Offering value-added packages that combine stays with extra amenities and services is a great strategy for attracting guests and driving revenue.
NB: This is an article from WebRezPro
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But like any good strategy, it only works when executed with precision. From choosing what to offer and how much to charge to managing bookings and tracking revenue, each element must be well thought out and administered to make packages worthwhile for your guests and your business.
Here’s how to create and manage packages that bring in more guests and boost your bottom line.
Craft the Perfect Offer
This is the fun part! The key to standing out in a crowded market is to get creative and offer guests something unique. Think about what makes your property special (USP), explore local partnerships (existing and potential), and determine your target audience. Your reservation and guest data holds the secrets to crafting packages that resonate with your guests.
From activities to meals to in-room extras, what additional components can you include with a stay that will get your guests excited? Think beyond the usual and offer experiences that are memorable—but take care to stay true to both your brand and your audience in order to create offers that hit the mark.
Determine the Perfect Price
Once you’ve come up with the perfect combo, the next step is determining the perfect price. The whole point of packaging overnight stays with extra amenities and/or experiences is to provide added value, allowing guests to bundle and save whether the discount is applied to the room rate or the added package components.
Avoid the common pitfall of deep discounting, which can erode your margins and harm your brand’s credibility. Instead, consider your booking patterns, forecasted demand, and competitor analysis to set a price that offers value without sacrificing revenue. Remember, the right price isn’t just about covering costs; it’s about enhancing your property’s reputation as a place where guests get more for their money.
Strategic Restrictions
To who, when, and how your package is offered makes or breaks its success. Offering it to everyone may seem like a great idea at first, but that approach can lead to missed revenue opportunities, especially during peak periods. Use your property management system to determine availability and set strategic restrictions that give you more control over your inventory and prevent you from leaving money on the table.
For example, a package designed to boost bookings during the off season can be offered to the general public but shouldn’t be available during peak periods when demand for your property is high. A premium package designed to bring in high-value guests during summer could be restricted to upscale rooms. Password-protected packages allow you to reward loyal customers with special deals to strengthen the relationship. Occupancy-based rules that automatically increase rates or close out discounts when availability is low ensure you can sell your last rooms at a higher price.
