What's Happening?
Hotels are gearing up for Black Friday, a global sales event that coincides with the low season in many regions, presenting both challenges and opportunities. Independent hotels are focusing on increasing direct bookings and testing new pricing strategies
to secure early cash flow. The article outlines six steps for hotels to turn Black Friday into a data-driven revenue opportunity, including understanding market and competitor insights, building offers based on real demand, promoting across all channels, opening availability further ahead, and tracking campaign results for future planning. Tools like Exely Price Monitor and Exely Advisor are highlighted for their role in helping hotels visualize competitor rates and track booking trends.
Why It's Important?
Black Friday offers hotels a chance to leverage a typically slow season to boost revenue and occupancy. By focusing on direct sales channels, hotels can increase profit margins compared to relying solely on OTAs. The strategic use of data and analytics allows hotels to create targeted promotions that align with guest booking behaviors, potentially leading to increased repeat business and long-term revenue growth. This approach not only helps hotels navigate the competitive landscape but also strengthens their guest relationships by offering personalized and attractive deals.
What's Next?
Hotels are expected to analyze the results of their Black Friday campaigns to refine strategies for future promotions. By understanding which channels converted best and which offers attracted repeat guests, hotels can develop a structured playbook for next year's campaign. The use of analytics tools will continue to play a crucial role in shaping these strategies, enabling hotels to act strategically and turn low seasons into profitable periods.
