The hotel industry has evolved at a tremendous rate and will continue to on the same road. In fact, the rise in technology and growing trends have made a significant impact on its evolution.
Following are trends that are driving changes in hotel booking market and should be used as future strategies.
More focus on profit management
A large number of revenue managers have come to a conclusion that their focus must be on increasing profits with some new techniques. As of now, they have been using the total revenue per available room (TrevPAR) and revenue per available room (RevPAR).
They are now considering gross operating profit per available room (GOPPAR) to be the main key performance indicators (KPI). With GOPPAR manager will be able to explore more effective revenue management strategy and increase profits.
Website brings in direct bookings
Hotel websites create a channel for customers to come in direct contact with the hotels. One of the most key benefits of the website is that it increases brand loyalty and generates repeat bookings.
Take a moment to understand, why must a guest book directly a website? What advantage do they get from you instead of going to the OTAs?
Well, when a customer visits the website you can also use this opportunity to upsell other services and offer attractive deals to maximize profits.
Leveraging popularity of OTAs
The popularity of OTAs cannot be ignored. These sites bring together all the hotel information on one platform and let travelers compare all the options and make reservations.
OTAs have an extended reach, so as an hotelier you must leverage this popularity to your advantage. So a good strategy is to distribute room inventory on OTAs that bring high occupancy. Therefore, it is essential to represent the value of rooms clearly on OTAs and on the website.
The trend of mobile-friendly website and online payment
All most 50% of website traffic is from mobile devices. If your website isn’t responsive then you are definitely in trouble. At the same time payment gateways such as PayPal are the best examples of how easy and secure it has become to make stress free online transactions.
The whole booking process from visiting the website, selecting the rooms and bookings dates, the booking button all of these parts of the website should be accessed comfortably by mobile users.
Lastly, the payment process should be seamless and smoothly operated at the end of the booking process. All of these aspects will make your customers happy which is missed by thousands of other websites. Thus it leaves a good impression on your customers and they will look forward to the good guest experience on your property.
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