Revenue Hub

SEPTEMBER 27, 2023

NB: This is an article from Fairmas One powerful approach that has been gaining momentum is “Zero-Based Budgeting” (ZBB). For years, this method has revolutionized how hotels allocate resources, promoting efficiency, agility, and smart decision-making. Benefits for Hotels 1. Implementing Zero-Based Budgeting 1.

Budgeting 80

Budgeting Guest Satisfaction Article Blog 80

Revenue Hub

NOVEMBER 8, 2023

As we enter the fourth quarter of the year, hotel marketers should outline their goals for 2024. NB: This is an article from Travelboom Hoteliers understand the importance of budget season, but often dread dealing with the details. SWOT Analysis for Hotels Do you have a hotel SWOT analysis? Don’t skip this step!

Budgeting 90

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.

Budgeting 93

Budgeting Revenue Projections Article Maintenance 93

SiteMinder

SEPTEMBER 10, 2023

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets.

Budgeting 59

Budgeting Maintenance Front Desk Operations Document 59

Revfine

SEPTEMBER 22, 2023

A hotel budget plan is a projection of financial earnings and expenditures over a defined period of time, allowing your hotel to understand its financial status and determine how much money is available for planned or unplanned projects.

Budgeting 59

Budgeting Article 59

Revenue Hub

NOVEMBER 3, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. Are there ways to make the 2024 budgeting process more streamlined and efficient? Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year.

Budgeting 92

Budgeting Strategic Planning Article Accounting 92

eHotelier

APRIL 21, 2024

Radio Hotel, the first and only full-service boutique hotel in Washington Heights, announced Danielle Dymond as the new Hotel General Manager. As former Director of Sales & Marketing at Radio Hotel, Danielle will also oversee and execute hotel marketing strategies.

Budgeting 246

Budgeting Marketing 246

Boutique Hotel News

MARCH 15, 2023

UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. Contents of the Budget which affect hospitality includes: • From August, alcohol taxes on wines will rise by up to 50p a bottle but the duty charged on draught beer will be up to 11p lower than the duty in supermarkets. • million) will be abolished.

Budgeting 130

Budgeting Pricing Presentation Marketing 130

Revenue Hub

FEBRUARY 28, 2024

Many vendors will now be asking hotels to pay ad spend upfront. NB: This is an article from Triptease , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Let’s dive into what this means for your hotel’s budgeting strategies and how you can navigate these circumstances.

Budgeting 89

Budgeting Article Marketing Book 89

Hotel Owner

AUGUST 7, 2023

Travelodge has announced it is upgrading a further 55 hotels across its estate to the group’s new Budget-Luxe design, with 25 sites in key staycation destinations fast tracked to be completed in time for the summer staycation period.

Budgeting 96

Budgeting Scheduling Book 96

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? Is budgeting critical in hotels?

Budgeting 82

Budgeting Information Article Events 82

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.

Budgeting 80

Budgeting Pricing Accounting Article 80

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? GOP margins have remained relatively flat since 2019.

Budgeting 99

Budgeting Travel and Tourism Pricing Article 99

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. The third hotel is situated in Hexham, the getaway to Hadrian’s Wall.

Budgeting 105

Budgeting Training Marketing 105

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Don’t worry, we’ve got you covered! Let’s dive in!

Budgeting 85

Budgeting Accounting Pricing Article 85

Hotelogix

JANUARY 20, 2023

The post Hotels across the globe are increasing their IT budgets: What about you appeared first on Hotelogix.

Budgeting 130

Budgeting 130

Hospitality Net

NOVEMBER 8, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times.

Budgeting 83

Budgeting Article 83

Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. In this article, we will use insights from the survey to identify ways hoteliers can make a positive impact in easing traveler budget concerns. Consider the location and views of each room.

Budgeting 81

Budgeting Pricing Article Catering 81

Hotel Owner

NOVEMBER 7, 2023

AGO Hotels has called for the government to “protect businesses from economic fragility and demonstrate commitment to the hospitality industry, a huge contributor to the UK economy”, ahead of the Autumn Budget. As wages and other costs continue to rise, Benjamin is “looking at where the Government will offer a helping hand”.

Budgeting 98

Budgeting Scheduling 98

Hotel Owner

APRIL 6, 2023

The Greenleaf Group has received planning permission to deliver a new 106-bed hotel for the budget hotel sector on a high-profile site on the Liffey Quays, Dublin. Currently, McCauley Daye O’Connell Architects has been appointed to design the high-quality landmark hotel building.

Budgeting 105

Budgeting Back of House 105

eHotelier

OCTOBER 25, 2023

Red Planet Hotels shares news on "The First Real Budget Hotel" in the premier Uptown district in Bonifacio Global City, The Philippines. The prominent budget hotel chain also talks about their current hotel portfolio and other exciting firsts for the sector.

Budgeting 246

Budgeting 246

Lodging Magazine Operations

SEPTEMBER 6, 2023

Budget season is looming, and it’s a time when everyone goes to the mat to decide what to cut and what to purchase in the new year. If a hotel phone system is more than 10-15 years old, it has likely been costing a property more than it delivers. There’s more happening in the fall than football.

Budgeting 110

Budgeting Magazine 110

Hotel Owner

FEBRUARY 29, 2024

Hospitality CEOs from groups including Mitchells and Butlers, Accor Hotels, Stonegate Pubs and Crerar Hotels have signed an open letter urging the Chancellor to take immediate action at the budget to prevent further business failure.

Budgeting 98

Budgeting 98

Hotelogix

JUNE 12, 2023

The post 78% of Hotels are likely to increase their IT budget. What about you? appeared first on Hotelogix.

Budgeting 125

Budgeting 125

Revenue Hub

JULY 25, 2023

Hotel digital marketing is a highly competitive space. 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.

Budgeting 77

Budgeting Strategic Planning Article Blog 77

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 61

Budgeting 61

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. So that’s one aspect.

Budgeting 105

Budgeting Book Pricing Marketing 105

Hospitality Net

AUGUST 22, 2023

In a groundbreaking move that is likely to reshape the Indian hospitality landscape, Cozzet Hotels & Resorts has proudly unveiled its latest venture: the “ Cozzet Collection”. Cozzet Hotels & Resorts is affiliated with Cygnett Hotels & Resorts.

Budgeting 87

Budgeting Marketing 87

Hospitality Net

OCTOBER 19, 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. What unique challenges are hotels facing in the 2024 budgeting and planning process? HotStats reached out to global hospitality leaders to find out.

Budgeting 75

Budgeting 75

Revfine

MARCH 21, 2024

Question for Our Revenue Management Expert Panel: What happens if hotel owners do not listen to revenue managers during budget preparations? What advice would you give to an RM team when asked to justify their budget?

Budgeting 52

Budgeting 52

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.

Budgeting 65

Budgeting Pricing Book Accounting 65

eHotelier

DECEMBER 11, 2022

The traditional P&L based on cost categories is not telling stories about what is going on in the business, nor does it help make any relevant decisions.

Budgeting 264

Budgeting 264

Hospitality Net

SEPTEMBER 26, 2023

One powerful approach that has been gaining momentum is “Zero-Based Budgeting” (ZBB). For years, this method has revolutionized how hotels allocate resources, promoting efficiency, agility, and smart decision-making. It has gained even more popularity due to the unforeseen circumstances caused by the COVID-19 pandemic.

Budgeting 55

Budgeting Blog 55

Serviced Apartments

MARCH 6, 2024

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

Budgeting 52

Budgeting Travel and Tourism Catering Pricing 52

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.

Budgeting 52

Budgeting Book Reservations Marketing 52

Hospitality Net

APRIL 28, 2023

Whether you’re marketing a global hotel brand or a local bed and breakfast, every property shares the same goal: filling all their rooms. But when you have a limited hotel marketing budget, it can be difficult to determine how to best use your funds.

Budgeting 64

Budgeting Marketing 64

Hospitality Net

NOVEMBER 3, 2023

This is no less true for budget season, although for many in the hotel sector, it can also come with a sense of foreboding. Each season brings with it change and, depending on the time of year, the chance for renewal and growth.

Budgeting 62

Budgeting 62