As we step into 2024, the landscape of hospitality is evolving faster than ever. One component of a successful hotel revenue plan is group sales. If you're wondering “How do I grow my share of group sales this year”, you're in the right place. Buckle up as we dive into the predictions for group sales in 2024, the current customer landscape, and some high-impact strategies that will set you on the path to success.
2024 By the Numbers… What Are the Pros Predicting?
According to HospitalityNet, “in 2024, group sales in the hotel industry are projected to reach $190 billion by 2024. With that, group room nights are projected to scale new heights in the first half of 2024..”
CoStar reports “Group demand is coming back at a stronger clip in 2024, and for some hotel companies it's shaping up to be a landmark year, ” with companies like Davidson Hospitality stating that “meeting and group business is a critical and large makeup of their business; projecting 1.5 million group rooms in 2024 across their 83 hotels.”
Understanding the Current Group Sales Landscape:
Before we jump into the nitty-gritty, let's take a quick look at the current trends in group sales. The pandemic has reshaped the way people plan events, and hotels need to adapt. Hybrid events, smaller gatherings, and flexible booking options are on the rise. Here's how you can leverage these trends to your advantage:
Flexibility is Key: In 2024, flexibility is not just a buzzword; it's a deal-breaker. Ensure your hotel can accommodate last-minute changes, provide customizable packages, and offer lenient cancellation policies. This flexibility will make you more attractive to event planners.
Embrace Hybrid Events: The era of purely in-person events is behind us. Hybrid events, combining virtual and physical elements, are gaining traction. Equip your meeting spaces with the latest technology, offer robust virtual solutions, and market your venue as the perfect place for hybrid gatherings.
Strategies to Skyrocket Your Group Sales:
Now that we've laid the groundwork, let's dive into practical strategies to skyrocket your share of group sales.
1. Know Your Niche:
Identify your hotel's unique selling points and tailor your approach accordingly. If you're situated near a convention center, focus on targeting conference organizers. A beachfront location? Emphasize your suitability for corporate retreats or weddings. Knowing your niche helps you tailor packages and marketing efforts.
2. Leverage Technology:
Investing in the right technology can be a game-changer. Utilize a Hotel Sales and Catering Software to keep track of leads and personalize your communication. Embrace online booking systems and ensure your website is user-friendly, with clear information about event spaces, capacities, and virtual tour options.
3. Develop Relationships with Event Planners:
Cultivate strong relationships with event planners and professionals in your area. Attend industry events, join online forums, and network on social media platforms. Being top-of-mind when an event opportunity arises increases your chances of securing business.
4. Create Irresistible Packages:
Craft packages that cater to the specific needs of different types of events and make them pop visually. Whether it's a wedding, a corporate meeting, or a family reunion, offering tailored packages with inclusive perks can be a compelling selling point. Also with the rise of tools today like Canva, and Photoshop becoming easier to use, there is becoming less of an excuse to give your items a visual pop.
5. Showcase Your Spaces Effectively:
Invest in professional photography and virtual tours to showcase your event spaces. High-quality visuals give potential clients a clear understanding of what to expect. Your multi-million dollar property deserves better than just Iphone pictures! Consider creating a dedicated section on your website for event testimonials and success stories.
6. Stay Active on Social Media:
Social media isn't just for personal use—it's a powerful marketing tool. Regularly post about successful events, behind-the-scenes glimpses, and any unique features your hotel offers. Engage with your audience by responding to comments and inquiries promptly.
7. Offer Incentives for Repeat Business:
Create a loyalty program for event planners who consistently choose your hotel. This could include discounts, exclusive access to new facilities, or complimentary services. Building long-term relationships is as crucial as attracting new business.
8. Keep an Eye on Industry Trends:
Stay informed about the latest trends in the hospitality and events industry. Attend webinars (hint we have one coming up on January 17th!), read industry publications, and follow influencers. Being aware of emerging trends allows you to adapt your offerings proactively.
Conclusion:
Growing your share of group sales in 2024 requires a combination of adaptability, innovation, and a deep understanding of your market. By staying ahead of trends, fostering relationships, and showcasing your hotel's unique offerings, you can position yourself as the go-to choice for event planners. Remember, success in group sales is not just about selling rooms; it's about creating memorable experiences that keep clients coming back for more.
If you are really interested in growing your group sales, we recommend joining our webinar with Groups360 (serious group sales pros) this January 17th, 2024 at 9AM PST. You can sign up here
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