Modern Restaurant Management

APRIL 22, 2024

Fast food restaurants are all about convenience with the latest step in providing convenience for guests being the welcoming of digital payments and corresponding loyalty apps. How can loyalty programs be improved to better prevent fraud? How can loyalty programs be improved to better prevent fraud? more likely to be targeted.

Accounting 203

Accounting Training Pricing Magazine 203

Revenue Hub

MARCH 18, 2024

Discount pricing is a strategy in which you offer your hotel rooms at a lower price to draw guests, boost demand, increase sales volume, or decrease perishable inventory. This pricing strategy can be applied temporarily for promotional purposes or over an extended period to help position your hotel.

Pricing 102

Pricing Article Marketing Book 102

Modern Restaurant Management

APRIL 25, 2022

Don’t worry, if you are searching for the best way to attract and retain more and more customers, then you must try implementing a loyalty program. With proper loyalty program management, you will be able to improve your sales as well as customer engagement. Key Benefits of Loyalty Reward Programs.

Program Management 218

Program Management Pricing Events Marketing 218

Revenue Hub

APRIL 4, 2024

The loyalty programs of the largest hotel brands in the world, such as Marriott, Hyatt and Hilton, all share a common functionality: “book & join” or the ability to join the loyalty program while making the first reservation and without diverting to a different funnel where there is a greater chance that your guest will drop out.

Book 97

Book Pricing Article Reservations 97

STAAH

MAY 7, 2024

Dynamic pricing strategies Adjusting your room rates based on the season can help you cater to fluctuating demand. This flexibility allows you to meet guests’ expectations while ensuring your prices remain competitive in today’s digital market. Leveraging this psychology can be advantageous for your business.

Marketing 83

Marketing Guest Satisfaction Banquet Operations Book 83

Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

Pricing 203

Pricing Scheduling Information Marketing 203

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. To capture their attention and loyalty, businesses, including restaurants, must prioritise easy access and convenience.

Pricing 215

Pricing Catering Training Marketing 215

Modern Restaurant Management

JANUARY 22, 2024

Using technology to facilitate contactless payments, online ordering, and quick table rotation can increase consumers’ satisfaction and loyalty. Implement personalized suggestions, loyalty programs, and special incentives to make each diner feel appreciated and understood.

Reservations 181

Reservations Customer Service Marketing Pricing 181

Modern Restaurant Management

MARCH 4, 2024

Cracking the Code of Restaurant App Usage, November 2023 ) What Customers Value RMS segmented respondents by generation, and while preferences varied, all ages placed the most value on: Exclusive deals Loyalty-based incentives Customization What They Don’t Value On the other hand, crashes or technical issues ranked as the biggest pet peeve.

Catering 197

Catering Training Pricing 197

Modern Restaurant Management

OCTOBER 24, 2023

Surging prices have been top of mind for consumers for two years and counting, leaving restaurant leaders questioning how inflation might influence diners’ behavior and overall spending habits, including their usage of digital ordering and third-party delivery apps– both of which gained momentum during the pandemic.

Pricing 197

Pricing Marketing Customer Service Scheduling 197

Modern Restaurant Management

FEBRUARY 5, 2024

In this edition of MRM Research Roundup, we feature pizza predictions, Valentine's Day menu trends and lots about loyalty. Consumers Love Loyal Eighty-five percent of consumers are joining loyalty programs, and restaurant merchants know they need to capitalize. According to the 21st Annual U.S.

Marketing 196

Marketing Budgeting Cost Reduction Pricing 196

InnQuest

OCTOBER 24, 2023

When guests book directly, you avoid paying hefty commissions to OTAs. Guest Loyalty Direct bookings often lead to stronger guest loyalty, as a positive booking experience increases the likelihood of guests returning and recommending your property. Understanding the impact of your hotel reservation system on your business is key.

Reservations 130

Reservations Book Pricing Guest Satisfaction 130

Revenue Hub

JANUARY 19, 2024

How do you find the right balance between rewarding their loyalty and optimizing profit margins? Well, that’s because they’re still paying prices from 2005, potentially causing you to miss out on some serious profit. Adjust Prices Periodically This one’s an oldie but goodie. We’ve got you covered. And a curse?

Pricing 83

Pricing Download Book Article 83

Revenue Hub

OCTOBER 9, 2023

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 93

Pricing Article Book Marketing 93

Modern Restaurant Management

MAY 17, 2023

Dynamic pricing on these platforms might be necessary to combat some of the lost revenue due to fees. Another is to add convenience like saved orders, saved payment methods or Apple Pay, loyalty programs, and personalized offers or perks. Loyalty rewards don’t have to include discounts and coupons anymore.

Scheduling 189

Scheduling Marketing Pricing Events 189

Revenue Hub

MAY 17, 2024

Review Data for Optimal Pricing & Distribution Review last year’s occupancy and revenue data to help you price rooms and packages correctly, and optimize your presence across distribution channels. Pro tip: Reexamine any OTA loyalty programs and visibility boosters you use and check that cost and performance are as expected.

Pricing 68

Pricing Article Information Book 68

Horizon Hospitality

JULY 31, 2023

The biggest concern guests have is the value they receive for the price. Loyalty Programs Are King Economy and limited-service hotels have fewer options for providing more amenities or services to guests. Loyalty Programs Are King Economy and limited-service hotels have fewer options for providing more amenities or services to guests.

Pricing 130

Pricing 130

Modern Restaurant Management

AUGUST 23, 2023

Restaurant loyalty programs are nothing new so what can restaurants do to stand out from the competition and better engage with guests to build relationships? To learn more about how loyalty programs are evolving, Modern Restaurant Management (MRM) magazine reached out to Joseph Yetter, the General Manager of Punchh, a PAR Technology Company.

Marketing 167

Marketing Catering Communication Pricing 167

EATER

FEBRUARY 27, 2024

Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. If so, you’re in luck!

Pricing 132

Pricing Procurement 132

Modern Restaurant Management

OCTOBER 13, 2022

Rising inflation has impacted businesses for the better part of the year, leading many to modify their menus and increase prices in the face of higher ingredient costs. Put Loyalty Rewards Into Customers’ Hands with a Branded Mobile App.

POS Systems 180

POS Systems Download Pricing Budgeting 180

Hotelogix

APRIL 22, 2024

For instance, by analyzing stay patterns and booking sources, you can optimize your marketing campaigns and pricing strategies to attract the right audience at the right time. It not only enhances guest satisfaction but also boosts loyalty and repeat business.

Guest Satisfaction 130

Guest Satisfaction Book Pricing Reservations 130

InnQuest

OCTOBER 11, 2023

What To Keep In Mind While Choosing An Online Travel Agency: As you embark on your journey to choosing the right OTA, consider these crucial factors: Price Transparency: Ensure that the OTA provides clear pricing details, including fees and taxes. Expedia’s strength lies in its variety, making it a favorite among US travelers.

Information 220

Information Book Blog Pricing 220

Revenue Hub

OCTOBER 18, 2023

Dynamic Pricing Strategies Dynamic pricing allows hotels to adjust room rates based on demand and booking behaviour. By monitoring user behaviour, hoteliers can identify peak booking times and adjust pricing accordingly. By monitoring user behaviour, hoteliers can identify peak booking times and adjust pricing accordingly.

Book 84

Book Marketing Pricing Guest Satisfaction 84

InnQuest

OCTOBER 3, 2023

Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. These insights inform pricing and marketing strategies, optimizing revenue management. Comprehensive Reporting: Integrated systems offer robust reporting and analytics tools.

Guest Satisfaction 221

Guest Satisfaction Information Property Management Blog 221

InnQuest

FEBRUARY 3, 2023

Exceptional guest experience can elevate a hotel’s reputation and increase revenue and repeat stays. An effective strategy that can help is to upsell additional services or products relevant to customers. According to studies, it can cost five times more to attract new customers than to retain existing ones. What is Upselling?

Book 220

Book Reservations Communication Pricing 220

Revenue Hub

DECEMBER 13, 2023

Enhancing pricing flexibility and profitability as guests are willing to pay more for bespoke services. Enhancing pricing flexibility and profitability as guests are willing to pay more for bespoke services. Boosting customer loyalty and repeat bookings through tailored experiences.

Pricing 99

Pricing Book Strategic Planning Information 99

Modern Restaurant Management

FEBRUARY 17, 2023

Restaurant operators have scrambled to launch loyalty programs and subscription services in recent years – capitalizing on new technology to keep that “old” customer, often 16x more valuable than a new one. Be mindful of consumers’ time and patience so that they can reward you with loyalty. Hint: rewards help.

Pricing 188

Pricing Marketing Presentation Training 188

Revenue Hub

JANUARY 18, 2024

When used strategically, it can boost revenue, attract new guests, and even enhance guest loyalty. Blindly slashing prices can lead to lower profit margins, brand erosion, and an unintended expectation of perpetual discounts from your guests. Enhancing Guest Loyalty Discounts aren’t just about price; they’re about value.

Pricing 91

Pricing Article Book Marketing 91

Revenue Hub

DECEMBER 6, 2023

But I’m specifically referring to the practice of lowering prices during the booking process, then adding hidden fees later. The ‘Drip Pricing’ Dilemma Ah, drip pricing, the art of gradually revealing hidden charges during the booking process. It’s like peeling an onion; every layer reveals a new cost.

Pricing 89

Pricing Book Article Marketing 89

STAAH

MARCH 19, 2024

Direct bookings foster brand loyalty and give hotels control over pricing and policies. Smart Pricing Features: Opt for a booking engine with smart pricing capabilities to dynamically adjust rates based on demand and market trends. Let’s Find Out Six Strategies to Increase Direct Bookings: 1.

Book 84

Book Guest Satisfaction Pricing Marketing 84

Revenue Hub

SEPTEMBER 12, 2023

Subscribe to our weekly newsletter and stay up to date By understanding the different types of guests a hotel attracts and tailoring pricing and marketing strategies accordingly, hotels can unlock significant revenue potential. Loyalty programs can be customized to cater to different guest types.

Pricing 107

Pricing Book Article Blog 107

Modern Restaurant Management

NOVEMBER 15, 2023

A return to work in offices and higher grocery prices due to continued inflation pressures are among the factors leading to nearly one in four U.S. Price was the top priority for all consumers, followed by menu and location. However, this usage gap widened across other dining categories.

Pricing 110

Pricing Marketing Catering Magazine 110

Hotel Business

MARCH 14, 2024

“Hoteliers are telling us they are looking for newer ways to increase loyalty among guests and employees this year,” said Warren Dehan, president, Maestro. Mobile tools, such as check-in/out, digital room keys, digital concierge services, workflow automation, digital payments and even robotics are positively impacting loyalty in many ways.

Concierge 59

Concierge Housekeeping Book Pricing 59

Revenue Hub

MARCH 25, 2024

They enable personalized experiences, data collection, and targeted marketing efforts and direct bookings foster brand loyalty and give hotels control over pricing and policies. Smart Pricing Features: Opt for a booking engine with smart pricing capabilities to dynamically adjust rates based on demand and market trends.

Book 98

Book Pricing Article Catering 98

InnQuest

JANUARY 5, 2023

Introduce Loyalty Programs – Lastly, building a customer loyalty program is an excellent way to reward your clients for their continued support and encourage them to book their stay with you in the future. This is why we offer competitive pricing, without sacrificing quality or functionality in our software solutions.

Travel and Tourism 223

Travel and Tourism Property Management Blog Book 223

Modern Restaurant Management

MAY 30, 2023

Our recent survey on restaurant apps, loyalty and dining choices gave us insight into what your customers think. About half of respondents rely on apps for loyalty or rewards promotions, an effective and profitable way to grow your brand’s reach in these price-sensitive times. But don’t just take our word for it.

Download 197

Download Pricing Marketing 197

InnQuest

SEPTEMBER 5, 2023

It involves tracking and controlling inventory in real-time, making informed decisions on pricing, room allocation and availability, and ensuring that the right resources are available at the right time. Effective management ensures that rooms are allocated efficiently and priced competitively. Maintenance and scheduling are crucial.

Guest Satisfaction 218

Guest Satisfaction Maintenance Pricing Book 218