Return To Market: Planning 60 Days Out

July 22, 2021 | Sarah McCay Tams, Director of Content, EMEA

With restrictions easing in more tourism destinations around the world, hotels are starting to see a return to more traditional trading conditions. 

In this blog series, we are looking at the tactics you should be considering 90, 60, and 30 days out. 

In this article we are looking at what action you can take 60 days out – whether that’s 60 days from stay date, re-opening date, or a forecasted uptick in demand.

In this period, it’s time to consider how you can best forecast last-minute demand and capitalize on those demand opportunities accordingly.

[Discover more about the measures you need to take to be proactive in your revenue management right now. Download our Special Report, How To Build A Net New Revenue Strategy, today.]

Following on from your 90-day strategy, consider how groups (social in particular) are going to impact your ability to accept last-minute travellers and how you can avoid having to rely upon last-minute demand once groups are back in the mix.

4 Tactics To Swell Last-Minute Demand

Upsell - With booking windows remaining fairly short-term, hotels need to double down on upselling efforts to maximize on rate and profit. You cannot create more demand, but you can find ways to get additional revenue out of the people that do book with you.

Drive Direct - What is also more important than ever is, how do you obtain that guest’s loyalty, so that the next time they visit they book direct with you instead of through an OTA? That requires a doubling down of efforts in digital marketing. For example, having a strategy for your metasearch and distribution is vital. Make sure you are strategic about where you have a presence and when. Look at the periods of low demand and be sure to invest where appropriate. The consumer is now trained to shop around. They may be searching by your hotel name, but it will most likely be an OTA listing that shows up first in the search engine results. Make sure that all your listings are optimized.

Target Packages - Target sources of business that are less likely to cancel and book further in advance, perhaps because they have an airline or car rental associated with their booking.

Review Min/Max Bounds - Considering the impact of COVID-19, it is likely that changes were made to your Min/Max Bounds in the last year to account for the “new” market conditions. With demand gradually returning, it is recommended that you review your Min/Max Bounds and seasons to ensure that they are updated to reflect the recovery that is to come.

By ensuring you are pricing right and targeting those travellers looking to book you can push the needle on demand and ensure your property is remaining competitive in the market.

This blog is part of a series outlining what measures you need to take to shore up your revenue strategies 90, 60, and 30 days from guest arrival or reopening date. Next week we look at Planning 30 days out.

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