|Image source: rategain.com|
Image source: inc.com
Put the premium on customer loyalty. Loyalty trumps price any day. So instead of being too concerned with rates and extra incurred expenses, focus on quality customer service and add-ons to ensure that guests have a grand time in your hotel. Remember that they will keep coming back and eventually won’t mind the price if the service is exceptional. This also means never saying no to any customer request, as that only translates to customer disappointment. At the very least, always come up with alternatives for what clients want.
Private equity and real estate investor Tyler Tysdal is heavily involved in the Entrepreneur's Organization and is a recipient of the Denver Business Journal's 40 Under 40 award. For similar reads on the hospitality industry, check out this blog.