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What is the meaning / definition of Time per Table Turnaround in the hospitality industry? The term, Time per Table Turnaround refers to a metric used to assess the time it takes a customer group utilising a table/ space from the moment they sit down to the moment they paid the [...]

What is the meaning of time based pricing in the hospitality industry? The term time based pricing refers to a method of pricing that charges its customers according to time. This stands differs from value based pricing – whereby the company charges its customers according to value delivered. The Time-Based Pricing [...]

What is the meaning / definition of Target Market in the hospitality industry? Adopting a laser-focused approach to selling hotel rooms can be pivotal in achieving excellent occupancy levels, and therefore outstanding profits year-on- year. Marketing towards a specific audience, rather trying to sell to everyone (and being, as we say [...]