Hoteliers are urged to rethink their commercial strategies, moving beyond mere occupancy rates to focus on profit maximisation.
Industry experts highlight the need for a more sophisticated approach in targeting customers, taking into account all associated costs and long-term value.
Many hotel companies have been targeting sheer demand, yet fail to consider profit margins adequately. Understanding which clientele truly enhances profitability is essential. As Cindy Estis Green notes, blindly increasing room bookings without scrutinising costs and expenditure can mislead commercial objectives.
Consumer preferences have evolved, influencing leisure and business travel. Hoteliers must address these shifts by redefining demand profiles and assumptions.
A strategic allocation of resources should be aligned with data insights, optimising business mix to boost asset value.
Notably, social media influencers have emerged as pivotal in attracting guests, representing a shift in marketing dynamics.
Green suggests aligning digital advertising efforts with demand predictions, focusing on lucrative market segments.
Hoteliers are encouraged to reassess processes, ensuring they optimise funds and team efforts.
Collaboration with data firms aids hoteliers in crafting effective demand strategies. Partnerships can yield better pricing and targeting decisions.
Ultimately, profit-focused strategies outshine demand-driven approaches in today’s complex hospitality market.
Hoteliers must embrace innovative strategies and collaborations to thrive. Cindy Estis Green’s insights underscore a transformative path forward.