At AxisRooms, we are dedicated to supporting hotels in every way we can. From adding new features to our products to organizing industry events with leading global solution providers, our goal is to empower hotels like yours to thrive in today’s fast-changing business landscape.
Not too long back, we hosted a series of hospitality events across multiple cities in India, including the Hotel Revenue Summit in collaboration with Booking.com. The inaugural event took place in Kochi, Kerala, on March 23, 2023-24, attracting hundreds of hoteliers and experts from Online Travel Agencies (OTAs). This blog highlights the key points from our panel discussion on the evolving world of online travel.
The State of Travel and Online Booking
After the pandemic, domestic travel quickly regained momentum, greatly benefiting the Indian hotel industry. The outlook is even brighter now with international travel returning. In this context, online bookings are crucial, as most accommodation reservations occur through OTAs, hotel websites, and social media channels. This shift presents a wealth of opportunities for hotels to boost their online bookings. While partnering with leading OTAs can help secure indirect bookings, utilizing a booking engine on your website can significantly enhance direct bookings.
Tips to Sell More Online
When it comes to selling online, the key is to highlight your property's unique selling proposition (USP). What makes your hotel stand out from the competition, especially when similar services are offered at comparable price points? Here are some effective strategies:
- Keep Your OTA Profiles Updated: Regularly refresh your property’s profiles on OTAs with high-quality images and compelling content.
- Collaborate with Your OTA Marketing Manager: Work closely with them to optimize your visibility.
- Promote Unique Amenities: Showcase special features that set your hotel apart from others.
- Highlight Local Attractions: Draw attention to the nearby points of interest.
- Showcase Positive Reviews: Feature guest feedback and ratings prominently.
To increase direct bookings, consider these additional tips:
- Integrate a Booking Engine: Place a booking engine on your hotel website and social media pages.
- Focus on Visuals: Ensure your hotel images and descriptions are appealing and informative.
- Promote Your USPs: Emphasize what makes your hotel unique.
- Run Promotions: Offer special deals and promotions to entice guests.
- Showcase Awards and Recognitions: Highlight any industry accolades your hotel has received.
Most importantly, convey the unique experience guests can expect during their stay. Remember, they are looking for value for their money.
Understanding Revenue Management
Revenue management is not just about selling more rooms; it’s about selling the right room at the best rate to the right guest at the right time. Your primary goal should be to enhance both occupancy and revenue.
A smart revenue management tool is essential for any hotel. It allows for dynamic optimization of room rates based on your hotel’s occupancy and market demand. Modern revenue management solutions can provide automated rate recommendations by analyzing local demand, supply, and competitor rates.
How Technology Supports Revenue Growth
Since the pandemic, there has been a notable increase in technology adoption within the hotel industry. This shift has been driven by a need for operational automation, especially with reduced staff.
For instance, a hotel channel manager can automatically update your rates and availability across OTAs in real-time. This kind of automation saves time, boosts productivity, and eliminates errors such as double bookings, which can result in lost revenue. Additionally, technology plays a crucial role in marketing your hotel. It allows you to segment your audience and run targeted campaigns effectively.
The path to success involves implementing the right technology throughout all areas of your hotel operations—from the front office to the back office and everything in between. While adopting new technology, it is essential to train your staff on how it can help them work more efficiently and effectively.
