Revenue Hub

FEBRUARY 27, 2024

Many discussions focus on familiar strategies like dynamic pricing, personalized offers, and the use of revenue management systems, already widely used in big cities. The theory focuses on occupancy and ADR in isolation, disregard market insights and online positioning, relying heavily on historical trends.

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Pricing Budgeting Book Article 94

Revenue Hub

JANUARY 17, 2024

NB: This is an article from Userguest , one of our Expert Partners In this article, we’ll explore practical and effective ways for hoteliers to boost bookings and revenue in Q1 and Q2 of 2024 that align with the evolving landscape of travel and hotel trends. Harness the power of data to refine your marketing strategies.

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Book Pricing Article Marketing 91

eZee Absolute

FEBRUARY 15, 2024

That’s where metasearch platforms step in – like an upgrade to your usual marketing efforts. If the idea of integrating metasearch marketing sounds a bit like rocket science, fear not – this blog is here to be your trusty guide. Simply put, they create a one-stop shop for users to find their ideal stay.

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Marketing Book Pricing Information 52

Revenue Hub

DECEMBER 13, 2023

The marketing funnel refers to the journey a customer takes from ideation to execution of a purchase. The good news is that hybrid work models and consumers’ reevaluation of priorities have kept travel demand up, even if consumers are more price conscious. Where did this increase in demand come from?

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Marketing Book Article Budgeting 62

Boutique Hotel News

JANUARY 16, 2023

Industry leaders share their thoughts on the travel, hospitality and economic landscape in 2023. This more positive outlook is also seen in business travel, which now promises a long-awaited rebound with more than half of global company travel budgets back to pre-pandemic levels. . BHN reports.

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Pricing Marketing Budgeting Training 246

Revenue Hub

APRIL 30, 2024

This article debunks these misconceptions, highlighting the complex nature of revenue management that goes beyond pricing to include market analysis and customer behavior. While pricing plays a crucial role in revenue management, it is just one aspect of a much broader strategy. However, this is far from the truth.

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Pricing Information Article Marketing 76

Hospitality Magazine

MARCH 22, 2023

Local hospitality operators are facing pressures due to inflation and staff shortages, but the industry is feeling confident in a pre-covid landscape. The confidence index “takes the pulse of the market”, with the most recent figure sitting at 84/100 compared to 71/00 mid-last year. cents pre-pandemic.

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Budgeting Pricing Magazine Marketing 147

Modern Restaurant Management

FEBRUARY 1, 2023

When deciding where to recruit restaurant workers online, many job platforms promise to plaster your jobs across the Web for a fixed price. Traditional job advertising allows you to have a fixed budget while using old job data to inform decisions as to where to post your jobs. Positioning is key to job advertising.

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Budgeting Training Scheduling Pricing 186

Modern Restaurant Management

NOVEMBER 8, 2023

At the same time, producers, suppliers and shipping companies have increased their prices; rent and energy prices have also continued to go up vis-à-vis the impact of the Ukraine-Russia conflict. The linchpin, however, is connecting food experiences to the promise of restaurant marketing. Marketing is not magic.

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Training Marketing Pricing Budgeting 186

Revenue Hub

NOVEMBER 9, 2023

Step 1: Understand the Group Booking Landscape The journey to profitable group booking management begins with understanding the landscape. Each has its own demands, booking patterns, and budget constraints. Knowing when groups are more likely to book can help you allocate resources and plan marketing efforts effectively.

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Book Pricing Guest Satisfaction Article 87

Revenue Hub

FEBRUARY 20, 2024

In the ever-evolving landscape of online advertising, staying ahead of the curve is paramount for businesses looking to maximize their revenue while also adapting to changes in user privacy expectations. You have two options for activating bids: a fixed bid per night or a percentage of the price of your room.

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Budgeting Article Marketing Pricing 86

MEWS

JANUARY 16, 2023

Flexibility and availability The traveler’s experience The future of hospitality Adapting to the market Conclusion What is a hostel? It is about lower-priced shared accommodations with a large dorm room containing bunk beds and shared bathroom facilities. Hostels are able to keep prices down by offering basic services and amenities.

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Budgeting Reservations Book Housekeeping 130

Les Roches

OCTOBER 23, 2023

Sales and marketing are exciting and rewarding fields in travel, tourism and hospitality. There are many roles in hospitality management that allow you to work as part of the fast-paced world of sales operations and marketing campaigns, such as sales manager, event management or marketing manager.

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Marketing Strategic Planning Travel and Tourism Guest Satisfaction 52

Modern Restaurant Management

DECEMBER 15, 2021

Since the labor shortage across the supply chain is likely to persist past the short-term and with other costs also increasing, one of the few ways restaurants can maintain their margins without raising their prices is to find ingredients that have better yields and require less labor to prepare. Where do you want to go tomorrow?

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Marketing Budgeting Pricing Information 193

InnQuest

AUGUST 15, 2023

At a glance: – Understanding the Hotel Channel Management Landscape – What Is A Hotel Channel Manager? As per reports , the hotel channel management market size is expected to be US $1483 million by 2032. – What Other Systems Can You Use With A Channel Manager At Your Hotel? What Is A Hotel Channel Manager?

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Reservations Book Property Management Pricing 130

Xotels

APRIL 3, 2024

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? Many define revenue management as: “Selling the Right Room to the Right Client at the Right Moment at the Right Price.” What Makes Hotels Suitable to Apply Revenue Management?

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Pricing Book Budgeting Marketing 52

SiteMinder

FEBRUARY 8, 2024

According to Statista research , revenue in the Travel & Tourism market is projected to reach US$184.50bn in 2024. Meanwhile, the largest Travel & Tourism market is the Hotels market with a projected market volume of US$93.62bn in 2024. In population size, that market is made up of just over 300 million people.

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Marketing Travel and Tourism Book Catering 52

SiteMinder

FEBRUARY 14, 2024

It enables: Market positioning and brand differentiation Adapting to trends allows hotels to position themselves strategically in a crowded market, highlighting unique selling points that resonate with current consumer interests. Otherwise they are combating inflation by choosing cheaper rooms or purchasing packages.

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Travel and Tourism Marketing Catering Book 59

Modern Restaurant Management

JANUARY 3, 2023

While lifted restrictions indicated a hopeful upswing, growing inflation, increasing worker pay and fear of a looming recession have caused the landscape to once again become worrying. Assessing market changes, customer behavior, tech advancement, and event redesigning floor plans can support operators and outpace competitors.

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Accounting Pricing Marketing Budgeting 184

eZee Absolute

AUGUST 10, 2023

In today’s dynamic and fiercely competitive hospitality industry, Hyper Personalized Marketing for Hotels has emerged as a powerful tool to stand out. To put it simply, hyper-personalized marketing for hotels involves delivering highly tailored and individualized experiences to customers and goes beyond traditional personalization techniques.

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Marketing Book Budgeting Information 52

Revenue Hub

AUGUST 22, 2023

Market Trends and Economic Indicators Industry Benchmarks and Competitive Landscape Customer Behaviour and Preferences Future Demand and Occupancy Trends Social Media and Online Sentiment Sustainable and Eco-Friendly Trends Market Trends and Economic Indicators The world around us is constantly changing, and it’s no different for the hotel industry.

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Travel and Tourism Guest Satisfaction Book Article 76

Hotelogix

OCTOBER 18, 2023

  As technology continues to reshape the hospitality landscape, the importance of an effective reservation system cannot be overstated—it's the key to unlocking efficiency and excellence in modern hotel management. This increases visibility, boosts bookings, and helps hotels tap into new markets.

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Reservations Book Information Guest Satisfaction 100

Revenue Hub

JUNE 21, 2023

NB: This is an article from Duetto Subscribe to our weekly newsletter and stay up to date 80% Of Hotels Don’t Use Revenue Software According to Skift’s RMS Landscape report of 2019, more than 80% of hotels do not use an RMS. Your Competition May Have No Idea What They’re Doing From market to market, this can vary greatly.

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Pricing Accounting Article Book 82

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. Microstays also provide hotels with an opportunity to connect with budget-conscious travelers who may be priced out of their rooms otherwise.

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Guest Satisfaction Catering Budgeting Scheduling 69

eZee Absolute

MAY 29, 2024

Understanding The Group Business Landscape Winning the RFP Game: Strategies for Hoteliers Bonus Tip: Negotiation for Securing The Deal What is Hotel RFP & Why is it Important? Understanding Group Business Landscape Remember that big corporate event we mentioned? Hear out the event planner’s concerns and budget limitations.

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Events Catering Book Budgeting 52

STAAH

APRIL 13, 2023

1) Stunning natural beauty : Bali is blessed with some of the most breathtaking landscapes in the world. 8) Affordable prices : Bali is an affordable destination for travelers, with accommodation, food, and activities available at a reasonable price. They have no word in their language for ‘artist’ or ‘art.’ And it’s true.

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Travel and Tourism Budgeting Business Development Events 95

Revenue Hub

DECEMBER 1, 2022

In a competitive operating environment, where every pricing decision counts, all hotels need to ensure that they are pricing themselves correctly in the market, minimising operational costs, and attracting the right guests at the right rates. It’s a competitive market out there, and we must grab every opportunity we can.

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Pricing Marketing Information Strategic Planning 76

Revenue Hub

APRIL 24, 2024

All of these are essential for operating in today’s competitive landscape. In order to maximize revenue across the business, hoteliers should focus their budget on elevating the guest experience using advanced reservations, distribution, marketing, and data services. Innovation? Long-term growth potential? Guest personalization?

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Book Reservations Article Information 87

Hotel Owner

APRIL 22, 2024

As hoteliers, partnering with a renowned chain brings immediate brand recognition and access to resources like centralised marketing strategies and loyalty programmes. Moreover, stringent brand protocols can restrict managerial flexibility, impeding the ability to innovate and adapt to the specific demands of the local market.

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Travel and Tourism Presentation Catering Housekeeping 98

Revenue Hub

MARCH 7, 2024

It’s about making smart decisions that continuously fuel growth and adapting swiftly to an ever-changing market. Whether it’s determining your pricing strategy, managing your occupancy rates, or identifying your guests’ favorite food, data analytics allow you to take a more strategic, informed approach.

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Information Pricing Guest Satisfaction Article 81

Les Roches

JANUARY 11, 2024

When setting sales goals, you need to make sure they align with the overall business objectives, which means considering factors such as sale­s volume, customer acquisition, profitability and market share­. To achieve­ revenue growth, imple­menting effective­ pricing strategies is fundamental and a discipline in itself.

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Definition Pricing Training Marketing 52

Synergy Suite

DECEMBER 5, 2023

To navigate this complex landscape successfully, restaurant owners need to be savvy not only in the culinary arts but also in financial management. 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.

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Pricing Budgeting Information Marketing 52

Synergy Suite

MAY 24, 2024

Internal factors include historical sales data, past and present expenses related to ensuring that customers can order everything they hope to from the menu, trends in the popularity and pricing of menu items , profit margins, and more. How does price impact its popularity?

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POS Systems Information Pricing Special Events 52

Revenue Hub

OCTOBER 17, 2023

That is said tongue and cheek but in the current hotel landscape, the efforts by lodging decision makers have been on room rates. The focus is on variable demand tied to market crises, short term booking windows, which are focused on guest spend and dynamic optimization embracing rate flexibility.

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Pricing Marketing Training Book 93

Revenue Hub

FEBRUARY 15, 2023

While the industry landscape has changed since then, one thing is still true. However, limited budgets will force many to adjust travel plans and reduce overall holiday spend. It’s the only way to develop the agile practices you need to detect, understand and quickly react to trends and market changes.

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Article Budgeting Reservations Communication 82

Modern Restaurant Management

JANUARY 3, 2024

– Peter Elias, owner of Spain Wine Bar in Ocean City, Maryland Looking forward to 2024, the landscape of customer engagement within the restaurant sector is poised for a substantial shift. The conventional approach of utilizing points-based reward systems is making way for a more personalized and gratifying model.

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Pricing Marketing Catering Front of House 129

Synergy Suite

NOVEMBER 30, 2023

They serve as a compass, guiding decisions on pricing strategies, menu development, and staffing levels, ultimately influencing the delicate balance between offering high-quality cuisine and ensuring the establishment’s profitability. For restaurant owners and managers, understanding and effectively managing prime costs are paramount.

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Portion Control Scheduling Pricing Training 52