9 Ways Hotels Can Increase Their Bottom Line

People first, then money, then things. Your guests and employees come first, and then

you need to manage revenue and costs. Followings are 9 ways how to increase the revenue.

 

1. Make your guests feel at home

Let your hotel be their home away from home. Soften the decor by adding comfortable

furniture, flowers and pictures on the wall. Create a lobby and a breakfast area with

comfortable seating areas for your guests to feel like home.

 

2. Focus on perceived value

Guests are usually willing to pay more if they feel like they are getting more value. If your

property is at least 4-star, many guests will take a value-add instead of a price discount. Learn 

how to identify which customers are willing to pay more and which are not.

 

3. Word of mouth

Your satisfied guests are a great source for new customers. Encourage them to refer friends

and family to stay at your hotel by giving them various incentives like a room discount on a

future stay, free dinner, or perhaps, a gift card.

 

4. Market directly to the guest

The personal touch is always a good way to reach out to past guests and encourage them to

stay with you again. Today, social media and technology make it easy to talk to your past and future guests. Publish a hotel newsletter, and add great current content and offer incentives that are available by subscribing to the newsletter.

 

5. Acknowledge your employees

Your employees are ambassadors of your hotel. Being good or bad ones depends on how you

recognize them for their achievements and appreciate them for their effort. Happy and friendly staff will attract loyal and repeated guests to the hotel undoubtedly.

 

6. Reward employees

If an employee comes up with a good idea that will help generate more revenue or lower

expenses for your hotel, recognize and reward that employee. When employees know that they are appreciated, they are willing to work hard and look for ways to improve the hotel.

 

7. Be creative

If a guest has an unusual problem, be creative to find a good solution. If you see something

not quite right, be proactive and fix it before it leads to a complaint.

 

8. Host function and event

If you have the space, you can do everything from holding a training session or business

gathering in a conference room to being the venue for a wedding on the grounds of your hotel.

 

9. Get ranked higher

There is a big difference if your hotel goes from a 2-star rating to a 3-star rating in a popular hotel rating service. More people will want to stay at your hotel and you probably can raise your daily room rates based on your higher ranking.

 

‘The customer is always right’ is not just a catchy phrase. It's the most fundamental rules of

the hotel business. If your guests are satisfied, it will pay positive dividends, and you will win their hearts forever.

 

Source: http://www.hospitalitynet.org/news/4080776.html

https://hmghotelsblog.com/2013/11/05/30-ways-hotels-can-increase-revenues-decrease-costs-and-boost-their-bottom-line

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info@jasminepalacehotel.com

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