Revenue Hub

JANUARY 29, 2024

The primary objective of any commercial function in a hotel remains crystal clear: to attract guests and maximize revenue per guest most productively and cost-effectively. By bringing together Marketing, Sales, and Revenue Management under a unified umbrella, a commercial team aims to harmonize these interdependent functions.

Article 95

Article Marketing Communication Pricing 95

Revenue Hub

AUGUST 29, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. NB: This is an article from Catala Consulting This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction.

Guest Satisfaction 82

Guest Satisfaction Pricing Strategic Planning Article 82

Modern Restaurant Management

OCTOBER 9, 2023

Using the QSR traffic and sales data Revenue Management Solutions (RMS) has been gathering for 25-plus years, our analysts recently completed an exhaustive comparison of pre and post-pandemic data, comparing the first two quarters of 2022 and 2023 to the same period in 2019. Optimize what’s working — the drive-thru.

Pricing 193

Pricing Information Marketing 193

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.

Pricing 52

Pricing Book Budgeting Marketing 52

Lodging Magazine

JANUARY 31, 2023

Hotel revenue managers face increasing expectations to drive outcomes through true data-based decision-making. Storytelling with insights can turn a tactical data keeper into a strategic revenue insight leader. Storytelling with insights can turn a tactical data keeper into a strategic revenue insight leader.

Magazine 67

Magazine 67

Revenue Hub

JANUARY 23, 2024

Top-Level KPIs: Top-level KPIs act as a broad compass for a business’s strategic direction. For instance, KPIs such as total Revenue per customer or customer acquisition cost offer immediate insight. Such detailed insights are crucial for operational teams and middle management to formulate targeted strategies and interventions.

Article 91

Article 91

Revenue Hub

MARCH 11, 2024

CLV represents the total revenue a hotel can reasonably expect to earn from a guest to understand the long-term value of its customer base. Because it informs financial forecasting, which in turn helps plan strategic business goals. How Do Hotels Measure CLV? Is your hotel already calculating CLV?

Reservations 84

Reservations Book Article Information 84

Revenue Hub

APRIL 24, 2024

Hotel revenue managers should understand various aspects including distribution mix, demand forecast, competition pricing and consumers’ buying trends, etc. to manage pricing more effectively and to increase hotel profit. It’s about better managing the assets of a hotel to maximize their value.

Pricing 80

Pricing Book Accounting Marketing 80

Revenue Hub

JANUARY 9, 2024

It’s incredibly difficult to think and act strategically if you don’t have an idea of what the future holds. If you’re new to revenue management or hotel operations, it will help to get acquainted with hotel demand forecasting, and we can help get you up to speed. What other types of forecasts do hotels use?

Special Events 76

Special Events Book Article Information 76

Revenue Hub

FEBRUARY 20, 2024

NB: This is an article from JLNPR Subscribe to our weekly newsletter and stay up to date Due in part to the advances of marketing technology and the wealth of customer data available due to online bookings, hyper-personalization has come front and center, as a must-do for hotels to secure more bookings, encourage repeat customers (more revenue!)

Marketing 92

Marketing Concierge Information Guest Satisfaction 92

Hotelogix

OCTOBER 18, 2023

For any accommodation business to run smoothly, hotel inventory management has to be effective. Its significance not only lies in ensuring your hotel's profitability but also in its potential to optimize revenue generation.  And that's what we are going to discuss today in this blog.    Let's get started.

Procurement 100

Procurement Guest Satisfaction Special Events Pricing 100

Revenue Hub

NOVEMBER 13, 2023

In an era where the guests’ needs and requirements are evolving, hotel CEOs are called upon to pivot from traditional revenue management tactics to a more nuanced guest-centric approach. Central to this evolution is a shift in revenue management focus—from mere capacity to customer-first strategies.

Travel and Tourism 97

Travel and Tourism Events Article Pricing 97

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.

Pricing 99

Pricing Book Download Accounting 99

Revenue Hub

MAY 30, 2023

A quarterly business review (QBR) is a meeting held by a hotel’s management team every quarter to review the hotel’s performance and define areas for improvement for the next quarter. That way, you will have access to all the data you need to ensure maximum revenue and profitability for your hotel.

Guest Satisfaction 79

Guest Satisfaction Article Budgeting Marketing 79

Revenue Hub

JULY 3, 2023

Hotel cancellations are an inherent challenge in the hospitality industry, impacting both revenue and operational efficiency. NB: This is an article from RateGain Whether due to unforeseen circumstances, changing travel plans, or other factors, cancellations can disrupt a hotel’s occupancy and revenue forecasts.

Guest Satisfaction 92

Guest Satisfaction Communication Book Customer Service 92

MBB Hospitality

NOVEMBER 15, 2023

In the restaurant industry, managing food costs is not just an operational task—it’s a strategic imperative. This article explores effective strategies for controlling food costs while maximizing restaurant revenue. Strategic Purchasing and Vendor Negotiations Reducing restaurant costs starts with strategic purchasing.

Pricing 52

Pricing Training Portion Control POS Systems 52

Revenue Hub

OCTOBER 23, 2023

The role of the revenue manager has become increasingly important in the competitive hospitality marketplace and more complex than ever. Meanwhile, ongoing staffing challenges add greater complexity to the role, with many revenue managers serving additional functions beyond the standard job description.

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Pricing Book Cost Reduction Strategic Planning 87

Les Roches

JANUARY 22, 2024

Navigating the labyrinth of hotel management can be complex, but there’s one concept that consistently stands out as a game-changer: hotel yield management. This powerful strategy harbors the potential to skyrocket your revenue and fine-tune your operations. What is hotel yield management? Intrigued to know more?

Pricing 52

Pricing Book Travel and Tourism Marketing 52

Modern Restaurant Management

NOVEMBER 8, 2023

Most restaurants, however, are still trying to manage their operation based on their outdated business plans, SOPs, and vague key performance indicators (KPIs). Panicked at first, some restaurant and F&B operations managed to adjust. Even dress codes are more relaxed. But the expectations of guests and owners did not change.

Training 189

Training Marketing Pricing Budgeting 189

Revenue Hub

JANUARY 25, 2023

Subscribe to our weekly newsletter and stay up to date Specifically, within the field of revenue management new AI-based solutions can provide live market intelligence and help hoteliers optimize, adjust and even price automation. It’s the same in hotel revenue management. Our answer: not at all!

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Pricing Article Marketing Information 71

Revenue Hub

OCTOBER 18, 2023

Benefits of Smart Review Management Here’s why mastering the art of review management is indispensable: Optimize Operational Efficiency : Feedback, even if it’s negative, provides a valuable lens into your service delivery. Strategic Marketing via Reviews : Prospective guests pore over reviews before confirming bookings.

Pricing 76

Pricing Article Book Marketing 76

Revenue Hub

JUNE 14, 2023

Ready to unlock extraordinary revenue during the high season? It’s time to kick your hotel’s revenue management into high gear! Be the hero they’ve been waiting for, saving them big while securing revenue in advance. Ignite their desire to prolong the magic and watch your revenue soar. Make the rate non-refundable.

Book 52

Book Article Marketing Pricing 52

SiteMinder

OCTOBER 10, 2023

This data-driven approach enables you to make informed pricing decisions , ensuring you remain competitive in the market while maximising revenue. These tools automate the mundane task of price tracking, freeing up time for you to focus on other crucial aspects of hotel management.

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Pricing Guest Satisfaction Information Catering 59

Revenue Hub

AUGUST 2, 2023

Harnessing technology, data, and innovative tactics to create exceptional guest experiences and drive revenue is paramount in this ever-evolving landscape. This model has historically proven invaluable, offering marketers a balanced and practical guide to strategizing and implementation.

Marketing 89

Marketing Pricing Article Blog 89

Synergy Suite

APRIL 18, 2024

Food sales are important, but so too is food expense management, especially during times when the cost of food is increasing. By effectively managing revenue and expenses, you can maximize your restaurant’s profits, reduce food waste, and ensure the long-term sustainability of your business. Raise menu prices.

Pricing 52

Pricing Portion Control Accounting Training 52

Larry Mogelonsky

SEPTEMBER 27, 2023

Newer tech pieces like contextual digital signage are helping address this challenge in a labor-light answer, but you still need every at-bat to get those hits in – that is, to maximize revenue per guest – with the cross-training of your server team a great way to build that ancillary spend.

Concierge 100

Concierge Server Training Download 100

Hotelogix

NOVEMBER 9, 2023

When you can have a large percentage of repeat or loyal customers, it acts as a firm revenue foundation. Storing guest data in your hotel management software will help you provide a personalized service to new and existing guests. The result will be immensely profitable for every hotel owner.

Housekeeping 245

Housekeeping Book Guest Satisfaction Blog 245

SiteMinder

FEBRUARY 29, 2024

This training covers a wide range of areas including customer service, communication, problem-solving, and operational management. Staff training in a hotel is a huge topic, with many different aims, from strategic to tactical. What are the objectives of hospitality training?

Training 52

Training Customer Service Guest Satisfaction Communication 52

Hotel Business

FEBRUARY 10, 2023

Hospitality management company Charlestowne Hotels closed out 2022 with significant additions to its portfolio and a new leadership structure to support the company’s strategic growth plan. “In The management company’s RevPAR is up 26% to 2019, more than double the national average (8.1%) over the same time period.

Marketing 52

Marketing Catering Hospitality Management Events 52

Synergy Suite

APRIL 12, 2024

Profit margin is a key financial metric that indicates the percentage of your revenue that is pure profit (since most revenue goes to cover business expenses). Profit margin is affected by many things, but at its core, it all comes down to revenue vs. expenses. Let’s get started! What Affects a Restaurant Profit Margin?

Pricing 52

Pricing Training Reservations Scheduling 52

Les Roches

JANUARY 11, 2024

The­se are typically a set of tactics and actions aimed at increasing income streams and generating greater profits. Key areas of improve­ment include sales, marke­ting, customer service and product offe­rings, with the ultimate goal of maximizing revenues in all possible areas. Master in hotel management.

Definition 52

Definition Pricing Training Marketing 52

Modern Restaurant Management

AUGUST 4, 2020

With restaurants opening back up, hiring managers will need to find applicants to quickly fill positions. Instead of not having enough talent, hiring managers will now need to sift through hundreds if not thousands of job applicants quickly and efficiently to get their businesses back up and running.

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Sanitation Server Accounting Information 203

InnQuest

JULY 10, 2023

This informative blog delves into the world of hotel market segmentation strategy, exploring real-world tactics, methods and actionable tips to help connect hotels with their ideal guests. To learn about hotel pricing strategies to boost revenue in 2023, read this.

Marketing 130

Marketing Catering Budgeting Pricing 130

Les Roches

JANUARY 12, 2024

We’ll also cover how you can learn hospitality pricing and revenue management to start an exciting career in the hotel and travel industry Definition of pricing Pricing – setting the right mone­tary value for products or services – is an integral part of running a busine­ss.

Pricing 52

Pricing Marketing Definition Catering 52

Modern Restaurant Management

DECEMBER 8, 2023

The goals of these use cases include efficiency in ordering processes, both for restaurants and customers, enhanced customer experiences, and an ability to enhance revenue by making customer- specific suggestions for new menu items and upsell options. Many restaurants have announced initiatives to use A.I. While front-of-house A.I.

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Front of House Training Information Back of House 117

eZee Absolute

JULY 31, 2022

Like any other business, hotels need to generate revenue in order to survive. How can small accommodation providers keep revenue flowing? In this article, I will discuss some sales and marketing strategies to increase revenue for small hotels and stay afloat. Strategies to increase occupancy and revenue. Sounds good?

Blog 52

Blog Pricing Book Property Management 52

Revenue Hub

JUNE 9, 2023

Many questions are on the minds of hospitality leaders as they strategize new, creative ways to generate revenue. Based on Amadeus research and industry insights, here are five new tactics your sales and event teams can employ now to convert opportunity into revenue. as well as what kinds of content are performing best.

Events 91

Events Book Article Catering 91