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Revenue Management Strategies for the Hospitality Industry 

Paper Chase Accountancy

It involves a systematic process of understanding, anticipating, and influencing consumer behavior to maximize income, especially for perishable inventory like hotel rooms or airline seats. Right Customer: Who you’re selling to (e.g., Right Price: The optimal rate for that product and customer. early bird vs. last-minute).

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Revenue Management for Hospitality and Tourism: A Beginner’s Guide 

Paper Chase Accountancy

It’s a strategic discipline focused on maximizing financial gain by selling the right product to the right customer at the right time for the right price. This strategic approach isn’t just a buzzword; it’s a vital tool for hotels, resorts, airlines, and even tour operators to optimize their earnings.

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Where Is Surge Pricing Headed?

Modern Restaurant Management

"While third-party delivery companies were expected to commoditize food like airline tickets, the opposite happened: people became more attached to their favorite brands. Food is visceral in a way that airline seats aren't. Will customers always be resistant to dynamic pricing at restaurants? Yes, and yes!

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MRM Research Roundup: End-of-April 2021 Edition

Modern Restaurant Management

In this edition of MRM Research Roundup, we have news on understanding customer loyalty, beverage insights, restaurant supply loyalty, the influence of discounts, the state of payments and the evolution of gift cards. The impact of COVID-19 on customer behavior was experienced swiftly f by all industries. California.

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Restaurant Loyalty Programs to Boost Revenues

Cheetah

Restaurants, retailers and airlines have been using loyalty programs to drive revenue for nearly three centuries. From their humble, though ingenious, beginnings as copper tokens and stamps, through the era of credit card clubs, to today’s mobile apps, loyalty programs have become indispensable marketing tools.

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MRM Research Roundup: Mid-August 2020 Edition

Modern Restaurant Management

Execution will play a pivotal role in building customer trust and ensuring today's diners remain loyal." Both sides agreed that a negative take-out experience – ranging from a reduced menu to poor service – was a deal-breaker. Personalization Drives Brand Loyalty. Can't touch this. Can't touch this.

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COVID-19 Resources for Restaurants

Modern Restaurant Management

This new site is a one-stop hub of critical information for restaurants, employees, customers and industry partners. In addition to the latest resources on COVID-19 restaurant and employee recovery programs, RestaurantsAct.com offers a brand new, industry-first interactive map of each state, District of Columbia and Puerto Rico.