New Report: Why Hotels and Their Investors Are Leaving Millions on the Table

For an industry built on hospitality, hotel customers are too often treated as commodities. The business model of selling rooms and measuring financial success by the number of heads in beds and the amount of add-ons for each room’s tab has proven to be too narrowly focused. It limits stakeholders’ opportunities for growth by overvaluing the asset itself and undervaluing customer experience and affinity.

By expanding the parameters of what it means to be a hospitality company and focusing on the function of a property rather than the form, operators will be able to deliver better services and unique guest experiences, thereby expanding their addressable customer base and increasing their return on property investment.

In this report:

• How hospitality stakeholders can build a larger, more loyal customer base and drive more revenue by positioning their properties as community assets
• Why the industry should reframe its sales and service models using a customer profile as the base revenue unit, instead of a room
• How reframing revenue models around customers, whether or not they purchase a room, will increase profitability, provide higher returns on real estate investments, and better fulfill the industry’s broader mission of providing human-centric hospitality
• How properties can use their spaces more effectively by leveraging technology to integrate customer relationship management with property management systems