Small hotels must constantly find innovative ways to increase their occupancy rates in the competitive hospitality industry. One approach is to capitalize on local events that attract additional guests, such as conventions, major company gatherings, and citywide expositions. These events generate high demand for hotel rooms, presenting small and select service hotels with an opportunity to maximize their revenue.
To successfully capture overflow business, small hotels must closely monitor local event calendars and market trends. By doing so, they can identify prime opportunities to increase occupancy and tailor their strategies accordingly. Let’s explore how hotels lacking traditional meeting space can become the go-to accommodation choice for overflow business.
Looking to Local Event Data for Strategic Planning
An effective strategy for small hotels to capture overflow business is to leverage local event data. Tools like Knowland provide valuable insights into annual or recurring events in specific sub-markets. By utilizing such tools, hotels can anticipate spikes in demand and tailor their outreach campaigns to attract overflow business.
Competitive calendar analysis and event impact assessment are crucial for identifying key events and their potential impact on a hotel’s occupancy rates. Analyzing historical attendance figures and economic impact helps hotels gauge the potential overflow business. Additionally, conducting market analysis to assess the capacity of nearby hotels is essential for identifying competitive advantages and potential overflow opportunities.
Example: Leveraging Knowland for a Nearby Tradeshow
For example, a small hotel near an annual tradeshow can use Knowland to analyze attendance figures, identify event organizers, and assess the demand for accommodation. Based on this data, the hotel can develop targeted sales outreach, offering discounted room rates, shuttle services, and special packages for attendees.
By effectively leveraging local event data, small hotels can proactively identify overflow opportunities, tailor their sales efforts, and become the preferred choice for event attendees. This strategic approach can significantly boost occupancy rates, increase average daily rates, and enhance the hotel’s reputation within the local market.
Additional prospecting tools:
Tools like Knowland Select’s Weekly Account Alerts can help small teams streamline account lists and outreach. With Knowland’s automated reports, sales teams get a list of accounts meeting in their area. This simplified approach to prospecting cuts out time spent searching through tenant registries, calling HR departments for contacts, and other traditional methods that complicate the sales process.
Forming Strategic Partnerships with Event Organizers
Apart from leveraging local event data, small hotels can form strategic partnerships with event organizers, local Convention and Visitors Bureaus (CVBs), convention centers, and partner hotels to capture overflow business during major events. These partnerships enhance the hotel’s visibility, reach, and seamless overflow management.
These partnerships offer several key benefits:
1. Enhanced Visibility and Market Reach:
Partnering with CVBs can give small hotels greater visibility among event planners and attendees. CVBs often maintain extensive databases of local accommodations and can recommend small hotels as overflow options. Additionally, joint marketing campaigns can help promote the region, driving more visitors to the area and increasing the demand for accommodations.
Collaborating with convention centers can help hotels tap into the high demand generated by large-scale events hosted at these venues. Small hotels can ensure a seamless referral process by working closely with full-service hotels and CVBs and providing guests with consistent information and support.
2. Seamless Overflow Management:
- Capacity Planning: Work closely with partner hotels and CVBs to accurately estimate your overflow capacity and allocate resources accordingly.
- Shared Services: Partner hotels can assist with overflow management tasks, such as check-in, check-out, and guest services, ensuring a smooth guest experience.
- Group Rate Negotiation: Collaborative pricing strategies and negotiations with event organizers can produce more favorable group rates for overflow guests.
To establish effective partnerships, small hotels should:
- Identify Potential Partners: Identify hotels in your area likely to experience overflow during major events.
- Proactively Reach Out: Initiate contact with local CVBs, convention centers, and potential partner hotels, highlighting the unique value proposition of their property.
- Track Activity: Monitor the scope and scale of events at nearby venues to assess overflow potential.
- Leverage Technology: Utilize tools like Knowland to track event activity, diversify your target base, and find overflow opportunities.
Utilizing Digital Marketing to Target Event Attendees
Small hotels can also utilize their online presence to target event attendees, using social media to attract guests and enhance their reputation within the local market. Share helpful content highlighting the benefits of staying at a smaller hotel, like competitive pricing, avoiding overcrowding, and personal touch, to sway attendees to book with you.
Offering Exclusive Deals and Packages for Event Goers
Increase appeal by offering deals and packages for event attendees. Whether it’s a complimentary shuttle service to the event venue or special group rates, unique packages add tangible value to your pitch. These deals incentivize bookings and demonstrate the hotel’s commitment to providing an exceptional and cost-effective stay. Small hotels can position themselves as professional and accommodating alternatives to larger conference hotels by being innovative and helpful.
Enhancing Guest Experience to Encourage Repeat Business
An unforgettable guest experience is the cornerstone of a strong reputation and repeat business. Small hotels have the opportunity to excel in personalized service, making each group feel memorable and attended to. Teams can build authoritative and optimistic word-of-mouth by enhancing the guest experience through customized services and attention to detail. Leveraging these positive reviews further strengthens the hotel’s position in the market as an ideal choice for attendees of future events.
Start Planning for Overflow Demand Today
Hotels of all sizes can benefit from group, transient, and business travel by leveraging local event data, forming strategic partnerships, utilizing digital marketing, offering exclusive deals, and enhancing the guest experience. By staying ahead of market trends with data-driven strategies, these establishments can position themselves as top choices for event attendees.
To learn more about how Knowland can help your small hotel maximize revenue and increase occupancy, speak with our team today. Contact us for a consultation to take the next step towards success. Discover the innovative, professional, and helpful strategies that can elevate your hotel’s performance in the market. Let’s work together to achieve your goals and drive sustainable growth for your property.