How to maximise your hotel revenue

Monica Or, columnist and Hospitality Consultant at Star Quality Hospitality Consultancy discusses how having 100% occupancy is not necessarily a benchmark for increasing revenue..

With ever increasing competition, hotels are always looking at ways to increase their hotel revenue. The most obvious one is to have a full hotel, although at what cost?

It is great to have a hotel running at 100% occupancy, although realistically this is only as good as the average room rate being driven by this. Many hotels have different strategies to fill their rooms which may include dynamic pricing, and over booking. Although what affect does this actually have on your guest?

Put yourself in your guest’s shoes. Guests will shop around for a good hotel deal, although their perception of what is a good deal, is not just about the price of the room. If you want your guest to return, you have to think about the whole experience you are creating for your guest and how that experience makes them feel valued.

Guests who have an ‘okay’ stay will not be satisfied because everything was just ‘okay’. More than likely they will not return, because there was nothing special about their experience.

Guests who have an excellent stay are more than likely to return, because they will want to have that experience again. They may also tell their friends about how great it was too.

So how do you create this experience? By looking at the whole of the guest journey – online and offline.

Have a go at answering these questions:
– How easy is it to book your hotel online?
– What sort of welcome do you give your guests when they arrive?
– What makes your hotel rooms unique?
– How do you know what your guest wants?
– How do you deliver a memorable service?
– What amenities do you have that your guests value?
– How do keep your guests on property?
– How do you interact with your guests?
– How do you say goodbye to your guests?
– What experiences are you creating for your guests?

Every guest is different and so the experiences they have will also be different, based on their preferences, their lifestyle and their budget. When guests stay with you, you need to be able to tap in to this to find out their expectations and how you can exceed them. One way to do this is to make them feel valued.

If you want to maximise your revenue, focus on your guest rather than just your bottom line. Look after your guest, and the rest will follow..

About Monica Or: As the founder of Star Quality Hospitality Consultancy, Monica specialises in working operationally with the owner/managers of independent hotels and restaurants focusing on their business structure and service delivery. She is the Amazon Best Selling author of ‘Star Quality Hospitality – The Key to a Successful Hospitality Business’ and ‘Star Quality Experience – The Hotelier’s Guide to Creating Memorable Guest Journeys’.

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