As we all know, the tourist and hospitality sectors are facing a major drop in revenues thanks to the COVID-19 crisis. What’s more, this was a small infection in China that everyone assumed until it came knocking on the doors of most countries. Truth be told, no one was ready for a pandemic such as this one.
But that doesn’t mean there aren’t ways to help your hotel overcome these trying times. On the contrary, your customers are still watching your every move through digital platforms. All you have to do is follow the below tips and you’ll be able to cushion your hotel from this crisis.
Top 5 Tips on how to manage your hotel’s revenue strategy during a crisis
These tips are not specifically geared towards the COVID-19 pandemic-no siree! Thankfully, these tips will help manage your hotel no matter the type of crisis that might happen.
1. Check the market change
There’s bound to be some changes in the market during a crisis. So, take your time and study what are the different strategies used during such a period. Some hotels will go with reducing their prices so take a small survey and see how that will help your revenue strategy.
2. Adjust your cancellation policies
Life will continue after a crisis and COVID-19 is no exception. Humanity always has a way of coming out victorious. With that in mind, do not take out the delays in your reservations on the customers since it’s not anyone’s fault.
Instead, allow your customers to extend or even cancel reservations without charging them a dime. You can also encourage your future customers a chance to alter their reservations for a later date.
3. Maintain a sturdy customer support
Your customers will likely look for the best way to reach to your management. That said, ensure your customer support team is up and running so that they can answer all questions asked. That way, the customers will have more trust in your services.
4. Update any changes on your website
Movement from one point to the other might be restricted like for example what is happening with the Corona Virus pandemic. As such, you need to keep your customers well informed about your adjustments. Transparency is the best way to build trust with your potential customers.
If you show the customers that your hotel is supporting both the staffs and its potential clients, they will likely want to come to your hotel after the crisis is over.
5. Create a recovery plan
Like I said earlier, humanity always survives no matter what mother earth throws at us. So, you need to start planning on how to regain your revenue. That said, take a minute to think about your recovery journey and how you will gain your momentum.
The most important thing is to have a positive mind set and believe that there will be a future. Focus your mind on remaining in the market ready for the world to change back to its normal. That will likely give you a head-start over your competition.
To wrap this all up…
Well, there you have it! No one is having it easy during a crisis outbreak like COVID-19. But you need to keep your head in the game. Take the necessary precautions to ensure that your business is still active when the pandemic ends. In case you like to have a quick consult have we can assist your property, please reach out to us here.