Apart from selling rooms, hotels wish to maximize their revenue. But with many markets becoming more competitive, boosting revenue is easier said than done. Increasing room rates to broaden margins might be great during high season, but during the low season, high rates drive customers away. Instead of simply adjusting room rates up and down, there are many other ways for hotels to generate more revenue and create a better guest experience at the same time.
Quick ways to drive more revenue in only a week: Upselling, Using your local network and Involving employees
Ways to drive more revenue over a quarter: Improve guest satisfaction and online reviews, Leverage low-demand days and Host unique events and activities
Ways to generate more revenue in the next twelve months: Get familiar with Google Hotels, Harness the power of hospitality tech, Analyse your distribution and optimize it.
To come up with the coolest ideas on how to implement some (or all) of these ideas, get your team together for some brainstorming. You’d be surprised by the original concepts they’ll come up with and how much more ownership your team will take if they feel like they’re playing an active part in creating and implementing new revenue-generating strategies.