Revenue Intelligence for Hotels

Revenue intelligence in the hotel industry encompasses the strategic analysis and utilisation of data to optimise revenue streams and enhance profitability. It involves leveraging various metrics and insights to make informed decisions across departments, from pricing strategies to marketing campaigns.

In today's competitive landscape, hotels need to embrace revenue intelligence to stay ahead and adapt to evolving consumer preferences and market trends.

Conversational intelligence plays a vital role in revenue intelligence for hotels, especially in the realm of guest interactions.

By harnessing conversational data from customer interactions, such as inquiries, feedback, and reviews, hotels can gain valuable insights into guest preferences, satisfaction levels, and pain points.

This intelligence can inform personalised marketing initiatives, service improvements, and upselling opportunities. Whether through direct conversations with guests at the front desk or through online platforms and chatbots, harnessing conversational intelligence enables hotels to build stronger relationships with guests, ultimately driving loyalty and revenue growth.

Recent research carried out by Awardaroo revealed that 57% of hotels neglected to do a simple thing that would transform their booking levels overnight and reduce reliance on costly third party booking agents.

Do you address your customers as ‘Sir’ or ‘Madam’, or are you striving to get ahead? Companies getting the edge in their customer service are recognising the benefits of familiarity when addressing their customers. Our Business Coaching for Hotels will ensure you never miss another business opportunity.

Recent call content analysis highlighted some surprising results

We reviewed the call content of 50 calls to different city based hotels further to our blog ‘Is your front desk a proactive front desk or are your teams suffering from complacency and missing valuable bookings?’ and found that in 57% of calls the call handlers failed to offer their name to the caller.

Give your name and enhance trust

When a call handler offers their name to a caller it enhances and promotes trust. If your caller has a name and a personality to talk to, you can make that leap from a faceless organisation to another human being; they become more willing to open up, meaning you have a better chance of being able to help. It gives the caller implied permission to ask you questions and opens up the ability to relate to the person on the other side, increasing empathy and understanding between the parties.

In addition to all of these benefits of knowing a call handler’s name there is one, even more significant benefit: A caller knowing a call handlers’ name legitimises the call handler’s request to know the name of the caller.

Use their name and make a difference

This is something that surprisingly every hotel in our survey failed to do on every call. Yet, it is the one thing that can make the biggest difference to the direction and content of your call. This technique, used extensively in other industries and recognised for its ability to drive emotional attachment increases the likelihood of the caller becoming a paying customer. By treating the caller as an individual and using their name you are telling the caller ‘your business matters to us’.

It enables you to change the dynamics of the call; Instead of sitting in a more ‘servant like’ relationship, you change the relationship to a more interdependent one. This inter-dependency enables your staff to ask more questions and propose alternatives more freely, demonstrating a higher level of customer service and increasing the likelihood of a reservation being made, as well as increasing the likelihood of referred business.

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