It is has increasingly become evident that it is no longer a level playing field in term of competition between independent hotels and global brands- the odds this days is in favor of the later than the former.
It is has increasingly become evident that it is no longer a level playing field in term of competition between independent hotels and global brands- the odds this days is in favor of the later than the former.
First off, international hotel establishment such as the Marriot and the IHG of this world are introducing new brands into the market at a rate which independent hotels are struggling to keep up with. Additionally, they are light years ahead in deploying cutting edge technologies to handle hotel management processes. Then there is another worrisome trend: independent hotels are becoming less attractive for elite talents.
These are troubling times if you run an independent hotel. However, all hope is not lost- you just have to play smart to get desired results without breaking the bank.
How? You might ask.
Find out below:
Make your management style and work environment appealing to the best talents
Without doubt, every business is as good as the people running it. Unfortunately for independent hotel brands, they are struggling to attract the best talents available in the market today.
The most talented human resource would rather opt to work with international brands where they are guaranteed travels, career growth and development.
And even if a smaller hotel brand acquires a talent, the possibility of the individual improving their expertise is threatened because capacity development in most of these smaller hotels is lacking.
Another worrisome fact is that top managers such as GMs and DOSMs at independent hotels are stuck to their obsolete knowledge and practice thus resisting positive changes by all means because they find it strange.
To get out of this quagmire, independent hotels need to offer improved pay packages and create a positive environment that encourages career growth and also allows for the development and implementation of novel yet exciting ideas by talented individuals.
Use technology to your advantage
While it might sound farfetched, there are hotels today that still rely on manual methods to check competitor rates rather than using automated systems like rate shopper.
When we talk about technology, you don’t have to worry about acquiring the most expensive tools in the market. But all we are saying is with even basic technology you can save cost, time, and stress- so embrace technological advancement to handle certain tasks.
For example, you can use an appropriate analytical tool to determine the prices. Without which error is prone and the chance of missing out on money generating opportunities is missed.
With technology you can avoid mistakes due to human error, work faster and in many instances it will help you save more money.
Leverage the expertise of hotel marketing companies or consultants
Even if you have an in-house team, chances are they won’t be as knowledgeable and experienced like hotel consultants.
Hotel marketing companies and consultants are trend-on and hands-on so they know the latest practices that work because of their involvement working with top international and local hotel brands.
So when you hire them, you’re paying to leverage this expertise which will pay off both in the immediate and down the line.