Restaurant Engine

DECEMBER 9, 2020

Some of your customers have even asked about catering options. But is a client base enough to start your catering business? Opening a catering business tied to your restaurant can add extra profits to your business. In this article, we look at how to tell if you should start catering. Let’s look at what you need to begin.

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Revenue Hub

OCTOBER 4, 2023

In the quest to maximize your hotel’s revenue, two buzzwords often come up: Revenue Management and Price Optimization. We demystify the differences between Revenue Management and Price Optimization and provide actionable insider tips to boost your hotel’s earnings. Price Optimization: Precision Pricing What is Price Optimization?

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Revenue Hub

AUGUST 22, 2023

Dynamic pricing is vital for hotel success today, but only some operators can see beyond the guestroom when applying this technology. NB: This is an article from IDeaS Many factors impacting guestroom dynamic pricing, like seasonality and occupancy, also play a role when optimizing event revenue. What could that look like in practice?

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The Restaurant Times

JANUARY 23, 2022

If you have a flair for cooking and want to monetize your passion and skills, you can easily combine the two to start your very own catering business in the USA. . The catering industry includes companies that provide individual event-based food services. In 2019, catering companies in the US earned $11 billion in revenue 2019.

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Hotel Owner

JUNE 16, 2023

Welsh family-run seaside hotel, The Lion, has been brought to market for the first time since 1978 for a reduced asking price of £1.8m. The four-star property was built in the 18th-Century, but has recently benefited from a refurbishment and offers 34 en-suite letting rooms and six ‘Castle View’ self-catering apartments.

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Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Les Roches

JANUARY 12, 2024

Pricing strategies are an essential part of commercial activity. Entrepreneurs, marketing strategists, and a whole host of other roles in practically every industry require a thorough knowledge of how to set pricing. It goe­s beyond simply assigning a random price and require­s strategic thinking and careful analysis.

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Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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SiteMinder

OCTOBER 10, 2023

What is discount pricing? Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. By offering discounted prices, hotels aim to increase demand, especially during off-peak periods, without compromising on profitability.

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eZee Absolute

SEPTEMBER 11, 2023

Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. In this blog, I will discuss everything Arjun told me (and what I know now) about dynamic pricing for hotels and how you can make the most out of it to mint revenue for your business.

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Modern Restaurant Management

JANUARY 15, 2024

Dive into Super Bowl-specific catering menus and other deals to reach those not leaving the house. Is inflation still driving wing prices? The price of many staple items is continuing to increase throughout the beginning of this year. What else should operators keep in mind to maximize profit for the popular item?

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The Restaurant Times

FEBRUARY 7, 2023

Menu pricing is one of the most underestimated aspects of restaurant management. If your customers don’t think the prices on your menu are reasonable, how great your concept or your food is won’t matter much. This is where the concept of dynamic pricing comes in to help restaurants! What Is Dynamic Menu Pricing?

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MEWS

MAY 2, 2023

It is designed to cater to a more targeted audience that values service and uniqueness beyond price.

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InnQuest

JULY 10, 2023

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. Imagine walking into a hotel that anticipates your needs, understands your unique desires and precisely caters to your individual preferences.

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Revenue Hub

MARCH 25, 2024

They enable personalized experiences, data collection, and targeted marketing efforts and direct bookings foster brand loyalty and give hotels control over pricing and policies. Payment Method: Select a booking engine that integrates various payment methods to cater to diverse guest preferences.

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Modern Restaurant Management

JANUARY 8, 2024

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. As the trend of digital nomadism continues to rise in the future, catering to this growing demographic becomes increasingly important.

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Revenue Hub

MARCH 13, 2024

NB: This is an article from Flyr for Hospitality , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date We spoke with Revenue Manager Alex Löw about how FLYR for Hospitality has helped revolutionise Tailormade’s pricing process. My pricing focus was never more than the next 14 days at each property. “We

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Hotel Owner

DECEMBER 7, 2023

The Park, the holiday park situated in Mawgan Porth, Cornwall, has been sold off a guide price of £3.75m. The five-star park comprises 110 bedrooms across 56 self-catering holiday units ranging from luxury lodges, cottages, park cabins and yurts. It is set within grounds extending to 21.5

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Modern Restaurant Management

MARCH 11, 2022

“We raised our prix-fixe lunch price by $1 and have increased catering prices minimally. The à la carte menu pricing has remained the same.” “We had a meeting and I mentioned to the team that I am conflicted about raising our prices,” Cizak said.

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InnQuest

SEPTEMBER 12, 2023

Food and Beverage Services: This department manages all dining and catering services within the hotel, including restaurants, room service, banquets, and bars. This includes advertising, promotions, pricing strategies and partnerships with travel agencies and online booking platforms.

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InnQuest

MARCH 2, 2023

In that case, you can focus on providing amenities that cater to their needs, such as a well-equipped business center or high-speed internet. Our software solutions come with competitive pricing while retaining their quality and functionality. For example, your target market is mainly business travelers.

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Hotelogix

DECEMBER 7, 2023

These platforms work like magic to spread the word about property, inventory, prices, offers, etc. Understanding your target audience: Different hotels cater to different markets, and different OTAs cater to different regions and audiences. Choosing the right OTAs to partner with requires research and strategic planning.

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Revenue Hub

JANUARY 12, 2024

Tailgate Party Catering Packages Offering special Super Bowl tailgate party packages can attract groups looking for an all-in-one solution for catered menus. Include a variety of appetizers, drinks, and main dishes for pickup or delivery to cater to different tastes.

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Revenue Hub

SEPTEMBER 25, 2023

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? They act as the secret ingredient that can help you achieve this fine balance of setting the right price at the right time. What are hotel rate types?

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InnQuest

OCTOBER 3, 2023

Multiple Payment Options: These solutions can accommodate various payment methods, making it easier for hotels to cater to guests’ diverse preferences. Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing.

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Modern Restaurant Management

JANUARY 9, 2024

Restaurants trying to attract price conscious diners should make sure that their menus carry several low-cost, higher margin staples that can be sold at reasonable prices. Consider reducing the size and price of certain staples and then offering a “super-sized” portion for a higher price.

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Revenue Hub

NOVEMBER 21, 2023

Understanding the Elements of Precision Segmentation The ability to cater to diverse guest preferences is crucial in hotels. Rate Code: Significance : Different rate codes represent diverse pricing strategies, enabling hotels to target segments with specific pricing and promotions.

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Revenue Hub

JANUARY 9, 2024

NB: This is an article from berner+becker , one of our Expert Partners Revenue management has always been a critical aspect of the hospitality and travel industry, it involves optimizing pricing and distribution strategies to maximize revenue, considering various factors such as demand, competition, and customer preferences.

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Hospitality Magazine

SEPTEMBER 6, 2023

But steak often comes with a hefty price tag, which means the protein is usually ordered by guests for special occasions over a casual meal — until now. While quality and taste were part of the criteria, price also influenced the final decision. “I Price point is naturally a big factor for the chef when selecting proteins. “We

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Modern Restaurant Management

AUGUST 18, 2020

At the beginning of the pandemic, Paul Dioguardi, owner of Colorado-based Hickory House Ribs, realized there was only so much he could do with the amount of available restaurant tables so he decided to focus on growing the catering side of the business. His updated marketing strategy included new wrapping for their catering van.

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Revenue Hub

NOVEMBER 29, 2023

Also, hotels should consider technology that helps merge sales and catering platforms or at least provides the ability to interchange data. Using this information, hotel sales teams can rely on faster, more robust evaluations of potential business while confirming guest needs with sales and catering within moments.

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Revenue Hub

DECEMBER 1, 2023

NB: This is an article from APS (Above Property Services) Subscribe to our weekly newsletter and stay up to date In response to these challenges, the industry is turning towards innovative pricing strategies, with Attribute-Based Selling (ABS) (also known as Attribute-based Pricing) emerging as a notable trend.

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InnQuest

OCTOBER 11, 2023

What To Keep In Mind While Choosing An Online Travel Agency: As you embark on your journey to choosing the right OTA, consider these crucial factors: Price Transparency: Ensure that the OTA provides clear pricing details, including fees and taxes. Booking Flexibility: Look for options that allow changes or cancellations.

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Revenue Hub

AUGUST 10, 2023

Subscribe to our weekly newsletter and stay up to date Our recent survey identified the key things that influence travelers when making vacation decisions and how price plays into it. While you can’t change your location, understanding the local pricing landscape is crucial. Consider the location and views of each room.

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Hotel Owner

APRIL 10, 2024

The four-star Douglas Hotel located on the Scottish Isle of Arran overlooking Brodick Bay has been placed up for sale off a guide price of £2.9m. The distinctive red sandstone hotel building offers 21 bedrooms, along with a 50-cover restaurant, a bar and a large outdoor terrace.

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Hospitality Net

NOVEMBER 28, 2023

The new Explorer by Elewana collection of upscale safari lodges will cater to a wider audience through a more moderate price point as well as an increased range of activities on property. For almost two decades Elewana has been delivering unforgettable experiences through its collection of 16 luxury properties across East Africa.

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Modern Restaurant Management

AUGUST 3, 2022

David Portalatin, NPD Food Industry Advisor and author of Eating Patterns in America, said there are three ways consumers are responding higher menu prices: they trade down to lower-priced items; cut back on the number of items ordered; or reduce restaurant visits altogether. Encourage catering and delivery.

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