The hotel industry has never been more competitive than it is right now. Hotels that merely continue with older, more traditional means of doing business may now, if not in the near future, find themselves “on the outside looking in.”
New technology, management, and marketing strategies now being implemented by many independent and chain hotel establishments are helping these hotels stay “above the curve” from the standpoint of visibility and public recognition. If a hotelier believes they need to upgrade perhaps their scope of goods and services they can offer to remain competitive, there are several means to do so.
Bring in Hotel Asset Management Consultants
With hotel owners and management overseeing a myriad of different responsibilities daily, it would be prudent to bring in professionals whose job is to maximize returns from hotel assets specifically. One that will evaluate the operation fully and make solid recommendations on improvements that can be made in:
- Cost Control
- Strategic Plans and Budgets
- Guest Satisfaction Programs
- Asset Protection and Enhancement
- Other recommendations in every operational and financial area
Utilize Social Media
Like it or not, a social media presence is not merely a luxury anymore; any successful business needs to have it. A simple website or page outlining the company with photos and relevant operational information is critical now. Hotels that have such sites need social media to, at the very least, stay moderately competitive in their location. The bigger and better the site, the better chance for enhanced exposure, and consequently, the better chance for increased occupancy.
Aesthetics is Immensely Important
Trying to make the public areas as attractive as possible to potential guests can pay considerable dividends in increased business and revenue. A clean, uncluttered, visually appealing location can really help the location stand out above others “down the road” who may not place as much emphasis on visual aesthetics. We are a very visual society; the better something looks, the more people trust in having a positive experience with it. It really can be that simple.
Offer Regular Specials
Deals throughout the year generate revenue; standing firm on prices in most cases does not. Quite simply, empty hotel rooms earn the owner nothing. Maximum room occupancy is, of course, critical. Sell the room even at bargain rates. Something is better per night than nothing at all.