The rules of online hotel marketing have changed for several years, and it has been effortless in the hotel industry. There are so many OTAs, Metasearch websites, destination websites, and tools such as the latest booking apps/mobile apps that the average traveler uses more than a dozen websites before making an online booking. Don’t ignore the fact that travelers often switch between mobile phones, laptops, iPads, etc. to conduct research and book travel. Hotel revenue management tools These challenges are minimized.
The ever-changing buying behavior of travelers and the increasing use of online/mobile travel tools have brought both challenges and opportunities to hoteliers. All of the aforementioned platforms provide real-time data and more detailed information about consumers’ online journeys. Therefore, all the reasons why all hotels should start tracking prices through mobile apps are established.
Increased use of smartphones, consumers who have been eager for transactions, last-minute booking applications and penalty-free bookings on mobile devices have made competition in the hotel industry more intense. These are just a few factors that make the hotels booked by travelers are getting closer to their check-in dates. According to most experts and the latest data, the booking lead time has been greatly reduced.
If your hotel keeps lowering prices during last-minute bookings, you will lose a lot of income sources, especially those that are booked through OTA, and you will lose more due to high third-party commissions.
However, there are some ways to deal with the new trend of rapidly shrinking booking windows:
Don’t worry, make the most of it
Hotel operators do not have to bother to narrow the booking window, but should start to focus on how to turn it into their greatest advantage. Develop strategies through dynamic booking recovery activities to convert the best prospects faster.
Research results show that millions of travelers with long booking windows are often ignored by hoteliers because they are likely to turn into customers.
Pay special attention to potential customers who have already visited your site and searched for ad inventory on dates that coincide with your business downturn.
It turns out that this is a huge opportunity to recapture lost potential customers, turn them into booking opportunities and improve the days that have suffered from extremely short booking windows! You can make more direct bookings and save commissions.
Understand occupancy forecast
Efficient revenue management tools can easily provide you with forecasts for each check-in date. Equipped with this feature, you can easily determine the days/weeks leading to lower ADRs and occupancy rates, and define your pricing strategy accordingly.
Capture email addresses of website visitors for retargeting
After online potential customers search for rooms on selected dates, they will be asked to enter their email addresses during the booking process. This way, if they abandon their booking halfway, you can now get the contact information needed to relocate them.
Send customized offers
After potential customers abandon their booking, please send them a special offer email with a personalized greeting to thank them for considering your property and provide a limited time incentive to book your hotel directly. Of course, these offers reduce your net room revenue, which is still less than the commission you pay on OTAs or other sources of last-minute bookings.
Reward visitors who have been shown They are willing to book with you or almost complete the booking within the target time; you can close more bookings as soon as possible. Therefore, the worry of short booking windows is reduced.