7 Steps to Build a Reliable and Stress-Free Hotel Forecast
Stop guessing your demand. Learn the simple 7-step guide to hotel forecasting to build reliable budgets, optimize your pricing, and take control of your revenue.
Upselling is a common practice as it can help hotels increase revenue and improve the guest experience. Indeed there’s lots of ancillary revenue to generate on additional services, either from within the hotel or by partnering with local businesses.
Here are some tips for upselling to hotel guests:
Personalization is key in the hotel industry, as it allows hotels to create a unique and memorable experience for each guest.
Here are some tips for personalizing the guest experience at your hotel:
Spending on ads is still necessary but fighting OTA portals there is really hard. Instead you can differentiate! Social Media is where it is at in 2023.
Maybe say hello to Tik Tok and incorporate this new medium in your social media marketing strategy? Here’s our guide on promoting your hotel business on TikTok.
Experiment with new features and tools offered by social media platforms. For example, you could use Instagram Stories or Facebook Live to give followers a behind-the-scenes look at your hotel, or use hashtags and geotags to reach a wider audience.
Encourage guests to share their experiences at your hotel on social media or review sites. User-generated content, such as photos and reviews, can be a powerful marketing tool as it provides social proof and can help attract new guests.
Remember, the key to being innovative on social media is to be creative and think outside the box. Don't be afraid to try new things and see what works best for your hotel.
With HotelMinder, match with vetted hotel experts to solve your operational problems.
Online travel agencies (OTAs) can be a valuable source of bookings for hotels, but it is also important for hotels to focus on driving direct bookings to their own websites. Here are some tips for getting direct bookings from OTAs to a hotel website:
Forget about Metasearch; Google is where bookings happen. It’s also a good time to look a B2B Distribution, specifically GDS distribution, again and reach out to Tour Operators to offer dynamic packages.
Be ready: from subscriptions (ie: Tripadvisor.com), to deep discounts (booking.com); OTA portals are innovating where you can’t fight. They're thinking long term customer value - and so should you; therefore:
Long term customer value is an important concept for hoteliers to understand and prioritize. It refers to the overall value that a customer brings to a hotel over the course of their relationship with the business, rather than just the value of a single transaction. This can include repeat business, positive word-of-mouth recommendations, and other forms of intangible value.
Online Travel Agencies like booking.com have well understood the how meaningful long term customer value is and it is now time for independent hotels to fight back!
There are several ways that hoteliers can enhance long term customer value:
Overall, prioritizing long term customer value can help hoteliers build strong and long lasting relationships with their guests, leading to increased loyalty and repeat business.
With 15+ years of experience in supporting hoteliers in optimizing their operations and launching innovative hotels around the world, Benjamin Verot (a.
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