How to improve your hotel’s revenue by $30K+ per month

$30K in cashThat is not a typo.
And it’s at the low end of improvement.

We just showed a local hotel’s marketing manager a $100,000+ per month improvement opportunity.

Since it started, social media engagement has looked like a great idea to improve revenue at hotels.

Books have been written – based on experience and gut instinct.
Now academics have wrapped numbers around those hypothesis.

Researchers at Cornell University have done the research and found that hotels responding consistently on social media can raise their rates by 11%.
How big a net profit increase would that be?

I’m a simple guy – here’s how that math plays out using a 10% increase for ease of calculation.

Using a 100 room hotel with an average nightly rate of $100. ( this equals $10k/night revenue )
A 10% increase in revenue is $1,000/day or $30k per month. If you have a higher average or more rooms – your numbers go up.

To reach this, you need consistent social engagement 24×7. That’s the question the researchers were after – “what’s the ROI of social engagement?”.

How do you get started? Prove this for yourself?

That’s where we come in.
Red Rope Social provides 24×7 engagement.
Our live team is on the job around the clock supporting your guests. All team members are on-shore and have years of experience.

How soon do you want to raise your revenue?
Let’s talk 🙂

What is a hotel review and what is it worth?

Hotel reviews are an interesting game – and few hotels play it well.
 
Today’s topic – what’s that review worth ( and what is a review anyway )?
If hotels knew what reviews were worth – they’d likely all play better.
 
TLDR: reviews drive 80-90% of booking decisions and the majority of reviews are NOT where you’ve been looking.
 
Reviews are great for guests – they provide information to compare hotels across known and niche brands.
Like you – hotel guests want to enjoy a great experience and reviews help travelers compare across various hotel properties.
 
Multiple research projects point to review data as the #1 reason a guest books a given hotel.
They also expose the exploding definition of what your guests see as a review.
 
Guests today see hotel reviews as: Instagram photos, Facebook comments, and posts from their hundreds ( or thousands ) of social media friends and followers.
 
Guests today don’t care as much about traditional travel review sites like Expedia, TripAdvisor, Travelocity, Yelp, etc.
In our audits – we typically find social media posts account for 10-100 times the volume of posts on traditional review sites.
 
Direct bookings happen because you visibly reply, comment, and engage with social posts.
That’s everyone’s first level decisions process.
If you aren’t in there – you aren’t visible.
 
When they can’t find anything in social media, they go to a “traditional” review site ( but seriously – every hotel has geotagged and guest created Instagram photos so why use a review site? ).
If someone is reading reviews on a review site – they will likely book from there ( with the associated costs to your hotel ).
You want as many social media decisions as possible – because it’s the direct booking driver.
( and we’re pretty sure direct bookings are what you want – right? )
 
Back to that TLDR – reviews are worth at least 50% of your revenue and the definition of a review has expanded.
How are you staying in the game?
 
Red Rope Social provides 24×7 live coverage, response, and escalation – priced scalably ( like Starbucks ).
We cover social ( i.e. Instagram ) and review sites – so you can sleep at night and get the direct bookings you want.
 
Contact us for a free audit and strategy plan.