Investing in new tools for groups and meetings is easier said than done for hotel properties. The event tech space is crowded, budgets are limited, and, at the end of the day, the hospitality industry is a service industry not a tech industry. As a result, many branded properties are still using legacy systems that date back as much as thirty years.
Unfortunately, as the events industry rapidly scales in complexity, sophistication, and demand, these legacy systems leave properties and chains lagging behind in a fruitful space for revenue generation. Meanwhile, the advancement of hotel software has led to an array of products that drastically improve service through technology.
Today, a combination of state-of-the-art tech and service-focused team members is the key to an appealing offering and optimized group sales strategy. So to help you properties dig through a saturated market and make the most of limited budgets, we put together this guide to the five must-have tech tools that generate strong meetings ROI.
- Venue Sourcing Engines
- RFP Management Technology
- Revenue Management Technology
- Event Management Technology
- Hotel Marketing Software
Here are the five hotel software solutions properties and even venues need for group business.
1. Venue Sourcing Platforms
In a nutshell, these marketplaces link planners directly to hotels and venues — almost like an Airbnb for meetings. Planners can submit RFPs to properties which are able to attract these leads through info-rich property listings which include elements like floor plans, photos, and services. They provide direct access to networks of thousands of planners, giving hotels an exponential boost in visibility. Especially when it comes to a millennial audience, as the demographic of users tends to skew younger and more female.
It’s also important to note that true sourcing platforms aren’t akin to OTAs because they don’t act as intermediaries by charging commission. (Though some in the industry do charge commission or other fees, so do your research.)
Why do properties need the tool?
Venue sourcing platforms make the list of mission critical hotel software tools because of their ability to drastically reduce group acquisition costs. Plus, over 50% of planners begin their search online anyways, so you’re meeting your audience where they are.
Additionally, sourcing platforms act as hotel software that helps properties build long-lasting relationships with planners. Data shows that repeat platform visitors are more likely to submit RFPs.
Use these tips to get the most out of venue sourcing platforms.
To set up a successful venue search profile, include the five elements below. Listings that include these elements show as much as a 13% conversion rate from listing to request for proposal.
High-resolution photo gallery – The right photos help planners visualize their event in your space — especially photos of spaced that are set up for specific events.
Quality videos – In a recent Social Tables survey, planners responded that video is the most helpful inclusion, even more so than virtual reality tours.
Floor plans & dimensions – This inclusion can be a huge differentiator and help sell the space. The key is finding a platform that allows you to include floor plans.
Capacity – Clear capacity callouts and similar pertinent details like this can save planners time having to message and ask you. Or worse, skip your property entirely.
Testimonials – A great review of a past event from a fellow planner offers proof of successful future events.
Proximity to nearby attractions – How can the location of your property help planners provide an authentic, local experience for their attendees?
Mobile-friendly content – Mobile users submit RFPs at a higher rate than desktop users. Maximize the effectiveness of your profile on handheld devices by using concise copy and scalable photography.
