Historically most companies get 80% of their business from 20% of their customers.
Each of us knows who our top customers are. Majority of a full service hotel’s profits come from rooms and banquets/catering.
What Are You Doing to Optimize Business from these 2 Segments?
Clients are telling us they are getting more meeting business the first half of 2010 from smaller companies.
We asked them what they were doing to increase the spend. Here are few of their comments:
- Encouraging breakfast meetings. Very small groups can use the restaurant. Larger groups use meeting rooms. Some groups just want light breakfast, others want full breakfast buffet so they can start their meeting while the group is eating. A few groups broke up before noon, so providing breakfast ensured the hotel maximized F&B revenue from the group.
- Another hotel found groups had lunch at the hotel, but let their groups go elsewhere for dinner. Hotel started selling evening cocktail reception from 4-6 PM for these groups. They got additional revenue from the cocktail reception with pool table, foosball, and poker for matchsticks including lessons. They found 25% of the group ordered dinner in the hotel so they could continue the games, which typically evolved into business discussions. The clients felt they got additional mileage from their meetings, and the hotel got additional dollars from their groups.
- Another hotel surveyed the Top 20% to ask what additional amenities or activities they would like to offer their groups. One company wanted to offer something for their Secretaries who always arranged groups, but didn’t get to attend. They asked for a floral workshop. The hotel contacted a local florist who offered to do it for only the cost of the materials. No room nights, but a fun afternoon for Secretaries who also were given a tour of the hotel, including various room configurations.
What has your hotel offered groups that was unique and increased revenues from your Top 20%?
