With changing time and increased competition, many hotels now have started using hotel industry business insights to take relevant business decisions, ultimately to increase hotel revenue. However, are you one of those smart hoteliers who understands the importance of big data analytics when it comes to run your hotel business efficiently?
Here are some important tips to increase hotel revenue by analysing hospitality big data as part of your hotel revenue management effort.
1. Look at your guest data
Nothing works better than impeccable guest service and top-notch guest relationship in guest-facing hotel industry. If your guests are happy about your property and its service, they will make your business grow. They become your brand ambassadors and loyal customers, thus giving you repeat business. But, is it so easy? Will you be able to serve them without knowing them? Will you be able to personalize their experience without understanding their likes and dislikes?
The answer is a big ‘No!’.
But then what is the solution? Well, it is your guest data.
Look at the pile of guest data you have, it will definitely help you understand them. Once you know their expectations and preferences like choice of room, favourite cuisine, buying powers, etc. you will be in a better position to make their next stay with a ‘special’ one. Enhanced guest service can also help you sell more non-room items as happy guests tend to spend more.
This apart, use the same guest data to pitch your brand through targeted mails. For example – after some deep-diving into your guest data you realise that certain guests of yours attended a an annual festival/event in your area last year. During this time they stayed at your property in September. This presents a great opportunity for you to get back in touch with them via mails, in July, reminding about the upcoming event. Let them know that they can avail a 20% discount on room booking if they book with you before 1st week of August. You must run timely promotions with personalized packages to attract more guests. Chances of getting more bookings are higher with such activities, and more booking translates into increased revenues.
