Like any other business, increasing the success of a hotel is largely about increasing revenue, but decreasing expenses cannot be neglected either. A dollar saved is a dollar more in profit. With that in mind, the following are five ways a hotel owner or manager can increase the financial success of the hotel.
Create a personal and friendly atmosphere
Most people would rather spend the evening at home than a hotel, but when away from their home, they must sleep somewhere. Making your guests feel as comfortable as possible begins with a friendly atmosphere that begins the moment they check in and with any encounter they have with other employees at the hotel. If they feel comfortable while staying at your hotel, they are likely to book another lodging with you the next time they are in town. The foundation of every business success is with repeat business, and the best way to accomplish this in a hotel is with personal and friendly service. The hotel manager should also make him or herself available to interact with guests from time to time.
Start a newsletter
Another idea to increase returning customers is to begin to ask your guests if they would like to subscribe to a newsletter. You can send this out periodically, and inform your customers of hotel announcements, perhaps improvements to the hotel or special events. Another thing you can do is offer your customers discounts to book in advance. Offering discounts to previous guests will help a lot in getting them to stay with you again. You can also use a newsletter to help book rooms during your slower times of the year.
Use email marketing
This is a great way to increase revenue in a wide range of business sectors. You will first need to obtain a list of hotel customers that may vacation in or visit the city your hotel is located in, or you can get a list of those who have visited your area in the past. There are many companies that sell this type of list. They consist of names and email address. If chosen carefully, you will have a large group of potential leads for new customers. You can then compose an email directed to these people, and send them out all at once using an email service. An email service can help you design the email, and send out the emails at the exact time you prefer. This is a fundamental way to increase your customer base.
Replacing your air conditioning and heating system
As you are well aware of, your AC unit can easily make up more than half of your electric bill each month. Any savings you can realize in this area will add to your profits. Of course, you can’t go around telling your guests to conserve on the AC, nor can you turn your thermostat up simply to save money. If your guests are too warm, they are not likely to return to your hotel. However, there are a couple of things you can do. First, you should make a habit of getting your AC system serviced regularly. Secondly, if you have an older model, you may want to consider replacing it. Today’s designs are more energy efficient than those of the past, and it is possible to realize a 50 percent savings on your electric bill.
Embrace cloud computing
If you can turn your network into a cloud base computing network, you will be better able to integrate all of your computer needs into a single system, and your employees will be able to access the files they need from wherever they may be. This can be a big advantage for hotels with more than one location. Employees will become more productive, and this leads to greater profits. You can get help in developing a cloud based toronto hotel property management system from several companies that offer this type of service. Service My Business is one example of this type of company.
The ideas listed above are only a few ways to make your hotel business more profitable. There are many more. The important thing to keep in mind is that a hotel is, on a fundamental level, no different that any other retail or service based business. What works for one type of business may be adaptable to the hotel industry as well.