The hospitality industry is one of the most human-intensive businesses, especially within the hotels segment. Because the people are the reason you exist, you try to balance your business on the margin of profit, quality service and staff, and maintaining customer relations. Maintaining this balance becomes more difficult in the face of security management and third parties’ involvement. So, in the face of all the challenges in the sector, how do you cope? Here are five tips to survive in the hospitality industry.
Get Hotel Business Insurance
Although no one hopes for any crisis whatsoever, it’s best to plan for the worst. From the standpoint of security, hotel business insurance is critical. For individuals, it’s rather straightforward to manage security and things that happen in the immediate environment. When it comes to protecting large numbers of people, however, it’s difficult to control everyone’s safety and security. Hence, for peace of mind, you can get your business insured by reputable brands who specifically cover for hotels and resorts.
Maintain Price Integrity
The informed consumer today is perhaps more particular about the prices of where they choose to lodge than ever before. Therefore, as one who is trying to survive in business in the face of many competitors, you have to burnish your brand in other ways. Ensure price integrity for all your customers who lodge under the same conditions (excluding the types of room/service they choose). When advertising on various online platforms, make sure there are no hidden charges above and beyond what people would expect to see when they arrive at your premises. Warn agents and booking advocates to desist from adding any extra charges to your cost, under penalty of losing your business.
Respect your Customers
Because your customers are your lifeblood, you have to respect them and treat them with dignity. Everyone’s a critic in the world of online research and reputation, and your customers’ feedback and ratings are displayed for the world to see and admire — and ridicule. Beyond ensuring that your facilities are up to standard, your staff must be made aware of the importance of their interactions with customers, and how those interactions will be relayed to other potential customers. Every point of direct contact with customers must understand how a lasting impression can be made with courtesy and professionalism: valet staff, bell staff, concierge, front desk, housekeeping, restaurant staff, room service delivery staff. Each of these areas has the opportunity to create a postive or negative impression that customers will share with the online masses.
Be Innovative with Revenues
Based on your data, analyze what works and what your guests like, that can generate additional revenue for you. Learn how you can improve on such qualities and features so that they can earn you more. Perhaps valet parking might be of interest. An expanded restaurant or room service menu with premium items. Partnerships with local transportation or tour companies. Don’t limit your possible revenue to the price of the room.
Invest in an Experienced Chef for Your Restaurant
More than 90 percent of those who lodge in a hotel try out what the restaurant has to offer. An experienced chef can make a dramatic difference in attracting first-time and return business. Additionally, a quality chef can attract customers who aren’t staying at your hotel, bringing in additional revenue. An experienced chef who leads an efficient kitchen will set you apart from the numerous competitors as you seek to win customers’ business.
There you are! While you keep the tracks of these, remember, in the hospitality industry, respect is earned with dignity and honor given to others.