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Hotel Impact and trips around Covid-19

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Hotel Impact and trips around Covid-19

  1. 1. ImpactandTips AroundCovid-19 Liz Day
  2. 2. AboutMe • Liz Day • Director of Digital Services • Oversees the marketing and website design team • Proud owner of Teddy
  3. 3. Outline • Industry update • Short-term strategies • Long-term strategies
  4. 4. Industryupdate
  5. 5. rezStreamproperties’bookingsandcancellations
  6. 6. “… when we look to SARS we can see that even after a severe decline, hotels recovered occupancy rapidly - within 3 months of eased travel restrictions.” Robin Rossman, Managing Director, STR
  7. 7. Short-termstrategies
  8. 8. PaycheckProtectionProgram • There is no cost to apply • The funding is meant to help retain workers, maintain payroll, and cover rent/mortgage/utility expenses • The loan covers expenses dating back to February 15, to June 30, 2020 • The loan can be forgiven and essentially turn into a non-taxable grant
  9. 9. Short-termstrategies • Adjust cancellation policy to encourage stay date adjustments for up to a year or simply provide gift certificates in exchange • Block out availability if property has had to close temporarily, i.e. booking engine and third-party sites • Ensure your booking engine policies match your new policies you posted • Ensure the policies on your email confirmations match your new policies
  10. 10. Short-termstrategies • Offer low contact check-in and check-out options for guests • Update room or unit descriptions to speak to cleaning procedures within the first few sentences to reassure potential guests
  11. 11. Short-termstrategies •Deep discounting won’t make much difference, since travelers are concerned about health and safety
  12. 12. Short-termstrategies • Create landing page that outlines how the property is handling business amid Covid-19
  13. 13. Short-termstrategies • Focus on bottom of the funnel marketing activities and staying connected with loyal guests • Examples of tactics include search engine optimization, Meta search, social media and email marketing
  14. 14. Short-termstrategies • If you’re running pay per click campaigns: • Monitor return on your investment • Remove any locations that have travel bans • Update ad copy to focus on future stays • Invest in mobile gaming and video as people spending more time online
  15. 15. Short-termstrategies • Re-think current packages being offered that encourages low contact, i.e. take-out dining options • Promote direct bookings to ensure your guests receive the best customer service
  16. 16. Short-termstrategies • Develop advance booking special to encourage future bookings
  17. 17. Long-termstrategies
  18. 18. Long-termstrategies • Since drive-in markets will likely re-open before fly-in markets, focusing on special rates for in- state residents and weekend staycation packages can be among the first wave of pushes into the market
  19. 19. Long-termstrategies • Increase pay per click and Meta search budgets to capture more business if budget adjustments have been made
  20. 20. Long-termstrategies • Continue promoting direct bookings and free incentives • Offer loyalty rates to valued guests • Offer a new guest discount to acquire new business • Partner with local businesses if it’s win-win
  21. 21. ThankYou E: Liz.Day@rezStream.com P: 303-872-0214

Notes de l'éditeur

  • Don’t turn your booking engine, block out availability for the next few months to be safe, but still allows you to capture revenue for June/July/August
  • Although there are differences, we can learn a great deal from SARS in terms of speed and length of the recovery process.
    The coronavirus crisis is unlike anything the travel industry has seen before - but, it is not going to last forever. And when things do start improving, the speed of that recovery could match the speed of the fallout, according to new research from MMGY.
    Recovery mindsets to start shifting 45 to 90 days after the peak.
  • MMGY Global data on the traveler response during Swine Flu, you get a sense for how travelers think about decisions during crisis.
    31% canceled outright while the majority modified their travel plans.
  • The Paycheck Protection Program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
    This is a nearly 350-billion-dollar program intended to provide American small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans.
    You might be wondering, do I qualify? Yes … Small businesses, sole proprietorships, independent contractors, and self-employed individuals can all qualify
  • Don’t turn your booking engine, block out availability for the next few months to be safe, but still allows you to capture revenue for June/July/August
  • In the long-term it can have negative impacts on your business.
    People often perceive quality based on price. Selling your rooms too cheap will give travelers the wrong impression and harm your brand image.
  • Maintaining a voice with current and prospective customers is vital. Marketing has never been so valuable.
    Research has also shown that properties that continue advertising through recessions garner greater market share when the recession is over.
  • Leisure travel will pick back up first, followed by corporate travel and then group travel.
  • We have also been seeing a substantial increase in road trips in the U.S. over the last two years, which will help properties in the early months of a recovery.
  • You should also realize that travelers will expect something extra as you lure them back, which means special fares, a recognition of their loyalty, interesting amenities or partner offers.
    For a local or domestic traveler coming on a weekend getaway who has foregone their exciting overseas trip, try tying some tickets to local attractions into a three-night stay package for example.
    If these businesses are closed, consider putting together an itinerary to visit the perfect picnic spot, nature walk, or self-guided tour.