When Business Stalls, Rethink Your Hotel Offering

How exaggerated!!! Well, at least redefine your business. -Do you own a hotel? -Yes. -And what do you sell? -Beds, meals, drinks… -And what do you think your guest has bought? -Well, that: beds, drinks… -No, wrong! What you sell is one thing; what your guest thinks they are buying is another. Your guest believes they are buying experiences, something more than a simple bed or a simple coffee at the bar. Your guest buys peace of mind, excitement, fun or emotion. Redefine your business, think about your guest before anyone else and offer them what they are looking for. Partner with your competitor-collaborator to create new services (excursions, joint parties, discounts at entertainment venues, nightclubs or restaurants…). Make your hotel a destination within the destination. Do not let your hotel be a warehouse for beds, but rather a hub of activities and entertainment. Find out what is valuable to your guest and work on it. Do not create the product yourself; let your guest do it. Now, when there are fewer guests and more competition, is the time to step forward and explore all your possibilities. Start with vertical collaboration. Hotels, restaurants, leisure centres, parks, nightclubs, pubs… Find your partners by looking around; they are right next to you. See what each can offer and facilitate integration. Create new products, new services, and invite horizontal integration with other hotels. And above all, forget about immediate profitability and think about the future. Periods of stagnation are perfect for changing… for the better.