Several vacation rental startups like Airbnb, HomeAway, OneFineStay have entered the market since, bringing about a revolutionary change in the lodging market and giving hoteliers a tough time coping with the consequential reduction in their market share. Hoteliers must cope with the change.
The Hotel Revenue management role is continuously evolving, getting more comprehensive with time, they delve down into various key functions, wearing multiple hats. However, as technology continues to make a deeper impact in our lives, lending a complete makeover to the industry, the question arises whether revenue managers would continue to play the leading role that they do now?
A great way to run offers and promotions is to target past guests of your hotel. In order to do this, you must be sure to collect the email id of each guest that had stayed at your hotel. Remember you must obtain the guest permission for email marketing so ensure that you give them this option to receive promotional emails from the hotel.
Hoteliers, when considering using value adds to attract guests, make sure you understand what guests are looking for and make the offer attractive enough to entice new guests. Perhaps you are looking to attract more long stay, leisure guests during the traditional business travel period or drive more corporate business during slower months.
3 – Star Hotels: 8 cities had less than 10% of hotels in Parity out of a total of 11 cities surveyed
4 – Star Hotels:10 cities had less than 10% of hotels in Parity out of a total of 12 cities surveyed
5 – Star Hotels: 10 cities had less than 10% of hotels in Parity out of a total of 12 cities surveyed
In part 1 of this blog series “Managing Seasonal Market Changes to Ensure your Hotel Stays on Top”, we discussed Seasonal Distribution and gave some tips on diving into analytics and setting up successful strategies. In Part 2 of this series, we are going to discuss “How You Can Maximize Your Room Type Sales for Each Season”.