The saying is true. Knowledge is power. We also know that sometimes acquiring knowledge takes time. And, as an independent hotelier, time can be hard to come by. We want to help out.
Wouldn’t it be nice to know what surrounding hotels are charging per night, what OTAs they are listed on, and what their average rating is?
With a little information from you and a lot of help from the team at innRoad, we can help independent hotel’s improve their OTA performance. Just click on the link below and tell us where you are located. We’ll do the following:
- Check surrounding areas to determine 3-5 nearby hotels
- Share their current ADR
- The OTAs they are using
- A summary of the ratings and reviews of those hotels
This can help you do the following:
- Set your rates so they are competitive
- Understand what makes your competitors successful or not
- Help you focus your attention on the right OTAs depending on what’s being used in your area
We look forward to helping you improve your hotel OTA performance.
Check out the Hotel Grader Now!
2014 was a great year for many independent hoteliers across the U.S. The industry’s most important performance metrics, like occupancy, ADR and RevPAR, all continued to trend positively as the year came to an end. And for as successful as 2014 was for owners and operators, hotel performance is expected to be even stronger in 2015. With as much hard work as it took to make last year successful, we want to remind operators to do one important thing in 2015… keep it going!
As operators know all too well, the reality of running a hotel, or any business for that matter, is that after finally reaching certain milestones, it becomes even harder to sustain and build upon that success. This is why it’s critical that, though their core business plan continues to produce results, hoteliers regularly take a fresh look at their operations, challenge the traditional ways of running their property and consider new, innovative ideas. This review process shouldn’t be a once per year exercise, operators should look for ways to improve their business each and every day.
It’s likely that you’ve seen them being taken or have snapped a few yourself. Today, taking a “selfie” (a photo of you taken with your camera or smartphone) is common for people across all ages. And not only are selfies filling up social media timelines, they can help drive hotel revenues.
In all seriousness, “selfies” are not direct drivers or deterrents of hotel revenue. We are using the term as a metaphor to represent the shift toward experiential travel preferences. Many consumers, from millennials to mature, desire unique, outside-the-box experiences, so the travel industry is adapting quickly to accommodate and cater to their needs. In exchange, consumers are exploring new destinations, spending more money and snapping more “selfies” to capture their experiences. All that being said, here’s why independent hotel owners and operators, even those in seemingly unlikely locales, must identify experiential travel opportunities in their market and leverage them to generate revenue for their properties.
This holiday season, AAA projects that 98.6 million Americans will travel 50 miles or more during the year-end holiday season, from December 23rd through January 4th. Not only does this represent a 4% increase over the 94.8 million people who traveled at the end of 2013, the travel volume for this time period will be the highest ever recorded by AAA.
This travel outlook is great news for hoteliers across the country. With the rise in travelers spending the holidays away from home comes more opportunities to capture reservations and drive revenue, especially for operators of multi-hotel portfolios. However, it also requires operators to take a firmer grasp of their day-to-day operations, so the needs of guests, as well as team members, are met during this special (and busy) time of year.
Successful multi-location management requires hoteliers to display great skill, flexibility and leadership, especially during high-volume holiday travel periods.
If you only watched a few hours of TV in 2014, it was almost impossible to miss the endless supply of commercials from online travel agents (OTAs). Their popularity turned fictional pitchmen, like “Captain Obvious” and “The Trivago Guy,” into overnight celebrities. This was the result of eighteen top OTAs, including Expedia, Hotwire, Hotels.com and Booking.com, collectively spending almost $625 million on TV advertising in the United States.
OTAs will always have critics who believe their fees aren’t equal to the value of delivered bookings. While ROI may be debatable, the $625 million investment OTAs made in attracting travelers for their hospitality partners is undeniable. Here’s why we believe independent hoteliers should continue to lean on OTAs to help drive their business:
As many independent hoteliers know well, social media provides an efficient and inexpensive tool for marketing their property to new customers and staying in touch with loyal guests. Equally, it allows consumers to communicate directly with operators to rave about their wonderful experience or, unfortunately, share their reasons for never wanting to return. Accepting praise is the easy and enjoyable part of using social media, but properly handling negative feedback can actually help hotel operators build trust with their online community. Additionally, comments from guests can provide valuable information about areas that need improvement, as well as service touch points that should be enhanced.
TripAdvisor, the world’s largest travel site, is a traveler’s ultimate go-to resource for planning the perfect trip. From insights on hotels, restaurants and attractions, TripAdvisor details countless destinations across the globe. Additionally, the site serves as an excellent tool for hospitality industry professionals.
In their Top 12 tips for Special Offer success article, TripAdvisor provides hoteliers with advice on how to use special offers to propel their business forward. Building upon their ideas, we have provided best practices for independent hoteliers using innRoad to increase bookings by incentivizing travelers with special offers. By leveraging innRoad’s Booking Engine and Global Distribution services, two integral features of our property management system, hotel owners and operators can widely promote special offers that can substantially increase bookings, drive greater top-line revenue and result in stronger bottom-line profit growth.
As consumer preferences and trends have evolved over recent years, hotel guests have shown, with their decisions and dollars, they desire more authentic, hyper-local experiences when traveling. Rather than the “sea of sameness” that comes with staying at some of the major branded hotels, travelers are selecting independent properties for their lodging needs. By trading globally recognized brands for independent hotels, guests are hoping to enhance their stay with truly unique and memorable experiences that large chains cannot provide.
With this shift in consumer behavior, large hotel chains are trying their hands at providing travelers with highly sought-after localized experiences by launching or purchasing boutique brands and cultivating collections of independent properties. Brands such as IHG, Hyatt, Hilton and Marriott have all made significant investments toward “going local” and capturing some of the revenue that has begun to flow toward smaller properties. This movement has caught the attention of independent hotel operators and now they are strategizing ways to survive this new wave of competition.
Over the past several weeks, we have discussed various tactics and tips for positioning your hotel for success in 2015. From utilizing an advanced hotel PMS to enhance daily operations to establishing action-oriented performance goals, hoteliers should be taking all the necessary steps to ensure a successful 2015. In continuing this discussion, we now want to look at how assessing your competitors can greatly benefit your hotel.
With the effort and time needed to successfully operate a hotel, some owners and operators focus the majority of their attention on managing within their “4-walls,” leaving only a fraction of their time to investigate the external factors impacting their business. To help time-strapped hoteliers look beyond their on-property responsibilities, we have provided a few tips for assessing their competitors and determining how well their property is positioned in the market. 2015 is predicted to be a record year for the hotel industry, so as a partner to hotel operators across North America, innRoad is committed to helping our clients achieve the success they deserve.
When hoteliers partner with innRoad, they receive a full complement of advanced, web-based tools, as well as premium customer support, which allows for enhanced management of daily operations and greater opportunities to increase revenue and profits. Included within innRoad’s hotel property management suite is our website booking engine software. With innRoad’s booking engine software, owners and operators are able to transform their existing hotel website into a commission-free reservations booking center. innRoad’s booking engine software not only supplies hoteliers with a mechanism for increasing reservations and revenue, it provides travelers with a new channel for discovering and booking hotel rooms.