How to Turn a Small Hotel Business into a Big Success?
Want to get your hands on profitability and success for a small hotel business?
Being a service provider in the hospitality industry is undoubtedly rewarding, but not without its many challenges. For one thing, running a small hotel business, let alone keeping it successful and profitable, is a constant effort.
The way to succeed in the hotel industry is to constantly look for innovative strategies to exceed your customers' expectations and host memorable events for them.
Along with that, your hotel should provide several of the services and amenities with a personalized experience that guests may find in other elite parts of the town.
Let's go a bit deeper and understand what factors make a hotel business successful.
What Makes a Hotel Successful?
Unlike restaurants and shopping stores, successfully running a small hotel business necessitates a distinct mix of business and leadership qualities.
It is one thing to have a beautiful location, great amenities, and a successful marketing plan. But how you manage your workforce and provide exceptional guest experiences is a different matter entirely.
With more than millions of hospitality providers all around the globe, ensuring your hotel too becomes successful and competitive in the industry is essential.
To achieve success for small hotel business, hoteliers need a business plan with definite goals, which can be defined by being precise about:
- The targets of your hotel business
- The specific measures to be adopted for each target to accomplish your business goals
- The time frame required to materialize your goals
- The workforce you will require to help achieve your targets
You have a structured way to analyze and measure the success of your small hotel management if you have a strategy in order and your targets clearly defined.
Business analytics is another crucial component that needs to be considered for running a hotel business successfully.
Among the most useful are:
- Total revenue
- Monthly profit or loss
- Net promoter score (NPS)
- Website traffic or the number of people visiting your website
- Rate of conversion
Keeping up with customer satisfaction and expectations, helping with staff retention, and implementing new competitive technological solutions are just a few more significant aspects for a hotelier to focus on success for a small hotel business.
How to Manage a Hotel Successfully?
If you want to know how to run a hotel business successfully, there are various things to keep in mind:
Consider Technological Solutions That Can Assist You and Your Workforce in Automating Hotel Operations
The importance of technology in the expansion and success of a hotel is crucial. Whether you own a large chain of boutique hotels or a small hotel, technological solutions can help you excel at hotel management.
There was an era when hoteliers used excel sheets to manage and track their front-office tasks. However, as technology has advanced, the strategies have evolved too, enabling hoteliers to efficiently manage hotel operations. Some of these include:
- Room reservations
- Check-ins and check-outs
- Assigning rooms
- Establishing room rates
- Payment processing
The wave of hospitality industry technologies hasn't slowed for a bit yet. There are countless integrations available nowadays that can not only automate processes but also assist hotels in increasing revenue.
There is now a tech solution for every hotel business operation, whether it be a channel manager, property management system, revenue management system, booking engine, housekeeping module, or anything else you can think of.
So, for your small hotel business, go for all the different hotel tech solutions and see what works for you. If you find tools that meet your expectations and requirements, just go for them right away.
Create Your Online Footprint and Make Yourself Visible to Potential Guests Worldwide
Gone are the days when hoteliers used to rely completely on telephonic reservations. This is the era of the internet, and if you aren’t visible in this space, you’re lagging terribly.
It is essential to have a website for your hotel. It not only gives you a platform to promote your hotel in the best light, but it also drives direct bookings.
You want to give your audience something that would entice them.
Now more than ever, guests are looking for the best small hotels that deliver superior experiences at affordable rates. And that opportunity begins with your web page.
However, if you provide excellent service to your guests, with the help of positive ratings and reviews, you won’t even have to worry about lowering your room rates.
After your website, the next best thing is social media. This is where you'll find your target audience, your potential guests, and to bring them to your hotel, you must be active there and come up with engaging content regularly.
Another platform where you should register your hotel if you want to maximize your digital presence is Google My Business. It not only lets you list your business address on local search results and Google Maps but also enables you to showcase significant information about your hotel.
Lastly, do not forget the OTA (online travel agency) channels. They are especially significant for small hotels because they bring in a lot of bookings and also give your online presence a boost.
Target Visitors from Your Region
When it comes to success and profitability, a small hotel can gain a lot of benefits by targeting local guests.
Many hoteliers believe that only travelers across the globe can bring more value, and they must prepare to cater to them the best they can. However, that is absolutely not the case and is a miscalculated notion.
This has certainly been proved by the current culture of staycation, workcation, etc. A popular trend these days is people actively seeking an escape or getaway from their monotonous lives and staying at hotels for a while to rejuvenate themselves with supreme services.
If you want to achieve the most out of these trends, make sure to target visitors from your region. Whether it is through dedicated marketing campaigns, specific promotional activities, or even changing your price structure, just walk along the extra mile to entice your locals to book a stay with your hotel.
Ratings and Reviews Do Matter a Lot
Customer feedback can certainly help you improve your hotel standards. However, we are not talking about the check-out feedback forms right now.
To narrate about their experiences (good or bad), guests go to social media platforms and review sites.
As we have mentioned earlier, to create your online presence, stepping your foot in social media is a must. However, it works both ways. Simply posting about your quality services is not enough.
Customer reviews and ratings on the same place are of utmost significance too to get more new guests for your hotel. Therefore, ensure that guests are provided with the best services and experiences at your hotel.
Also, keep an eye on your competitors' ratings and reviews. It's a great marketing strategy. Analyze their reviews to identify their strengths and weaknesses. Then make sure you take the necessary actions to flourish in areas where they are performing poorly.
A Capable Workforce Is Essential to Deliver Exceptional Customer Service
Your hotel is not just about its architecture, aesthetic, food, and ambience. The type of services you offer to your guests is also crucial in the hospitality industry. You need a capable workforce that can cater to your guests' wants, requirements, habits, likes, and dislikes.
You must devote some time, put effort, and invest money in training your workforce on all aspects of the hospitality business. Additionally, a small hotel will have fewer staff members than a large-scale hotel; thus, training them will not be a time-consuming and tedious task.
By following these five top tips to achieve success for small hotel businesses, you can undoubtedly give a huge boost to your hospitality business.
What's the Next Step?
At AxisRooms, we have all the necessary technological solutions you need to achieve success for a small hotel business.
Do you find it challenging to update your inventory and rates across multiple channels?
Worry not! Our robust channel manager is here to streamline these tasks for you all at the same place and at the same time.
Do you want to convert a potential guest into a confirmed guest?
You can do so with our booking engine software. From our user-friendly interface, you can modify, update, and create bookings manually with ease.
Partner with AxisRooms and take advantage of our feature-rich tool to run your hotel business successfully.
AxisRooms Editorial Desk
AxisRooms, a software suite provider for the hospitality industry, is committed to aiding your business growth, not just with our state-of-the-art products and services, but also with the latest updates from the travel and hospitality industry. Got something to say? Write to us at: [email protected]