Revenue Hub

OCTOBER 23, 2023

Big Data’s Role in Mitigating the Hotel Industry’s Top Three Risks The first and biggest risk is opportunity cost, or leaving money on the table by not accurately pricing inventory – and that can be in either direction. Another risk is conflating channel complexity with pricing complexity.

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Pricing Book Reservations Property Management 82

Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

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Pricing Book Article Events 65

OpenTable

FEBRUARY 21, 2024

Prix fixe vs. à la carte When to offer a prix fixe menu How to create a successful prix fixe menu The benefits of a prix fixe menu Tips for marketing your prix fixe menu What is a prix fixe menu? Prix fixe, a French term for “fixed price,” is a menu offering a complete meal at a set rate.

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Special Events Pricing Events Reservations 52

Hotel Owner

JUNE 29, 2023

Costs, plus the hassles created by industrial action will dissuade many from venturing overseas, thus opening up a large and lucrative market on your doorstep, your challenge, as ever, is how to reach it. Tap into this market through either advertising in related media or through their recreation’s association.

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Special Events Marketing Reservations Communication 105

Revenue Hub

APRIL 11, 2023

The optimal distribution mix for a hotel depends on the hotel’s target market, location, size, and unique selling points. Still, it is one of the most critical decisions hoteliers can make to improve profitability and boost reservations. The potential guest had to call the hotel call center to make a reservation.

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Book Reservations Information Catering 77

eZee Absolute

AUGUST 31, 2022

Be strategic about the pricing. Host a special event. Spread the word through marketing. Offering discounts and packages quickly draw travelers into your hotel, intrigues them to make a reservation, and help you boost occupancy. Be strategic about the pricing. Host a special event.

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Special Events Pricing Events Book 52

Synergy Suite

DECEMBER 7, 2023

Revenue per seat represents the average income generated for each occupied seat within a specified timeframe, offering a nuanced perspective on customer spending patterns and the effectiveness of pricing strategies. Competitive Advantage In a competitive market, a higher revenue per seat can set your restaurant apart.

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POS Systems Pricing Training Reservations 52

SiteMinder

OCTOBER 5, 2023

Comprehensive tools : From managing reservations to enhancing the guest experience, Expedia Partner Central provides a range of tools tailored to the needs of hoteliers. This section lets you adjust room rates, offering flexibility in response to changing demand or special events.

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Competitive Analysis Book Information Property Management 59

SiteMinder

NOVEMBER 30, 2023

Stay on the cutting edge with SiteMinder Automated listing updates, tailored offers, in-depth competitor pricing insights and more, SiteMinder offers users the latest in hotel management technology. Revenue management systems Revenue Management Systems (RMS) employ data analytics to predict demand, optimise pricing, and maximise revenue.

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Guest Satisfaction Book Property Management Pricing 52

7 Shifts

NOVEMBER 9, 2022

When done right, email marketing works wonders—you stay top of mind and increase order values. of customers make a monthly purchase based on marketing emails. But what makes email newsletters such an effective marketing strategy for restaurants? Email newsletters are often the first marketing medium to break the news.

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Reservations Blog Marketing Events 78

Les Roches

DECEMBER 30, 2023

Marketing strategies for products and services in hospitality Oscar Wong/Moment via Getty Images In the hospitality industry, distinct strategies have emerged for managing products or services. Astute marketers have pioneered inventive tactics that leverage both to maximize success in this area.

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Guest Services Concierge Definition Customer Service 95

Synergy Suite

APRIL 11, 2023

The increased visibility helps you tap into new markets and attract a diverse customer base. Marketing and Promotion Back in the 1990’s Bill Gates stated: “If your business is not on the Internet, then your business will be out of business”. Consider that your website is the home base for your marketing and promotional efforts.

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POS Systems Reservations Information Definition 52

Synergy Suite

OCTOBER 5, 2023

This could include renting out space or property to other businesses or for events, any sort of income generated from membership or loyalty programs, income generated from partnerships or joint promotions, or income from catering services that are above and beyond the price of just the food.

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Catering Information Events Labor Cost Controls 52

Lithos POS

DECEMBER 19, 2023

His duties include executing marketing strategies, recruitment, and hiring, ensuring food quality, staff training, and maintaining effective communication between the administrative team, kitchen staff, and front-of-house employees. Effective Marketing Restaurant businesses are one of the competitive industries.

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Front of House Scheduling Communication Bookkeeping 52

eZee Absolute

MAY 7, 2024

It starts with setting prices but grows into a clever mix of data, technology, and understanding what your guests want. Revenue management is about more than just the right pricing. It’s about knowing your guests and setting the right price to fill your hotel. Claire transformed traditional pricing into a dynamic art form.

Pricing 52

Pricing Book Marketing Events 52

SiteMinder

AUGUST 29, 2023

Hotel operating costs Hotel operating costs encompass a wide array of expenses, from staff salaries, utility bills, and maintenance to marketing, guest amenities, and food & beverage supplies. Reduce your hotel’s marketing costs Paid promotion isn’t always guaranteed to garner more results.

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Housekeeping Guest Satisfaction Book Maintenance 52

SiteMinder

OCTOBER 10, 2023

The result gives hotel managers an idea of how many rooms they can still sell, allowing them to make informed decisions about pricing, promotions, and distribution. The importance of forecasting in the hotel industry You need to use forecasting at your hotel to inform your pricing and revenue strategies.

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Book Pricing Reservations Accounting 52

SiteMinder

DECEMBER 7, 2023

Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. This process requires continuous analysis of market trends, booking patterns, and competitor strategies. It’s not just about setting the right price, but also about adjusting it in response to market changes.

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Pricing Book Marketing Events 59

Revenue Hub

OCTOBER 17, 2023

The focus is on variable demand tied to market crises, short term booking windows, which are focused on guest spend and dynamic optimization embracing rate flexibility. Where was the value for the price paid? Customer demand: guests who are willing to pay different prices.

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Pricing Marketing Training Book 97

Synergy Suite

NOVEMBER 2, 2023

Monitor overtime expenses and the use of additional labor resources during peak times or special events. By staying proactive with regular wage analysis, restaurants can make informed decisions about menu pricing adjustments and operational efficiencies to counterbalance the impact of rising labor costs.

Scheduling 52

Scheduling Training Information Cost Reduction 52

Modern Restaurant Management

JANUARY 26, 2022

On Valentine’s Day, restaurants fill up quickly with reservations from couples eager to spend a romantic night together. Holidays provide restaurants with the opportunity to capitalize on the special moment by offering specials, events, and so much more exclusive to the holiday. Create a Prix Fixe Menu.

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Events Special Events Definition Catering 225

Revenue Hub

OCTOBER 28, 2022

NB: This is an article from RealTime Reservation. Develop innovative packages, such as girls day by the pool, special occasion, bachelor, or bachelorette packages. Most importantly, empower the guest to personalize and reserve in advance. Subscribe to our weekly newsletter and stay up to date. Stock suntan lotions and drinks.

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Reservations Book Catering Special Events 74

Revenue Hub

AUGUST 22, 2023

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. Retailers have been using a technique called market basket analysis for many years to increase sales and capture more revenue by better understanding customer purchasing patterns.

Special Events 72

Special Events Book Information Reservations 72

Revenue Hub

OCTOBER 28, 2022

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. Retailers have been using a technique called market basket analysis for many years to increase sales and capture more revenue by better understanding customer purchasing patterns.

Special Events 77

Special Events Book Information Reservations 77