Simple Ways to Increase Your Hotel’s Income
Whether you have a 10 room or a 1,000 room hotel, there are always improvements that can be made to increase your income. In an era where one negative review online can damage years of hard work building a good reputation, it is important that hotel management do not rest on their laurels and are constantly finding ways to improve the business. The purpose of all hotels are the same: offer accommodation with the goal of profiting. In order to do so they need to keep room occupancy high and have guests spend on extras and amenities such as the hotel bar. With this in mind, here are a selection of simple improvements any hotel can make to increase their income.
1) Entice your guests to stay longer
This may be by offering discounts on stays over a certain amount of days, or just plain informing them that their stay can still be extended if there are no booked guests immediately after them. Not only will this increase your occupancy, but this will also reduce turnover and therefore the room will not need to be cleaned and made as often, saving you money.
2) Implement room booking systems
Surprisingly there are still hotels out there who keep all records on paper rather than digitally. In this day and age this is very inefficient and prone to mix-ups. By switching to a digital system not only will you be able to attract more guests, but you will also be able to safely and accurately keep track of all the costs associated with their stay, allowing you to better analyse and improve the business with room booking systems.
3) Promote extra space as “multi-use”
If you have a conference room or lounge area that is often idle, it is time to revive it and market it as a multi-use space good for different types of events. The aim is to maximise the use of potential revenue-generating spaces, and this requires you to be creative. What may not have immediately seemed obvious to you that could be revenue-generating, could be the perfect space for a pop-up art gallery or meeting room.
4) Create package-stays
Take a leaf out of the old-school packaged tour companies and create packages for your guests that include extras such as spa days and fitness classes in the gym. Not only will you be increasing the spend-per-guest, but you will also be revitalizing areas of the business that may not be doing so well alone.
5) Reach out to guests through marketing
If you aren’t spending enough on marketing, then you shouldn’t be expecting much in return. Hire a social media marketing manager to coordinate with your operations, to reach out to potential guests through advertisements and email mailing lists. The accommodation industry is very competitive, especially given the rise of Airbnb, so it is imperative that hotels understand investing in marketing is key to ultimately, increasing their income.