With so much focus on getting heads in beds amidst the constant drama of COVID-19, hoteliers can forget that there are other profit makers built into their properties that need their attention.
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It’s clear that guests want to travel, to visit other places, to sit face-to-face with friends and family without being separated by a hazmat suit. But some parts of living life online are… pretty great, actually.
Combining revenue disciplines (sales, revenue, distribution, marketing) under a unified structure can help hotels pivot to be more efficient, stronger and more resilient in recovery.
As a former hospitality strategist turned technology provider, here are a few principles I would recommend hoteliers apply based on my learnings.
A look at one management company that saw the downturn as an opportunity to ramp up its regional sales efforts, getting a step ahead of the competition, and has reaped the rewards.
Shifting revenue and marketing strategies enabled this hotel to exceed budget in the summer of 2020 and go from 4% to 81% occupancy.
Even without conferences or corporate guests, there remains several prominent reasons for FITs and small leisure groups to book rooms during the traditionally higher occupancy weeks this holiday season.
Those who believe in the future of revenue management understand that, while success will require hard work and a massive paradigm shift, innumerable riches are waiting to be found.
Physical distancing outweighs enhanced cleaning, and the concept of furnished suites might be the accommodation industry’s sweet spot. Look for more growth in this area and more bona fide competitors for Airbnb.
With the reality of our new world, attribute-based selling can give hotels a competitive edge when travel returns.
