the knowledge and technical
resources to implement a highly
customized and profitable
pricing strategy, accounting for
room and non-room revenues,
booking pace, trends, events and
holidays, customer preferences,
and more. By drawing from
detailed customer data, you
can boost revenue by sending
marketing messages pre-,
during, and post-stay. Perhaps
a guest profile reveals she used
the spa on her last visit. Prior to
her visit, you can offer a package
that includes spa treatments
and fitness classes, encouraging
her to use services she may not
have previously thought about.
Or send a customized post-stay
email thanking a guest for their
stay and promoting the benefits
of your loyalty program.
Group business can substantially
impact your hotel’s profits.
The advanced functionality
of a group-inclusive CRM/
RM solution helps you drive
more group business and
optimize your entire property
– including convention spaces.
Automation lets you capture
first-responder advantage, and
you increase conversions by
delivering highly personalized
media-rich requests for proposal
(RFP) replies. You’re also able
to move beyond minimum
available rate (MAR) and
transient displacement analysis
to evaluate the total customer
value displacement of each
opportunity – in comparison
to both transient and other
group business – looking beyond
rooms to revenue from meeting
spaces, F&B, audio-visual
equipment rental and more. You
can then quote group rates with
confidence, knowing they will
boost overall profitability for
your property.
7. Increase ancillary revenue
The Eye for Travel report,
Ancillary Revenues in the
Hospitality Industry, stated
that more than half of hotels
surveyed found that ancillary
revenue contributed at least 10
percent to their profits, with
another third reporting that it
made up 25 percent of their
bottom line. An integrated
CRM/RM system captures
data on both broad and granular
levels – combining rich guest
behavioral data with information
on guest spend across all resort
revenue sources. This makes it
easy to spot additional upsell
opportunities. And an integrated
CRM/RMS lets you manage this
incremental revenue just as you
would manage your room rates –
effectively generating growth and
profitability.
Furthermore, an integrated cloud-
based combo makes all guest
information easily accessible by
every team, on every property in
your portfolio. So, if a guest visits
one property, then books a sister
property in another destination,
you’re able to provide that guest
with a seamless, personalized
experience that enhances their
satisfaction and helps boost
revenues. For example, during
check-in, a front desk staff
member could say, “I see you
stayed in an upper-level suite
away from the elevator at our
sister property. We have one of
those available, would you like me
to upgrade you now?”
8. Combating the OTA squeeze
Beyond the high customer
acquisition costs with OTAs,
a major negative is the fact
that OTAs provide almost no
information about the guest. An
advanced CRM can pull data from
multiple sources to build a bigger
picture of each guest – often
adding in social media profiles,
and demographics, as well as
interests and lifestyle data. It
also allows for email capture
opportunities as well, so you can
covert that generic OTA booking
into a potential loyal guest you
can market to directly. Your
integrated system can use this
information to create enticing
marketing initiatives, provide
highly personalized experiences,
and ultimately win future direct
bookings. The forecasting and
historical reporting capabilities
of an advanced RMS can help
you optimize OTA contract
negotiations by allowing you
to distinguish between the
incremental revenue OTAs bring
during need periods versus the
revenue-diluting effect they
create during peak periods.
An integrated CRM/RMS
platform automates many time-
intensive and repetitive tasks,
freeing up your employees to
become more involved in the
“personal touch” side of service.
It ensures that every member
of your resort is on the same
page, and connects properties
across your portfolio. It allows
you to determine total guest
value and create more granular
segmentation, which in turn
improves demand forecasting,
marketing, and loyalty program
strategies. Linking these systems
future-proofs your business,
guiding you onto a path toward
increased customer retention
and loyalty, as well as measurable
revenue growth.
Learn more about Cendyn’s fully
integrated CRM and revenue
management solutions for luxury
hotels.
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