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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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.

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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.

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Revenue Hub

MARCH 4, 2024

If you’re a seasoned marketer, you might be familiar with myths that lead people to do bad things with good intentions. These fabled misconceptions can sour any strategic marketing plan. We’re here to expose the top hotel marketing myths as fact or fantasy. A one-time investment won’t yield sustainable results.

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InnQuest

JULY 10, 2023

Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users.

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Revenue Hub

APRIL 23, 2024

While traditional marketing tactics still hold value, Artificial Intelligence (AI) is emerging as a game-changer, offering a powerful tool to reach the right audience and maximize your return on investment (ROI). This can increase the conversions by two (2) fold – this is the magic of AI in hotel marketing.

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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.

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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?

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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.

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Blue Magnet Interactive

OCTOBER 27, 2023

The landscape of the hotel industry in 2024 is evolving rapidly, with an unmistakable tilt towards the digital sphere. From the undying power of social media to the continued importance of search engine marketing, maintaining a robust online presence is no longer a luxury – it’s a vital aspect of success.

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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.

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Budgeting Travel and Tourism Pricing Article 98

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!

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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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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.

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Budgeting Strategic Planning Article Blog 77

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.

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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.

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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.

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Revenue Hub

MARCH 22, 2024

Unfortunately, there is not a one-size-fits-all approach to marketing for hotels, and the days of dumping dollars into a single channel are long gone. Marketers must meet travelers where they shop—and in today’s digitally-dependent landscape, this means everywhere.

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Marketing Book Article Budgeting 90

Modern Restaurant Management

APRIL 18, 2024

The global restaurant fryers market is projected to grow at a CAGR of 5.6 The market sales are on course to increase from US$ 495.6 Million by 2033, according to Future Market Insights. It is a competitive landscape because restaurant owners navigate in order to select the best fryer for their demands and budget.

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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.

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Budgeting Book Pricing Marketing 105

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.

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Budgeting Marketing 66

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 65

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

SEPTEMBER 27, 2023

Generating revenue is key to any business, including hotels. This is why is very common that in the industry most hoteliers put all their effort on transactional marketing. Subscribe to our weekly newsletter and stay up to date Why transactional marketing is not enough in the hotel industry?

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Hotel Owner

APRIL 19, 2024

In fact, according to data firm OAG, European airlines have set aside more than 800 million seats between April and October, and further data indicates that 84% of consumers are prioritising travel within their own personal budgets this year. But where exactly do the opportunities lie for the mid-scale market in 2024?

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Marketing Presentation Pricing Book 98

Modern Restaurant Management

JUNE 10, 2020

Many hoteliers and restaruanteurs have wondered what to do about their marketing, do they pause it, carry on, spend less, spend more? But the question remains, what should they do about marketing during a pandemic like coronavirus? What You Can Do with Your Marketing Budget. Budgeting is a tricky one at this time.

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Marketing Budgeting Blog Book 207

Revenue Hub

OCTOBER 12, 2022

Beginning in the spring , we saw leisure demand surpass pre-pandemic levels globally with some markets reporting record-high reservation rates. With such positive indicators heading into 2023, how are you preparing to allocate your technology budget to tackle your greatest needs? Think outside the (marketing) box.

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Budgeting Reservations Book Article 86

Revenue Hub

JANUARY 18, 2024

NB: This is an article from Hotelchamp It’s a year where hotel marketers are reshaping their strategies to mirror the high-tech lifestyles of modern travellers. Dive into the biggest trends that are making waves in the dynamic world of hotel marketing this year. 91% of brands use video as a marketing tool.

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Marketing Budgeting Article Book 92

Revenue Hub

NOVEMBER 25, 2022

Hotel marketers are used to working on tight budgets and deadlines. The good news is that marketing in a recession is a lot like marketing in good times. You focus on your measurable performance, minimize your ineffective marketing, and stay nimble to take advantage of fleeting opportunities.

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Marketing Budgeting Article 79

Revenue Hub

JANUARY 13, 2023

Digital marketing in the hotel and hospitality industry is now crucial in order to get your hotel noticed by both new and existing customers. This then begs the question, what is hotel digital marketing? How much does digital marketing for hotels cost? NB: This is an article from Arise.

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Marketing Budgeting Pricing Book 87

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. In this context, reports are critical as they provide key insights into your hotel's operations, from housekeeping to finance, marketing, and guest preferences.

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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.

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Budgeting Travel and Tourism Catering Pricing 52

Xotels

AUGUST 15, 2022

How far are you with your targets, budget, and plan of attack for next year? Did you make your new hotel budget already or are you right in the middle? Now is the time to take action to build your hotel budget plan! It seems that not everyone goes into as much detail when making their budget.

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Budgeting Marketing Blog Accounting 59

Hotel Owner

OCTOBER 17, 2023

The Leonardo Hotel at St James Gate in Newcastle has been brought to market on behalf of a UK investment fund, with offers of over £31.8m The 274-bedroom, upper-midscale hotel is let to Leonardo Hotel Management (UK) Limited for the next 14.4 being sought. years and has a passing rent of £2,888,054 per annum.

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Marketing Budgeting Pricing Presentation 98

Revenue Hub

JANUARY 11, 2024

Hotel website, automated emails, reviews, OTAs, digital ads, social media, Google. There’s no shortage of ways to market your hotel. With so many marketing channels and blogs with bright ideas, it can get confusing about which shiny new marketing trend you should hop on board with. It comes down to priorities.

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Marketing Blog Budgeting Article 100

Revenue Hub

MARCH 26, 2024

When your sales and marketing teams are aligned with a mission to inspire and educate, you will effortlessly attract your future customers with information that speaks directly to their needs. Here are some strategies to help you squeeze every drop of potential from your efforts and budget. Let’s dive in!

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Marketing Information Article Pricing 62

Hotel Owner

FEBRUARY 19, 2024

The luxury market in the UK hotel sector witnessed a spike in room rates and profits at the end of 2023, according to the RSM Hotels Tracker: Focus on Asset Classes. The data found that although consumers are “continuing to feel the pinch” and cut back on luxury goods, they are still willing to spend on high-end hotels.

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