Hospitality Net

APRIL 18, 2024

But the growth rate has started to decline as the market stabilizes. Cheaper hotels gained from market fatigue, with midscale properties having three times the ADR growth than higher-priced hotels in Q4. Manhattan hotels have seen an increase in occupancy, average daily rate (ADR) and revenue per available room.

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Hotel Business

APRIL 29, 2024

Ashford Hospitality Trust Inc. The sale price represented a 6% capitalization rate on trailing 12-month net operating income through March. All of the net proceeds from the sale will be used for general corporate purposes including paying down the company’s strategic financing. million ($95,300 per key).

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Pricing Marketing 69

Hospitality Net

OCTOBER 29, 2023

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.

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Pricing Definition Marketing 67

Hotel Business

MAY 3, 2024

Global occupancy moved up to 62% and ADR increased by a further 2% as pricing remained robust, reflecting the complete return of leisure, business and group travel.” increase YOY adjusting for Iberostar Net system size grew 3.4% YOY and is flat YTD; adjusting for Iberostar, net system size is up 3.2% YOY, with U.S.

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Hotel Owner

MARCH 7, 2023

Trade body UKHospitality has recently called on gas and electricity regulator Ofgem to intervene in the non-domestic energy market as businesses struggle with costs and a looming reduction in government support.

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Pricing Marketing 110

Hotel Business

JANUARY 12, 2024

JRK Property Holdings , through its $350-million hospitality fund, has acquired a two-property, 275-key Hyatt-branded hotel portfolio in San Juan, Puerto Rico, from the PRISA Group for an undisclosed price. JRK’s Hospitality Fund focuses on full- and select-service hotels for opportunistic and value-add investments.

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Hotel Owner

JANUARY 11, 2024

Whitbread, the hospitality group, reported an 11% increase in UK Premier Inn accommodation sales during the third quarter of FY24, compared to the same period in the previous year. The Radisson Collection brand made several market debuts, including openings in India, Nigeria, Egypt, and Lithuania.

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Pricing Marketing 94

Hotel Owner

OCTOBER 20, 2022

Britain’s hospitality sector saw a net decline of one closure every hour in the third quarter of 2022, including hotels, pubs, bars, restaurants and cafes, according to the latest Hospitality Market Monitor from CGA and AlixPartners. High street, suburban and rural locations all recorded the same net decline of 2.1%

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Pricing Marketing 105

Hotel Owner

OCTOBER 17, 2023

The UK’s luxury hotel market has been driving the hotel industry’s recovery, with record room rates and revenue per available room (RevPAR) increasing , according to RSM’s Hotels Tracker. While occupancy levels still lag behind pre-pandemic levels, many consumers are opting for budget hotels, squeezing middle-market options.

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Hospitality Net

MARCH 6, 2024

Current trends indicate that the industry is reporting a decline in many markets for leisure travel (Thursday – Saturday as many consumers are getting out priced in the market), while group travel remains strong as Milwaukee will experience in 2024; with a slight increase in corporate bookings (Monday – Wednesday travel).

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Hospitality Net

OCTOBER 18, 2023

Founded with the mission to provide long‐stay guests with a home away from home, Brera Apartments has consistently delivered high‐quality stays for business travellers, new job holders, and relocators.

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Pricing Marketing 79

InnQuest

AUGUST 3, 2023

In the hospitality industry, guest satisfaction is the ultimate goal. To ensure continuous improvement and success, hospitality businesses must adopt effective methods to measure guest satisfaction. The bottom line benefits of guest satisfaction in hospitality industry are customers’ recommendations and repeat business.

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Hospitality Net

APRIL 10, 2024

The significant increase was primarily driven by The Westin Paris transaction, making up 40% of the total volume, with a price per key exceeding €1.5 In 2023, the hotel transaction volume in Greater Paris reached €1.7 Billion, marking a 27% rise from 2022.

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Marketing Pricing 59

Modern Restaurant Management

APRIL 24, 2023

You know exactly how many people you’re going to serve, how many portions will be provided, what the cost is, what you’re going to charge and what your net profit will be. Just like everything else in hospitality, there are guidelines that make for more successful outcomes. And you’re getting them for free!).

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Social Hospitality

FEBRUARY 13, 2024

Have you heard of unhinged marketing? Therefore, it’s crucial to treat unhinged marketing with caution and strategy. Here’s what you need to know about unhinged marketing, as well as success stories and what happens when things go wrong. What is Unhinged Marketing? Tailor your message to their vibe.

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Hospitality Net

NOVEMBER 9, 2023

Luxury has always been associated with high-end brands and products, with marketers utilizing this association to promote their offerings effectively. Luxury is not just about price tags and exclusivity, but an intricate web of storytelling, consumer psychology, and brand identity.

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Hospitality Net

MAY 2, 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.

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Marketing Pricing 54

Hotel Owner

FEBRUARY 8, 2024

A response from the hospitality body comes as the Department for Energy Security and Net Zero proposed to expand access to the Energy Ombudsman and Ofgem to widen the Complaints Handling Standards. As currently proposed, thousands of hospitality businesses would be unable to feel the benefit.

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Definition Pricing Marketing 52

Revenue Hub

JULY 17, 2023

Source What else is happening in the tourism and hospitality industries? Ramp up of events Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, has recently reported that June meeting and event volume is up 30.3%

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Hotel Owner

NOVEMBER 3, 2023

Net income for the quarter was $68m (£55.6m), compared to $28m (£22.9m) in the previous year. Bonsor, a 10-year veteran of Rosewood Hotels and Resorts, will lead the hotel’s operations and leverage his extensive hospitality expertise. increase in Revenue per Available Room (RevPAR).

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Pricing Marketing 97

Modern Restaurant Management

JANUARY 8, 2024

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. – Corin Camenisch, Product Marketing Lead at SumUp 1 + 0 = 3: The New Math of Marketing!

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Hospitality Net

MARCH 29, 2024

In this blog post, we dive down even deeper than before into how the Taylor Swift phenomenon can shift the dynamics of a local market like no other music star; why smaller markets are seeing triple-digit boosts to posted rates, and how events of this scale interact with local accommodation supply.

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Pricing Blog Events Marketing 52

Revenue Hub

NOVEMBER 7, 2023

NB: This is an article from Smartpricing Subscribe to our weekly newsletter and stay up to date Understanding Historical Data and Its Impact on Revenue Strategy At the heart of a thriving hospitality enterprise lies a treasure trove of data − your historical performance records. Why should you care about historical data?

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Revenue Hub

NOVEMBER 30, 2022

Distribution strategy in the hospitality industry is changing. Hoteliers are becoming more selective in how they think about managing channels, focusing on the value of partnership and net key performance indicator performance. NB: This is an article from IDeaS. Subscribe to our weekly newsletter and stay up to date.

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Reservations Pricing Book Accounting 83

Hotel Owner

JANUARY 25, 2024

Hilton reports a record-breaking development quarter, opening 132 hotels and around 24,000 rooms in Q4 2023 , contributing to a full-year total of 395 hotels and 63,000 rooms, achieving a net unit growth of 4.9%. The strong results prompt confidence in achieving a net unit growth of 5.5%

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Travel and Tourism Book Pricing Marketing 52

Modern Restaurant Management

SEPTEMBER 10, 2021

Put simply, now that America is finally able to dine-in, there’s a frenzy on the business end to net as many customers as possible — but it’s easier said than done. Because the technology is so new, there’s room for improvement with regards to implementation, installation and pricing.

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Hotel Owner

NOVEMBER 24, 2022

As I write this article, I’m pretty confident that never before have we seen so many relatively complex issues converging to create the current trading climate for those leading, owning or working in the hotel or hospitality business. How we price, sell and distribute our product is ever more complicated in the current climate.

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Presentation Pricing Marketing Article 104

Larry Mogelonsky

FEBRUARY 12, 2024

Can you measure its direct effect on net contribution? While the two of us are tremendous fans of helping a hotel evolve into a more data-driven organization, there is nevertheless an art to creating a successful hospitality operation. What’s it cost? Namely, we are wine nuts, so let’s start there.

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Hotel Business

MARCH 13, 2024

By Jared Lerner In the competitive landscape of the hospitality industry, hotels are constantly seeking innovative ways to optimize their operations, increase revenue and enhance guest satisfaction. Microstays also provide hotels with an opportunity to connect with budget-conscious travelers who may be priced out of their rooms otherwise.

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Hotel Business

JUNE 22, 2023

At this month’s 45th Annual NYU International Hospitality Industry Investment Conference , NYU School of Professional Studies Jonathan M. Tisch Center of Hospitalit y and Ernst & Young LLP presented findings from the NYU and EY 2023 Hospitality Executive Financial Survey. Labor shortage 2.

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Hotel Business

AUGUST 2, 2023

DiamondRock Hospitality Company has acquired the fee-simple interest in the Chico Hot Springs Resort, a lifestyle resort in Paradise Valley, MT, near Yellowstone National Park. The purchase price for the resort and adjacent ranch is $33 million. The $27-million purchase price for the 117-room, 153-acre resort represents an 8.1%

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Pricing Marketing 52

Hotel Owner

OCTOBER 21, 2022

Due to the dynamic nature of the hospitality industry, data collection and analysis can often be pushed to the side, leaving management unsure of their property’s performance. Why are KPIs & data analytics important in the hospitality industry? . The average daily rate (ADR) is the average price your guests pay for a room.

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Hospitality Net

FEBRUARY 7, 2024

Anticipations for international travel in 2024 are predominantly optimistic in key long-haul markets for Europe. However, travellers display greater reluctance to visit Europe in the initial four months of the year.

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Pricing Marketing 54

Hotel Business

MAY 4, 2023

. “We raised our full-year RevPAR outlook while maintaining our record level pipeline and industry-leading net rooms growth. ” First-quarter highlights Net income was $58 million in the first quarter of 2023 compared to net loss of $73 million in the first quarter of 2022. .” in the first quarter of 2023.

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Accounting Pricing Book Marketing 59

Hospitality Net

APRIL 17, 2023

You expect to have several options to choose from and you’re trying to find the best option that fits exactly what you need, at the best price. Let’s say you go to your favorite online store to buy something new.

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Marketing Pricing 83

The Restaurant Times

MARCH 6, 2023

It is well known that the hospitality sector has lower profit margins than other market segments. In fact, according to reports , the net profit margins across the restaurant industry decreased from 16% in Q2 2021 to 9.59% in Q2 2022. The gross profit margin is left over after subtracting the cost of the goods sold.

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Boutique Hotel News

JANUARY 27, 2023

After a topsy-turvy 2022, here are the major hospitality and real estate trends we expect to see in the year ahead, some more unexpected than others. The tax is introduced alongside a green incentive to motivate project teams to implement sustainability efforts exceeding market standards and secure above average sustainability certifications.

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