This post provides insight directly from a member of our executive committee, CEO & President David Adelson.
I wanted to offer a few tips on using technology this holiday season to capitalize on opportunities for revenue intake.
To start off, revenue management is defined most simply as selling the right thing to the right customer at the right price and time. It’s a newer science, but one that is necessary with recent changes to the landscape of the hospitality industry. It’s harder than ever to know who customers are, what they want, and what price they’re willing to pay for it.
But what if guests could tell you exactly what it was they wanted? What if you could get reliable information pertinent to building a robust revenue management strategy fed directly to you?
Before many of today’s technologies became available to hoteliers, a lot of revenue management was manual and difficult to track. Most hoteliers lacked the resources to effectively track all of the factors that play a part in knowing how to maximize revenue. Now, digital systems can provide more information than ever, and they can do it quickly and without the same amount of manual effort.
It’s something that was never before possible.
As one example of a digital system providing such benefits, INTELITY’s platform offers simple tools that combine digital access to hotel services with features designed to provide information about guest activity and preference to improve a hotel’s operations.
Guests can place food and beverage orders through a mobile interface on any variety of devices, from mobile guest apps and in-room tablets to laptops, and these are communicated directly into a back-end platform accessible by authorized members of the management or staff without a need for manual data re-entry. Guests can also make reservations at any of the property facilities, such as a restaurant or spa, feeding more behavioral information into the system for hotelier review.
Being able to access insight about guest demand and resource usage is invaluable to a hotelier looking to increase profits. In fact, all of the business intelligence available through the INTELITY Staff platform is easily accessible and potentially beneficial to increasing revenue and adjusting strategy to better anticipate demand, which consequently increases satisfaction.
Here are two general tips for using technology to enhance revenue opportunities this holiday season:
1. Pay attention to guests
Most people use technology as a way to connect, and there’s no better way for a business to connect to its customers. Participating in conversations with guests via digital channels is important all year, but more than ever during the holiday season, which is one of the peak seasons for the industry.
Make sure to have staff assigned around-the-clock to monitor and engage with guests on all channels, from online review sites to your social media accounts. It’s a stressful time of year, so you want to make sure your team is providing enhanced customer service in the right tone to alleviate your guests’ concerns or thank them appropriately if they offer appreciation for you making their season a little brighter.
2. Offer gifts
It’s better to give than to receive, and who doesn’t like gifts during this time of year? And there are plenty of gifts that your guests would love. Don’t just limit this to special room rates, although those are always appreciated. Discounts to use at the property during a stay is another great offering. A percentage off a mistletoe martini or a room service delivery of roast turkey is an offering that will have guests in good cheer.
It adds value for you to make these special offerings through your website or mobile app to increase traffic and number of app downloads. It also provides an incentive for your guests to actively engage with you via mobile technology to establish a long-term connection beyond their stay.
I wish everyone a successful holiday season, and if you want more ideas on increasing revenue all year long, schedule a demo with my team to get information about the latest innovations in hospitality technology, from mobile keyless room entry to in-room guest service tablets.