Promotions are especially important on OTAs, where consumers are searching for hotels and looking for value. Your hotel is one of many choices that consumers will scan in seconds, so the right promotion is about more than a lower price. After all, they have no idea what the price used to be!
Think about it this way... if you are going to lower rates and get less revenue per night, you should at least expect a significant increase in booking volume. But if you do it the wrong way, you could end up with lower rates, and very little volume increase. In many cases, total revenue goes down. You might call that a lose-lose proposition.
Instead, you want to build a promotion that will increase your visibility and volume, which means you need to make sure you get banners and strike-throughs and other online merchandising that will :
* Raise ranking in OTAs, so your hotel appears higher in the search results
* Grab the attention from consumers that are looking for value
If you do it right, promotions can be extremely profitable for your property overall, by filling more rooms consistently, which helps you cover more of the high fixed costs of a hotel.
Watch the short video below and let us know if you have any questions:
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