Having a consistently healthy occupancy rate is important, but there’s so much more to increase hotel revenue than simply selling rooms.
As well as maximising those all-important up-selling opportunities, there are plenty of other strategies you can adopt to boost your hotel revenue.
From hosting murder mystery weekends to making sure your communal areas are fit for remote workers, we provide the latest industry tips and tricks that can help make every inch of your hotel work to its full capacity.
1. Make the most of communal areas
Modern hotels are not all about simply bed and breakfast. Millennials, whether they happen to be freelancers, entrepreneurs, or busy employees working remotely, are more likely to choose to spend time working in hotels than previous generations.
To maximise the appeal of your hotel communal areas, make sure they go beyond simply having super-fast Wi-Fi. You can achieve this by:
- Ensuring the space is visually appealing and comfortable, with plenty of plug sockets or USB ports.
- Equipping the space with large TV screens, which can be used to screen the latest news or current affairs.
- Offering attractive deals on coffee and snacks.
For more inspiration, check out Guestline’s guide to co-working here.
2. Smart upselling
If you’re only relying on initial point-of-sale upselling, you could be missing out on some serious business. Contacting customers pre-arrival on the days leading up to their trip offers a wealth of potential. UpsellGuru, for example, is specifically designed to maximise those all-important cross-selling opportunities by effectively engaging with guests prior to their visit.
If your customer has booked a standard room online, UpsellGuru will send them an email with your hotel’s branding, inviting them to bid for a deluxe room upgrade. You can then review customer bids, decide if they are reasonable, and then either accept or decline the customer’s offer. This allows you to minimise the number of free upgrades your hotel gives away, saving you a considerable sum in the process. The system can also be used to offer customers discounts when they pre-book bottles of Champagne, or meals in your restaurant.
Likewise, Oaky, the commission-free pre-arrival upselling platform, recently launched a collaboration with Guestline, to offer our hoteliers a one-way integration between the systems. This allows hoteliers to send customised upsell deals to guests before arrival. To ensure optimal results, guests are segmented depending on their profile information, and they receive targeted offers they can use to personalise their stay.
3. Connect the guest journey
During busy periods, taking customer payments for food, drink, and other services can be both time consuming and difficult to keep track of. By integrating an electronic point of sale (EPoS) into your hotel’s infrastructure, you can take payments in a fast and efficient manner away from the front desk, whether you happen to be on the bar terrace or in the restaurant, and/or charge the cost back to the guests’ room if they’re staying.
An EPoS system not only allows you to accurately capture each and every customer transaction, but integrates seamlessly with your property management system (PMS) to connect the guest journey. That means you can gather real-time transaction details, restaurant footfall, table waiting times and other useful data – as well minimising lost revenue.
The HRH Group have benefitted from streamlining their bar and restaurant operations with Guestline’s integrated EPoS and PMS. Simon Cotton, Managing Director at HRH explains, “With Guestline EPoS, creating new entry lines with price changes is a lot simpler and easy to do. The system is fully integrated with the PMS to allow cross charging back to the rooms where guests are staying (hotel and apartments) from the bar and the restaurant.”
4. The gift of convenience
Gift vouchers are an excellent source of revenue for hotels – they’re a fantastic way to engage with guests and get them to encourage their family and friends to book with your hotel. As well as offering them at your front desk, digital gift vouchers can give you a massive sales boost.
A gift voucher platform, such as Gifted, gives your customers a swift and streamlined service where they can order vouchers on their mobile devices in moments. The Gifted platform also allows you to sell tickets for hotel events, and it can post tickets or gift vouchers to customers if need be.
Emma Palmer, Sales and Marketing Manager at Merchants Manor, adds “Gifted is an outstanding gift voucher platform, simple in design and simple to use. It's great for staff and guests alike and its innovative tools and analytics makes gift voucher marketing easy.
The results speak for themselves with the average spend up by 23% across the latter part of last year and an increase in sales over the festive period by a staggering 29%."
5. Make your food and drink irresistible
The rise in digital has been a blessing for the hospitality industry in many ways, but it can also be a curse. Finding local restaurants is easier than ever, and there’s a good chance your guests will have researched the surrounding area online long before they check-in.
By having a good understanding of what’s available in your area, you can devise offers and deals that your guests will find irresistible. This could be a free bottle of wine or a 40% discount on pre-booked meals in your restaurant.
If you’re still hoping for more footfall, perhaps have a look at updating your menus in-line with the latest food and drink trends and seasonal offerings.
6. Create memorable events
Modern hotels have become savvier when it comes to hosting events, which can considerably increase footfall and attract guests from both near and far. Whether you look to arrange a regular murder mystery night or weekend or offer a themed party to complement a major event taking place in your town, there’s no limit as far as creativity is concerned.
From streamlining your revenue channels to freshening up your food offering or communal areas, there are several ways to boost your bottom line and help your reach new heights of excellence. Get creative and make sure you have the systems in place to do as much of the mundane work as possible to free your staff to spend time with the guests.
If you wish to speak to a member of our team on this, please email us on firstname.lastname@example.org.