Revenue Hub

MAY 12, 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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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?

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Revenue Hub

FEBRUARY 1, 2023

We have a long history and exceptional pedigree in intelligent pricing automation, initially in digital advertising and then in hotels. And now we are providing pricing automation to the live entertainment industry. Charging the optimal price at all times is a huge benefit for our clients.

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Revenue Hub

OCTOBER 13, 2022

Seeing one price to then being presented with another one. I just came from Expedia at $100) Price ambiguity hits: let’s check Booking.com too. Point being, even when you saying the truth, you’re lying, because too many external factors impact the final price prospects are presented with. Just saying….

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Revenue Hub

MAY 23, 2023

With this information, hoteliers can make more informed decisions about pricing, inventory, and marketing strategies. Data analytics tools allow hoteliers to access real-time data on occupancy rates, demand trends, and competitor pricing. This has resulted in more efficient revenue management and increased profitability.

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Pricing Book Article Marketing 67

Revenue Hub

MAY 22, 2023

Dynamic Pricing Strategy in Hotels, Airlines practice it. Subscribe to our weekly newsletter and stay up to date Dynamic pricing in the hotel Industry Thanks to sophisticated technology and the internet, the pricing operations of hotels have never been more efficient and profitable. Should hotels be an exception, then?

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Modern Restaurant Management

APRIL 12, 2022

RMS just released our latest findings around consumer sentiment for Q1 , which revealed, among other things, that price is starting to matter—and not by an insignificant amount. When asked why they were getting less value from a restaurant visit, 82 percent reported higher prices. The sentiment has changed rapidly.

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Revenue Hub

NOVEMBER 30, 2022

This is where price segmentation comes in. One of the first uses of price segmentation was in the airline industry during the early 1980s. Over the years, variable pricing has become almost exclusively automated, and many additional features have been introduced. PRICE SEGMENTATION. IMPACTS OF PRICE SEGMENTATION.

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Pricing Article Marketing 92

STAAH

MAY 16, 2023

Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. However, there are many factors that can influence your hotel’s pricing strategies. What is Hotel room pricing? What is Hotel room pricing? Hotel room pricing is a critical element of revenue management for hotels.

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Revenue Hub

MAY 2, 2023

If your prices are outdated or inconsistent , it can create consumer confusion and mistrust. That’s why it’s so important to implement measures to ensure price integrity. In this article, we will share everything you need to know about price integrity. What is price integrity?

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Pricing Book Article Marketing 76

Modern Restaurant Management

MARCH 2, 2022

Restaurant menu prices continue upward as the U.S. Operators are being forced to make changes in an effort to navigate the price escalation. Technomic also reported that 45 percent of consumers say they usually pick restaurants with lower prices. Department of Labor reported an inflation rate of 7.5 percent on an annual basis.

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Revenue Hub

FEBRUARY 15, 2023

Attribute-based pricing is becoming an increasingly popular pricing model in the hotel industry. Subscribe to our weekly newsletter and stay up to date In this post, we are going to discuss what attribute-based pricing is, and how using an efficient rate structure can help you boost your overall revenue and profits.

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Modern Restaurant Management

SEPTEMBER 9, 2021

The data to analyze with food is the following: food sales, food costs, sales mixture, food inventory, cost of goods sold, menu pricing, invoice reviews for accuracy of pricing, stock on hand, beginning and end of day protein counts, and daily sold items. They have to price it on the menu and add it to the inventory. Food Costs.

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Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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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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Pricing Presentation Article Marketing 95

Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Pricing Catering Events Article 90

Travel Pulse Destinations

APRIL 25, 2023

New IATA report provides perspective on the trajectory of airline ticket prices and suggests that until recently, prices weren't really that high.

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Revenue Hub

MARCH 3, 2023

Hotel prices in key American leisure destinations soar, while hoteliers in markets more reliant on business travel and long-distance international tourism are facing tougher times. Average lowest actualised hotel room price for US cities – 2019 versus 2022 We are not alone in this analysis.

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Travel and Tourism Pricing Article Marketing 94

Revenue Hub

MARCH 27, 2023

Welcome to “The Battle for Fair Prices: Solving Hotel Rate Disparity for Owners and Managers,” where we will embark on a journey to unravel the causes, challenges, and potential solutions for this pervasive issue. So, buckle up and get ready to wage war on hotel rate disparity – it’s time to claim victory in the battle for fair prices!

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Pricing Article Marketing 91

Modern Restaurant Management

DECEMBER 1, 2021

In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. If current projections from the U.S.

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PhocusWire

MAY 3, 2023

Airbnb's latest update includes a relaunch of private rooms with new enhanced host and property details, total price displays and a clear description of checkout chores in the listing.

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Pricing 91

Revenue Hub

FEBRUARY 9, 2023

The price must be right When it comes to booking air travel, it’s all about price, with atypical, low pricing being the top thing consumers value. However, many airline industry professionals underestimate the impact of price and overestimate other things like the impact of contactless experiences.

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Revenue Hub

FEBRUARY 28, 2023

Triptease’s global pricing database allows us to understand long terms parity trends. Below we are counting how many times each OTA had the best price in metasearch. There are probably some big price undercuts that you’d never be willing or able to compete with – but what about the prices that are only a matter of a few dollars?

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Revenue Hub

MARCH 14, 2023

A consumer’s perception of what the appropriate price is has been made even harder by the power of the OTAs. With rate shopping, OTA’s promote direct cost comparison by establishing price as the single differentiator. But, hotels have the opportunity to reposition price as just one factor of their overall decision.

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Pricing Book Article Presentation 93

PhocusWire

MARCH 31, 2023

While Disney has launched one of the most complex dynamic pricing systems, these can create unintended consequences for companies that don’t plan carefully.

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Pricing 97

Travel Pulse Hotels

SEPTEMBER 29, 2022

American Express Global Business Travel has just released its annual forecast for next year’s hotel pricing trends, and predicts that accommodations pricing is bound to increase further.

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Hospitality Net

APRIL 12, 2023

USD in 2022 compared to the previous year, the prices for additional services such as breakfast, room service, and spa treatments were only raised by an average of 7%. While the Average Daily Rate (ADR) in Europe increased by 18.5%

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Revenue Hub

OCTOBER 31, 2022

And this has led us to a fork in the road where, in order to remain competitive and relevant in the industry, hotels must develop new data-driven pricing strategies. In this post, we will discuss why pricing is so essential for your hotel and how you can design an effective strategy that generates consistent revenue streams.

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Revenue Hub

JANUARY 25, 2023

Price is one of the key factors in any commercial transaction, whatever the product or service. It is true that the more unique and luxurious the hotel, the less the price matters. It is true that the more unique and luxurious the hotel, the less the price matters.

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Revenue Hub

MARCH 29, 2023

With the right approach and the right pricing strategy, rate parity can actually be a great opportunity to enhance your guest experience and generate increased ancillary revenue streams for your hotel. Where hotels are able to offer OTAs discounted prices provided they don’t do it publicly. What is rate parity? Narrow rate parity.

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PhocusWire

JANUARY 18, 2023

Finnair says the move means customers will not suffer large price increases between booking classes with pricing no longer tied to “legacy price points.”.

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Revenue Hub

JANUARY 30, 2023

The sole purpose of any pricing strategy is to optimize your revenue. NB: This is an article from eZee Absolute Let me be clear that setting prices on your rooms and services doesn’t count as a pricing strategy. It is how you mould and manipulate your prices according to the market scenario and your guests.

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Pricing Article Marketing 90

Revfine

FEBRUARY 11, 2023

Yet, revenue management The post Revenue Management is About Much More Than Pricing appeared first on Revfine.com. As the consulting engagement kicks off, these hospitality professionals will say they understand the discipline even though they lack a structured approach.

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eHotelier

APRIL 12, 2023

The recently released white paper Hospitality Inflation Report 2023 reveals that the hotel industry has effectively handled inflation and passed on the increased energy and labor costs to guests.

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eHotelier

APRIL 23, 2023

Atomize, the global innovative revenue management software (RMS) has been selected by Criterion Hospitality to support their Commercial Strategy in the UK.

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Pricing 130

PhocusWire

MARCH 23, 2023

For fares that include the guarantee, Google automatically monitors prices and refunds the difference to the traveler's Google Pay account if it drops.

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Hotel Owner

OCTOBER 12, 2022

UKHospitality chief executive Kate Nicholls has welcomed the Government’s new Energy Prices Bill adding that it will provide “relief to all manner of hospitality businesses”. The publication of wholesale energy prices will also provide much-needed clarity for businesses.

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