Over the last ten years, the hospitality business has experienced tremendous expansion.
True, the hotel industry is difficult to ignore. However, it is also difficult and stressful because a variety of factors, such as seasonality and competition, can have an impact on this industry, adding difficulties. Hoteliers must consider many factors in order to consistently exceed customers’ expectations and keep them coming back.
As a result, how can hotel revenue be increased? Here are some ideas that you can implement right away to assist you enhance your hotel’s occupancy rate and drive bookings all year.
Hoteliers must accommodate to the various personalities, profiles, needs, and expectations of their guests. The importance of shared spaces and social interactions to Millennials and Gen Z, for example, has given rise to a new urban boutique hotel, while busy business travellers and digital natives demand the incorporation of time-saving technologies. When it comes to the latter, people respect innovations since they add value by allowing for greater personalization, convenience, and control. You should establish hotel guest personas and customise messaging to them since it is critical to understand who your guests are and why they have chosen to reserve a night in your hotel.
Hoteliers must get to know their guests and use this information to provide customised experiences throughout the journey. And if this goal is met, they will return.
Second, you may gather and evaluate comments while also making it simple for visitors to give a review. According to TripAdvisor, 53% of travellers would not book a hotel that did not have online reviews. Happy customers leave more favourable evaluations, so encourage them to tell others about their stay at your hotel. A number of solutions are available to hoteliers to help them automate the process of soliciting feedback.
AI, virtual reality, facial recognition, the Internet of Things, blockchain… New technology and innovations are improving customer service and opening up new avenues for interaction with guests. They are reshaping the hospitality business in ways we cannot yet imagine. It is obvious that hotels should keep this new technology trend in mind because it helps raise the property’s value and returns, increase income per available room, cut operational expenses, and provide higher occupancy percentages. You may be wondering how you can make technology work for your company.
Take a look at our smart hotel solution https://smarthotel.sg/hotel-automation-solutions/
Cancellations are common in the hospitality sector. Hoteliers should shore up business, whether it is due to global developments such as unrest in elections and natural disasters, or to harsh competition.
Find out what makes your hotel unique to your customers, what they like the most, and what sets you apart from the competition. Then you must publicise it on the hotel’s website, social media, and marketing efforts.
Hoteliers must also ponder long and hard before making changes. Seasonality, demand, submarket supply, client segmentation, events, local legislation, and other external factors must all be considered when pricing rooms to assure revenue growth. As a result, hotel management should devise tactics and distribution plans to keep hotel bookings ahead of market swings.
Today, the hotel business is expected to grow at a high pace in the coming years. We invite you to discover more about our hotel automation solution, which may help you create new chances, build lasting client relationships, achieve new heights, and increase your sales and income.
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