The world economy is arguably facing the most challenging downfall due to Covid-19. The ever-booming hotel business is badly hit as it is directly linked to travelling. It will be beneficial for hotel managers and owners to adopt innovative strategies.
You might want to revamp your promotion strategies, record maintenance system, and vacation packages. I am here to guide you step by step for not only survival but to thrive in current crisis.
- Focus on your distribution channels:
Limiting distribution channels is a common mistake made by most hoteliers and managers. This is the time to forget about your commission or pay parity. You need to fill your inventory anyhow! Your greed of saving commission payable to OTAs and agents will cost you huge revenue loss. These are the channels that can reach most people. If you are not trending on channel managers, some other hotel (probably your competitor) is trending there for sure. This is dangerous for your relevancy in the market. A hotel channel manager can help you manage all your distribution channels in one place and gather all the data you would need.
- Entice the Locals
People are desperate to go away for a vacation. But the fear of the virus and financial crunch may prevent them from choosing a faraway destination. Give them an option nearby and make it a comfortable drive-in trip. It will be more money and a time-consuming option for them. Advertise your Covid safety measures along with your comfy rooms, spa, pool, spread out a buffet, and whatever they can’t get at home. Who would not want a pocket-friendly leisure weekend!!
- AI-Driven Hotel Revenue Management Software
You must have an AI-driven hotel revenue management software. It will minimize all your staff’s manual check on the rates and inventory. It will automatically calculate the rates of weekdays, weekends, holidays, and offseason. It can even change your rates multiple times in a day according to the surge and competitor’s rates. This small investment in artificial intelligence will give you immense benefits in the future.
- En-cash the Existing Pool of customers
I am hoping that you have the CRM system in place. Call, email, or massage your existing customers. Let them know about your Covid safety practices, your ongoing discounts, and offers. Give priority to your loyalty membership holders. If possible, provide them with some extra benefits and freebies. There are two benefits to this practice. They will give you an immediate increase in revenue, and they will also boost your word of mouth in the market.
- Social Media Marketing
We live in a world where trending on social media is crucial for all businesses. When it comes to the hotel business, social media update about your every movement becomes more vital. First of all, are you open or not, and is there a new operating time? Advertise the discounts, offers, and freebies going on. Your post-Covid safety practices should also get highlighted. Be active on social media! Post pictures! Contests! Make connections! This will make your market more dynamic.