Revenue Hub

APRIL 11, 2023

Most importantly, AI takes the guesswork out of pricing. Why Are Hoteliers Still Playing a Game of The Price is Right? Today, companies like Amazon change prices every few minutes to offer the most competitive prices. This data aggregation scope is simply impossible for hotels relying on legacy pricing strategies.

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Modern Restaurant Management

MAY 21, 2024

While three in four survey respondents believe restaurant prices are higher, other factors, such as flavor, outweigh price when ordering specialty beverages, particularly in the full-service segment. During a time of increased price sensitivity, beverages create an opportunity to increase the total check.

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MEWS

JUNE 7, 2024

By playing around with dynamic inventory – tailoring room presentation and pricing to different audiences and sales channels – hotels can truly revolutionize their operations.

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Modern Restaurant Management

APRIL 26, 2021

Many in the industry are already considering growth and seeking to add locations due more available space at an affordable price. The unfortunate amount of closures could actually cause the survivors to thrive. What has the pandemic changed?

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Hotel Owner

NOVEMBER 7, 2022

The Dunstane Houses, a luxury flagship five-star boutique hotel in Edinburgh, has been sold for an undisclosed price off a guide price of £7.5m. Live sales are generating strong interest, but price the of debt will challenge higher lot sizes. ”.

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Hospitality Net

MAY 22, 2024

Determining the current selling or asking price for a hotel is a bit tricky. Compared to estimating the present value of a house it’s more like a detailed math exercise rather than a google search on Redfin. That’s what this piece is all about, how you can estimate the value, AKA sales price.

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Hospitality Magazine

MAY 13, 2024

Thai milk tea panna cotta and a coconut chocolate mousse are both priced at $10 for those wanting to end lunch on a sweet note. “We have thoughtfully reimagined the flavours, techniques, and presentation of Longrain classics that guests know and love without compromising on quality and authenticity.”

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The Restaurant Times

NOVEMBER 8, 2021

You need to carefully price your restaurant menu to make it to the top and earn as much as possible. While it’s understandable that you want to make a profit, being overly aggressive with your menu pricing can drive the customer away. It is about the right balance when applying your pricing strategies. .

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Modern Restaurant Management

MARCH 21, 2024

While we do expect 2024 to present challenges, we are optimistic about the overall economy and the role of U.S. However, a tight labor market and stubbornly high food prices will continue to weigh on restaurant margins in 2024. This means lower interest rates for businesses financing inventory and investing in expansion.

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Modern Restaurant Management

MARCH 12, 2024

To reduce menu confusion and minimize price sensitivity, Ori’Zaba’s Scratch Mexican Grill recently rolled-out a rengineered and easier-to-read menu. The Ori’Zaba team told Modern Restaurant Management (MRM) magazine they watched people walk in and have a physical reaction to the three pricing tiers. Double Your Meat!”

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Revenue Hub

JUNE 10, 2024

You can price the subscription plans based on your location, the amenities you offer and a handful of other key factors. But don’t be fixated on a price, remember flexibility is the key. Guests research, compare prices and book a room for a specific duration.

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Revenue Hub

FEBRUARY 9, 2024

It’s a unique opportunity to examine the hotel pricing trends and patterns emerging in the run-up to the Games. This early interest underscores the importance of the Games and the opportunities they present. Paris hotel room prices surge during the Olympics In our previous post , we noted little movement in the luxury segment.

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Horizon Hospitality

FEBRUARY 19, 2024

Between the rise in unreliable third-party to-go orders and a recent wave of price increases, there has been an increase in nasty reviews online. Find out which staff members were present and get the rundown of the encounter from them. Even if you were present, you would still want to get multiple points of view of the situation.

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InnQuest

APRIL 5, 2023

Yield management, also known as revenue management, is a strategy hotels use to optimize their revenue by adjusting prices and inventory according to consumer demand. Yield management is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue. And that’s where yield management comes in.

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Revenue Hub

DECEMBER 1, 2023

NB: This is an article from APS (Above Property Services) Subscribe to our weekly newsletter and stay up to date In response to these challenges, the industry is turning towards innovative pricing strategies, with Attribute-Based Selling (ABS) (also known as Attribute-based Pricing) emerging as a notable trend.

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Modern Restaurant Management

FEBRUARY 13, 2024

Where franchisors can miss an important opportunity is in the presentation of the financial information. Franchisors should carefully evaluate both the data being disclosed for the upcoming year and the format in which it is presented, asking questions like: How many years’ worth of data is relevant for the prospective franchisee?

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Modern Restaurant Management

FEBRUARY 26, 2024

Payment processing pricing structures often used by restaurants allow providers to layer their processing fees on top of other underlying debit and credit card fees. Payment processing can be complicated, but with the right partner and pricing structure such as flat rate, interchange plus, or tiered, unnecessary costs can be eliminated.

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Hospitality Magazine

APRIL 17, 2024

Smart inventory and order management It’s tied to the POS for sales information and should be connected to your suppliers, who keep you informed on what’s out of stock snd price movements. Deep dive into the numbers Everyone feels smarter when numbers are presented in a way that’s easy to understand. Less waste and less stock holding.

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STAAH

APRIL 23, 2024

Using technology like cloud platforms and integrated systems like STAAH Channel Manager improves revenue management efficiency , helping with pricing, inventory, and distribution processes to increase profits. Data Visualization and Big Data Analytics The abundance of data available to hoteliers presents both opportunities and challenges.

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MBB Hospitality

NOVEMBER 23, 2019

Now that you’ve decided to open up your restaurant, you’ll have to determine pricing for all the delicious items you’ll sell to patrons. The right menu pricing strategy is essential for attracting customers and establishing a reliable client base. Pricing Based On Competition. Not Informing Staff About Marketing Efforts.

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Boutique Hotel News

NOVEMBER 16, 2022

Whilst the transaction value has not been disclosed, Dunstane Houses were marketed by Savills Scotland at a guide price of £7.5

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Lodging Magazine

JUNE 12, 2023

After hitting record lows during early points of the pandemic, last year finally presented long-awaited profitability returns for the U.S. Strong demand, coupled with strong pricing power in an inflationary environment, pushed revenues and profits beyond 2019 levels. hotel industry.

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Hotel Owner

JANUARY 18, 2024

The guide price for this asset is £2.8m. Located across the road from Kendal railway station, the hotel presents well having been recently refurbished. The guide price for this asset is £1.8m. The guide price for this asset is £1.9m. The hotel also benefits from an indoor swimming pool, sauna and games room.

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Revenue Hub

JANUARY 25, 2024

Concerns over Price and Additional Services A significant number of negative reviews were related to price concerns. There were 694 negative mentions about “price,” with a staggering 95.4% This feedback indicates that guests, already paying high amounts for rooms, feel that the high prices for incidentals are excessive.

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Revenue Hub

JUNE 26, 2023

While peak seasons present new revenue opportunities, off-peak seasons are characterized by the challenges they pose for the revenue managers. Revenue Opportunities in Peak Seasons During peak seasons, hotels have the opportunity to maximize revenue through strategic pricing and yield management.

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Modern Restaurant Management

APRIL 23, 2024

The July 1 increase updates the present annual salary threshold of $35,568 based on the methodology used by the prior administration in the 2019 overtime rule update. 1, 2025, the rule’s new methodology takes effect, resulting in the additional increase.

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Boutique Hotel News

APRIL 21, 2023

“AI can help analyse data in real time and factor in a wide range of variables such as occupancy rates, weather, time of year, the impact of major events and more – and adjust prices accordingly to maximise occupancy rates,” explained Kim.

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Hospitality Net

NOVEMBER 30, 2023

The Q4 report, dedicated to presenting an outlook for 2024, provides travel managers and buyers with insights on economic prospects, key risks, projected prices for air, hotel and car rental, sustainable travel trends, and more.

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InnQuest

OCTOBER 3, 2023

Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. This ensures that guests are always presented with accurate information, reducing the likelihood of overbooking or reservation errors.

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Revenue Hub

JANUARY 31, 2023

This is intended to partially offset the additional costs caused by the increased prices and pass them directly to the guests. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable. The guest pays the same price for the room as he did a month ago.

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Hotel Owner

SEPTEMBER 8, 2023

The Rollason Wood Hotel in Birmingham is for sale for a guide price of £2.2m. The 11,000 sq ft hotel features 38 bedrooms of varying sizes, as well as several spacious communal areas including a lounge, bar, and dining area. The hotel is located in the north east of the city meaning it is within easy access to Birmingham’s city centre.

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Revenue Hub

JANUARY 9, 2024

According to Trootech, the present AI market stand October 2023 is worth over 300 billion EUR, and AI has become the number one priority for 83% of businesses around the globe. Revenue managers would use spreadsheets and basic forecasting tools to make pricing decisions, often overlooking the complexity of the market dynamics.

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Modern Restaurant Management

JANUARY 15, 2024

Is inflation still driving wing prices? The price of many staple items is continuing to increase throughout the beginning of this year. The Super Bowl is one day, however, the increased traffic flow from dine-in and carry-out presents a huge opportunity to increase repeat business in the preceding weeks.

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Modern Restaurant Management

AUGUST 3, 2022

Restaurants are presenting a value message to connect with potential guests concerned with rising costs and inflation. “Restaurant operators and manufacturers can win in this environment by differentiating value, understanding that value doesn't always translate to the lowest price,” he advises.

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STAAH

JUNE 4, 2024

It serves as a virtual storefront, enabling visitors to browse available accommodations, check prices, and complete bookings without third-party involvement. Essentially, it’s the digital gateway that connects potential guests with a hotel’s inventory in real-time. How Does a Hotel Booking Engine Work?

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Hotel Owner

APRIL 24, 2024

Slieve Russell Hotel Golf and Country Club has been brought to market by CBRE, and is expected to be acquired for a price in the region of €35m (£30m). Paul Collins, head of CBRE Hotels Ireland, said: “The unique opportunity to acquire one of Ireland’s best known and highly profitable resort hotels rarely presents itself.

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Hotel Owner

MAY 22, 2024

Duncan White, director, Fund Management at Patrizia, added: “We are really pleased to have found another strong re-priced core investment opportunity for one of our UK institutional clients. “The We hope to acquire similar attractive re-priced core opportunities throughout the remainder of 2024 and beyond.”

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