Navigating demand for your hotel business is one of your topmost priorities and a daily exertion as well under the increased competition in the hotel industry. One way to get an air stream of guests is to frame tactical and distinctive partnerships. The partnership also helps to augment your business reputation within the luxury hospitality segment and give you entrance to your partner’s customer base. In the business park, the partnership is formed and nurtured because they present value to the parties associated. In addition, they help your hotel stand out from your competition as your assets will be providing added value to your customers, which is contrary to replicate. Let us seek the different types of partnership at your disposal to grow your business even further.
Revenue Re-generating Partnership
Travel agents and related websites could steward a key source of revenue for you, as they can convey customers to your property. Take your time to fertilize these relationships. It will help if you are prepared to reward your partners for passing the business to you. For instance, you can grant complimentary accommodation in your property once or twice a year or raise the number of paid advertisements on the website of one of your partners. Review your revenue streams oftentimes and consider how you can expertly manage them or improve your relationship.
By far the most frequent type of partnership formed by the business of all shapes and sizes across industries. Analyze your local area and recognize companies that complement your hotel in charge of branding, vision and service offering. It is necessarily important to consider what value your property could adjoin to their business and how your new partner could profit your hotel. Tailor your approach to suit the requirements of your prospective partner.
The value they contribute to your business does not have to be monetary. You could partner with local meetings, restaurant and other local companies to offer your guests free products and services when they make a large booking or have been a loyal customer for years. To boost exposure for your brand and drive even more demand, it is always worth to broadcast these promotional offers or giveaways on local media and on social media channels.
Creating a partnership with your most valued supplier is too a strategic move. Good, reliable suppliers are challenging to come by and even more challenging is to replace. Acknowledge partnering with suppliers who have built a sizeable audience and whose products you use particularly. Bath products, spa treatments brands, even tea coffee suppliers could be the excellent partners for your independent hotel, as they already help you achieve a unique hotel experience to your guests. When considering his opportunity with your prospective partners, talk about acquiring a joint plan to encourage communication and increase value generation to enlarge opportunities for both the parties.
Your hotel could form a package or bundle that adds value to your ongoing service offering and also strengthens your relationship with the supplier.
Examples of partnership in the Hotel Industry
It is popular for international hotel chains to explore new partnership often as they have strong cross-promotional benefits. A few years ago, one notable brand created an alliance with a major airline to promote their business. The airline was able to promote its routes in this region, and the hotel chain advertised its properties and services through the airlines’ marketing channels and social networks. Other hotels develop a partnership with bath products manufactures, introducing new product lines to their rooms, for example. These types of local partnership are excellent for luxury properties since these products enhance the uniqueness of the guest experience and can also be sold to customers in the hotel gift shop. Both companies benefit from the resulting return on investment, as the demand for their products and services increases thanks to their combined efforts.
The partnership is a prodigious way to generate more vulnerability for your hotel brand. The intrigue to a unique partnership is to reach out to like-minded organizations that share similar goals and are willing to combine energies to achieve them. With a mutual leveraging of marketing initiatives, a brand can lead to new audiences. Moreover, the partnership adds value to their current service offering and with a strong alliance in place, your hotel no longer depends solely on your own marketing channels- you have access to those of your partners too.