Revenue increasing ideas to boost your hotel

Your hotel’s rooms are your main source of revenue but it doesn’t have to be the only one. In fact, many business owners have implemented revenue increasing ideas to pull through and even thrive during the pandemic.

You probably already know upselling and cross-selling are two perfect revenue generating examples but there are many more. Keep reading to find out what else you can do to bring extra revenue to your hotel.

Host creative events and conferences

Every space in your property has potential. Think of new ways to monetize them apart of the old business meetings and weddings.

Invite local artists to perform at your hotel. Have local bands play at your bar or restaurant or host recurrent concerts to showcase the talent in your area. If you have hotels in different cities you can even put together a tour with acts visiting each of your locations.

A lot of entertainers already have a following that will visit your hotel to see them perform. It will introduce your facilities to a new crows of locals that can recommend you to visiting friends and family.

Be pet friendly

Welcoming pets not only increases bookings, offering pet services can become a major revenue stream. Pet owners will gladly pay extra to have their furry friends with them. They will pay even more if you can offer them a special experience like grooming and pampering.

Need ideas on how to turn your place into a pet friendly space? Check out these 13 pet-friendly hotels.

revenue increasing ideas

Rent out your facilities

Your amenities don’t have to be for guests only. Locals might be interested too. Offer a day pass for families who want to spend the day by your pool, or a monthly membership for the gym.

If you already have a spa, why not advertise it to your neighbors? Community groups might be looking for a place to hold their meetings for a few hours every week. Contact event organizers that can help make your hotel the home of upcoming seminars and workshops.

Offer special experiences and activities

According to a study by Expedia and The Center for Generational Kinetics 74% of americans prioritize experiences over material products. In fact, 49% of both Gen Z and Millennials would sell clothes or furniture to save money to go on a trip.

Gen Z travelers value adventurous experiences. Millenials and Gen X are looking for relaxations, while Baby Boomers prefer traditional experiences like sightseeing. Study the demographics of your guests so you can best plan the type of experiences and activities you should offer them.

There are many revenue increasing ideas you can implement in your business, you just have to get creative.

If you’re looking to do something like this at your hotel, but you don’t have funds to invest maybe you should look into saving money in other areas, laundry for example. Leasing equipment with Southeastern can save thousands on your operational costs. Asks us how!

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