Creating Efficiencies and Adding New Revenue Streams for Hotels

Posted by Amie Darboe on Jan 18, 2018 12:54:34 PM

With hotel labor costs and competition in the lodging space steadily increasing, hotels aiming to win market share understand that increasing guest satisfaction helps their bottom line. Accomplishing that goal is often easier than many hoteliers know. The following 

tips show you how to reduce costs while increasing guest satisfaction.

Deploy New Technology to Reduce Face Time

fashion-person-woman-hand.jpgSending pre-arrival information via emails or text messages upon registration, allowing for mobile check in and implementing text message concierge services helps guests feel more aware and taken care of while they're at your property. Additionally, this takes the burden off of your staff to have to check in with every guest face-to-face throughout their stay. Guests can control their experience from the devices they already carry around with them all the time, reducing unnecessary time spent waiting in line or on hold.

 

Promote Unique Benefits You Offer at Your Property

What does your property offer guests that your competitors don’t? Have you recently renovated all of your rooms? Does your spa provide unique products and treatments? Do you have special events, like cooking classes with your chef, that your guests can attend?

If there’s something particularly interesting that differentiates your property from your competitors, making sure to highlight those things to your guests —including prior to reservation via your website, through the confirmation email guests receive, and when they check in—will increase their likelihood to want to stay with you (again).

 

Use New Incremental Revenue Streams

pexels-photo-221534.jpegHotel property management companies want to increase revenue. However, finding the right new revenue streams is more often than not a challenge due to the opportunity costs associated with testing out new avenues for growing a property's profitability. Adding new incremental revenue streams like using concierge booking tools or a platform that enables your guests to book local tours and activities where you earn some revenue share is a low cost way of simultaneously improving the guest experience and increasing revenue.

In addition to providing your guests with a better experience, hoteliers who use any of those tips are likely to see an increase in money in the bank. 

 

Tags: Business Advice, Marketing Tips & Tricks