Hotels and the ancillaries of the hospitality industry are coming out of the pandemic disruption with many new changes and challenges. During the COVID-19 pandemic, almost the entire hotel industry in India went under as they recorded near-zero occupancy for an extended period, a situation never faced before.
Despite many adaptive measures, the challenge remains – how can hotels get the best out of their rental and regular infrastructure? What new ways of selling rooms should the industry players implement to be successful in the future?
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With challenges like unsold rooms, staff maintenance, property management, and many others, hotels have become creative with their offers and packages.
Here, we delve into some perspective answers to these fundamental questions.
Revenue Optimisation
Revenue and sales optimisation is the strategic management of price, inventory, demand and sales channels to maximise long-term sales growth. By leveraging the latest auxiliary technology trends that are driving hotel revenue into the new era, hotel businesses need to focus on the challenges and opportunities that directly impact guests and the commercial hotel industry.
These include forecasting, budgeting, performance measurement, inventory and channel management, sales and event management, revenue management systems, booking engines and decision-making tools.
Creativity in generating hospitality revenue
Hotels all around the globe are forced to rethink revenue generation during the COVID crisis fundamentally. Like so often, many successful concepts have started with putting the guest at the centre and looking at what they want, not what it is that is sold traditionally, like a room night with breakfast. What guests need today is a quiet space to work, an escape from everyday life, and simply a real experience COVID recedes.
Create co-working spaces
Numerous hotel businesses are transforming their traditional spaces. Following the trend, hospitality entrepreneurs can create work-from-hotel spaces for out-of-towners, digital nomads and local business people who do not wish to be restrained by office contracts. They can also create weekly and monthly packages for such customers, including WiFi, coffee, bottled water, snacks and catered lunch.
Utilising unused professional spaces
The corporate group and netting’s markets are ramping up at a slower pace than leisure and travel. Hoteliers can utilise new conference and function spaces to offer extracurricular activities such as yoga classes, wellness programs, cooking classes, book readings, author signing events, neighbourhood craft shows, etc.
Technology adoption and adaptation
Businesses of all sorts have gone online, including hospitality and travel industry players. To succeed in a post-pandemic world, hospitality enterprises must make sure to adopt digital models and educate their staff about the same.
From giving accessible booking services, on-the-call assistance, website detailing, application for different services, and many more, a wide range of customers can be attracted to a new set of hospitality businesses‘ functioning.
