Hotels have higher occupancy rates. Increasing their pricing and prices.
Simply put more people are staying at hotels, For example, a 100-room hotel with 90 rooms occupied would have a 90% occupancy rate.
Want a weird piece of trivia about hotels I found today. From hotels, 7% of Americans admit to stealing rolls of toilet paper in hotels. Really? This may have always been happening.
I found out that Jennifer Lawrence for her wedding in October 2019, had an entire room for her wedding dress.
Remember how in the 90’s hotels differentiated themselves with free breakfasts, local calling and a free newspaper. Some Holiday Inns had signs on the road saying “Free HBO.” There is so much more to Marketing than a sign.
I teach Marketing and use a copyrighted concept named the Nine P's of Marketing.
What are people looking for in a hotel?
It’s more than the “core benefits;” problem-solving with the benefits of Rest/Sleep/Pool/ Clean Room and Towels/Location/Quiet that the customer or customers seek when buying the product or service.
They are looking for so much more than location, location, location. Look at airport hotels which have easy access to the airport or special conference rooms for company employees flying in from all over.
Look at amenities at all hotels, with Internet or Wi-Fi access, vending machines, hotel name, reward programs (points added to their accounts for example Hilton HHonors, Starwood’s Preferred Guests. Wyndham Rewards, Marriott Rewards and others).
Plus ironing board, pool, brand's reputation, TV with a good, working remote, "Price" (one of the Nine P's), special offers, value; quality, style; ratings of hotels from previous guests.
There is more to our list that I develop in class: Rest & Relaxation, in Promotion (hotels fight/battle over the claims of which ones have the best beds, sheets, etc.), fitness center, food, special promotional offers, convention services; pillow menu selection, white noise machine, candy, apples or cookie at check-in, and turn-down service.
One thing to look out for: resort fees...they are creeping up. Saw that Palazzo and Venetian in Las Vegas are $45 a day. Yikes Add those fees are added to your room rate.
We discuss these in class, plus all the nine P's. Discuss and review complaints.
Examples are: hotel parking fees can be expensive, this year for two court appearances I paid $39 a day, for hotel resort fees and parking fees.
There are other components of resort fees:
- fee for a room key (just kidding); availability and the poor working order of the fitness center equipment; the printing out of an airline boarding pass can cost: $7.50; refrigerator; surcharges for phone calls; wireless access; roll away beds, up to $60; mini bar stocking; receiving faxes or packages; room service: (surcharge, delivery fee and mandatory gratuity; check out too early or too late fee; storing bags and wake up call.
I'm adding Covid-19 safety concerns and precautions: In 2021, I'm adding "Verified" hotels and Sharecare, with Forbes, which has a program of hotels looking at 360 aspects, as in 360 degrees; standards are applied on hygiene, health, safety cleaning products, procedures, ventilation and physical distancing procedures.
Earlier I found it interesting that the Benjamin Hotel in Manhattan is offering work-down calls. It’s the opposite of a "wake-up call." The guest arranges to have the concierge call at a specific time or times to remind the guest to go to bed and sleep. By the way the Benjamin’s rates for New Year's start at $400.
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
- People
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Look at new, existing and repeat customers.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the "Customer," or "People."
- "People" or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Planning:
- It starts with research and researching. This element of planning in the nine P's is a method for achieving an end, and, looking at the eight other parts, can be a detailed formulation of a program of action.
- Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
- Review dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
- Product and Services:
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- The goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- Place (Distribution):
- Offering the right product at the right PLACE, at the right time, at the right price. It's the company’s activities that make the product available, using distribution and trade channels, roles, coverage, assortments, locations, inventory and transportation characteristics and alternatives.
- Considering, developing and reviewing store and non-store, e-commerce and “brick and mortar” factors, considerations, objectives, strategies and tactics, including “Partners.”
- Price:
- Simply, all aspects regarding pricing.
- “Pricing” is the sum of the values that customers exchange for the benefits of having or using the product or service.
- The amount of money a consumer is willing to pay to obtain the product. Pricing includes wholesale/retail/promotional prices, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods and credit terms.
- Pricing decision making also involves adjusting prices concerning the competitive environment, economic situations and involve buyer perceptions.
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities.
- The activities that communicate the merits of the overall product, which include:
- Personal Selling/ Sales Force: Sales persons:
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising: There's an expression "It is only creative if it sells." I wanted to add "It is only good media spending if it sells."
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences
- Public Relations/PR
- Here are more strategic questions under Promotion, for hotels::
- Evaluate the eight elements and your practices and ask is there a better way?
- What are your costs in dollars and manpower or person power and ask "Is there a different way or ways?"
- Look at different partners? Their costs?
- To whom should you promote? Under People/Targeting, target audience falls here.
- What should you promote?
- Discounting? Sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners:
- Also referred to as Alliances. Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- With "Partners" and in Marketing, it is vitally important to partner with firms that have similar corporate philosophies, with agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting, displaying and putting forward any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
- Look at “real” product and service experiences.
- Enabling consumers and “allowing” them to feel the brand. As part of "presentation," I also place “events and experiences” under Promotion.
- While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
For more on insights, ideas, concepts and Marketing solutions: Go to londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 40+ stimulating questions and answers at Londre Marketing Consultants, LLC.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 40+ stimulating questions and answers at Londre Marketing Consultants, LLC.