During a recent webcast, Knowland’s VP of Product Development, Kristi White, discussed the state of meetings in the industry, particularly as it relates to the smaller hotel property. Throughout the presentation, Kristi posed a series of questions to attendees to gauge recovery and get a pulse on the market from the listeners perspective. Below are our four key takeaways that every small hotel sales leader should be thinking of. You can watch the full webcast here.
Four Key Takeaways for Small Hotel Properties Looking to Increase Group Business Opportunities
- The Time to Sell is Now – Group business that is returning is the small, intimate, hybrid type of meeting. It’s time to sell and begin close to home. Do so by identifying local businesses that are looking to hold meetings.
- Agree on Success Metrics – How we define success today doesn’t look like what it did a year ago. The old metrics simply will not work in this environment. Develop new metrics and set new activity goals.
- Small Hotels Rule – While larger properties have their advantages, for many travelers that are booking today the small hotel is the preferred choice. Perceived safety, and the advantage to be more personal and responsive to the guest are king. If you are with a small property, use this to your advantage and ensure that local people and meeting planners know you and know your capabilities.
- Panic is the Enemy – Focus on rates and beware your distribution strategy. Don’t mortgage tomorrow and be prepared to pivot to boost your profitability. Discounting doesn’t drive demand, especially today. Protect your rates to stay competitive.
Join the discussion and attend Kristi’s next two webinars on Hotel Marketing in a Recovery Economy on October 7 and Hotel Sales & Revenue Management: The New “Power Couple” on October 22. Click here to register today.
We look forward to seeing you then!