What do I need to consider from a revenue perspective when I reopen the hotel?
May 28, 2020 | Ask Duetto Team
When reopening the hotel, something to reconsider would be to look at your business almost as a new opening because it is not possible to compare to last year, or to even two months ago. Set yourself up to approach this as a new opening and see what has changed.
If you were reliant on inbound international travel, and that is no longer happening, then you will need to think creatively about who you can address in your market, who is traveling and who will create potential demand for your property or your market?
Try to understand who your new customer could be, how you can reach them and also who your new competitors are? Maybe the competitor that you were looking at previously has changed strategy? Maybe they are not in the market anymore? Or maybe there are new players that have been able to react quicker and are now addressing the same customer base as you?
Be creative. Those people that can act fast and are willing to take some calculated risks might, in the long term, actually see some benefits out of this.