One of the challenges that revenue managers face daily is developing new and innovative ways to increase revenue at their properties.
Recently, small hotel trends are indicating that extended length stays are rising among travelers, so this may be an opportunity to generate additional revenue for your hotel property.
Guests who are looking to stay for longer than seven to 14 days would be considered extended stay guests, and their needs are different from those of traditional leisure travelers.
Extended stay guests may require extra services, such as laundry services and high-end housekeeping services. In addition, they may also be looking for small hotels that offer premier amenities, such as common rooms, fitness centers and outdoor living spaces.
You can market specific products and amenities to extended stay guests to motivate them to book with you.
A traditional room at a small hotel needs to include the basic necessities, such as a bedroom outfit, a sitting chair, a desk, a bathroom and possibly a balcony or patio area. An extended stay room will need to be different from traditional rooms, as these guests have different needs and desires. In most cases, the largest difference is the presence of a kitchenette within the room. This allows extended stay guests to cook their own meals in a way that is private, comfortable and affordable. In addition, an expanded living area or sitting room may allow an extended stay guest to feel more comfortable during their lengthy visit at your property.
There are several benefits to extended length stays for you as a hotel operator, including:
There are also benefits for guests who are searching for extended stay options:
Revenue management technology can help you evaluate the various factors that influence a guest to opt for an extended length stay, and this same technology can also use relevant data to help you develop an effective pricing strategy for these niche guests.
You will want to make sure that you revenue management technology also takes into account the various distribution partners that you use in order to attract guests who are interested in extended length stays.
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