Loyalty and bookings are not enough – hotels must increase guest spend
Bethesda, MD (October 10, 2017) – In simple terms, share of wallet (SOW) is the percentage of a customer’s total spending that is captured by a business. Today, hospitality technology leader StayNTouch® has launched a new guide aimed at helping hotels entice guests to increase the frequency and amount of their transactions each time they visit. Titled, 5 Easy Hacks to Supercharge Your On-Property Guest Spend, the strategies include profitable upsell and merchandising techniques, encouraging guests to stay more often and amplifying sales.
Most hoteliers realize that not all guests are the same. Some will only pay the nightly rate while others will spend hundreds on-site through dining, services, amenities, and activities like spa treatments and golf. At the end of the day, once a hotel has acquired a new guest regardless of channel, the ultimate goal is to maximize the revenues that the guest generates for each stay. Approaches and tactics covered in the guide include:
- How to leverage the impulse effect
- Using special offers and limited-time-only promotions to drive spending
- Competing with the locals – attractions, restaurants, retail, and others
- Catering to business travelers
- The number one of tried and tested sales boost tactic – excellent service
“If optimizing guest spend is not one of the top priorities, hotels will miss out on massive opportunity to grow revenue quickly and easily—and profitably,” said Jos Schaap, CEO of StayNTouch. “Your current guests already know your brand and trust your services so don’t leave money on the table by letting them go elsewhere. Focusing your time and energy on them as opposed to always trying to find new guests can be a powerful way to supercharge your bottom line.”
To get a complimentary copy of 5 Easy Hacks to Supercharge Your On-Property Guest Spend, click here or visit http://go.stayntouch.com/5EasyHacks.html?utm_source=hotelonline.
