Soft Inn

JULY 10, 2023

Take a look at what you can learn from Marriott's pricing strategy. Try googling the largest hotel chain in the world and see what pops up. It's a guarantee that Marriot International takes the cake. Being so successful must come from a solid strategy, right?

Pricing 246

Pricing 246

InnQuest

MAY 11, 2023

As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world.

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Pricing Reservations Book Marketing 220

Modern Restaurant Management

APRIL 17, 2024

Eighty-one percent of diners said they would either stop going to a restaurant altogether or alter their dining hours to avoid prices surging during peak hours and 64 percent said they have a negative reaction to restaurants using surge and dynamic pricing, according to a HungerRush’s National Restaurant Price Surging Survey.

Pricing 197

Pricing Information Communication Magazine 197

eHotelier

JULY 10, 2024

You must research as much as possible to make the best decisions, and perhaps my outlook on this one topic can help you decide for yourself the importance of addressing your current pricing strategy.

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Pricing Information 203

eHotelier

DECEMBER 18, 2023

Implementing these pricing strategies effectively will position your hotel as a sought-after destination during this festive period while ensuring a profitable season ahead.

Pricing 222

Pricing 222

eHotelier

JUNE 12, 2024

Optimizing hotel room pricing requires a holistic understanding of various factors influencing demand and market conditions. By analyzing these elements and implementing strategic recommendations, you can set logical, competitive prices that enhance revenue and profitability.

Pricing 173

Pricing Marketing 173

Boutique Hotel News

JUNE 16, 2023

UK: The four-star Lion Hotel , located in Criccieth, Gwynedd in North Wales, is up for sale at a reduced price of £1,800,000 marketed by business property adviser Christie & Co. The post The Lion Hotel for sale at reduced price of £1.8 It can easily surpass this now with the right operator.”

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Pricing Catering Events Marketing 242

MEWS

AUGUST 20, 2024

What is dynamic pricing in hotels? We’re all likely familiar with algorithms now, as many of the tools we use daily depend on them. Type anything into Google, and a complex system of data retrieval kicks into action to deliver the best possible results for your query.

Pricing 219

Pricing 219

Modern Restaurant Management

AUGUST 16, 2024

One of the more popular solutions to helping a business thrive is dual pricing credit card processing. What is Dual Pricing? Dual pricing is a payment model that allows businesses to implement two different prices for credit card transactions. A perfect example of dual pricing is a gas station.

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Pricing POS Systems Accounting Presentation 173

Soft Inn

DECEMBER 11, 2024

In the hotel industry, pricing is a critical component that can significantly impact revenue and occupancy rates. Understanding the basics of hotel pricing involves knowing the different types of pricing strategies such as seasonal pricing, competitive pricing, and value-based pricing.

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Pricing Information Marketing 130

Hospitality Magazine

OCTOBER 15, 2024

The post Hospitality staff priced out of rentals appeared first on hospitality | Magazine. Now it’s clear that it’s also failing our key workers – including those who work full time.” Although the results are dire, Chambers says it an opportunity for change. More information is available from the Anglicare website.

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Pricing Information Magazine Marketing 190

Modern Restaurant Management

NOVEMBER 25, 2024

Faced with rising labor costs and increasingly price-sensitive customers, restaurant brands are exploring new ways to balance profitability with consumer expectations. One of the most debated strategies is dynamic pricing, which adjusts based on demand and other variables. They were asked to place an order from an online restaurant.

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Pricing Marketing 178

Soft Inn

NOVEMBER 21, 2024

Pricing a hotel room effectively is a complex yet crucial aspect of hotel management. The right pricing strategy can significantly impact a hotel's revenue and guest satisfaction. This guide aims to provide you with a comprehensive understanding of the best practices for setting hotel room prices.

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Pricing Guest Satisfaction Article 130

eHotelier

FEBRUARY 9, 2023

How can you make sure that the system’s responses completely align with your company’s business strategy? And what part does your team play in this? Here are three steps to achieve a balance at your hotel to foster solid collaboration between your team and their AI-based helpers.

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Pricing 288

Revenue Hub

JANUARY 14, 2025

As we enter 2025, integrating Artificial Intelligence (AI) into hotel pricing strategies continues to revolutionize the hospitality industry. The impact of AI on hotel pricing has deepened and expanded, reshaping the industry in profound ways. billion by 2027, driven by this trend.

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Pricing Guest Satisfaction Book Training 89

Modern Restaurant Management

MAY 13, 2024

Tastes and preferences constantly change as trends come and go, keeping the restaurant industry on its toes. But two non-negotiables have remained strong for diners: convenience and loyalty. With digital and frictionless experiences at the forefront, diners are seeking their favorite restaurants in new, more affordable ways.

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Pricing Download Information 197

eHotelier

JANUARY 12, 2025

Its not trimming costs, fixed pricing models, or resisting change; rather, its all of those things and more. The most successful hotels know their profitability is won or lost on dozens of strategic decisions throughout the property.

Pricing 279

Pricing 279

Revenue Hub

JANUARY 15, 2025

They will also flag periods of unexpectedly high demand when you can increase pricing and earn more revenue. Well explain how to use forecast insights to optimize pricing and inventory, improve operational planning, and not just meet budget targets but exceed them. Fine-tune pricing: Adjust pricing based on demand to maximize revenue.

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Pricing Budgeting Article Housekeeping 85

Revenue Hub

DECEMBER 12, 2024

It also means monitoring their offerings and pricing. Pricing: Properties that offer similar room types at similar prices. Then it decides how to position its pricing relative to them, a process known as competitive price benchmarking. Some hotels tie their pricing to just one or two competitors.

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Pricing Article Book Catering 100

Fast Casual

JANUARY 3, 2025

Mike Stasko, the president of Sunny Street Cafe discusses how the restaurant franchise is navigating the challenges of rising egg prices while maintaining its commitment to quality and customer value.

Pricing 115

Pricing 115

eHotelier

APRIL 10, 2023

By analysing guest data, using dynamic pricing strategies, leveraging pricing psychology, personalizing offers, and providing staff with the right tools and training, hotels can improve overall business performance. Hotels can effectively grow revenue today through applying revenue management strategies to the practice of upselling.

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Pricing Training 299

eHotelier

NOVEMBER 11, 2024

Remember the golden rule, the lower the cap rate the higher the purchase price paid and at the same time the lower the expected returns on that investment in the future because the price paid was higher.

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Pricing 261

eHotelier

MARCH 21, 2024

Fortunately, price isn’t the only tool available to hoteliers looking to improve their occupancy rate. Here's a look at how to increase hotel occupancy with some tried-and-true approaches and introduce some important considerations to keep in mind when monitoring this common hotel performance metric.

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Pricing 299

eHotelier

OCTOBER 15, 2024

Revenue management for Mille Club properties is diametrically opposite to that of their lower-priced brethren. Luxury consumers are agnostic to minor price differences, while competitive sets are difficult, if not impossible, to define as they lack close geographic parameters.

Pricing 245

Pricing 245

eHotelier

AUGUST 22, 2024

Google Hotel Ads is a metasearch engine, or price comparison site, on which you can launch campaigns to convert ready-to-book travelers and drive direct bookings.

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Book Pricing 264

Modern Restaurant Management

JANUARY 14, 2025

But it goes beyond figuring out how to source the freshest ingredients at the best price. Extreme Weather: By 2035, experts predict that higher temperatures alone will push up worldwide food prices by between 0.9 Negotiate Strategically : Don't be afraid to negotiate on price, payment terms, and delivery schedules.

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Pricing Communication Scheduling Book 167

Modern Restaurant Management

DECEMBER 27, 2024

In 2024, restaurant traffic slowed while price sensitivity grew. Moreover, three out of four respondents believe restaurant prices are higher and high prices are the primary reason for cutting back on restaurant spending. Sustained loyalty is the goal in this highly competitive, price-driven market. Continued trepidation.

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Pricing Budgeting Accounting Marketing 188

eHotelier

FEBRUARY 21, 2024

We take a closer look at a property that has leveraged the global trend that’s accelerated in the post-pandemic era centered around the ‘price inelastic yet experience elastic’ hotel consumer.

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Pricing 241

eHotelier

APRIL 24, 2024

It's about understanding not just how to optimize prices and manage inventory, but why these actions matter in a larger context — a context that includes genuine customer satisfaction and enduring business success. Effective revenue management is driven by a clear sense of purpose.

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Pricing 246

eHotelier

JUNE 19, 2023

If a hotel puts more effort into designing packages using the four Ps (Product, Price, Promotion, and Place), the chances are much higher that the package will become a sales success.

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Pricing 263

Hospitality Magazine

JANUARY 11, 2023

For pubs, that means covering the cost, looking for alternatives or seeing menu price rises. The increase in the price of potatoes puts more financial pressure on pubs already facing increased costs including power, beer excise, drinks over the bar, transport and staff.

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Pricing Magazine 244

MEWS

AUGUST 13, 2024

ADR is an important metric because it can help you evaluate how well your pricing strategies are performing, helps you better practice revenue management and maximize the revenue on each room sold, and serves as a point of performance comparison between your hotel and the competition.

Pricing 246

Pricing 246

eHotelier

MAY 28, 2024

Determining the current selling or asking price for a hotel is a bit tricky. Here's how you can estimate the value, AKA sales price.

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Pricing 162

Hospitality Magazine

NOVEMBER 27, 2024

After a few years of running its iconic ‘Australiano Hour’, Surry Hills restaurant Jane has achieved the holy trinity of happy hour success: returning customers, effective pricing, and a busy venue. The team knew the price point had to be sharp enough to compete with the local competition. A tip to keep it economically sound? “We

Pricing 206

Pricing Reservations Magazine 206

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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Pricing Catering Presentation Marketing 197

Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 Additional insights into QSR sales, traffic, and pricing trends are in the Revenue Management Solutions June Trend Report. Positive net sales in May (+1.9

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Pricing Marketing Budgeting Communication 189

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.

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Guest Satisfaction Maintenance Pricing Book 218