 2022 is the first time your restaurant has had a dedicated marketing budget, you can implement our restaurant advertising ideas to attract new customers and turn one-time visitors into loyal customers.

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