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.

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Budgeting Revenue Projections Article Maintenance 92

Boutique Hotel News

JANUARY 4, 2023

India: The proposed initial public offering [IPO] for Indian hospitality chain OYO is set to be delayed once again after the national capital markets regulator asked its parent company to refile its draft IPO papers with certain updates. The post OYO IPO set for further delay in 2023 appeared first on Boutique Hotel News. billion IPO.

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Document Pricing Marketing 130

Boutique Hotel News

JUNE 28, 2023

This transaction, a result of an exhaustive review of various alternatives, not only fortifies our financial standing as we work towards cash flow positivity and profitability, but also endorses our strategic goals and potential to create value for our shareholders. “As Our commitment to our unique hospitality model remains strong.

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Hospitality Net

MAY 11, 2023

Later this month, Hospitality Financial and Technology Professionals (HFTP®) is featuring Laura Lee Blake, president and CEO of the Asian American Hotel Owners Association (AAHOA), for an HFTP Virtual Education webinar: “U.S. Legislative Updates from AAHOA.” The webinar is scheduled for May 23 at 1:00 p.m.

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Scheduling 98

InnQuest

SEPTEMBER 5, 2023

At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? Let’s get started! Inventory here includes food, beverages, and kitchen equipment.

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Guest Satisfaction Maintenance Pricing Book 218

Lodging Magazine

NOVEMBER 21, 2023

PARSIPPANY, New Jersey—Wyndham Hotels & Resorts announced that its Board of Directors received a letter from Choice Hotels International, Inc. Wyndham responded to Choice in a letter dated November 21, 2023, […] The post Wyndham Discloses Updates on Choice Proposal appeared first on LODGING Magazine.

Magazine 64

Magazine 64

Revenue Hub

APRIL 24, 2023

NB: This is an article from Demand Calendar Of course, no specific percentage or amount represents the average revenue leak for the hotel industry, as it varies depending on factors like location, property size, and management efficiency. The hotel needs an RMS or a dynamic pricing tool integrated with the hotel PMS to minimize revenue leaks.

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Reservations Guest Satisfaction Pricing Article 87

Horizon Hospitality

JULY 31, 2023

Travel demand is surging, yet hotels are handling more dissatisfied guests than ever before. One of the most important amenities factored into travelers’ hotel selections is the quality and availability of free Wi-Fi. What’s causing the trend? The biggest concern guests have is the value they receive for the price.

Pricing 130

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. The company projects RevPAR indexes and competitive dynamics at each hotel such as a renovation, change in management, or new offering, he said. “We

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Budgeting Article Strategic Planning Accounting 89

Finance & Development : Lodging Magazine

AUGUST 4, 2023

CHICAGO—Hyatt Hotels Corporation reported second-quarter 2023 financial results. We updated our full-year RevPAR outlook, and we expanded our pipeline to 119,000 rooms, representing approximately 40 percent of our existing portfolio. Highlights include: Mark S.

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Magazine 52

STAAH

FEBRUARY 27, 2024

For hotels leveraging Opera OXI and STAAH , this comprehensive guide serves as your roadmap to a successful integration journey. Discuss licensing, installation, and maintenance fees to ensure financial clarity. Collaborate with Oracle Hospitality project coordinators for seamless communication between your hotel, Opera OXI, and STAAH.

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Maintenance Communication Document Accounting 85

Revenue Hub

NOVEMBER 1, 2023

So, how much does it cost to acquire a booking at your hotel? What is GAC (Guest Acquisition Cost) Guest Acquisition Cost (GAC) is a metric to measure the total cost your hotel incurs to attract, convert, and accommodate a new guest. At first, this seems to be a straightforward metric.

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Article Marketing Information Book 95

Hotel Owner

SEPTEMBER 27, 2023

PPHE hotel group has provided an update on its capital returns policy and announced the payment of an interim dividend of 16 pence per share, a year-on-year increase of 13 pence per share.

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Revenue Hub

APRIL 25, 2023

NB: This is an article from M3 Automated processes promote hoteliers to build financial and operational success within hotels that are necessary to remain competitive in the market. Having automated coding provides an accurate picture of your hotel’s financial health and helps immensely with multi-property portfolios.

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Article Information Property Management Accounting 92

Boutique Hotel News

MARCH 31, 2023

Among the changes were OYO global COO Abhinav Sinha taking up the combined role of chief product and technology officer and the upcoming scheduled departure of CTO Ankit Mathuria in June, while Mandar Vaidya, CEO of OYO Europe and OYO Vacation Homes , will take up an additional role in leading the company’s premium hotel asset portfolio.

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Document Scheduling Marketing 130

Hotel Owner

MARCH 15, 2023

In today’s thriving hospitality industry, launching a successful hotel business can be both rewarding and profitable. In this comprehensive guide, we’ll cover the crucial steps to start your hotel business journey and achieve success. Financial Projections Estimate your hotel’s costs, revenue, and potential profit.

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Book Housekeeping Marketing Training 105

Revenue Hub

JANUARY 29, 2024

It can put a strain on resources and even affect guests staying at your hotel. Although some hotels use overbooking to maximize revenue, it can certainly backfire. Regular inventory management You should regularly update inventory across all channels – if you forget one channel, you put yourself at risk of overbooking.

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Book Article Training Marketing 83

Revenue Hub

OCTOBER 18, 2023

As is known, overbooking can be a delicate issue for hotels, as it causes disgruntled guests who are unable to check into their rooms. That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels.

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Reservations Guest Satisfaction Book Article 87

Hotel Business

SEPTEMBER 12, 2023

Crestline Hotels & Resorts LLC has been selected to manage the Ohio University Inn and Conference Center. The 139-room hotel is located on the campus of Ohio University in Athens, Ohio. The hotel’s recently updated guestrooms and suites are complemented with 4,500 sq.

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Events 64

Hotel Owner

OCTOBER 24, 2022

Global Asset Solutions has launched an online training course with external accreditation which will aim to support the growing demand for hotel asset management. By the end of the program, students will reportedly have “all the information they need to make strategic decisions, easily understand financial statements (i.e.,

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Budgeting Training Information Marketing 136

Hotelogix

NOVEMBER 13, 2023

The hospitality industry is well acquainted with the concept of hotel overbooking. Although it is a  common practice in hotel management, it has been a matter of debate particularly because of the complications it brings during peak hours. However, in cases of last-minute cancellations, your profit is badly impacted.

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Book Reservations Training Customer Service 147

Revenue Hub

SEPTEMBER 11, 2023

In the ever-evolving hospitality industry, effective inventory management is a critical aspect of running a successful hotel. NB: This is an article from innQuest Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Let’s get started!

Pricing 101

Pricing Guest Satisfaction Article Book 101

Revenue Hub

MARCH 5, 2024

Despite its fast pace, the hospitality industry has a reputation for resisting change when updating platforms and processes. Many hotels continue to rely on outdated legacy systems that may have served them well in the past but now pose serious limitations on their revenue potential. These concerns are all valid.

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Maintenance POS Systems Book Article 95

Hotel Business

JANUARY 30, 2024

Actabl , a hospitality software company dedicated to empowering hotels with actionable insights to drive profit, has partnered with Avalara Inc., We are in the business of owning that forecasting and budget motion for each property,” Jason Luo, chief revenue officer, Actabl, told Hotel Business in an interview at ALIS. “We

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Budgeting Back of House Marketing 64

Hotel Owner

JANUARY 9, 2023

Today’s hotel owners and general managers (GMs) face numerous challenges, each of which causes a huge impact on your profitability. . It empowers hotel owners to play a central role in protecting, forecasting, and strengthening a hotel’s cash flow and overall financial position by enhancing the cash position of the asset.

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Pricing Download Events Property Management 105

eZee Absolute

JUNE 26, 2023

In recent years, the Government of India has been fixating on digital India and lately has introduced e-invoicing for hotels and other businesses. But before jumping to the latest update in the e-invoicing integration, let’s have a quick look at what e-invoicing is. Want to know more about GST for hotels?

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Accounting Presentation Information Events 52

eZee Absolute

JANUARY 9, 2024

Whenever I am asked what I love about modern-day businesses, the first thing that comes to my mind is cashless transactions, especially hotel payment processing solutions. And, I cannot possibly emphasize enough the importance of cashless payments for hotels and restaurants. Yes, you heard me right.

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Budgeting Training Information Communication 59

eZee Absolute

DECEMBER 11, 2023

Imagine you have 25 rooms to manage in your bustling hotel. Now, imagine the chaos if you had to manually keep track of bookings, room availability, and rates across all the online platforms your hotel is listed on. Well, that’s where your trusty sidekick in this digital world comes in – the hotel channel manager. But fear not!

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Book Pricing Information Training 59

Revenue Hub

OCTOBER 12, 2023

Hi, welcome to another Coffee Time Chat Today we are joined by Dr Don from Strategic Solution Partners , one of our Expert Partners As is customary when we have Dr Don joins us, we love to delve into his wealth of knowledge, and financial expertise, to hear his views on the current state of the hotel industry.

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Pricing Reservations Marketing Book 96

Revenue Hub

OCTOBER 3, 2023

Visibility is the goal of any hotel. What hotel on earth does not want all that? financial cost. At the end of the day, Booking.com knows few hotels will set restrictions and, those that do, will eventually forget keeping it updated making these limits eventually without effect. It sounds like a perfect match.

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Book Reservations Article Accounting 95

Revenue Hub

NOVEMBER 1, 2023

An RMS is for every type and size of property because they are proven to have huge financial benefits for properties with as few as 10 rooms! Did you know that, on average, hotels using automated pricing solutions experience a 22% increase in revenue and a 4% increase in ADR? What could you do with those 10 extra hours per week?

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Pricing Budgeting Reservations Article 85

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. It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services.

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Budgeting Maintenance Front Desk Operations Document 59

Modern Restaurant Management

MAY 20, 2020

Beyond the current operational and financial issues plaguing the hospitality industry lies a very difficult reality. Food & Drug Administration (FDA) has updated and released a best practice guide focused on food and beverage service during the COVID-19 pandemic. Restaurants and hospitality venues remain closed throughout the U.S.

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Sanitation Accounting Presentation Marketing 203

Larry Mogelonsky

OCTOBER 18, 2023

As the Vice President of Hotel Operations at Resorts World Las Vegas (RWLV) – which opened in June 2021 as the newest and most technologically advanced casino resort on The Strip – she is responsible for a vast team and even greater number of guests. Working in hotels and taking care of people came naturally to me…it never felt like work!

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Presentation Resort Management Events 100

Mary Gostelow

FEBRUARY 26, 2023

One does, however, find every conceivable bit of paintwork in bedrooms somewhere or other – and what hotel does NOT have art these days? Some hotels, indeed, have buildings designed and constructed specifically to hold a collection of art. And then there are hotels that used pop-ups as magnificent marketing tools.

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Marketing 52

SiteMinder

SEPTEMBER 25, 2022

A hotel organisation chart can be a powerful tool for hoteliers at any stage of business, providing the clarity and structure for better decision-making and empowering people across the organisation to do their best work. Here, we cover everything you need to know about creating and using a hotel organisation chart – with examples provided.

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Communication Information Document Training 73

Hotel Owner

MARCH 10, 2023

No matter where your hotel is located or where its headquarters are, if it provides goods or services to customers making reservations from the EU or if it requests personal data from EU residents—including emails, mailing addresses, names, and financial information—it must adhere to the GDPR.

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Training Server Information Reservations 52