Optimizing Hotel Inventory: During and After the Crisis
Posted by mdo on April 20, 2020 in Best Practices
There has never been a more critical time for hotels to ensure they are utilizing their spaces, bringing in revenue in unique ways and helping the hospitality industry at large in any way they can. In this blog, we’ll explore a few unique ways to maximize the use of all the space you have in your hotel and bring in additional revenue by optimizing often overlooked spaces once your hotel is back to operating at normal occupancy levels.
During these uncertain times, if your hotel is currently closed, many hotels in the same situation are pivoting the use of their hotels as impromptu hospitals for COVID-19 patients and, in turn, bringing some revenue and jobs back into their hotel.
Right now, hotels in the Chicago area are opening their doors to COVID-19 patients instead of their usual hotel guests – leading to hidden benefits for the hotel and reinstatement of some hotel staff. These hotels are being compensated for the use of their space and have been able to bring back online some housekeeping, kitchen and other staff members. In these unprecedented times, every job added and revenue incurred will positively impact hotels in the long run. An additional bonus – doing your part to slow the spread of COVID-19 by providing the much needed additional hospital space without having to wait for the construction of temporary medical facilities.
We know what you’re thinking – no hotel wants an episode of Grey’s Anatomy in their lobby, but rest assured, these hotels are being used as small “field branches” of major hospitals in the region, where existing rooms, kitchens, and laundry facilities can be leveraged to treat patients with mild cases of COVID-19. This then frees up hospitals to focus primarily on severe cases that need critical attention and advanced resources.
Let’s look into the future a bit. Your hotel is back at full capacity and guests are once again coming through your front door. It’s no secret that hotel revenues and bottom lines have taken a hit during the months where COVID-19 halted tourism. We’ve got to make up for lost time.
Here are a few creative ways to put your hotel back on the map by earning incremental revenues from often overlooked meeting spaces you already have on your property.
1. We have to credit our friends at Social Tables for this one – but it’s definitely worth considering. If you’ve been to a wedding lately you know that “farmhouse” or “rustic” is leading the charge as an event theme and decor inspiration. Exposed brick, unfinished ceilings, open floor plans – you name it. Sound familiar? We’re talking about your parking lot or even the top level of your garage. Millennials today might prefer this to your fanciest ballroom. Sound crazy? Maybe a little. Worth a shot? Absolutely.
2. Similarly, are you putting a price tag on all the courtyards and green spaces on the property? Guests will love the outdoor options for weddings, cocktail hours, team building events and so much more. Here at myDigitalOffice, we’re on a mission to make hotels more sustainable and save trees along the way. As part of your CSR initiatives, add some trees and landscaping to any unused areas around the hotel – creating more meeting options and leaving no space at your property wasted.
3. Utilize public spaces for meetings. You can sell your gym for a private workout class or use your business center as a co-working space. In today’s world – guests are all about accessibility. If you can co-locate their lodging, office and gym – you’ve made yourself a guest for life.
Once your hotel is back online, it’s time to get creative and start thinking of ways to ramp up your revenues. This can be done by streamlining your operations, enhancing your marketing efforts, and by being creative with your hotel spaces. Space makes waste & waste is not good for the environment or your bottom line. As the curve of COVID-19 begins to flatten, we’re here to help you be ready when the time comes to reopen.
If you are looking for more information on how you can speed up your hotel’s recovery from COVID-19 effects, read more about the new data resource we are offering, free of charge.