Maximizing the value of every booking

The hospitality world is rife with competition, be it billion-dollar companies or small local businesses. With that in mind, it is increasingly vital that the value of every book is maximized. There are loads of ways you can do this, this blog provides a three-prong approach:

Competitive pricing

Pricing is the first thing you think of when considering the value of each booking. There are loads of tools out there that will allow you to optimise your pricing, including PriceLabs. A simple way to achieve this is by sitting down (with a cup of coffee or glass of wine!!) and make use of our handy competitor pricing handout. This will help you to analyse your competitor landscape and price yourself accordingly.

Book Direct

Commission-free direct bookings are the goal. Channels are a great source of bookings, (one reason being; part of the commission you pay, pays for marketing the channel does on your behalf.) Embrace channels, without being totally reliant on them. Encouraging guests to book direct does take some commitment on your part. However, it doesn’t have to be loads of effort, here’s how:

• If you don’t already have one, a PMS (property management system) will free up your time and allow you to work more efficiently. SuperControl is a one-stop-shop, with a top-notch booking system with guest management and channel managing functionality.
• Create a content plan. Getting your brand out there as much as possible is super valuable. This doesn’t have to take up a big portion of your time, we would suggest using online tools to help you plan. Hootsuite is a great example of a free platform for content planning.
• Regular email campaigns and keeping in touch with previous guests is vital. You can use SuperControl’s database functionality to target your previous guests and get them to rebook.
• SEO is so important, checkout this handy blog written by Boostly guest blogger, Melisa Marzett which will help you make sense of it all.

The list goes on…The main point being there is a lot you can do to boost direct bookings.

Upselling

Upselling is the prime opportunity to offer your guest a more valuable stay whilst increasing your profits – it’s win-win! You can offer anything from a cot to a helicopter transfer from the airport to your property and everything in between. SuperControl makes it really easy to customise these, here’s how.

What type of things should you consider offering?

• Convenient things for your guests (e.g. fresh milk and bread on arrival).
• Unique things that guests can’t get elsewhere (e.g. local produce)
• Tailor your upselling to the guest. When you receive the booking, give your guest a call and get to know them. (e.g. if they have a young child you could offer pre-paid tickets to the local farm park)
• Collaborate with local business to promote their products.

Bookings are more than the property’s rent, guests can and simply want to give you more – let them. By offering things that will entice your guests to spend a little more cash you will give them, on whole, a more valuable stay and increase your profits.

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