Email

info@ls-invest.asia

TH: +66 (0) 91 821 5557

US: +1 (702) 512 - 8349

Compare Listings

Revenue strategies for boutique hotels

It’s no surprise that millennials now make up the largest share of traveler demographics and are the biggest factor in why independent hoteliers will work to perform better than in previous years. Having a full grasp where and who your business comes from is the first step in building proper revenue management.

Millennials, in general, have remained neutral with their opinions on branded hotels, and prefer seeking out a unique experience to staying loyal to one particular chain. Factors that attract a millennial traveler include urban renewals and adaptive reuse for that one-of-a-kind stay.

Remember that technology also plays an important role in their day-to-day lives, so ensure your Wi-Fi systems have enough bandwidth to meet their demands. This technology is not only required in each guestroom, but also in any large social gathering area that promotes a work/play environment.

Here are some other factors to consider in revenue managing for boutique hotels.

Distribution of rooms
With an established buyer persona, we can now look at your ideal revenue mix.

Direct bookings are by far the most cost-effective business for boutique hotels so it is always the goal to drive business to our own booking channels. Identifying what percent of business you need from group sales, global distribution systems and online travel agencies is important to a successful revenue strategy. Understanding the cost of all of your booking channels allows for you to properly layer in business by evaluating the effective average daily rate and adjusting your available rates accordingly.

Set occupancy thresholds for your hotel as key indicators of when to increase your rates. The further out a guest books a stay, the better deal they should obtain—in most cases. The worst thing you can do is to train your guests to book last minute by reducing rates or making last-minute deals available.

Without the power of a brand sales team and the tools that they provide, your independent hotel’s sales efforts need to ensure that they are utilizing the right channels to be effective.

Identify your hotel’s ideal rooms-to-space ratio to maximize profits on any piece of group business and to ensure your revenue manager and sales team are on the same page.

Read more

img

Sivana Dee

Whether you are a first time buyer or looking to expand your investment portfolio, we are here to service your every need. Allow LS-Invest.ASIA to assist you in creating your new “LifeStyle”. The right time is now to look no further than LS-Invest.ASIA Based in Phuket, our mission is to introduce a fresh outlook on luxury property investment in Thailand with a uniquely international perspective

Related posts

Immigration looks to cut crowding

Wants 90-day report to be made online The Immigration Bureau (IB) wants foreign residents not to...

Continue reading about Immigration looks to cut crowding
Sivana Dee
by Sivana Dee

Coronavirus: Thailand suspends visa-free policy but consulate insists Hong Kong not affected

Travelers from South Korea, Italy and Hong Kong now need visas to enter the kingdom, according...

Continue reading about Coronavirus: Thailand suspends visa-free policy but consulate insists Hong Kong not affected
Sivana Dee
by Sivana Dee

Coronavirus Live Updates: Trump’s Travel Restrictions, Italy in Lockdown and N.B.A. Suspension

The World Health Organization declared a global pandemic. Tom Hanks tested positive for the...

Continue reading about Coronavirus Live Updates: Trump’s Travel Restrictions, Italy in Lockdown and N.B.A. Suspension
Sivana Dee
by Sivana Dee

Join The Discussion

×

Hello,

thank you for visiting LS-Invest.ASIA! My name is Sanne, how may I help you today?

× How can I help you?