Revenue Hub

JUNE 22, 2023

LodgIQ product highlights: MarketIQ is a powerful hotel market intelligence tool that combines data analytics, segmentation, forecasting, and competitive analysis to provide valuable insights into the market from a high level down to a neighborhood level.

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Competitive Analysis Pricing Information Book 73

Revenue Hub

NOVEMBER 9, 2022

Data is now readily available to track and analyse market demand and identify market segments. Factors like current occupancy, seasonality and competitor pricing, which influence market demand, are all taken into consideration. This is often achieved by implementing rates that fluctuate based on market demand.

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Les Roches

JANUARY 25, 2024

Hotel industry players who can leverage data effectively gain valuable insights that can influence their strategic decisions, from setting room prices to designing hotel marketing strategies. It ranges from simple database management systems used for basic statistical analysis to sophisticated predictive modeling techniques.

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Hotelogix

OCTOBER 19, 2023

Review Analysis Yet another intrinsic part of competitive analysis of hotels, review analysis helps you figure out the reasons why your competitors are loved by customers. Such tools largely help in identifying pricing trends, rate positioning against compset, understanding market trends, and guest preferences. 

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SiteMinder

OCTOBER 18, 2023

This can be achieved in two main ways: Through marketing and branding efforts: Focus your marketing on the quality of your guest experience, specifically on any market-leading aspects of your offering. Identify your market To understand how a guest values your rooms and services, you first need to understand who that guest is.

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7 Shifts

OCTOBER 31, 2022

Section 3: Market Analysis. Section 4: Marketing Plan. A business plan should include information on your target market, competition, business model, marketing strategy, and financial projections. Your market position and competitive advantage. Section 3: Conduct a market analysis.

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Revenue Hub

FEBRUARY 20, 2024

Those hotels that remained open during the pandemic closures and implemented careful revenue management strengthened their position in the market. Key Revenue Management Trends for 2024 Effective revenue management includes a blend of technology, smart online marketing, competition analysis, and demand forecasting, to name a few.

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Modern Restaurant Management

OCTOBER 23, 2019

It requires statistical information about your target market, your geographic setting, and your market. When you get it right, your marketing ROI is higher, your tables are more consistently reserved and your revenue is more consistently flush. Perform a competitive analysis. Other tips for thinking about UVP.

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SiteMinder

SEPTEMBER 11, 2022

A sound SWOT analysis is the starting point for your hotel’s strategic actions and as such can fulfil many uses. Depending on your priorities, you can perform a SWOT analysis of the hotel industry, a multi-hotel portfolio, or a specific hotel in its local market. Need to know more about competitive analysis?

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Competitive Analysis Pricing Blog Information 72

Lithos POS

JANUARY 27, 2022

Ensuring Best Customer Service Management of Vendors, Inventory, and Equipment HR Objectives Marketing Planning menu Health and safety standards Managing costs. Marketing plays an important role in every business. You cannot succeed without a proper marketing plan. Some people think that marketing is just about spending money.

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The Restaurant Times

FEBRUARY 25, 2022

Do your market research, count the inventory, find the COGS (Cost of Goods Sold) numbers, and consider the indirect costs. Doing sufficient market research before finalizing a location always helps. This can also help with good marketing since happy customers bring in more customers via word-of-mouth.

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Les Roches

DECEMBER 23, 2022

A business plan is a detailed document that sets out a company’s purpose, vision, marketing objectives, financial plans, resource needs and how it will achieve its goals. An outline of your market research and potential so that you and your investors understand your target customers and potential market size. billion in 2017.

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SiteMinder

OCTOBER 5, 2023

A notable feature of Rev+ is its competitive analysis function, which allows users to compare their rates against those of selected competitors. Beyond just presenting data, Rev+ provides rate recommendations based on various market factors.

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7 Shifts

NOVEMBER 22, 2021

Customer Analysis : discuss the types of customers you will attract and serve. Competitive Analysis : document local competitors and show how you will be able to carve out a niche in your market. Marketing Plan : detail your pricing structure (e.g., social media marketing ) you will employ.

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Document Competitive Analysis Information Pricing 157

The Restaurant Times

MAY 25, 2021

With lockdown restrictions easing and restaurant business slowly picking up the pace in the UK market, it is an excellent time to revisit your restaurant’s business plans. This involves a detailed analysis of why you plan to open a cafe, the expected ROI, targeted clientele, etc. Promotion/marketing strategies .

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The Restaurant Times

SEPTEMBER 15, 2020

Conduct a location analysis on factors such as demographics, real estate prices, crowd density, target audience, expected footfall, average income, accessibility to market, and parking spaces. . It is highly advisable to do a competitive analysis to understand how your competitors are doing in that location.

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Revenue Hub

JULY 4, 2023

Subscribe to our weekly newsletter and stay up to date ADR benefits The ADR provides various beneficial insights, from evaluating overall room or property revenue performance to informing competitive analysis and pricing strategy. Facilitates competitive analysis. Offers an overview of room revenue performance.

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Competitive Analysis Pricing Article Information 67

eZee Absolute

NOVEMBER 19, 2023

Change in marketing trends and dynamics Challenge Marketing is one of the most common challenges faced by the hotel industry. Changes in the advertising and marketing trend often create problems for hoteliers. Also, traditional marketing methods aren’t that effective now. It is inevitable that with the right strategies.

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SiteMinder

AUGUST 18, 2022

At your hotel you also need to perform regular competitive analysis to see where you stand in the local market and how you can gain an advantage, or at least maximise your potential revenue and profit. This blog will tell you everything you need to know about hotel competitor analysis. Value-match your hotel.

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Revenue Hub

NOVEMBER 4, 2022

A hotel USP is one of the key secret ingredients behind a brilliant brand marketing strategy. As a hotelier it’s crucial to understand what attracts guests to your property, or what will attract them, so you can properly align your sales and marketing spend. Subscribe to our weekly newsletter and stay up to date.

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Xotels Hotel Revenue Management

SEPTEMBER 1, 2020

Hotel Market Size & Opportunities. Competitive positioning (how do you competitively price yourself in the market, evaluating your value-add and weighing it against your competitors). Marketing Experience. Experience Vs no Experience. What Makes a Great Hotel? How to Stand Out: 5 Steps for Success. Facilities.

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