5 Ways To Increase Your Hotel Revenue In 2020

"How can I generate more revenues for my hotel?"

This is a question that all hoteliers are questioning. Hoteliers want to know how they can increase their hotel revenues, how they can fill their rooms, and make more money. The competition in the hotel industry is becoming fierce day by day. More new hotels are coming up. New technologies are being adopted to make guests stay more comfortable. All these actions taken by hoteliers are just to help them to make more money. Hotels are coming up on ways to retain their current existing guests and ways to attract new guests to their hotel. So, without further ado, here are 5 ways to increase your hotel revenue in 2020.

Read also: Hotel Sales Strategies To Boost Revenue

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1. Speed Up Your Hotel Website and Be Mobile-Friendly

It is expected that in this new era of digital technology, travelers will become more digitally savvy. In other words, the internet is a compulsory tool in the hotel industry nowadays. More importantly, most people especially Millennials rely on their smartphones all the time. Most of the guests will leave your website if your website is slow. There is nothing more frustrating than visiting a website and waiting for it to load. A slow website will not only discourage your guests from leaving but it will also prevent guests from coming back to your website. Not only that, but your website must also be mobile-friendly to cater to current trends where everything is now just at your fingertips.

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Some guests will leave a negative review about your slow website on the review sites. This will also hinder more guests from visiting your website. Remember, word-of-mouth marketing is very powerful. When guests love your website, they will tell their friends about it and why they love it. This word-of-mouth marketing could bring a bad reputation to your hotel and at the same are powerful enough to help bring more guests to you.  If your website is slow, just speed it up to avoid losing more guests. And make sure your website is mobile-friendly.

Read also: What Should A Good Hotel Website Have?

 

2. Encourage Direct Booking

This year 2020, to make more money for your hotel, you need to encourage direct booking. While online travel agents (OTAs) are currently receiving around 51% of bookings, direct bookings are predicted to grow to a 50% share by 2022. Irrespective of whether you're a budget hotel or a 5-star hotel, you are sure to face the low season. Instead of leaving your rooms empty, encourage direct booking from your website. There are some things you can do or offer that will encourage your guests to book directly from you. This can be discount, incentives, special offers, or loyalty points. You can also offer packages that can only be accessed from your website. Seasonal promotions like summer getaways is another example to attract travelers to stay at your hotel during the low season and enjoy the place at low crowds. All these actions will help to encourage your guests to book directly from you.

Read also: 4 Creative Hotel Package Ideas

 

3. Back-Up Claims With Social Proof

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These days guests do their research before booking from any hotel. There are a lot of lies out there. And one of the ways to verify the information is by reading what other guests are saying about your hotel. So, as a hotelier make sure you are getting testimonials and reviews from your guests. Also, make sure you are displaying these social proofs on the internet. This social proof will go a long way in convincing your potential guests to book from you.

Read also: Why Guest Feedback Is Important For Hotels

 

4. Use Social Influencers

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Influencers are becoming popular in the hotel industry. Hoteliers use them to promote their properties and increase their hotel revenue. You must find an influencer that identifies with your brand.

Read also: Influencer Marketing For Hotels - What You Need To Know As A Hotelier

 

5. Monitor Your Competitors

Another factor to look at when you want to increase your hotel revenue is to monitor what your competitors are doing and where they are heading to. Always know what are your competitors' next step, their pricing strategy, and whether they intend to increase or reduce their room rates. And find out what they are doing differently from you and how they win more guests.

 

Final Words

In a nutshell, if you want to increase your hotel revenue this year 2020 you need to make the most out of available opportunities that your hotel can offer. You need to get your team to think out of the box in implementing unique changes and providing new exciting offers. Stay ahead of your competitors and work smart to emerge as a winner in 2020!

Read also: Strategies To Increase Hotel Revenue


 

Softinn Solutions Sdn. Bhd. recently announce its partnership with the industry-leading Channel Manager - SiteMinder. Learn how we help hundreds of hotels better manage their business and increase direct booking sales.



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