HospitalityNet Contribution: Creative Revenue Management: How Can Hotels Sell their Spaces in Time of Crisis?

https://www.hospitalitynet.org/panel/125000122/126001194.html

Every square metre can potentially generate extra revenue for a hotel, but many properties keep only strategizing the bedrooms’ revenue.

Ideas? Here are a few:

• Pre-arrival:

Upsell rooms and added value packages and items via app and mailing, with tools such as Oaky or UpsellGuru

Review your room inventory. Some could be some like “serviced apartments” concept

• On stay:

Implement a holistic approach to upsell and cross-sell: everyone is a salesperson. Front Office, F&B, Spa, Reservations. Every team member must have a sales approach.

Utilize tools such Hoteligy to position last minute offers to guest staying several days/ utilizing outlets (i.e.: If they’ve booked a restaurant, the web app positions a bottle of wine at a discounted price).

Sell empty Suite-living rooms as private dining rooms.

Market unused meeting rooms as coworking facilities.

Make sure menu engineering and F&B revenue management is implemented. DynamEat is a great tool.

Maximize the revenue at your restaurant, implementing KPIs such as RevPASH (Revenue per available seat/hr). Work on your space efficiency.

Utilize idle space during restaurant closed hours as working space.

Measure your Spa’s team productivity, making sure the SRevPOR (Spa Revenue per Occupied Room) is maximized.

• Community:

Work to make your Hotel the local hub for groups, associations, clubs, etc… to organize their gatherings at your place.

Sell daily passes to neighbors to your pool, spa,…

Place your parking in online apps, to be used by non residents too.