Hoteliers today rely on an attribute-based selling model to provide choices for their guests and generate revenue. However, selling single attributes tied to a room reservation limits growth and does not allow the guest to create the full personalized experience they desire.
Sabre’s SynXis Retail Studio enables you to adapt and meet the changing needs of consumers through an evolved retailing model. Instead of presenting individual attributes that minimally distinguish you from competitors, you can create multiple-attribute offerings and experiences customized by your guests and not necessarily tied to the room.
The result? A successful retailing strategy that yields multiple positive outcomes for hoteliers, including:
- Greater top-line revenue
- Higher guest satisfaction and retention
- Strategic differentiation against competitors
In addition to driving incremental revenue for you and creating personalized choices for your guests, you can stand out from the competition and deliver an experience that brings people back for more.
Pulling New Growth Levers
Today, hoteliers are primarily solving for RevPAR, which means they are confined to relying on occupancy and rates in order to achieve growth. As we have seen over the last few years, resiliency requires many levers beyond volume and rates.
This year’s global tourism is expected to generate $8.6 trillion (6.4% behind pre-pandemic levels), but there is a $5 trillion global e-commerce market that has been untapped by hoteliers. Ecommerce sales are expected to rise to $6 trillion in 2023 (Shopify, 2021). Hoteliers have an opportunity to shift trip-related ecommerce spend to their own sites. When you add more levers, the delivery of hospitality shifts from quantity to quality. Instead of getting as many guests through as possible, you optimize total revenue per guest, unlocking the opportunity to create more memorable, meaningful, and lucrative experiences. This focus on total revenue creates the ability to shift more travel spend to your property.
How Do You Get There?
SynXis Retail Studio empowers you to sell anything and delight everyone. Using its intuitive platform, it allows you to set up marketable offerings at the point of distribution in less than five minutes. Capture more trip-oriented spend by retailing:
- Room Attributes
Now, you can create choices outside the room. With more products and services to offer, you can capture more revenue per guest through personalized choices, thereby creating additional value for your property and guests.
Best Practices to Help You Retail
As you think about what you could offer, it is important to get to know your customers and competitors. The better you understand what your customers want and expect, the more targeted you can make each offer.
Here’s how you can build the foundation for success:
- Get to know your guests by asking them questions about what amenities they took advantage of during their stay, and what activities they participated in outside of your property.
- Study your competition by evaluating their website, booking path, and understanding what makes their property unique.
- Identify ancillaries you can package and sell on-property, possibly untethering products previously included in the room.
- Become acquainted with local attractions and venues that you could partner with to offer choices available off-property in your area.
- Think of how your guests can best enjoy different package combinations to help personalize their stay.
- Make sure you have the staff and tools in place to support the fulfillment of anything you offer.
SynXis Retail Studio’s intuitive platform will help you generate more revenue per guest and deliver a memorable experience. The question is: With the right tool, what will you choose to create?