Thu.May 09, 2024

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Pricing strategies: leveraging bias and psychological tricks for success

eHotelier

Effective pricing strategies are crucial for capturing consumer attention and driving sales. Leveraging psychological biases and tricks can profoundly influence consumer perception and behavior, so let's explore several proven pricing strategies that smartly use human psychology to enhance business success.

Pricing 277
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Picking the Right Meat Supplier

Modern Restaurant Management

Choosing the right meat supplier is crucial for restaurants aiming to offer top-notch meals that leave a lasting impression on their patrons. The quality of meat can dramatically affect the taste and overall experience of a dish. Here are several key tips for selecting a meat vendor that meets high-quality standards, ensuring that the meat you serve is of the best quality possible.

Catering 100
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Dusit Hotels & Resorts expands its presence in the Maldives with ‘all-inclusive’ lifestyle resort near Malé

eHotelier

Dusit Hotels and Resorts, the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies, has signed an agreement with Pearl Atoll Pvt Ltd to manage dusitD2 Feydhoo Maldives – a 125-key lifestyle resort on a private island near the main island of Malé.

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Hyatt Hotels Corporation Reports Q1 2024 Results

Lodging Magazine

CHICAGO, Illinois—Hyatt Hotels Corporation reported first quarter 2024 results. Highlights include: Mark S. Hoplamazian, president and CEO of Hyatt, said, “The year is off to a great start with gross fee revenue reaching a record of $262 million in the quarter. Our pipeline also reached a new record, expanding 10 percent year-over-year to 129,000 rooms, and we realized net rooms growth of 5.5 percent.

Magazine 116
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Business Automation in Hospitality: A New World

Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.

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IHG Hotels & Resorts announces Kuwait’s First Vignette Collection : Arabella Beach Hotel, Vignette Collection

eHotelier

IHG Hotels & Resorts introduces its first collection brand to Kuwait as Arabella Beach Hotel Kuwait, Vignette Collection opened on 6th May 2024. Prominently positioned on the Arabian Gulf shoreline, the 195 room property joins IHG’s growing Luxury & Lifestyle portfolio – now the second largest in the world – to mark the GCC region’s second Vignette Collection, following Th8 Palm Dubai Beach Resort Vignette Collection’s opening in Summer this year.

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David Martins appointed Director of Sales & Marketing at Waldorf Astoria Beverly Hills

eHotelier

Waldorf Astoria Beverly Hills, the five-star hotel in the heart of Beverly Hills announced the newest addition to the executive team with the recent appointment of David Martins as director of sales and marketing. In his new role, Martins is responsible for overseeing all sales and marketing initiatives at the award-winning property, along with achieving sales growth, developing new and existing markets, and driving commercial performance.

Marketing 130
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This Week’s Comings & Goings

Lodging Magazine

Sage Hospitality Group announced Justin Fowler as chief operating officer for Sage Restaurant Concepts, overseeing more than 50 restaurants, bars, cafes, and venues in the SCR portfolio. Hospitality Ventures Management Group announced the company has named Linda Philp as senior vice president and chief financial officer. She will be responsible for the company’s accounting, financial reporting, and risk management functions.

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Ivy Kwan appointed Senior Vice President of Sales and Marketing at Capella Hotel Group

eHotelier

Capella Hotel Group is delighted to announce the appointment of Ivy Kwan as Senior Vice President of Sales and Marketing. Joining the group on 1 April 2024, Kwan brings with her a distinguished track record of success in the luxury hospitality industry.

Marketing 130
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Aimbridge Hospitality Names Eric B. Jacobs Chief Global Growth Officer

Lodging Magazine

PLANO, Texas—Aimbridge Hospitality, a leading, global hotel management company and the world’s largest third-party hotel operator, today announced Eric B. Jacobs as its new Chief Global Growth Officer, effective June 2, 2024. Jacobs will sit on the organization’s executive leadership team and report directly to Craig S. Smith, Chief Executive Officer.

Magazine 111
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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Choice Hotels International concludes 68th Annual Convention, one of its largest ever

eHotelier

Last week, Choice Hotels International concluded its 68th Annual Convention in Las Vegas, NV, one of the largest to date. Over the course of three days, Choice provided owners and operators with a roadmap on how together they will capitalize on their competitive position to capture the growing demand for travel. Choice announced the relaunch of Park Inn by Radisson and its strategic repositioning into the premium value space.

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Best Practices for Ski Resorts During Shoulder Season

Revenue Hub

Ski resorts are likely familiar with the ebb and flow of business throughout the year. The bustling peak season fills your rooms and restaurants, but crowds disperse during shoulder season. However, that doesn’t mean that all business has to cease. NB: This is an article from Knowland Subscribe to our weekly newsletter and stay up to date For ski resorts, shoulder season is a golden opportunity waiting to be seized, even when the snow melts.

Events 96
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Jumeirah enters next phase of growth with unveiling of brand new identity

eHotelier

Today, Jumeirah unveils its new brand identity marking a key milestone in its growth strategy to double the size of the portfolio by 2030. The new visual identity is the first stage in a journey of brand evolution designed to inspire a new perspective of luxury for discerning travellers. Building on its origins and reputation for generous hospitality, the move will see Jumeirah reaffirm its position as an industry pioneer, with curated experiences that shape perceptions and trends.

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Wait, the Cheapest Bottle on a Wine List Costs How Much Now?

EATER

Less than a decade ago, it was routine to find great wines under $40 at top New York City restaurants. What happens when even entry-level wines feel like luxury items?

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Beyond Basics: The Power of Appraisal/Valuation-Backed Cost Segregation Strategies

eHotelier

As Sophisticated Lodging Professionals, you know the Tax Savings strategy and benefits of a Quality Cost Segregation Study. You know, and understand, that a Quality Cost Segregation Study looks at all Commercial Non-Residential 39-Year Property, and all Commercial Residential 27.5-Year Property, and reclassifies a percentage (%) of that Property away from long-lived 27.5 & 39-year Tax Depreciable Property to short-lived 5, 7 & 15-year Tax Depreciable Property.

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AI: A ‘new digital species’?

SAS

I've been fortunate to work on advanced analytics, machine learning and AI for more than 25 years. It’s more than a job. It’s my passion. So naturally, I was very interested in tuning into Microsoft AI CEO Mustafa Suleyman’s TED talk, What is an AI anyway? From my perspective, Mustafa [.] AI: A ‘new digital species’?

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The Hotel Show 2024 To Be A Global Hospitality Showcase With 28 National Pavilions

eHotelier

The Hotel Show 2024 is emerging as a global hospitality showcase with organisers dmg events revealing 28 countries have confirmed they will mount national pavilions at the event, which runs at the Dubai World Trade Centre (DWTC) from 4-6 June.

Events 130
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Value Based Pricing: Are You Charging What Your Rooms Are Worth?

Revenue Hub

Let’s talk about something revolutionary, yet as ancient as commerce itself: value-based pricing. It’s time to ditch the old-school, cost-plus mentality and hello to a pricing strategy that actually makes sense for your independent hotels. NB: This is an article from Topline Revenue , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date The Cost-Plus Conundrum Traditionally, hotels and other hospitality entities have leaned heavily on the cost-plus model.

Pricing 89
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Top 5 Ways to Optimize Your Loyalty Strategy

Speaker: Lauren Barash, Vice President, Brand Marketing

In an ever-evolving industry, building and retaining loyal customers is critical to the success of any restaurant business. Join Lauren Barash, VP of Brand Marketing at Full Course, as she delves into the world of restaurant loyalty programs, and reveals the top five essential strategies to optimize your approach! This webinar will explore: Loyalty trends and what you should be focusing on 📊 Actionable insights and ideas to help you develop the most powerful and effective loyalty program

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You Can Now Actually Refill Your Graza Bottle With Graza

EATER

Now you can fill up an empty Graza bottle with more Graza. | Graza The brand just launched refill cans of its TikTok-famous olive oil I have a confession: When that neon green nib of Graza pops into one of my cooking videos , despite my attempts to not get it in frame, it’s not always Graza coming out. More likely, it’s another brand of olive oil, which I’ve bought in bulk and then poured into the Graza bottle.

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How To Optimize Metasearch Bids For Direct Bookings

Revenue Hub

Metasearch serves as a powerful tool for hotels, wielding considerable influence within the online travel sphere. Established giants like Expedia, TripAdvisor, and Booking.com have long leveraged this platform to funnel bookings towards hotels. NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date However, while these bookings once seemed advantageous, they often come at the expense of reduced profitability for hotels, which prompts a strategic pivot toward

Book 89
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Hyatt reports Q1 global RevPAR increased 5.5%

Hotel Business

Hyatt Hotels Corporation , for the first quarter ended March 31, reported comparable systemwide hotel RevPAR increased 5.5% compared to the same period in 2023. In the U.S., RevPAR was up approximately 2%, excluding the impact of Easter. “The year is off to a great start with gross fee revenue reaching a record of $262 million in the quarter,” said Mark S.

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Hotel Strategies: How to Improve Your Length of Stay

Revenue Hub

In the dynamic world of hotel revenue management, it’s not just about filling rooms; it’s about maximising every opportunity. One powerful strategy that top-tier hoteliers swear by is Length of Stay (LOS) optimisation. By enticing guests to extend their visits, hotels can skyrocket their revenue, fine-tune occupancy rates, and deliver an unforgettable guest experience.

Book 86
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Win More in 2024: Your Guide to Restaurant Marketing Success

Your Guide to Restaurant Marketing Success Start maximizing ROI and doing more with less with Olo’s ultimate guide to restaurant marketing. In this guide: Strategies to level up in 4 key areas: data, audiences, content distribution, and loyalty Interactive checklists to help you track your progress throughout the year Tips for leveraging guest data across your entire business What you’ll learn: Level 1 | Beginner: Learn how to collect guest data, build a healthy subscriber list, launch personali

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Aimbridge names Eric B. Jacobs chief global growth officer

Hotel Business

Aimbridge Hospitality has appointed Eric B. Jacobs as its new chief global growth officer, effective June 2. He will sit on the organization’s executive leadership team and report directly to CEO Craig S. Smith. As chief global growth officer, Jacobs is set to oversee all aspects of growth and development, leveraging his more than three decades of North America and International leadership across development, operations, brand creation and brand positioning to grow Aimbridge’s hotel roster and h

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DMA Impact: 30% Drop in Google Hotel Ads Clicks & Bookings

Revenue Hub

Following several months of adaptation, on the 19th of January Google began to roll out changes it made in order to comply with DMA (Digital Markets Act) requirements; a roll-out that finished on the 7th of March. NB: This is an article from mirai , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Just days after the first changes were implemented, we began to see how they influenced hotel campaigns in Google Hotel Ads.

Book 86
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Placemakr Expands Across Texas With Four New Properties

Lodging Magazine

WASHINGTON—Placemakr announced an expansion across Texas with four new property launches, bringing the company’s total operations to over 800 units in the state. The expansion includes the acquisition of Placemakr Downtown Austin, formerly named 3Waller, a 259-unit property in the heart of downtown Austin, marking the sixth property acquisition for Placemakr.

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A Hotel Marketer’s Bold Blueprint for Unified Commercial Strategy

Revenue Hub

Why do commercial strategy silos persist? Here’s a perspective from a marketer, undoubtedly biased but fueled by a desire for unity and efficiency. NB: This is an article from Cogwheel Marketing , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Constructing a Champion Football Team Imagine if sales were the offense, the unit charging forward to score goals or points.

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Unlock Restaurant Success: Mastering 7 Vital Employment Laws

As a restaurant leader, your plate is full with responsibilities, from staff management to serving up delicious dishes. But amidst the hustle, there's a crucial area you can't afford to overlook – employment laws. In this comprehensive eBook, we'll unveil the seven essential employment laws every restaurant leader must master. We'll break down the intricacies of each law, showing you how it directly impacts your business.