Hospitality Net

FEBRUARY 12, 2024

As hospitality businesses navigate a “new normal” in 2024, many of the top owners and operators have shifted focus from traditional annual budgeting to a more dynamic and responsive forecasting approach. Let’s explore key budget and forecasting strategies to guide you in 2024.

Budgeting 88

Budgeting 88

Hospitality Magazine

JULY 26, 2023

Global business platform Xero has released its latest data as part of the Xero Small Business Index that covers statistics from February to June 2023. The Xero Small Business Index averaged 120 points in the first five months of this year, which is above the last result of 112 that was revealed at the end of 2022.

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Budgeting Magazine Information 246

Hotel Owner

MARCH 15, 2023

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. As part of the budget no further changes were announced on VAT, income tax or National Insurance levels. by the end of 2023.

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Budgeting Pricing 105

Social Hospitality

MARCH 29, 2023

Part of growing a business is to spend time, money, and effort on marketing. For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. But it’s a different story for small businesses. Bring business cards and other marketing materials.

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Budgeting Marketing Events Accounting 52

Revenue Hub

NOVEMBER 8, 2023

NB: This is an article from Travelboom Hoteliers understand the importance of budget season, but often dread dealing with the details. OTAs: At TravelBoom we like to think of the OTAs as a new business tool, not a set-and-forget way to fill empty rooms. Some may not even know where to begin. If not, now’s the time to create one.

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Budgeting Marketing Customer Service Article 90

Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. Without a budget, you risk financial instability and inefficiency.

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Budgeting Revenue Projections Article Maintenance 93

Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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Budgeting Pricing Accounting Article 80

Social Hospitality

MARCH 22, 2023

Part of growing a business is to spend time, money, and effort on marketing. For large companies, this goal is attainable because they’re more established and can set aside a generous marketing budget. But it’s a different story for small businesses. Bring business cards and other marketing materials.

Budgeting 52

Budgeting Marketing Events Accounting 52

Hotel Owner

MAY 15, 2023

The budget hotel sector has seen major growth in the last few years as people either cut back on luxuries or want less luxury from their hotel stays. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate. The outlook is good.

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Budgeting Book Pricing Marketing 105

Hotel Owner

JANUARY 25, 2023

Travelodge has revealed it has successfully completed the first phase of its multi-million pound budget-luxe hotel upgrade roll-out programme. In addition three new-build budget-luxe Travelodge hotels were also opened in the last six months. It is our intention to upgrade all of our hotel portfolio to the new budget-luxe format.

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Budgeting Training Marketing 105

Boutique Hotel News

JANUARY 16, 2023

Business travel will be robust and international. In total, 72 per cent of travel managers expect their business travel volume to increase either somewhat (46 per cent) or significantly (26 per cent) in 2023, when compared to 2019. Rising costs spur budget increases . Here’s what they found: 1. Supplier takeaway.

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Budgeting Download Events Pricing 130

Revenue Hub

OCTOBER 2, 2023

NB: This is an article from Demand Calendar Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets. Let’s start with the steps in budgeting for hotels. Is budgeting critical in hotels? This process is meticulous and time-consuming.

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Budgeting Information Article Events 82

Hotel Owner

APRIL 11, 2024

To maintain competitiveness in the contemporary hospitality sector, it is not merely advisable to invest in search and metasearch advertising campaigns; it is essential to do so in a professional, performance-oriented manner, optimising investments and accurately allocating budgets.

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Budgeting Book Reservations Marketing 52

Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? HotStats reached out to global hotel leaders to find out.

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Budgeting Travel and Tourism Pricing Article 99

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. Subscribe to our weekly newsletter and stay up to date In this guide, we’ll break down everything you need to know about budgeting with revenue best practices in mind. Look to your comp set to compare, then address inconsistencies in your business processes.

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Budgeting Accounting Pricing Article 85

eHotelier

APRIL 21, 2024

In her role, she will serve as the strategic business leader of property operations at the 221-room hotel and be responsible for creating and maintaining a high-performing service culture and managing budgets and reputation.

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Budgeting Marketing 246

Hotel Owner

MARCH 6, 2024

Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. This cut to National Insurance follows the 2p cut announced by Hunt in the Autumn Budget last year. Hunt also stated that business investment this year will be 10.6%

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Budgeting 52

Revenue Hub

OCTOBER 12, 2022

This trend continued throughout the summer, laying excellent foundations for a strong Q4 where hotel reservations are already outpacing 2019 bookings, according to Amadeus business intelligence data. With such positive indicators heading into 2023, how are you preparing to allocate your technology budget to tackle your greatest needs?

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Budgeting Reservations Book Article 87

Hospitality Net

AUGUST 22, 2023

The objective is to support small and medium-sized unbranded hotel owners and help them improve their technology, marketing, and business know-how.

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Budgeting Marketing 98

STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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Budgeting Pricing Book Accounting 63

Revenue Hub

JULY 25, 2023

NB: This is an article from Triptease , one of our Expert Partners But getting it right requires hoteliers to budget and manage costs effectively. In this blog, we’ll explore essential steps to help hoteliers optimize costs and budgets in their advertising campaigns.

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Budgeting Strategic Planning Article Blog 77

Modern Restaurant Management

FEBRUARY 27, 2023

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out.

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Bookkeeping Budgeting Scheduling Pricing 186

Hospitality Net

AUGUST 2, 2023

Is the business world still Zooming from home? Are carbon budgets replacing financial budgets? Has corporate travel spending made a full recovery from the pandemic?

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Budgeting 98

Hotel Owner

MARCH 7, 2024

The Bristol Hoteliers Association (BHA) has expressed its frustration at the outcome of the Spring Budget, saying that the government has once again left businesses “out in the cold” to face extremely challenging times with little support.

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Budgeting Pricing 52

Hotel Owner

OCTOBER 11, 2023

The Irish Hotels Federation (IHF) has expressed “deep disappointment” with the lack of measures in Budget 2024 to address the soaring costs of doing business for tourism and hospitality, Ireland’s largest indigenous employer. A fundamental restructuring of employers’ PRSI is now essential for our sector.

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Budgeting 52

Modern Restaurant Management

OCTOBER 12, 2023

Both legacy restaurants and newer establishments can agree that the literal cost of doing business from payment processing can severely hamper revenue growth from the first sale. business owners an added $1.2 Businesses can easily avoid this by becoming PCI compliant. billion in fees. merchants paid approximately $62.5

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Pricing Budgeting 177

Lodging Magazine

OCTOBER 18, 2022

WASHINGTON—The latest Business Travel Tracker from the U.S. companies paring back pandemic-era restrictions on business travel amid developing challenges in the form of high inflation and a looming recession—pointing to the need for immediate government intervention to sustain a positive rate of growth. Travel Association finds U.S.

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Budgeting Magazine 119

Hospitality Net

APRIL 18, 2024

Whether you’re a startup looking to maximize travel budgets, a travel manager wanting to recognize employees, or a construction foreman needing a last-minute, multi-week group booking—managing your company’s travel needs is now easier than ever thanks to Wyndham and its newly expanded, free-to-join, Wyndham Business program.

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Budgeting Book 40

Hospitality Net

MARCH 26, 2024

Digital and business transformation, enabled by cloud, isn’t really optional anymore. However, budget scrutiny will place those investments under a microscope forcing leaders to measure and unlock more value from them. Most organizations will continue to make significant investments in cloud.

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Budgeting 52

Hospitality Net

MAY 16, 2023

Business at the Hotel Nikko San Francisco is booming, especially since the property secured a spot on Forbes’ 2022 list of the 13 best hotels in San Francisco.

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Accounting Budgeting 92

Modern Restaurant Management

MAY 1, 2023

Cybercriminals are increasingly targeting restaurants, seeking to steal sensitive customer data and disrupt business operations. While many restaurant owners may not think they need to worry about cyber attacks, the reality is that no business is immune.

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POS Systems Information Budgeting Customer Service 199

Hospitality Net

FEBRUARY 5, 2024

Group business is back in a big way. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them.

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Budgeting Events 97

Revenue Hub

OCTOBER 31, 2023

The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. Subscribe to our weekly newsletter and stay up to date This is according to the latest GBTA Business Travel Outlook Poll released by the Global Business Travel Association.

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Budgeting Book Article Information 92

Hotel Business

AUGUST 25, 2023

Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. Business travelers report numerous, costly mistakes with manual entry, including missing receipts, duplicated expenses and mathematical errors. “As

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Budgeting Scheduling Training Events 98

Hotel Business

APRIL 12, 2023

The third edition of Deloitte’s corporate travel study, “Navigating Toward a New Normal,” examines why and when employees are expected to travel for business, as well as the dynamics creating headwinds and opportunities for the sector. based and European executives with travel budget oversight, fielded between Feb. One-third of U.S.

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Accounting Events Budgeting Pricing 111

Hospitality Magazine

FEBRUARY 6, 2023

People will adjust their budgets and choices, and you’re flexible enough to meet them with fresh new offers. The post Is your business in shape for the year? The industry must deal with labour shortages, inflation, high interest rates and ever changing food trends. But so do your competitors, and eating out is always popular.

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Bookkeeping Pricing Book Budgeting 162

Modern Restaurant Management

AUGUST 10, 2020

The days of full dining rooms and crowded bars are gone for now leaving many businesses struggling to pay employees and keep its doors open. Businesses across America are facing decreases in revenue. Less revenue for businesses and income for individuals means less tax dollars for federal and state governments.

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Budgeting Accounting Information 178