Whether your hotel currently does corporate meetings and events or wants to drive more group sales, the opportunity exists to diversify your revenue stream. Across the industry, hotel operators, data specialists, and corporate event planners unanimously report that there has been a significant increase in the demand for meetings and events hosted at hotels.
NB: This is an article from Tripleseat
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This is great news for hotels working to drive revenue.
Corporate meetings and events can range in size, scope, and purpose, including day-long company meetings, business luncheons, week-long team retreats, holiday parties, and destination company trips. These gatherings provide an invaluable opportunity for your guests to network, break out of the office environment, have fun, collaborate, and partake in team-building activities.
The question is, with all this potential business out there, how do you attract it? Here are some top ways your hotel can drive more corporate sales.
1. Use Your Assets to Boost Revenue
To distinguish your hotel as a premier choice for hosting meetings, it’s crucial to identify and emphasize what sets you apart from your competition. Look at your hotel’s unique selling points in comparison to other hotels. For instance, does your hotel boast a prime location? Are amenities such as a spa, restaurant, and bar part of the offerings? Do you offer large and smaller event spaces and flex spaces for people to gather? What special features does your hotel offer guests and event attendees? Do you have what corporate planners want? Once you have identified your hotel’s assets, promote them in order to increase revenue with booked meetings.
2. Adapt to the Corporate Landscape
Be sure to understand the industry as it is right now and where it’s going. It’s important to realize that certain things that may have worked in the past might not have the same effect today. At the same time, there are new opportunities today regarding meetings and events. Think out of the box and be creative in this new world of corporate gatherings
Not all meetings and events look the same right now. If you have a big hotel, consider breaking up your hotel space so that you can use it simultaneously for more than one event. The more corporate events you book, the more profitable you will be.