Revinate’s 2024 Hospitality Benchmark Report has simply been launched, with a format that’s much more partaking. This yr’s report gives an in-depth evaluation of over 1.8 billion emails and greater than 37 million visitor critiques from 2023.
With the info completely reviewed, we’re excited to share actionable insights aimed toward enhancing your direct income and elevating visitor experiences.
Our 2024 Hospitality Benchmark Report serves as a helpful device to evaluate your resort’s advertising and marketing methods and popularity administration efficiency whereas permitting you to benchmark in opposition to business friends. Right here’s a sneak peek into 5 key takeaways designed to reinforce your resort advertising and marketing and visitor suggestions efforts.
What you will notice right here
1. Enhancing your database well being considerably reduces OTA-dependency
Roughly 73% of EMEA hoteliers’ database data boast legitimate e-mail addresses not obscured by OTAs, a significant indicator of e-mail well being essential for database effectiveness. Why is that this nice information? The higher your database well being, the much less you rely upon OTAs. You possibly can talk to your company immediately all through their journey and retailer their knowledge in your CRM.
However don’t let these OTA-masked emails be forgotten. We discovered that 31% of uncooked profiles inside resort databases in EMEA include OTA-masked emails, rendering as much as 31% of potential company inaccessible for retargeting. This not solely undermines the potential to realize loyal company but additionally impacts the income earned from reengagement efforts. This might result in elevated prices in reacquiring company and will cut back revenue margins.
So, what are you able to do to make sure no income is left on the desk? Acquire all visitor knowledge and promptly replace e-mail addresses sourced from OTA bookings throughout the property administration system (PMS). With the precise expertise, notably identification decision powered by a Buyer Knowledge Platform (CDP), hoteliers can regain management over the visitor expertise and direct reserving income.
2. Sending extremely segmented emails improves conversion charges
Are you prepared for a visit that feels tailored only for you? The subsequent era of vacationers certain is! They’re all about seamless tech, customized companies, and social vibes. So, how can motels step as much as match these travel-savvy preferences? Properly, it’s all about investing in tech, delivering customized experiences, and creating areas the place connections come naturally.
Our 2024 Hospitality Benchmark Report tells us that when emails are despatched to fewer than 5,000 individuals, they’re twice as prone to result in motion in comparison with emails despatched to bigger teams. This implies it’s higher to ship emails which might be tailor-made to particular teams of individuals slightly than sending the identical message to everybody.
As a substitute of sending equivalent messages to all company, it’s simpler to tailor totally different messages to smaller teams who’re prone to have an interest. As an example, culinary journey is a well-liked pattern this yr. For company who’re meals fans, think about providing particular reductions or €20 meals credit per visitor as a part of their keep.
To assist with this, you need to use a Buyer Knowledge Platform. A CDP will bridge the hole between your numerous administration programs, like spa, restaurant, golf, and others that can assist you establish a single visitor throughout all actions. As soon as you understand your visitor’s particular pursuits, you possibly can tailor your messaging to them. This is sort of a kitchen for a chef, the place they’ve all of the instruments and elements they should make one thing scrumptious. With a CDP, motels can create advertising and marketing campaigns which might be excellent for every particular person, making their expertise even higher.
3. Upselling methods maximizes income
In EMEA, 59% of hoteliers are tapping into the facility of upsells inside their affirmation or pre-arrival emails. This determine surpasses different areas. The affect of this technique is clear, with upsell income from affirmation emails experiencing a notable 14.2% improve, hovering from $73 (€67) to $83 (€76) per reserving. Equally, income generated from pre-arrival emails witnessed a strong progress of 18.8%. These statistics underscore the effectiveness of automated upsell campaigns to create a constant income stream.
Among the many numerous upsell choices, Meals and Beverage (F&B) emerges as the most well-liked selection. Nevertheless, it’s important to acknowledge that what works for one resort might not essentially yield the identical outcomes for an additional. Tailoring upsell choices to swimsuit the distinctive traits of your property can considerably improve their effectiveness. As an example, in case your resort is positioned close to an airport, think about incorporating airport switch gives into your upsell marketing campaign to capitalize on extra income alternatives. Likewise, in case your resort collaborates with native journey brokers, recommending tailor-made day journey packages for households or {couples} can additional increase income streams. By strategically aligning upsell choices along with your resort’s distinctive options and visitor preferences, you possibly can unlock untapped income potential and elevate the general visitor expertise.
4. Encouraging survey responses leads to helpful visitor suggestions
In EMEA, the common survey response price stands at 9.4%, indicating the significance of actively partaking company to assemble helpful suggestions. To maximise the affect of survey responses, it’s essential to implement finest practices resembling routinely prompting respondents to cross-post their suggestions as critiques. This not solely will increase the amount of critiques on your resort but additionally enhances your rankings, bolstering your on-line popularity.
If you wish to study extra about finest practices for successfully leveraging visitor suggestions to drive steady enchancment and visitor satisfaction, learn our survey finest practices weblog.
5. Implementing web site and cart abandonment campaigns leaves no income behind
Are you prepared to rework missed alternatives into income goldmines on your resort? Image this: Out of each 100 guests to your reserving engine, roughly 20 full their reservations. What should you may seize even a fraction of the remaining 80? It’s doable! A easy follow-up e-mail may safe an extra 11 bookings, contributing to the EMEA regional common conversion price of 17%.
Take, for instance, the Pulitzer Amsterdam of the Lore Group. By harnessing Revinate’s cart abandonment campaigns, they’ve achieved astounding outcomes with common open charges exceeding 80% and click-through charges of 21.6%. Don’t miss out on this game-changing technique — discover our complete information for examples and tricks to elevate your campaigns.
Benchmark your efficiency now in opposition to the business’s numbers now
We belief that these insights from our 2024 Hospitality Benchmark Report will assist you to reinforce your resort advertising and marketing and visitor suggestions approaches. Nevertheless, that is merely a glimpse. Our new 2024 Hospitality Benchmark Report gives a wealth of extra data.
To find how The July, IPP Inns, and others improve their direct income and create memorable visitor experiences, schedule a gathering with us right this moment to discover our options additional.
