HOW TO INCREASE HOTEL REVENUE?

• 21st September 2023
• Revenue Management

Every hotelier faces the challenge of how to increase revenue. Engagement in day-to-day operations could make it difficult to have a bird’s eye view. Income can be generated through room sales as well as through exploring some of the best options.

Consider Upselling Options

Generating income through room sales should not be the only focus. The Hotelier should also consider other ways to increase hotel revenue. For instance:

Spa/salon services

Restaurant

Seasonal offerings

Netflix/streaming packages

Room service

Upgrade Almost Anything

Train your staff on how to implement your upgrade program.

Creative ways for upselling your guests

Offer special services on holidays, like Independence Day, Valentine’s Day, Dura Puja, Christmas etc.

Create a discounted rate structure for longer stays.

Show Guests pictures of better rooms using a tablet or iPad. It gives a much more enticing glimpse of what’s on offer.

Membership Programs

Offer membership programs that offer benefits to guests for their frequent stays and upgrades.

Direct bookings with Booking Master’s Booking Engine

Direct bookings generate the most revenue since there are no agents/distribution partners that must be paid a commission when a guest books the room directly from the Hotel’s Website. Prioritize social media strategy when focusing on increasing direct bookings.

Destination Marketing Campaign

In this, local businesses collaborate with the Hotelier to promote the region as a whole. Result: The inbound tourism markets are targeted resulting in a drive-in demand and higher revenue.

Cross-promotion

Hoteliers can promote their brand at concerts, music or art festivals, and major events.

Run a Loyalty program

This could include rewards for staying frequently/Rewards for purchasing upgrades, and finally Rewards for referring your property to friends and family members.

Revenue management

Drop room rates during the off-season in order to encourage bookings and increase the rates during a full season.

Optimise OTAs

Provide high-quality photos, engaging descriptions, and up-to-date information about your hotel’s amenities and services on platforms of Online Travel Agencies (OTAs) such as Booking.com, Expedia, and Agoda to improve your ranking on OTA search results so that your hotel is more visible to potential guests.

Consider Re-marketing

Guests nowadays explore their options by doing thorough research by visiting a number of different websites. If potential guests have visited your site and have not finalized their booking access these customers again at different websites and nudge them with offers to visit your website again to book with you.

Co-Promote

Build partnerships with local restaurants, adventure companies, adventure sports companies, car service companies, etc.

Sales and Marketing

Drive sales with amazing visual advertisements, videos, unique selling points, virtual tours of your hotel, etc. Other methods: Connect with influencers, link with local businesses, focus on creating user-generated content and reviews, humanize your Hotel brand, incorporate discounts with eye-catching promotions, offer promotions around honeymoons or anniversaries [if your Hotel is located in a romantic place], offer promotions around relaxation experiences like spa and water sports [if your Hotel is located in a coastal region], offer promotions around adventure sports like paragliding and hiking [if your Hotel is located in the lap of mountains]

Partnership promotions

Partner with other businesses, for example, restaurants, cinemas, sporting adventure, and tour guides.

Hotel Sales Software

Use technologies like Booking Master’s channel manager, online booking engine, and Revenue Manager- the sure shot way to have supernormal profits.