Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Why do we do this? Our demand dried up.

Marketing 95

Marketing Pricing Special Events Book 95

Revenue Hub

FEBRUARY 5, 2024

Open pricing is a hotel pricing and room distribution strategy that sells rooms at a rate that will both benefit the customer and provide the highest possible profit for the hotel at the same time. How does open pricing work? Open pricing offers more flexibility than the popular BAR strategy used by most hotels.

Pricing 93

Pricing Article Book Marketing 93

Revenue Hub

DECEMBER 12, 2023

In a hospitality industry marked by fierce competition and evolving consumer preferences, dynamic pricing has emerged as an indispensable strategy for success. This nuanced pricing approach, characterized by its responsiveness to market dynamics, plays a crucial role in enhancing key performance indicators (KPIs) for hotels.

Pricing 100

Pricing Guest Satisfaction Article Marketing 100

Revenue Hub

NOVEMBER 15, 2023

In the good old days, hotel room pricing used to be simple. As a result, however, hotels were often under priced when travellers were willing to pay more and overpriced when travellers were price sensitive. Subscribe to our weekly newsletter and stay up to date Today, most hotels take a dynamic approach to pricing.

Pricing 101

Pricing Book Special Events Article 101

Hotel Owner

JULY 28, 2023

The Gaskell Arms Hotel and Restaurant, situated in Much Wenlock, has been brought to market at the revised price of offers in excess of £750,000. Formerly a 17th Century coaching Inn, The Gaskell Arms has become a landmark in the sought after mediaeval town.

Pricing 98

Pricing Marketing Events 98

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 property also includes a spacious reception and lounge, “Llewelyn’s” breakfast and dining area which is also used for conferences and events, and a 60-seat bar with an additional snug area.

Pricing 104

Pricing Marketing Catering Events 104

Revenue Hub

DECEMBER 15, 2023

For hotels, this time offers a golden opportunity to implement effective pricing strategies that not only cater to the surge in guests but also optimize revenue generation. Dynamic Pricing Model Implementing a dynamic pricing model allows hotels to adjust rates based on demand fluctuations.

Pricing 98

Pricing Book Catering Article 98

Hotel Owner

JULY 3, 2023

The way that the majority of hotel businesses currently make price level decisions is by looking at historical data, taking what happened last year and comparing that with the upcoming dates year-on-year. This volatility is a consequence of changing patterns in demand across different markets and different customer segments.

Pricing 105

Pricing Book Information Marketing 105

Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. How can you maintain (and even grow) ADR and occupancy in a softening market?

Pricing 74

Pricing Reservations Property Management Article 74

Revenue Hub

SEPTEMBER 25, 2023

Talk to any hotel operator about empty rooms, and you’ll likely hear about price sensitivity. What if the relentless focus on price is causing more harm than good? If you think you know all there is to know about price sensitivity, prepare to think again.

Pricing 94

Pricing Travel and Tourism Special Events Article 94

Modern Restaurant Management

OCTOBER 23, 2023

With the fierce competition in the food industry, a well-thought-out pre-launch marketing strategy is crucial to ensure your restaurant gets the attention it deserves. In fact, Influencer Marketing Hu b stated that businesses are making $5.78 in earned media value for every $1 spent on influencer marketing.

Marketing 208

Marketing Information Events Accounting 208

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. They use market research to better understand their customers and what they are looking for. What are the pros and cons of dynamic pricing?

Pricing 95

Pricing Book Special Events Maintenance 95

Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

Pricing 91

Pricing Book Marketing Article 91

Hotel Owner

MARCH 27, 2024

The freehold of Morley House, a hotel development site with GDV for in excess of £250m, has hit the market for an undisclosed amount. This would include a rooftop to be used as a bar, for events and rooms. The site sits in the middle of a prime office destination and a growing leisure destination.

Marketing 98

Marketing Pricing Events 98

Hospitality Magazine

FEBRUARY 21, 2024

You want your venue to go the distance — here are some tips to kickstart your marketing strategy this year. But profiting from delivery should be front of mind, which means condensing your menu and pricing it accordingly. Get your venue listed There are many platforms guests rely on when choosing where to have their next meal.

Marketing 246

Marketing Accounting POS Systems Demo 246

SiteMinder

OCTOBER 10, 2023

What is hotel price monitoring? Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. This data-driven approach enables you to make informed pricing decisions , ensuring you remain competitive in the market while maximising revenue.

Pricing 59

Pricing Guest Satisfaction Information Catering 59

Revenue Hub

SEPTEMBER 12, 2023

Dynamic pricing is like a flexible price tag for products or services that can change depending on different factors. NB: This is an article from eZee Absolute Think of it as a “smart” price that goes up or down based on what’s happening at the moment. You might notice that the price isn’t the same all the time.

Pricing 90

Pricing Article Book Events 90

STAAH

DECEMBER 12, 2023

Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Craft targeted marketing campaigns that resonate with specific audience segments.

Pricing 79

Pricing Book Catering Reservations 79

Revenue Hub

JANUARY 30, 2024

A commercial strategy platform uses data from revenue, sales and marketing to identify the correlating data trends to provide insight relevant to each discipline. Revenue, sales, and marketing have their own departmental goals that determine how they are evaluated. They want marketing to spend more during times of low demand.

Marketing 89

Marketing Pricing Article Budgeting 89

Revenue Hub

APRIL 15, 2024

B2B hotel marketing focuses on building relationships with other businesses, such as travel agencies, corporate clients, and event organizers, differing fundamentally from B2C marketing’s target on individual consumers.

Marketing 84

Marketing Communication Article Catering 84

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.

Pricing 59

Pricing Guest Satisfaction Book Events 59

Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

Pricing 52

Pricing Book Events Article 52

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?

Pricing 77

Pricing Article Information Catering 77

STAAH

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand. Listening to the guests was key to informing room pricing that yielded the best returns for the business, i.e. moving into the era of dynamic pricing.

Pricing 72

Pricing Demo Reservations Training 72

Modern Restaurant Management

OCTOBER 1, 2022

Restaurant marketing revolves around making your business known. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Restaurants, in turn, have to deal with skyrocketing prices on products and fuel. Let’s look at low-budget restaurant marketing ideas to succeed in inflationary times.

Marketing 203

Marketing Budgeting Communication Information 203

Hotel Owner

JANUARY 3, 2024

The Emerald Healing Centre – Hotel and Retreat, formerly the Nightingale Hotel, on the Isle of Wight has been brought to market with a guide price of £850,000. It also includes a restaurant and dining area with 70 covers, and an events and bar space with 50 covers.

Marketing 96

Marketing Pricing Events 96

Hotel Owner

NOVEMBER 27, 2023

Boutique hotel, The Kings Arms, Dalbeattie has been brought to market off a guide price of £525,000. The property also benefits from a large restaurant bar area, perfect for hosting events, an outside terrace and a large outhouse suitable for development.

Marketing 98

Marketing Events Pricing 98

Boutique Hotel News

OCTOBER 21, 2022

UK: The Baltic Hotel, located in Liverpool’s Baltic Triangle, is being marketed by Knight Frank at a guide price of £10.5 The property has potential to develop a roof terrace and bar in addition to its existing indoor and outdoor pub areas, restaurant, and event space. Baltic Hotel first opened in July 2021 with 52 bedrooms.

Marketing 130

Marketing Training Pricing Events 130

Revenue Hub

MAY 2, 2023

The hotel industry is characterized by continuous change and intense competition, making it imperative for hoteliers to develop a deep understanding of market dynamics and customer preferences. 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.

Pricing 64

Pricing Article Book Events 64

The Restaurant Times

JUNE 21, 2022

Marketing and advertising are some of the most crucial activities to boost your restaurant’s success. Along with your service and ambiance, restaurant menu and price innovation is a must for every restaurant that wishes to attract more customers and increase its sales. How To Market Your Restaurant’s New Menu And Pricing.

Pricing 52

Pricing Marketing Definition Article 52

eZee Absolute

SEPTEMBER 11, 2023

Arjun was a hotelier now and I, knowing how difficult it was to make money in today’s market, joked about how his childhood dream of getting rich was now out of the question. 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.

Pricing 59

Pricing Book Marketing Events 59

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?

Pricing 59

Pricing Maintenance Communication Marketing 59

Hotel Owner

APRIL 27, 2023

Hotel operators have continued to outperform the wider hospitality sector as they were able to charge the same room rates as peak season prices in 2018, despite March’s wet weather, according to the RSM Hotel Tracker. Meanwhile, in the London market room rates increased from £196.21 in February to £135.51

Pricing 99

Pricing Events Marketing 99

Hotel Owner

NOVEMBER 9, 2023

Miskin Manor Hotel and Spa in Pontyclun has recently hit the market with no guide price being set. The hotel comprises 42 individually designed bedrooms and extensive conference and events facilities, along with an established health club & spa, award-winning restaurant and three helipads.

Marketing 98

Marketing Pricing Events 98

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

Pricing 59

Pricing Definition Book Marketing 59

Revenue Hub

JANUARY 12, 2024

The Super Bowl is not just a sporting event; For restaurant owners and managers, it is a golden opportunity to leverage Super Bowl restaurant marketing to bring in more people to spectate, celebrate, and enjoy some camaraderie and delicious food.

Marketing 91

Marketing Catering Article Events 91

Hotel Owner

JUNE 8, 2023

The Harbour Hotel Group has launched to market The Kings Arms Hotel in Christchurch at a guide price of £4m. The Kings Arms Hotel is a newly refurbished boutique hotel featuring 20 luxury en suite bedrooms and the multi-award winning King’s Restaurant, with wedding venue and events facilities.

Marketing 105

Marketing Events Pricing 105