Revenue Hub

NOVEMBER 13, 2023

NB: This is an article from Global Asset Solutions This is no less true for budget season, although for many in the hotel sector, it can also come with a sense of foreboding. It will allow the Executive Team to build a budget with the ownership’s goal in mind. To have the budget approved by the ownership group straight away.

Budgeting 89

Budgeting Guest Satisfaction Strategic Planning Presentation 89

Revenue Hub

MAY 15, 2024

Revenue performance management is a strategic approach to maximizing a hotel’s revenue potential by understanding and meeting customer needs. Definition and Key Components Revenue Performance Management systematically analyzes and optimizes a hotel’s revenue streams.

Budgeting 74

Budgeting Pricing Definition Article 74

Revenue Hub

FEBRUARY 28, 2024

Many vendors will now be asking hotels to pay ad spend upfront. NB: This is an article from Triptease , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Let’s dive into what this means for your hotel’s budgeting strategies and how you can navigate these circumstances.

Budgeting 92

Budgeting Article Marketing Book 92

Revenue Hub

NOVEMBER 3, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. Are there ways to make the 2024 budgeting process more streamlined and efficient? Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year.

Budgeting 96

Budgeting Strategic Planning Article Accounting 96

Hotel Business

MAY 3, 2024

Driftwood Capital has acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key, full-service, upper-upscale hotel located in North Carolina’s Research Triangle area. The company will carry out an extensive renovation project to enhance numerous features throughout the hotel. chairman/CEO, Driftwood Capital.

Budgeting 105

Budgeting Marketing 105

Hotelogix

DECEMBER 7, 2023

To be very precise, it has shaped the way guests book their accommodations at hotels. This gives them a better idea of what fits their requirement and budget best. This is the primary reason why as a hotelier, you should know how to select the right OTAs for your hotel. Then this guide is all you need. 

Book 269

Book Budgeting Catering Strategic Planning 269

Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. Without a budget, you risk financial instability and inefficiency.

Budgeting 96

Budgeting Revenue Projections Article Maintenance 96

MEWS

DECEMBER 9, 2022

A food and beverage manager is in charge of overseeing the running of a hotel’s restaurant and bar. They plan, forecast, execute orders and ensure that provisions are made accurately, on budget and to suffice the needs of the hotel until the next order is made.

Budgeting 130

Budgeting 130

Revenue Hub

OCTOBER 2, 2023

In the fast-paced world of hospitality, the saying “failing to plan is planning to fail” is highly significant. NB: This is an article from Demand Calendar Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets.

Budgeting 85

Budgeting Information Article Events 85

Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

Budgeting 101

Budgeting Article Pricing Marketing 101

Hotel Owner

MARCH 25, 2024

Refurbishing a hotel in the UK post-planning permission demands comprehensive planning, meticulous execution, and adept management of various stakeholders. The plan Setting clear objectives is paramount to the success of any refurbishment project.

Budgeting 98

Budgeting Communication Guest Satisfaction Marketing 98

Hospitality Net

SEPTEMBER 21, 2023

A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets.

Budgeting 78

Budgeting Accounting Book Marketing 78

InnQuest

MARCH 9, 2023

As hotels and properties evolve, a more flexible and efficient technology infrastructure becomes increasingly important. This means you can quickly and easily add or remove users, storage, and other resources as your hotel grows or changes. This is particularly useful for hotels that experience fluctuating demand or seasonal changes.

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Server Demo Budgeting Property Management 222

Hospitality Net

SEPTEMBER 5, 2023

As the hotel industry prepares for its annual budget planning for 2024, we’re at a critical moment where technology and financial strategy blend together. This goes beyond simply setting aside funds for new digital tools; it’s about fully integrating technology into our financial and operational plans.

Budgeting 87

Budgeting 87

Hotel Business

NOVEMBER 1, 2023

Intent to travel between Thanksgiving and mid-January is up across all age and income groups with an average holiday budget of $2,725. More than half (56%) of holiday travelers plan to stay in hotels, up from 35% in 2022. transportation, hospitality and services non-attest leader. in 2023 vs. 2.01

Budgeting 116

Budgeting Pricing Book Events 116

Hotel Owner

OCTOBER 17, 2023

The luxury hotel market has been the driving force behind the hotel industry’s recovery this summer, with record room rates and a boost to RevPAR across the UK, according to RSM. The average daily room rates of UK luxury hotels reached a record £400.18 In the same period, rates of middle market hotels were £149.76

Budgeting 98

Budgeting Marketing Pricing 98

Boutique Hotel News

JANUARY 16, 2023

The challenge for hotel teams is to show they have the facilities and technology to handle demand and put their venues at the front of the queue. Rising costs spur budget increases . Eighty-one per cent in total say their budget will rise, including 26 per cent who predict it will increase significantly. Supplier takeaway.

Budgeting 130

Budgeting Download Events Pricing 130

Revenue Hub

NOVEMBER 17, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times. We conduct a lot of due diligence surrounding our competitors.”

Budgeting 94

Budgeting Article Strategic Planning Accounting 94

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Don’t worry, we’ve got you covered!

Budgeting 89

Budgeting Accounting Pricing Article 89

Hotel Business

FEBRUARY 22, 2024

digital marketing professionals list privacy as their top concern regarding the adoption of artificial intelligence (AI) for hotels. SOCi’s commissioned study of more than 300 digital marketers provides further understanding of AI utilization in marketing and future plans for its use.

Budgeting 121

Budgeting Training Marketing Information 121

Hotel Owner

APRIL 18, 2023

UK’s budget hotel chain Travelodge has announced it has resubmitted plans for a new 83-room hotel in Shrewsbury town centre. The proposed exterior facade and elevations have been designed through detailed consultation with the Local Planning Authority, to complement and integrate with the local street scene.

Budgeting 103

Budgeting Accounting 103

SiteMinder

SEPTEMBER 10, 2023

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets.

Budgeting 59

Budgeting Maintenance Front Desk Operations Document 59

Revenue Hub

APRIL 29, 2024

The hotel industry constantly evolves, challenging CEOs to balance a strategic, future-focused mindset and adapt operations in real-time based on current performance. Critical Challenges Future Focus: Hotels must remain vigilant, anticipating market trends, evolving guest expectations, and shifting economic conditions.

Article 89

Article Blog Budgeting Marketing 89

Hotel Owner

JULY 31, 2023

Travelodge, the UK’s first branded budget hotel chain, has announced plans to double its presence in Suffolk amid the opening of its fourth hotel in Ipswich. The group said it is actively looking for a further nine hotel sites in Suffolk which includes a fifth hotel site in Ipswich.

Budgeting 97

Budgeting Events 97

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. In this context, reports are critical as they provide key insights into your hotel's operations, from housekeeping to finance, marketing, and guest preferences.

Housekeeping 148

Housekeeping Reservations Budgeting Book 148

Hotel Business

JUNE 28, 2023

won’t let rising prices stop them, with a majority (77%) planning to dip into their savings this year to travel. consumers are still planning to travel this year. When determining the budget for their trips, 37% are most likely to plan a low budget trip with 47% likely to plan a moderate budget trip.

Budgeting 105

Budgeting Pricing Book Presentation 105

Hospitality Net

APRIL 18, 2024

Even though tourism and travel has nearly recovered since before the pandemic, hotels are still short on labor.

Travel and Tourism 52

Travel and Tourism Budgeting Marketing 52

Hotel Business

MAY 16, 2024

In fact, major hotel chains have begun investing in EV chargers for exactly this reason, with some specifically citing the ongoing concern of “range anxiety” among the four million current EV owners in the U.S.

Budgeting 101

Budgeting Maintenance Business Development Presentation 101

Modern Restaurant Management

JUNE 10, 2020

A pandemic of this magnitude may not have been something they considered when they wrote their crisis management plan. Many may not have even had such a plan. What You Can Do with Your Marketing Budget. Budgeting is a tricky one at this time. Should you cut your marketing budget or keep it the same as it was?

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Marketing Budgeting Blog Book 207

Revenue Hub

JULY 25, 2023

Hotel digital marketing is a highly competitive space. NB: This is an article from Triptease , one of our Expert Partners But getting it right requires hoteliers to budget and manage costs effectively. In this blog, we’ll explore essential steps to help hoteliers optimize costs and budgets in their advertising campaigns.

Budgeting 81

Budgeting Strategic Planning Article Blog 81

Revenue Hub

MARCH 4, 2024

These fabled misconceptions can sour any strategic marketing plan. We’re here to expose the top hotel marketing myths as fact or fantasy. Unfortunately, digital marketing for hotels is not a one-size-fits-all approach, and assuming that “anyone can do it” oversimplifies the complexities involved.

Marketing 98

Marketing Budgeting Maintenance Article 98

Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. In this article, we will use insights from the survey to identify ways hoteliers can make a positive impact in easing traveler budget concerns. Consider the location and views of each room.

Budgeting 85

Budgeting Pricing Article Catering 85

Hotel Owner

MARCH 25, 2024

What’s more, a diverse spa treatment menu is essential for attracting guests that are seeking hotel stays exclusively for their spa facilities. Consider hiring design consultants, architects, and spa experts to assist in the planning phase.

Budgeting 98

Budgeting Training Scheduling Catering 98

Hotel Owner

NOVEMBER 7, 2023

AGO Hotels has called for the government to “protect businesses from economic fragility and demonstrate commitment to the hospitality industry, a huge contributor to the UK economy”, ahead of the Autumn Budget.

Budgeting 98

Budgeting Scheduling 98

Revenue Hub

NOVEMBER 14, 2023

In the second of our series on the budget approval process, we are looking at specific areas to look at which can ease the approval process and ensure a more accurate budget and a profitable following year. Ask for a comparison per hotel department where you will exclude the mandatory pay rise and the bonus effect.

Budgeting 91

Budgeting Events Article Presentation 91

Revenue Hub

FEBRUARY 27, 2024

The hotel industry buzzes with talk of “modern” revenue management, but are we truly innovating? While technology gaps are closing between urban and rural hotels, a crucial question remains: are we simply repackaging old approaches with new labels? Conversely, under-pricing will lead to low rated compression.

Pricing 101

Pricing Budgeting Book Article 101

Hotel Business

MARCH 13, 2023

Hospitality management, acquisition and development company PCH Hotels & Resorts has expanded its services to include third-party hotel management services for additional ownership groups. ” He added, “With a growing number of hotels expected to change hands during 2023, an increased need for superior operators is needed.

Budgeting 105

Budgeting Revenue Projections Guest Services Accounting 105