Revenue Hub

AUGUST 23, 2023

Price is a very significant yet sensitive topic for many travelers. Remember that there is a correct way to respond to reviews on price when they are negative and positive. It All Starts with Expectations: One essential part of responding to reviews on price is including detailed information about your property.

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Pricing Guest Satisfaction Article Information 82

Hospitality Net

APRIL 12, 2023

Created by SuitePad, Europe’s leading provider of in-room tablets for the hospitality industry and an expert in digital guest communication, the report also reveals that this successful cost management applies only to the Average Daily Rate (ADR) and not to ancillary services. While the Average Daily Rate (ADR) in Europe increased by 18.5%

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Revenue Hub

JUNE 27, 2023

When hotels implement dynamic pricing, they are constantly adjusting their room rates based on mathematical algorithms aimed to increase occupancy based on area demand. The success or failure of price optimisation often depends on how the strategy is specifically implemented at an individual property. 2. Offer competitive rates.

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SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Les Roches

MAY 22, 2023

Effective customer communication management plays a vital part in a business’s success, from attracting prospective customers, moving them along the customer journey, and retaining them as loyal advocates. What is customer communication management (CCM)? What does a customer communication manager do?

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Communication Training Information Customer Service 52

SiteMinder

OCTOBER 10, 2023

What is cost based pricing? Cost-based pricing is a pricing method where the selling price of a product or service is determined by adding a markup to the unit cost or, in the case of hotels, the cost of keeping a room available and maintained for use. Table of contents Why do hotels use a cost-based pricing strategy?

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Revenue Hub

FEBRUARY 9, 2023

The price must be right When it comes to booking air travel, it’s all about price, with atypical, low pricing being the top thing consumers value. However, many airline industry professionals underestimate the impact of price and overestimate other things like the impact of contactless experiences.

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Pricing Budgeting Book Article 93

Les Roches

OCTOBER 27, 2023

If you want a career in hotel management , you’ll need to be familiar with many aspects of overseeing a hospitality venue, including hotel pricing strategy. However, there are various factors to be considered when pricing and, if you want to maximize revenue, it’s essential to know all about effective hotel pricing strategies.

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Pricing Communication Book Marketing 52

Hotelogix

MAY 16, 2024

Maximizing revenue with a revenue management system  A revenue management system uses historical data and market analytics to forecast demand and adjust pricing in real time. This tool is essential for understanding market trends and guest booking patterns and optimizing revenue through strategic pricing.

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Front Desk Operations Property Management Book Reservations 130

Modern Restaurant Management

MARCH 21, 2023

Many brands have been experimenting with new technology to help reduce the demand for labor and combat recent price inflation. Improving Communication with Customers With inflation increasing at record levels, it will be critical for QSR brands to easily relate the costs of materials, sourcing, and labor to customers clearly and concisely.

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Pricing Communication Customer Service Information 189

Hospitality Magazine

APRIL 17, 2024

Smart inventory and order management It’s tied to the POS for sales information and should be connected to your suppliers, who keep you informed on what’s out of stock snd price movements. Temperature tracking for refrigeration is everywhere and visible from your phone. Less waste and less stock holding.

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Maintenance Information Communication Presentation 264

Boutique Hotel News

NOVEMBER 15, 2022

The Ying’nFlo app will allow users to check-in and out, control in-room technology such as the television, air conditioning and lighting, communicate with reception, and browse local points of interest. In the lobby and communal spaces, vending machines will provide a range of supplies and snacks.

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Communication Pricing 264

InnQuest

OCTOBER 17, 2023

The key lies in managing overbookings effectively by offering suitable alternatives, compensation, and clear communication to minimize guest dissatisfaction. Hotels should clearly communicate their cancellation policies to guests during the booking process. In a competitive market, dynamic pricing gives hotels an edge.

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Reservations Guest Satisfaction Book Pricing 221

MBB Hospitality

NOVEMBER 23, 2019

Now that you’ve decided to open up your restaurant, you’ll have to determine pricing for all the delicious items you’ll sell to patrons. The right menu pricing strategy is essential for attracting customers and establishing a reliable client base. Pricing Based On Competition. Not Informing Staff About Marketing Efforts.

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Pricing Information Front of House Communication 52

Modern Restaurant Management

MAY 8, 2024

Prices for real estate, inventory, and labor are rising. Dynamic pricing, for example, is under scrutiny by the state of New York , whose legislators are considering a ban on the technology after a disastrous announcement from Wendy’s incited public outrage earlier this year.

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Customer Service Front of House Server Pricing 186

InnQuest

APRIL 3, 2023

Creating a Roadmap for Hotel Operations Creating a roadmap for hotel operations helps prioritize tasks and initiatives, improve communication, and ensure everyone is working towards the same goals. Here are some ways to streamline operational tasks for your hotel. This can also help identify areas for improvement and reduce inefficiencies.

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Revenue Hub

NOVEMBER 23, 2023

Properties with a focus on touroperation often find themselves entangled in the complexities of inventory management, strategic pricing, and allotments. The intricate web of dealing with numerous touroperators, each with distinct demands, makes it a formidable task to monitor inventory, pricing strategies, and contractual obligations.

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Pricing Communication Article Book 94

Revenue Hub

JANUARY 31, 2023

This is intended to partially offset the additional costs caused by the increased prices and pass them directly to the guests. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable. The guest pays the same price for the room as he did a month ago.

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Pricing Communication Definition Presentation 85

InnQuest

MARCH 2, 2023

Training programs should focus on customer service, communication, and industry-specific knowledge and should be ongoing to ensure that employees are always up-to-date on the latest trends and relevant best practices. Our software solutions come with competitive pricing while retaining their quality and functionality.

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Customer Service Training Guest Satisfaction Property Management 224

InnQuest

MARCH 3, 2023

Improved communication Cloud PMS software can significantly improve communication between guests and hotel staff. Hotels can create a seamless, memorable experience for their guests by streamlining operations and improving communication and data management.

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Communication Reservations Housekeeping Property Management 218

InnQuest

SEPTEMBER 12, 2023

This includes advertising, promotions, pricing strategies and partnerships with travel agencies and online booking platforms. Balancing the need to fill rooms during low seasons while maximizing profits during high seasons requires careful planning and dynamic pricing strategies.

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Maintenance Guest Satisfaction POS Systems Housekeeping 220

Revenue Hub

SEPTEMBER 5, 2023

This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods. By utilizing revenue management systems, hotels can optimize prices in real-time to strike a balance between attracting guests and maximizing revenue.

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Lodging Magazine

NOVEMBER 15, 2022

Challenged by both price increases and supply chain disruptions, buyers do well to exercise all the best practices at their disposal, including flexibility in product selection when possible, closely monitoring price fluctuations, exploiting volume buys, and maintaining regular communications with suppliers.

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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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Pricing Guest Satisfaction Presentation Article 95

STAAH

MAY 7, 2024

Dynamic pricing strategies Adjusting your room rates based on the season can help you cater to fluctuating demand. This flexibility allows you to meet guests’ expectations while ensuring your prices remain competitive in today’s digital market.

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Modern Restaurant Management

JUNE 30, 2023

Own Your Changes In March 2023, restaurants’ food prices were 8.8 When adding in the rising cost to attract and retain labor, it’s understandable that restaurants might raise prices to stay afloat. There’s also a feeling of being disregarded that comes with an unexplained price increase. percent this year.

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Hotelogix

OCTOBER 18, 2023

  👉It offers real-time information about room availability, pricing, and amenities, allowing potential guests to make informed decisions and quickly secure their reservations. It allows them to browse available rooms, view pricing and amenities, and make real-time reservations through various channels.

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Revenue Hub

MARCH 4, 2024

OTAs are offering guests the best of both worlds: lots of information about properties, pricing comparisons and real guests reviews. On the other hand, it makes it difficult for hotels to establish direct communication with guests, to develop a loyal customer base and ultimately, to grow their brand awareness.

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Revenue Hub

APRIL 15, 2024

Therefore, successful B2B hotel marketing strategies go beyond price and location advantages, emphasizing personalized service, flexibility, and the creation of memorable experiences. These clients seek value, reliability, and a partner that understands their complex travel and lodging requirements.

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Marketing Communication Article Catering 88

Modern Restaurant Management

DECEMBER 18, 2023

The best-case scenario is for restaurants and delivery services to find a balance where both businesses can turn a profit without passing on the costs to the consumer through higher menu prices or smaller portions, which can negatively impact customer loyalty.

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Revenue Hub

NOVEMBER 9, 2023

Rates and conditions: Offer non-refundable and prepaid rates at a great price. Carefully manage availability to maximize direct sales on your website and close lower value and net price channels. Look at OTA strategies and match or improve discounts in your direct channel to ensure competitiveness.

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Book Pricing Article Reservations 81

SiteMinder

APRIL 10, 2024

Payment processing creates fast, secure, and seamless cash flow, metasearch boosts direct bookings via popular sites like Google Hotel Ads and Trivago, and business intelligence allows access to real-time market and pricing data to enable better revenue strategies. Having everything in one platform has saved us so much time,” said Aditi.

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Communication Guest Satisfaction Book Marketing 98

Modern Restaurant Management

MARCH 30, 2022

Improved communication. If visibility is increased, then communication for employees can be more accurate. The savings are due to increased productivity and efficiency, the company can focus on innovation and growth rather than improving workflows and internal processes.

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Revenue Hub

AUGUST 24, 2023

Hoteliers and marketing executives in the hotel industry are faced with a multitude of challenges, including budgeting, marketing decisions, selecting appropriate distribution channels, and proper pricing. Revenue management should adjust prices according to demand and competition, ensuring an optimal price-performance ratio.

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Pricing Budgeting Article Reservations 89

Revenue Hub

SEPTEMBER 14, 2023

And they’ve already begun to transform many areas of the hotel and travel industry -from guest communication to marketing and revenue management. The most common AI applications in hospitality today include revenue optimization tools and guest communication platforms. And there’s a good reason for it. Both solutions are game changers.

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Information Pricing Communication Article 91

Hospitality Magazine

MAY 15, 2024

Within six months, there will be something to taste every day without us having to communicate it to the public.” The bulk of wine production used to come from there but now there is a new generation of winemakers exploring the area because the price of grapes is much more affordable. It’s an education piece,” says Filiuta.

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Revenue Hub

SEPTEMBER 21, 2023

Subscribe to our weekly newsletter and stay up to date Embrace Value-Added Packages Rather than slashing prices, consider offering value-added packages that provide additional benefits to guests. Utilize guest data and preferences to tailor marketing communications and provide a personalized experience that keeps guests coming back.

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