article thumbnail

Surgical Pricing Strategies: How QSRs Can Navigate Inflation

Modern Restaurant Management

While it’s understandable to believe everything is back to normal – according to our QSR monthly trends, August 2023 traffic was down just half a percent compared to 2022 – the landscape has taken a seismic shift. The data also supports what RMS has been advising: pricing must be strategic.

Pricing 193
article thumbnail

Dynamic Pricing Dilemma: How Close Are Hotels to Perfect Competition?

Revenue Hub

Perfect competition is a term used in economics to describe a market structure where many buyers and sellers interact without any restrictions, and prices reflect the actual supply and demand dynamics. The industry is characterized by its diverse pricing and services and the advanced technological tools used to set those prices.

Pricing 94
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What’s Cooking in the Restaurant Fryers Market?

Modern Restaurant Management

The global restaurant fryers market is projected to grow at a CAGR of 5.6 The market sales are on course to increase from US$ 495.6 Million by 2033, according to Future Market Insights. It is a competitive landscape because restaurant owners navigate in order to select the best fryer for their demands and budget.

Marketing 117
article thumbnail

Maximizing Return on Margins Through Effective Hotel Pricing

Revenue Hub

Pricing is a critical element of a hotel’s revenue management strategy. NB: This is an article from Agilysys The right pricing approach can help hotels optimize profitability, attract the right customer segments, and maximize return on margins. Each segment has distinct needs, booking behaviors, and willingness to pay.

Pricing 92
article thumbnail

Price Oscillation: Unraveling the Pendulum Effect on Hotel Rates

Revenue Hub

NB: This is an article from BEONx , one of our Expert Partners During the last few years, a unique and powerful phenomenon has occurred in this industry market: we have been witnesses of a swing similar to that of a pendulum, not only recovering from the challenging situation of the COVID-19 pandemic, but surpassing unexpected limits.

Pricing 97
article thumbnail

How to Elevate Hotel Revenue and Occupancy with Dynamic Pricing

Revenue Hub

In the ever-evolving landscape of the hospitality industry, innovation and education are the keys to success. NB: This is an article from BEONx , one of our Expert Partners When it comes to maximizing revenue and occupancy rates, dynamic pricing strategies have taken a quantum leap forward.

Pricing 93
article thumbnail

Everything you need to know about marketing your hospitality business

Hospitality Magazine

But it’s also essential to think about the landscape and how it’s evolving. 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.

Marketing 246