Your website – the best online channel
My website is my single most profitable channel of revenue – This is ideally the goal for all hotel owners. Simply it is the most profitable channel.
One of the key factors to achieve this is through identifying what keywords your audience is searching for and ensure your website is findable through these keywords. You could look at your competitor hotel and figure out what key words they have used to appear in search engines. One of the best ways to find the right key words is through the Google Key Word Tool available on Google Adwords. One does not have to be a paid user for accessing and benefitting from the key word tool.
Google is continuously looking for fresh content, so the hotel should be able to generate new content. This will ensure that when customer does a hotel search, the search engine will pick up the ones will regular posts and updates on the website. Having a blogs on the hotel website helps enormously.
Better relationships, better profitability!
Avoid worrying about things you cannot completely control like Web Rankings – instead focusing on new partnerships and stronger relationships with your channels will be critical. And this matters to online channels too. Build a relationship with your Online Travel Agency Market Manager just as you would with your retail travel agent who is sending customers.
And when the going is complex, get help if needed and gain best practices quickly.
Take some risks!
Pricing is a sensitive topic and understandably so. There is an element of risk and many hotels do not adapt their pricing to market changes which can be disastrous in the long term.
So is there a safe way to test pricing changes? Yes there are – a hotel could test with a lower or higher price 3 months ahead so that the impact is minimal. Or use packaging as a method to try out some different pricing.
But why do it? Because your competition is already getting it right and demand curve is directly related to price.