Are you really making the most of what your property could offer? Or are you simply missing out on earning those extra bucks per booking? In this blog post we’ll cover some tips and things to consider when it comes to maximizing the value of each booking and your property’s occupancy. Keep reading to learn about some of our recommendations on actionable things you can get started on today to maximize your occupancy!
1. Understanding the current state of your business
To figure out the path forward it is important to first map out the current situation, so you can bring reflections and insights into the more actionable work.
Guest analysis:
Identifying who your current guests are and who you are not yet reaching, with a goal to understand and expand your target demographics. What regular guests do we have and what are their preferences? And how could we possibly adapt and tweak offerings to make our property’s offers appeal to a different audience?
Value and satisfaction:
Determining which guests bring in the most value and satisfaction and addressing the needs of those who are dissatisfied to improve the overall service quality. One important tool in figuring out what satisfies the guests and not is to continuously review guest feedback from your own send outs or different websites or such as Google, TripAdvisor, Booking.com and Net Promoter Score (NPS), or through BookVisit Reputation Management Platform.
“Knowing where your business stands and who your guests are is key. By understanding guest preferences and expanding your audience, you can increase occupancy and revenue.”
Malin Larsson SaloAccount Executive, BookVisit
2. Tips on how to maximize the occupancy and profitability of your property
Be creative in the utilization of spaces
Explore non-traditional uses for hotel rooms and conference spaces. For example, one could turn rooms into creative workspaces or venues for social events (weedings, birthday parties for example), business meetings, concert venues, photoshoots or exhibitions for example.
Reflect on how different spaces like spas, gyms, and outdoor areas can contribute to more value per guest as well. Can you maybe offer some treatments in the spa section or offer the guests tennis lessons on the outdoor court? Maybe you have some extra space in your lobby where you could place a shuffleboard to give more value for both the guest and your business.
Upsell & package
There’s great potential in creatively upselling and packaging what your property offers. Consider putting together tailored packages that can attract more guests during typically low occupancy periods. For example, why not tempt guests with a Sunday and Monday package that encourages them to extend their weekend stay? This could be especially appealing for those looking to escape the Monday morning rush.
Get creative with combinations that add value to a guest’s stay, such as spa & brunch or yoga & lunch. Think about what special packages and offers that might appeal to different groups like seniors, business travelers, local people in the area, people who commute or couples.
Special offers
Don’t forget to leverage special offers like last-minute deals, early bird specials or have special seasonal offers. These can be effective in boosting bookings by offering discounts and special rates to guests who book early or fill in gaps at the last minute. These strategies not only help in filling rooms but also in building a base of guests who may return or recommend your property to others due to the value they’ve received.
Don’t forget about your reputation!
Make sure that you use your destination’s reputation and adapt services and offers accordingly and when possible. To ensure that you stay aligned with guest expectations and market trends is essential to increase the chance of higher profitability and occupancy.
“Creativity is key in using your property's spaces and creating special offers. By thinking outside the box, you can turn rooms into unique venues, offer different activities, and make packages that boost guest experience and revenue.”
Linda OdingeCustomer Success Manager, BookVisit
Conclusion
This article has provided insights into the importance of reflecting on your current guest clientele and tapping into your perhaps unexplored business potential. Also, it’s clear that thinking outside the box is key to uncovering new revenue opportunities for your property.
