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Top Tips For Growing Your Hotel Business

Millennial Magazine- Growing Your Hotel Business

The tourism industry is one of the most profitable markets in the world, bringing in approximately  1.2 trillion U.S. dollars in 2019 alone. As a result, it’s hardly surprising that many entrepreneurs pursue the hospitality industry when opting to start a new company. However, it was also particularly hard-hit by the pandemic, facing an onslaught of cancelled bookings due to mandated lockdowns and flight cancellations. 

That being said, the current hospitality statistics are rather positive and indicate a swift recovery for all areas of tourism, particularly hotels. After all, the desire to travel amongst the general public is higher than ever. For example, a reason study found that 67.72% of respondents want to travel when the pandemic is ‘over’.

As a result, and in order to recover from financial losses over the past few years, it’s vital that you put your best foot forward in 2022. This way, you’ll be able to secure a long future for your hotel. 

With that in mind, here are some top tips that you can for growing your hotel business!

  • Refine your mission statement. A mission statement is a great way to introduce a hotel or brand to new customers and potential employees – due to the fact that it gives you the chance to show how key values align with their own interests. Studies suggest that clients are much more likely to support brands who share their own morals, whether that relates to sustainability, accountability or integrity. You can find a strong example of a hotel mission statement here – which succeeds in painting a clear and concise image of the Wyndham Hotels brand. 
  • Update your website. Whenever a customer wants to buy new clothes, they often have the opportunity to try them on before they purchase – but this isn’t the case for hotels, making the decision regarding which hotel to stay at even harder. In fact, most of these decisions will be based on an online presence. As a result, you should ensure that you regularly update your website – whether that means uploading new pictures of the rooms or to hire professional SEO services to boost web traffic. 
  • Make communication effortless. When working in the hospitality industry, communication is key – meaning that you need to make it as easy as possible for guests to reach out to you should they have any questions. For example, you should set up a customer service email address an inquiry section on your website and may even want to look into telephone answering services – so that there is someone on hand 24/7. 
  • Understand exactly what guests want. Success within the hospitality industry is often determined by awareness of one’s clientele and ability to meet guests’ expectations. As a result, you should take some time to figure out precisely what your target audience wants from a hotel. Are they generally business people who simply want to have a good night’s sleep on vacation? Or are they families looking for a fun-filled weekend? 
  • Don’t ignore negative reviews. Negative reviews can be particularly disheartening – especially if you dedicate much time to keeping your guests happy. However, a response to these reviews is often more important than the review itself. Therefore, instead of immediately becoming defensive or trying to discredit the guest – hold yourself accountable. Apologize for any mistakes and, if necessary, give an explanation as to why things went wrong. Then, try to find some way to repair your relationship with the reviewer – while they may not want to stay at your hotel again, others will be able to see the response and realize that you genuinely do care about accountability and the guest experience. 
  • Focus on keeping your employees happy. As a hotel manager or owner, most of the work you carry out will be behind the scenes – whether you’re planning renovations or inspecting finances. As a result, you need to ensure that customers are kept as happy as possible by your team – which means it’s time to start taking employee management seriously. While we all have our off-days at work, you must strive to keep your employees happy – as unhappy employees will negatively impact the customer experience, while also reducing productivity rates. 
  • Use your social media accounts wisely. Over the past few years, hundreds of businesses have exploded in popularity due to their social media accounts – meaning it could be a great way to promote your brand and bring in new customers. While social media may seem more suited to retail brands, you can easily use it to promote your hotels. For example, you could upload tours of different rooms onto platforms such as TikTok or Instagram, or collaborate with other travel brands.  If you barely use social media in your personal life, you might want to bring in a social media manager who can carry out these tasks on your behalf. 
  • Set goals for your hotel. In order to grow your business, you must set yourself clear yet measurable goals so that you are able to measure your success and put new plans in place to facilitate this. For example, instead of simply aiming to ‘grow your business’ – focus on the specifics (You could aim to increase your bookings by a certain number or percentage, or bring in more yearly revenue etc.) 
  • Ensure that you stand out from the crowd. The tourism and hotel industry can be incredibly competitive, especially when you also have to contend with the rising popularity of platforms such as AirB&B. As a result, it’s important that you find as many ways to stand out from the crowd as possible so that guests are more likely to spend the night at your hotel than your competitors. To achieve this goal, you must focus on creating a truly unique experience for your guests – curating the kind of vacation they could not have anywhere else – whether this is dictated by your decor, customer service or competitive prices.  The more you stand out – the easier it will be to grow your business. 

What do you think?

Written by Sylvia Hysen

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