And if you have not done so – you have some catching up to do.
As the world takes its first cautious steps toward recovery, it is the time to prepare for what comes next. Whether you stayed the course and remained open, or made the difficult decision to close your hotel, you hopefully took this time to plan and prepare your recovery path.
During the last few weeks, you should have completed the following actions:
- Determined the target accounts with offices near your hotel: Identifying businesses within concentric circles around your hotel – 2 miles, 5 miles and 10 miles.
- Understood the meeting history of these accounts: Looking at both activity at your hotel and within your market. Has the account used your hotel or others like yours in the past? If not, they are likely not a good fit.
- Researched your relationship with these accounts: This goes beyond just bookings to the depth of your local relationships. When is the last time you talked to anyone at that local office?
- Sourced contacts for those accounts: Account contact data could come from within your own hotel CRM, the company website, or a third-party source.
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Let’s be honest — if your hotel has not completed these four steps, you are in a dangerous spot and risk falling behind the market rebound. The good news is you can catch up. These are things you should be able to knock out quickly to get your hotel back on track.
As you complete these tasks and begin developing your recovery plan, visit the Knowland Hotel Recovery Dashboard and see exactly where your hotel is in comparison to the market recovery. The Dashboard also prescribes 30,60, and 90-day Recovery Action Plans based on your position on the recovery curve to guide your priorities in the coming days.
Your best bet at a strong recovery is proactive drive market development aligned with how businesses are reopening in your local area. Knowland can help you get started!