Hotel Marketing Podcast Episode 204 – A Hotelier’s Guide to Black Friday
For decades retailers have relied on a massive sale at the end of the year to push their profitability into the black, hence the term Black Friday. What retailers have known for years has been slow to be adopted by hoteliers. Even now, far too many hotels and resorts are not participating in the annual shopping spree. Millions in bookings are lost every year and the sooner hoteliers jump on the bandwagon the sooner revenue projections and rate yielding for next year can take place.
On today’s episode, we are going to review the article, “The Definitive Guide To Black Friday For Hoteliers” and focus on the specific way hotels and resorts of all sizes can take advantage of the shopping momentum effect of Black Friday to drive bookings and set the stage for an aggressive rate management strategy in 2022.
Black Friday Best Practices Cheat Sheet
- Plan Ahead
- Include Revenue Management Early
- Create The Best Deal
- Give Your Guest History The Best Deal
- Invest In Creative
- Countdown Timers Work
- Align Your Paid Tactics
- Alert Your Technology Providers
- Alert Your Staff
- Plan For An AAR
- Schedule Next Year’s Kick off
60 Seconds To Success
Everyone’s days are very busy, and spending 30 minutes or an hour listening to a sales pitch for a new product or service can seem like a colossal waste of time. However, keep an open mind and allocate an hour or two per month to understand what new products and technologies are out there for hoteliers. You may not, and probably won’t, purchase but what you will do is break away from your day-to-day mindset. This can help you find new ways to use your existing technology, things you may want to implement on your own, or something you may want to budget for in the future. Every new piece of technology we use starts as a pitch somewhere, we suggest you be on the lookout to take advantage of the next one… before your competitors.
Facebook’s New Name is Meta: https://www.theverge.com/2021/10/28/22745234/facebook-new-name-meta-metaverse-zuckerberg-rebrand
Stat of the Week:
Stat of the Week:
Black Friday online spending totals for this year (2021) is expected to exceed 17 billion dollars, a 20% increase over 2020 (source: https://blackfriday.com/news/black-friday-predictions)
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