The rules of online hospitality that changed in the hospitality industry a few years ago are not much thought. Tools like OTAs, Metasearch sites, destination sites, and last-minute booking apps / mobile apps are plentiful, with the average traveler using more than a dozen sites before booking online. Don’t forget that members often travel with their mobile phone, laptop, iPad, etc. to research and book travel. Hotel Revenue Management Tools these challenges have been greatly reduced.
Changes in Traveller’s shopping behavior, with greater access to online / mobile travel tools, offer hosts a challenge and an opportunity. The platforms mentioned above provide real-time data about consumers ’online travel. Therefore, it justifies all the reasons why all hotels should start tracking prices.
With the increasing use of smartphones, consumers are starving all the time, last-minute booking in mobile apps and unpunished bookings have intensified competition in the hospitality industry. These are some of the factors why travelers are booking hotels with an ever-closer billing date. According to most experts and recent data, new booking times have been significantly compressed.
If your hotel is constantly shrinking in these last minute bookings you are losing a lot of your income, especially by paying third party commissions that you are losing even more than those stored in OTA.
However, there are ways to deal with this new trend in the fast booking window:
Don’t worry, use it to your best advantage
Instead of shrinking booking windows, hosts should start looking at how to turn that into the best advantage. Make strategies to make your best choices faster with a dynamic booking recovery campaign.
The findings show that millions of passengers with long booking windows are often excluded because hoteliers have a high chance of becoming customers.
Pay special attention to the visitors who visited your website and the dates that match your low business.
It can be a good option to re-enter with missed options to convert reservations and improve your days with very short booking windows! Having more direct bookings and saving money on commission.
Know the occupation forecast
An effective revenue management tool can easily provide you with forecasts for specific dates. Equipped for this, you can easily identify the days / weeks that cause low ADRs and occupations and thus define your pricing strategy.
It captures the email addresses of the website visitor for redirection
When the online prospect looks for the room on the selected days, they will need to enter their email address in the booking process. This way, you have the necessary contact information to re-create if they leave a reservation halfway through.
Submit custom offers
Once prospects have canceled a booking, follow up with an email from their offer, considering your property and offering you a limited time to book your hotel directly. Certainly, these offers reduce your room revenue, which is lower than the commissions you pay to the OTA or other last-minute booking sources.
Reward visitors who show up to book with you or within the time limit for making the booking; You can close reservations earlier. Therefore, reduce the closure of short-reservation windows.