What will we cover?
The Great Recession hit hard and caused many properties to lean heavily on OTAs to fill gaps and hit occupancy goals. This resulted in quick over-reliance on OTAs and contracts binding properties to using third-party intermediaries much more than desired. This increased cost of guest acquisition was significant with commissions to OTAs exceeding the increase in revenue.
As demand returned the initial response was to pull back from the OTAs, but smart hospitality professionals realized that they will never be able to compete with the OTAs on marketing spend and brand awareness.
So, what should you do?
You need to know which booking channels are your most productive and profitable. Understand what demand is coming from which channel. Then you need to understand all the related fees, including commissions, to determine true profitability by channel.
In addition, you should have a solid plan in place to focus on guest satisfaction, excellent services and truly knowing your guests so they will return for a second, third or more stay.
You will walk away with:
- Understanding all the costs of inbound channels of demand
- Strategies for managing each channel of demand for maximizing profitability
- An in-depth look at the role voice channel and CRM platforms play in encouraging an OTA-friendly direct booking strategy
- Insights into how to best work with the largest OTA companies