Revenue Hub

SEPTEMBER 5, 2023

In today’s hyper-competitive business environment, tapping into the power of data-driven decision-making is more crucial than ever. Book4Time has seen revenues by customers that use our yield functionality increase by more than 35% in the first six months of using the feature.

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Pricing Book Article Information 102

Revenue Hub

JANUARY 19, 2024

In the ever-evolving world of hospitality, one of the trickiest parts of revenue management is figuring out how to handle those die-hard customers. You know the ones – they’ve been coming to your property for 25 years and are pretty much part of the furniture now. So, how do you manage these types of clients?

Pricing 80

Pricing Download Book Article 80

STAAH

APRIL 28, 2024

Looking for a more intuitive tech solution Prior to STAAH , Jaypee Vasant Continental struggled with poor technology for its channel management. In addition to not performing as per expectation, their old channel management platform was also not user-friendly. Even multiple rate changes can be managed in a few clicks.

Definition 90

Definition Book Property Management Training 90

Modern Restaurant Management

JANUARY 31, 2024

Despite challenges including inventory costs, commission fees and staff turnover, many restaurant owners are expressing optimism about moving forward, according to TouchBistro’s 2024 State of Restaurants Report. Ninety-four percent of operators are planning some form of expansion and more than half of the 600 U.S

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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. What about the rest of the market? Move value menus from low-price to abundance.

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Pricing Marketing Presentation Training 188

eZee Absolute

DECEMBER 7, 2023

Revenue management (RM) is supremely necessary for hotels. I kid you not, most of the hotels refrain from opting for any sort of revenue management services. The hotel revenue management myths that are swirling around are the real reasons hotels are so skeptical about it. Who is to blame for it?

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Budgeting Pricing Blog Information 98

Modern Restaurant Management

JANUARY 8, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Pricing Catering Training Marketing 215

Modern Restaurant Management

MARCH 15, 2023

Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.

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Pricing Budgeting Communication Server 198

Modern Restaurant Management

APRIL 12, 2022

Revenue Management Solutions just released its Q1 2022 consumer sentiment survey, and it appears the industry’s concerns have moved beyond the pandemic. 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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Pricing Customer Service Marketing 189

Revenue Hub

NOVEMBER 1, 2023

In this blog we will focus on the five commonly held myths about revenue management technology and why you don’t need to worry. Did you know that, on average, hotels using automated pricing solutions experience a 22% increase in revenue and a 4% increase in ADR? My smaller, family-run property doesn’t need one.

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Pricing Budgeting Reservations Article 86

Modern Restaurant Management

NOVEMBER 15, 2022

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

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Revenue Hub

DECEMBER 6, 2023

Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. How would that impact your pricing strategies? Real-Time Agility is Key Why do you want real-time data to inform your pricing strategies?

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Pricing Information Article Marketing 90

Revenue Hub

JANUARY 25, 2024

And there’s a reason for the tech’s proliferation: it is incredibly adept at analyzing data much faster and at a much larger scale. And there’s a reason for the tech’s proliferation: it is incredibly adept at analyzing data much faster and at a much larger scale. Artificial intelligence is everywhere.

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Pricing Information Marketing Article 79

Modern Restaurant Management

JUNE 7, 2022

Talk about a dichotomy. At Revenue Management Solutions, we see evidence of this shift across multiple channels and frequencies. Among the more than 800 US diners surveyed, responses revealed that while older generations have not strayed from habits developed during the pandemic, the youngest generation feels the pinch.

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Budgeting Pricing 208

Revenue Hub

FEBRUARY 20, 2024

Common hotel revenue sinkers include selling inventory too soon and too low – spillage – or not selling enough during high demand, leaving you with last-minute discounts. Discover how to avoid them and grow your revenue. It’s essential to meet or exceed your guest’s expectations to maximize your hotel’s revenue.

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InnQuest

FEBRUARY 3, 2023

Exceptional guest experience can elevate a hotel’s reputation and increase revenue and repeat stays. According to studies, it can cost five times more to attract new customers than to retain existing ones. Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.

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Book Reservations Communication Pricing 220

Revenue Hub

APRIL 22, 2024

For too long, the hospitality industry has managed marketing with an emphasis on the expense side of the ledger. Opportunity wasted, revenue squandered. Opportunity wasted, revenue squandered. The revenue side of the ledger suffers quietly and without sufficient attention. An 11 to 1 return on investment.

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Budgeting Book Presentation Marketing 104

Revenue Hub

APRIL 24, 2024

When thinking about a hotel’s current technology capabilities, what comes to mind? In order to maximize revenue across the business, hoteliers should focus their budget on elevating the guest experience using advanced reservations, distribution, marketing, and data services. Innovation? Long-term growth potential? Intuitive design?

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Book Reservations Article Information 89

SiteMinder

APRIL 17, 2024

Hotwire.com is an online travel site that offers opaque pricing for hotel rooms, rental cars, and airline tickets. In this blog we’ll give you a full guide to using Hotwire as a hotel manager. In this blog we’ll give you a full guide to using Hotwire as a hotel manager. Maintain rate parity and manage your distribution.

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Pricing Book Blog Information 52

Revenue Hub

DECEMBER 14, 2023

A recent study by Regional Research Reports concluded that in 2022, the global Hotel Revenue Management Systems (RMS) market was valued at millions of USD and was projected to reach multi-millions of USD by 2033. Hotels using AI-driven revenue management systems have seen a 20-30% reduction in labor costs.

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Pricing Budgeting Presentation Article 95

Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

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Pricing Book Budgeting Marketing 52

Modern Restaurant Management

OCTOBER 20, 2021

To help guide its clients, who range from emerging full-service to large QSRs, Revenue Management Solutions took the temperature of more than 900 diners across the U.S. Its Q3 Quarterly Survey asked questions about vaccination mandates, changing work habits, current restaurant usage and future dining intentions.

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Pricing 215

Revenue Hub

SEPTEMBER 13, 2023

Are you still relying solely on a Revenue Management System (RMS) to drive your hotel’s profitability? NB: This is an article from Demand Calendar If so, you may miss substantial revenue streams and opportunities for greater guest satisfaction.

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Guest Satisfaction Pricing Article Book 79

Revenue Hub

JULY 4, 2023

Many hoteliers misunderstand revenue management. They think it’s all about lower prices when it’s actually about online visibility and brand reputation. That way, you can charge higher rates during high season than you may have in the past. Yet, this is subjective thinking. It’s actually the reverse.

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Revenue Hub

JUNE 23, 2023

The uncertain economy, combined with the increased supply of vacation rental properties, not to mention more online travel aggregators (OTAs) and direct booking options, is creating more competition than ever among vacation rentals. Can you maintain an effective revenue management strategy without software?

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Pricing Bookkeeping Property Management Book 79

Modern Restaurant Management

MARCH 21, 2022

The key is to make the right decisions around inventory and pricing at the right times—and having the right technology can make all the difference. The key is to make the right decisions around inventory and pricing at the right times—and having the right technology can make all the difference. and reporting.

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InnQuest

DECEMBER 21, 2022

In most cases, hoteliers track the number of guests, revenue, occupancy rate, customer satisfaction, etc. A high occupancy rate is generally a positive sign, indicating that the hotel is attracting more clients and generating revenue. A low occupancy rate, on the other hand, can be a sign of declining profits and revenue.

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Book Marketing Customer Service Reservations 223

Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Pricing Book Marketing Article 91

Revenue Hub

SEPTEMBER 29, 2023

Hoteliers have long understood the need to employ revenue management techniques as part of their sales strategy. NB: This is an article from Knowland They use it to make informed decisions and discover actionable insights to maximize revenue within the hotel. Non-room revenue optimization, however, has been far more elusive.

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Events Pricing Budgeting Catering 91

Revenue Hub

OCTOBER 30, 2023

Subscribe to our weekly newsletter and stay up to date In practice, the reality of automation for hoteliers is much more mundane. The fear: My revenue management job will become obsolete Whether you love your work or not, no one likes to feel like they don’t have a purpose. Absolutely not.

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Pricing Special Events Article Book 88

Revenue Hub

NOVEMBER 1, 2023

So, how much does it cost to acquire a booking at your hotel? NB: This is an article from Hotelogix However, it’s much more complicated than that, so understanding what GAC is and how to calculate Guest Acquisition Cost (GAC) correctly is crucial. At first, this seems to be a straightforward metric.

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Article Marketing Information Book 95

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. This means managing order complexity is crucial for pizza restaurants. If you’re a pizza restaurant, plan on stocking up so you don’t run out of key ingredients in the rush! million times per month.

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Hotel Owner

FEBRUARY 21, 2024

Swap ‘revenue’ for ‘volume’ and the expression rings equally true for hospitality. As hoteliers, we are in the business of delivering profit; and sitting at the centre of this effort should be the revenue manager and their team. So, how do we go about making our hotel more profitable?

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Pricing Information Budgeting Marketing 52

SiteMinder

OCTOBER 16, 2023

What is pricing intelligence? Pricing intelligence, also known as rate intelligence, is a way for hotels to optimise their pricing and profitability. It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools.

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Pricing Information Book Marketing 59

Revenue Hub

MAY 18, 2023

No matter the size or type of hotel, if you want to boost bookings, maximize hotel revenue and remain competitive in today’s uncertain market, then there is significant value in using an automated pricing solution or an RMS. Unfortunately, that’s easier said than done (without the help of technology!).

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Pricing Article Book Marketing 78

InnQuest

NOVEMBER 21, 2022

As business started picking up again after the pandemic, inflation and the cost of living crisis worsened, threatening more uncertainty for the hospitality industry. Travel has become a bigger priority for some consumers than it was before the pandemic, with many considering it an important factor in maintaining their mental health.

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Housekeeping Book Property Management Pricing 130

SiteMinder

NOVEMBER 2, 2023

Joining forces with SiteMinder Vu Thanh has been a part of the Fusion team since 2018, overseeing e-commerce strategies for individual hotels, maximising online revenue, and ensuring that guest expectations are met. With more than a decade of partnership, SiteMinder has helped revolutionise Fusion’s distribution and revenue strategies.

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Book Pricing Information Marketing 98