There are multiple options to consider before you implement such an offer. This is a two part post discussing these strategies which can be implemented easily and it will lead to increase hotel revenue and build long term business.
1-Test Your BAR Pricing: When you change your BAR prices monitor the change in your bookings. Based on the response you will know what the market is willing to pay for a room at your hotel. Don’t think about what everyone else is doing. Check what is working for your hotel.
2-Try A Short Term Sale: Try an offer which has limited booking period. Do a 48 Hour sale. If you are worried about corporate rate impact then start it on a Friday evening and run it until Sunday night. Protect the corporate rate business.
3-Incentive On Small Meetings & Groups: This is a tactic we can always use but it is dependent on seasonality and it can yield some great results based on how established your group market segment is.
4-Invest In An Upsell Program: This can be at the Front Desk or give the visitor an opportunity to upgrade the room at a discount during the booking process or after the room has been booked. This is a source of revenue that a lot of hotels are not exploring.
5-Special Offer Outside Booking Window: Check the booking window of your property and offer a deal outside the booking window. For example if your hotel has a 14 day booking window then you could offer a 14 day advance purchase offer.
6-Eblast Offer: Do an eblast to your email database. The timing of the offer and what the offer is always the key. For example, if you were to send an email offer right now that talks about shopping for Christmas then it is a relevant offer. Always be clear on what the guest is going to get and time it according to the season.
7-Geo Target: Segment the email list and offer something relevant to this segment. Keeping the offer relevant is the key.
8-Market Segmentation:Break your segmentation down even further by building a guest profile tied back to the offer they booked previously. For example, if there were guest who only stayed on weekends then offer them a weekend getaway in your promotion.
9-Value Add Offers:When you are deciding on what offer to promote or just simply drop prices to get rooms think about doing value adds. Why? This can make the offer more attractive. For example if you did an offer where your B&B is $10 more than BAR you are pushing the person towards buying this offer. You can also apply this to parking. If a guest is coming from a city within a driving range then a complimentary parking offer will make it more compelling for him/her to book.
10- “Staycation” Offers: More and more people are taking quick weekend getaways but these getaways are just stayovers in a hotel in their local area. This could be for some special occasion or just them just taking a break from day to day life. Focus your offer on this local market with an offer relevant to them. This could be a value add offer like parking, breakfast or an “backyard” offer which attracts a this market to you.
These are only few of many options available to you when you are thinking about doing a sale that last 2-3 months. If you do a long term discount keep in mind that becomes the price of your property and not a discount. In my next post I am going to talk about some more strategies that you can apply.
What are some of the strategies you have applied that worked well? Let me know in the comment section.