November 16, 2018
Hospitality industry executives look ahead to 2019
There are headwinds ahead for some hotel brand companies and real estate investment trusts, but the overall tone on calls in regards to next year was positive.Read more
Peak season in travel presents its own unique challenges. Booking.com explores why deep discounting may not always be the winning recipe to secure late bookings and how thinking outside the box is necessary to maximise revenue.
Every hotelier and property has to deal with peaks and troughs in demand, but if rooms need to be filled at the last-minute, being able to think beyond dropping prices and taking a more strategic approach could give you that crucial competitive edge.
“Offering resort credit or a room upgrade can help persuade late bookers without denting your bottom line too much,” says Katerina Santikos, Business Development Director of Santikos Collection in Skiathos, Greece. “If your room rate is €200, for example, and you offer a 40% discount, you’ll lose €80.
“But if you instead offer a 40% resort credit [for instance] or an upgrade to a suite, the guest will get a 40% deal, but the cost to you will be much less than the €80 value the guest is getting – and you’ll get the full €200 for the room.”
These sorts of ‘value-adds’ can draw in last-minute bargain hunters, agrees Katherine Anthony, a luxury resorts marketing director. But she advises thinking carefully about the ones that will appeal to your typical guests, such as free high-speed Wi-Fi, parking or laundry if you tend to welcome business travellers.
Get the full story at Booking.com
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