
Does customer loyalty even exist?
The latest figures from Zonal and CGA by NIQ uncovered that the rate of no-shows has risen to a new high of 14% this year, once again costing the hospitality industry an estimated £17.59bn in lost revenue per year.
This rise comes at a time when every penny counts for hospitality, with rising costs, staffing problems and supply chain issues – all amidst a cost-of-living crisis – creating a difficult trading landscape.
Educating the public is an ongoing task for those of us working in hospitality, however there are a number of steps that you as operators can begin implementing today to reduce the likelihood of unfulfilled bookings, as well as reduce the impact of those that do unfortunately occur.
In this guide, we explore some of the approaches and technologies operators can explore today to begin combatting the no-shows issue in their venues – from boosting loyalty and improving communication, to deposits and simple cancellation processes.
Join the conversation and help us make no-shows a thing of the past
No-shows cost the hospitality industry an estimated £17.59 billion in lost sales every year. Join our group of passionate industry supporters to help spread the message far and wide and encourage customers to #ShowUpForHospitality.
A domestic tourism boom this summer, coupled with more tech savvy guests than ever before, presents a unique opportunity for the UK hotel industry in 2021 and beyond.
Research has shown over the past year, that there has been a huge leap in the adoption of technology at every part of the guest journey, as it plays a vital role in making guests feel safe when travelling. A Booking.com survey showed 64% of travellers agree that technology will play a key role in controlling health risks while travelling and 63% of global travellers believe properties should use the latest technology to help them feel safe.
Our latest whitepaper in partnership with the world’s leading professional body for hospitality professionals, the Institute of Hospitality, explores the importance of technology in the guest journey and discusses some of the strategies you can deploy in order to take advantage of changing consumer behaviour to grow your hotel business.
Amidst a challenging trading environment for pubs, many operators will be looking to use every tool at their disposal to help them better navigate rising costs, protect their margins, drive revenue and enable their team to achieve more.
Powerful pub tech, which has previously only been seen as viable for the big brands is now more accessible than ever, and the value it can add for smaller businesses – from independent village pubs to groups with aspirations for growth – has never been more apparent. In this guide, we explore the different solutions available to pub operators, and how this technology can help pubs meet their objectives.
Does customer loyalty even exist?
What is loyalty?
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Optimising Your Restaurant’s Capacity: 4 Steps to Smarter Booking Management
Virtually all industries have been hit by the COVID-19 pandemic and hotels, along with pubs, restaurants and all other hospitality businesses have been disproportionately affected. According to PricewaterhouseCoopers (PwC), occupancy rates for 2020 sat somewhere between 30-40%. And while the vaccine is likely to boost visitor numbers this year, PwC warns that occupancy will only rise to roughly 45% in 2021.
The road to recovery is set to be a tough one. Hoteliers are increasingly looking at technology as the solution to these issues and are relying on tech to better manage the guest journey. According to CGA, 94% of business leaders now believe technology is a fundamental part of helping them successfully navigate through the current climate.
The focus for hoteliers this year will undoubtedly be on business recovery and maximising occupancy, however it’s important to remember the vital role that F&B, including your hotel’s restaurant, can play in increasing REVPAR.
With many hotel restaurants competing against local pubs, restaurants or even delivery services for their guests’ F&B spend, we’ve put together a guide full of tips to help you successfully manage and promote your hotel restaurant and maximise revenue – as soon as your guests can check back in.
Download our guide – 10 ways to successfully manage and promote your hotel restaurant, to find out more about:
Managing and maintaining accurate stock levels is now more important than ever to maintain cash flow and make sure every penny counts. With ongoing changes in restrictions and fluctuation in demand, it is essential to get your stock under control.
Our short online questionnaire will ask you about your current methods of working, and by simply asking yes or no, you will quickly be able to identify your capabilities around key areas, including:
Technology continues to play a vital role in the running of a restaurant business. With consumer demands always changing, many technologies previously associated with larger restaurant groups have become widely adopted, enabling restaurants of all sizes to meet these ever-changing consumer expectations, as well as navigate the challenges faced by hospitality in the current trading environment.
In this guide, we explore some of the different technology restaurant operators should be considering implementing into their venues, the benefits these solutions bring to the table, and the importance of choosing the right tech partner to work with when considering a new system.
Does customer loyalty even exist?
What is loyalty?
The top 5 latest Order & Pay features to help you reduce overhead and boost efficiency
Podcast: The future of hotel management
10,000 job-ready recruits set to boost hospitality industry
Booking occasions in 2025: Guest behaviour and the opportunity for operators
Optimising Your Restaurant’s Capacity: 4 Steps to Smarter Booking Management
What Will Customer Loyalty Look Like in 2025?
Integrating customer and operational data can empower businesses to overcome today’s challenges, and exploit tomorrow’s opportunities.
COVID-19 has decimated the hospitality industry. According to the most recent figures from the Office of National Statistics, the service sector that includes hospitality has sustained the worst impact of any industry.
As UK Hospitality chief executive Kate Nicholls said: “hospitality is being asked to operate under the toughest restrictions of any sector and being given the highest mountain to climb in order to survive”. For many hospitality businesses, that survival is being driven by data.
Prior to COVID-19, forward-thinking operators used data to help them enjoy a competitive advantage and thrive. Now, data will be one of the many ingredients in surviving this crisis – and the most likely source of success as recovery begins next year.
Download our Whitepaper: Harnessing the power of data in the COVID-hit hospitality sector to discover how you could use data to aid business recovery in 2021.
In this Whitepaper you will learn about:
Saying the pub trade has had a tough 12 months would be the understatement to end all understatements. Yet despite many months of doom and gloom, there have been a great many positives to take away, one of the most important being people’s love and appreciation for the great British pub – the heart of many communities up and down the country.
So with the easing of restrictions finally on the horizon, now’s the time to focus on recovery and to lay the foundations for a pub business that won’t just survive but will thrive – this year and for many years to come.
The same tech tools that were previously considered viable for only the biggest pub chains are now accessible and affordable for independents too. If you are looking to spend more time with your customers, find new ways to drive revenue and make your business much more efficient, technology can help you do just that.
Download The Pub Operator’s Guide to Essential Tech to find out more about:
Growth is a natural sign that a business is doing something right: it shows that there’s a demand for what you do, and that’s why your customers keep on coming back.
However, growth needs to be approached with a degree of caution. There’s the danger that your business can grow too quickly, or even grow in the wrong ways.
That’s why you need the right tools. That means leveraging the power of the data your business already generates, but which you might not currently be able to access. It means streamlining what you do, reducing complexity and operating costs, enabling your staff to deliver exceptional customer service.
Download our Growing your hospitality business guide to find out more about:
These are tough times for the hospitality sector. We all know the factors: rising costs resulting in narrowing margins, while increased customer expectations are demanding continuous change and improvements.
And we know that some businesses respond by trying to work harder instead of smarter, pushing already stressed staff to breaking point or beyond. That rarely ends well, and it rarely delivers customer delight. There’s a better way, and that’s to do what you already do – but better.
All you need to do is unlock the power of the data your business already generates. The results can be extraordinary. At liveRES we’ve spent many years helping hospitality businesses big and small enjoy greater revenue and increased profits. And a huge part of that success is made possible by using integrated technology to share critical data.
Download our Fulfilling your profitability potential guide to find out more about: