Own site

It is a prerequisite for a successful hotel business to have a user-friendly website. Attracting new customers through conveniently packaged information, colourful pictures and great deals is an important part of success. The attractiveness of the design and quality of the content must be tailored entirely to the business.

In order to attract the attention of old and new customers alike, care must be taken with the look and feel of the content. The target audience will stop their attention where they are more comfortable to take action and where the structure of the information is clear.

A number of points need to be met for good usability design:

• A logical and well-structured website. The user should be able to find the information they need instantly by navigating through the relevant sections. Navigation should be clear and concise.
• Colour design. Designers advise not to make the homepage too flashy. Brightness can be increased in different tabs to attract attention.
• Adapting the website for mobile devices. Fulfilling this condition will greatly expand the range of potential customers. That is, it is important not only to attract an audience within a specific strategy, but also to have a long-term plan that will cover other options.

Website search engine optimisation

The keywords that users use to find the information they want are an important part of good promotion. The more keywords involved, the more target audiences will reach the page and, consequently, the number of reservations from an official source will increase.

For search engine optimisation, you need to do:

• Competitor analysis;
• a technical audit that fixes problems sorting the site in search engines;
• Usability in the form of maintaining efficiency, memorability, orientation, security and satisfaction;
• Developing semantics to increase the reach of the target audience;
• internal optimisation for comprehensive website promotion.

Adding a Google company

An important action is the registration of the site in search engine services. The hotel’s placement on Yandex.Maps, Google and 2GIS will bring in a lot of revenue, as interested users will actively navigate through these channels to find out more about certain information. It is important to make sure that their request is satisfied as much as possible. To that end, they also think about user-friendly design and maximum clickability of the right tabs.

Hotel promotion methods such as adding a company to Google have the aim of creating a successful company in order to add the necessary information to the search engine’s ranking. It is possible to be added to these services completely free of charge. To do so, you follow a step-by-step authorisation in the system and increase the visibility of the card, which contains key information. This includes the hotel’s opening hours, list of services, contacts and social media links.

The important point is to create high-quality images and photos that will not only interest the potential customer of the service, but will also attract the passing customer who cares about the offer. Completeness of the card is a sure step towards increasing reach, conversions and views.

Google.Adwords

Google.Adwords is a type of contextual advertising that is available to users in search when they enter their queries. Its essence is to present services that people are interested in. Such advertising attracts a sufficient percentage of the target audience to the hotel’s website who are interested in the service offered. This percentage of attracted people is more likely to book a room, contact a manager or sign up for updates through a newsletter or promotions.

Advertisers have to pay the cost of Google.Adwords each time a user clicks on an ad. But there are set-up options that involve paying for contextual advertising per impression or conversion. The advantages of setting up contextual advertising are great: it appears exactly when the user searches for the service they want.

Social media

Targeted advertising on social media has great benefits. It is a mechanism for identifying a target audience and successfully promoting services. Facebook, Telegram and Instagram are good and profitable platforms.

If you take Facebook, advertisements are formed in the form of handy banners that pop up in the feed. These can be photos or videos of different content, which clearly and concisely state the offer. On Instagram, for example, the focus should be on collaborating with bloggers. Regardless of how many subscribers a blogger has, a smart social network feed can send ads to anyone interested without any problems.

The most important thing to know about hotel promotion is that you should not stop at promoting your services in only one niche of the internet space. It is necessary to use as many platforms as possible where potential customers can be found. It is also important to consider ways and methods of promotion: SEO-optimization, SMM strategies, making the right semantic core, promotion in social networks and quality advertising. The wider the reach of the audience, the more numbers will be booked and profits will increase significantly.

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Swimming pool and spa

A large hotel is unthinkable without a swimming pool and spa. An artificial pool is most often located next to the bar area, providing an opportunity for lounging around. Indoor swimming pools with heated water are especially popular and can be used at any time of the year. In some hotels there are several. Swimming pools can be open, indoor, adult or children’s. Hotel guests also relax in spa centres. It is a pastime mainly chosen by women. Hotel spa facilities include a variety of body care, hair care, massages and Jacuzzis.

World-renowned hotels boast mini-waterparks on their grounds.

Playroom

A good hotel must have a games room with board games, video games, billiards and an online casino club without registration https://onlinecasinozonder.com/. It keeps guests entertained when the weather is bad and you can’t go for a walk in the neighbourhood. You can spend the evening inside the hotel, relaxing at the games and socialising with other guests.

Fitness centre

A good hotel is sure to have a fitness room. This is a way for hotels to take care of their health-conscious, active clients. The possibility of fitness in a hotel is very important, it allows you to combine relaxation with activity, to keep your body in good shape. Many people come back from holiday with extra pounds; if the hotel has a gym, that is less likely to happen. Guests can enjoy a variety of workouts and exercises in the fitness centre. Having an instructor available at an additional cost will be a big plus. A gym with fitness equipment will keep you from gaining excess weight during your holiday. The fitness room offers aerobics, gymnastics and other activities.

Restaurant and bar

It is difficult to imagine a good hotel without a restaurant and bar. Food and drink is an important consideration when choosing a place to stay. Many guests prefer to eat at the hotel so that they do not have to spend time searching for canteens and cafés in the area. Some hotels have a separate menu for younger guests. Five-star hotels offer their guests an opportunity to taste dishes from different cuisines of the world: European and Asian. They are prepared by experienced chefs paying special attention to food design. It is convenient to have a meal in the hotel restaurant. People who come to another city or country on a business trip can solve business issues at the same time with dinners and lunches.

Recreational activities

Hotel entertainment is important to most guests. They mean an opportunity to spend an enjoyable time. These can include discotheques, live music and various workshops. Some hotels organise performances by pop stars on holidays and the opportunity to sing karaoke.

Entertainment events also include themed evenings and celebrations to mark national holidays, such as the country’s Independence Day.

Hotels abroad, such as those in Hungary, hold classical music evenings.

Excursions and tours

Almost all hotels organise excursions and tours for an extra fee. People visiting another city or country often want to explore the local attractions, but do not know how to get there. The hotel will offer an interesting excursion programme and organise transfers. This will make your stay as eventful as possible and allow you to see the surroundings and interesting places in the city. By providing such a service, hotels attract more clients.

The list of available activities may also include fishing or skiing, sledging in the winter season.

Children’s club

Many travellers wonder what activities are available for children in a hotel. Many hotels are family-friendly. There are children’s clubs on their premises. Little guests do not get bored, because they are entertained by an experienced animation team. Children watch cartoons and draw. Some hotels provide babysitting services for an extra charge so parents can go about their business while their child is being looked after.

Sporting events

The list of activities at the hotel can also include a variety of sports activities. This option is ideal for those who enjoy an active lifestyle. Hotels organise football, volleyball, basketball and table tennis matches and tournaments. Guests often get to know one another and have a good time at these tournaments. Sporting events train the body and spirit, and victories improve the mood. You don’t have to go somewhere else to play golf or darts; such activities are often available at the hotel.

Cultural activities

A large number of hotels also offer all kinds of cultural events, such as exhibitions, theatrical productions and concerts. You can also enjoy a variety of cultural events, such as exhibitions, theatrical productions and concerts. Some events are included in the accommodation price, while others have to be paid for – it is advisable to check this information in advance before you check in.

The more entertainment a hotel has to offer, the more customers it gets. There is no shortage of guests. The hotel entertainment industry is growing rapidly. The activities available are often told to guests at the time of booking a room and they can also be found in the reviews published on the hotel’s website. This is one of the most important criteria for choosing a hotel.

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What you need is a correct marketing plan to increase your income by executing and accessing multiple channels through which you can reach the travelers. If you want to earn money that you can invest in your hotel business, you can try various methods like taking up a loan, hold a share in the market or earn a passive income from a Bitcoin casino. In this article, you can find a proper guideline of different marketing plans in the hospitality industry which can create almost the best business plans suitable for your own hotel.

Marketing Plans after COVID

After COVID-19 pandemic, this industry that is particularly based on hotel business has been improving still from the previous misfortunes. Hoteliers try to develop their marketing strategies to stand against the competition and for their customers they provide more additional values. We can see that the rates of hotel occupancy are rising high from the previous year though it has a very slow progress. 

Hotel marketing and management strategies should always be effective. It needs to upgrade itself by following the footsteps of current and periodic trends alongwith the market trends in a thoughtful way.

Overview of Hotel Marketing Channels

Firstly, you need to list all online and offline marketing channels that will help you to increase your customers. It takes time to develop each channel. The more you have them, the more you get access to all potential customers. 

The Hotel Website 

It is obvious that the hotel website is one of the marketing sharing channels as it is a primary source that the travelers are going to use for bookings. You can control the content on the hotel website and assist your guest’s journey. But remember your content must include images of high-quality, interactive videos, digital tours of the facilities that your hotel can provide to its clients and testimonials. Make use of the channel to advertise your hotel’s brand value so that on the market guests find your hotel really unique. 

OTAs

Online Travel Agencies play an important part of the process of hotel bookings as like Airbnb, Expedia and Booking.com, they are also very popular platforms. You may not have direct access to a platform like OTA but you can optimize the listing by emphasizing exclusive amenities, reasonable price, alluring offers and high-quality images. As an OTA platform can make the channel’s most of its potential, one thing you need to remember is that you must provide all information and rich content to it. 

GDS

Global Distribution System is the channel that is connected with all travel agents. To check if a hotel’s room is available or not and also to see the room rates, they utilize this system. Worldspan, Travelport and Sabre are the most well-known GDS. This distribution system makes sure that you give all the up-to-date information of your hotel with travel agents and also update the availability of rooms and their rates. 

Phone Bookings

Specially clients of old generations and many times other target audiences like travel agents and event organizers find it easy to book your hotel through phone rather than accessing other online platforms. So, you need to avail this option as well. For clearing out customer’s queries and requirements, this can be treated as a good option. As phone bookings need a human connection, it can’t work so fast while comparing with online bookings. But as a hotelier you need to be mobile friendly, so that you can get a number of customers by using this option as well. And one more thing you need to observe is that mobile bookings are also very trendy in recent years as user queries in Google Announcement’s search engines are higher on people’s mobiles rather than on desktop.

Hotel Digital Marketing 

As the digital media has already expanded its territory all over the world and is evolving in a much wider way, these days the hotel marketing process is done mostly online. If a customer faces difficulty finding your hotel online, then you get a bad impression and the effect can be seen directly on the number of bookings. As 80% of travelers use SEO to find staying places, you always need to stand on top of the SEO game. 

In the content of the website, use such keywords that are trending and for paid ads also set your budget as the page of search engine results is controlled by ads regarding queries that are hotel related. Based on the research where most of the people are booking and the website analytics, you have to target the platforms for your own profit by creating your competitive presence.

Social Media Marketing

Social Media is one of the biggest platforms that can attract customers worldwide. People easily gets attracted to many travel blogs in social media or travel images of their relatives, friends or colleagues that actually influence them psychologically to travel. 40% of social media consumers prefer an instagram-able place to visit under the age group of 30. 

After promising the strategies of social media, travel agencies can easily communicate with their customers and the statistical percentage of this marketing procedure is 71. Facebook plays a great role in hotel marketing strategies as well. More than 50% of facebook users follow pages that are related to their choices of places they want to explore. If you seek to build your hotel business market, then you can invite your contacts in your professional social media networks. 

Marketing of Customer’s Experience 

This is a very crucial strategy one needs to maintain because rather than depending on services or products, this strategy is solely based on customer’s experiences. To make the customer feel special, you can provide some care packages or gifts to them or can upgrade your customer’s selection of rooms with more facilities. These little efforts can earn more positive ratings and reviews that can attract your future customers. 

The post The Complete Guide to Hotel Marketing Strategies in 2022  appeared first on OLD-Minster.

But we’re here to tell you that there are ways. With these eight practical ways to generate more hotel revenue and profit, we’re sure that your business will be booming in no time.

1. Partner With Local Businesses

If you’re looking for ways to increase the revenue and profit of your hotel, partnering with local businesses is a great place to start. You can partner with restaurants, museums, and other attractions in the area and offer package deals to guests. You can also partner with spas, salons, and other local businesses that might want to provide their services at your hotel. 

This will help your hotel stand out as not only a place where people can stay but also where they can get anything they need while visiting your city. This increases profits for your hotel and expands your reach by allowing you to reach a new audience that may not have otherwise considered staying at your hotel.

2. Personalize Your Target Market

To generate more hotel revenue and profit, it’s important to tailor your marketing efforts to your target market. For example, local businesses should be your primary focus if your hotel is located in a particular state. If you have a specific demographic of guests you cater to yearly, they should be at the top of your list.

However, if you’re unsure where to start personalizing your target market, start with basic research into the demographics of the area where your hotel is located. You can also look at how many people visit each month—how many people come from what cities? What is their average income level? These answers will give you an idea of who is likely to stay at your hotel and what kinds of incentives might attract them most effectively.

3. Maximize Online Reach

The most important thing you can do to grow your online reach is to ensure that you have a website up and running. You may be tempted to post on social media, but that’s not enough. You need a blog, or at least some web presence, where you can post all of your content—from photos and videos to news about your hotel and its amenities, as well as information about any special events in the area.

Maximizing your online reach is about more than just having a website; it’s about making sure people know about it. One way you can do this is through search engine optimization (SEO), which involves writing content that will appear higher in search results when people look for hotels like yours in their area.

4. Create a Roadmap

The first thing you need to do when planning your revenue growth strategy is to figure out what you have now and where you want to be in the future. You should start by looking at your current occupancy rate, room rates, and other key metrics (such as social media following). Then, consider leveraging these numbers to increase your hotel’s performance.

After you’ve created this initial roadmap, it’s time to get into the details. Your roadmap will help guide your decisions, so don’t skip this step.

5. Focus on Customer Satisfaction

The most important thing you can do to generate more revenue and profit is to focus on customer satisfaction. The most effective way to do this is to ensure that your customers are happy with their stay. 

You can accomplish this by providing high-quality services and amenities and ensuring that your staff members are friendly and helpful. If your guests feel like they had a good experience at your hotel, they are likely to return in the future.

6. Consider Dynamic Pricing 

Dynamic pricing is a way to give your hotel a competitive edge while ensuring that you’re getting the best rate possible.

A crucial part of dynamic pricing is understanding your market and what your competitors are doing. In a highly competitive market, you may want to offer a lower price than the other hotels to attract more customers. You can also use this technique to attract business travelers seeking bargains.

Another thing to consider is demand. If you have a lot of bookings coming in during certain times of the year, you might want to raise prices during those times so that you can make more money from that period.

Dynamic pricing also allows you to adjust rates based on seasonality and time of day.

7. Take Advantage of Upsell Opportunities

The best way to increase profits is to find ways to sell more things to the same customers. That’s why it’s important to offer upsells—the practice of trying to get your customers to spend more money on their orders by adding on products, services, or upgrades.

For example, if you’re running a hotel restaurant and someone orders a meal, you could try offering them beverage refills or dessert as an upsell. If you’re running a boutique hotel, you could provide guests with an upgrade from the standard room rate to include breakfast for two or access to an executive lounge. Or if you’re running a local attraction like an amusement park, you could offer discounted admission for children under 12 years old if they bring their parents along with them.

8. Offer Promotions During Slow Periods

Holidays, holidays everywhere! But you may be surprised to discover that the summer months aren’t the only time people want to travel—and they’re not always looking for a beach vacation. They might book their next trip with you if you offer them a deal.

Use this time to ensure your hotel is well-stocked with supplies and amenities so that guests don’t feel like they’re saving money at the expense of their comfort.

Conclusion

The most important thing to remember when generating more hotel revenue and profit is that it’s not just about the number of guests you have but how you treat them. Your business can’t survive on empty beds alone—it needs to be built on a foundation of happy customers who will return. With these ten tips, you’ll be well on your way to doing just that!

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When deciding where to open your hotel, there are several important factors to consider. By taking these into account, you can ensure that your property is successful and profitable for years to come. Choosing where to open your hotel can be tricky, but these nine features will help you make the right decision:

Proximity to Attractions

The location of your new property can be one of the most important factors in determining its success. You want to ensure that it is close enough to attractions and other businesses that guests will find it convenient, but not so close as to cause inconvenience. If they have to walk too far to get there, they may decide not to stay.

The location of your hotel is an important consideration when choosing where to open your hotel. You want guests to explore the city and all its attractions easily. You also want them to find food, entertainment, and shopping nearby.

Accessibility From Public Transportation

If possible, try to get a hotel accessible from public transportation. It will make it easier for people who don’t have cars or prefer not to use them. If you can’t get one near a train station or bus stop, try at least getting one near local taxi stands. It will allow easy access for those without cars or who don’t want to pay expensive cab fares.

Availability of Parking Spaces for Guests’ Vehicles

It goes without saying that parking is a big concern for many hotels. It’s important for guests with cars, but it’s also important for those who don’t want to deal with finding parking on their own after a long day at work or sightseeing in the city. Ensure that there is ample parking available on-site or nearby for those who choose not to park on-site.

If your hotel doesn’t have adequate parking spaces for guests’ vehicles, this could lead to problems. It is especially true if guests need somewhere secure and safe where they can leave their cars while they’re away exploring the city during their stay.

Size and Capacity

When deciding how many rooms your hotel will have, consider the number of guests you anticipate having at any given time. The larger the number of people you expect in the near future, the more rooms you’ll need available at all times.

Staffing Needs

Staffing is another important consideration when opening a new business because it affects every aspect of your operations and how much profit you make from each guest or client who visits or purchases from you. 

For example, suppose you want your staff to be available 24/7 because there will be no time off except during vacations or holidays. In that case, this will affect how many employees are needed and what tasks they must perform daily.

Traffic

You want to be close enough to a major highway or interstate to quickly get customers in and out, but not so close that you’re in a noisy, dirty area. In addition, it’s important that you’re near enough to other attractions so that guests can easily visit them while they’re in town.

Dining Options

Your dining options should include fast food chains, sit-down restaurants, convenience stores, and grocery stores. If there aren’t any good dining options nearby, your guests will be forced to drive elsewhere for meals. 

Therefore, they won’t spend as much time at your hotel as they normally would. You don’t want this because eating out is generally more expensive than eating at home or buying groceries at a local store and eating in their rooms or suites.

Shopping Options

Your guests are going to want access to shopping options while they are staying at your hotel. They may be traveling on business or vacation and don’t necessarily have time to explore every new city they visit. The last thing they want is to get bored while staying with you!

If there aren’t any shopping options nearby, your guests will have no choice but to drive elsewhere. It could be for souvenirs, gifts, and other items they may need during their stay with you. 

Property Taxes

Property taxes can quickly make a big difference in your bottom line. So, it’s important to find out what kind of taxes you’ll be paying on any property you consider buying or leasing for your hotel. It helps if you already live in an area where you plan to open a hotel. You can get tax information from the local government office instead of having extensive research from afar.

Get the Perfect Spot for Your Hotel

Finding the right location for your hotel is essential to success. It may feel like a daunting task, but finding the perfect spot will be a breeze if you know what to look for.

The first step is to ensure that you clearly understand what kind of hotel you want to open. It’s important to have a clear vision of what your hotel will look like and what kind of experience you want guests to have. It can help narrow your search and make it easier for you to find the perfect spot.

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If you dream of starting your own hotel business, you’re in good company. As the hospitality industry grows and evolves, it’s a great time to get involved. Here are seven tips on starting a hotel business:

Do Your Homework

If you’re looking to start a hotel business, you’ll need to do some research first. The success of your business depends on knowing what to expect and how much it will cost to get started.

You should first research the industry and talk to people already in it. It will help you know about this industry before starting your own business. If you don’t know what you’re doing, you won’t succeed. Know the costs of running a hotel and ensure you have enough capital for all expenses, including marketing and advertising costs.

You may also want advice from an accountant or financial advisor before starting your own hotel business to avoid making costly mistakes. If you’re just starting, consider working for someone else in the industry first to learn about the ins and outs of running a hotel before taking the plunge yourself.

Choose Your Location Carefully

A good location is essential for any successful hotel business — but it’s not easy to find one that’s both profitable and affordable. When choosing a location for your hotel, look for areas with high traffic volume. Still, low competition from other hotels or restaurants will help ensure that your guests always have somewhere to stay nearby when they visit your city or town!

You want it to be close enough to a major city or town to have access to its many amenities but far enough away so that you don’t have much competition from other hotels. You also want it to be located in an area where people frequently come – for example, by the beach or near a popular tourist attraction.

Decide What Kind of Hotel You Want

Once you’ve chosen where your hotel will be located and how many rooms it will have, it’s time to decide what hotel it will be. Decide if it will cater exclusively to families or couples only, or if it will also accommodate groups. It could be sports teams traveling for games or conventions taking place nearby who need affordable lodging.

You must first determine who will be your customer base. If it’s families, will they come from out of town or just pass through? Are they looking for luxury or budget-friendly accommodations? Do they want amenities such as a pool or gym? Once you’ve determined your kind of hotel, it will be easier for you to figure out how much to charge for each room type and what amenities to include in each one.

For instance, if it’s a group of youths who are into gaming, ensure their rooms have the necessary amenities to join betting sites. You can even suggest sports betting not on Gamstop for an amazing gaming experience.

Think About Branding Early On

If you want to build a strong brand for your company once it’s up and running, consider branding early in its development stages. That way, everything from logos to website design aligns seamlessly (and doesn’t confuse customers).

Know Your Market

Before you start a hotel business, you need to know your market. It is important to understand where the demand for your services will come from and how much it will cost to meet that demand.

You can find out what your potential customers want in many ways. You can read magazines, newspapers, and trade journals, talk to other business owners, or talk with people in the industry who might be willing to share their knowledge.

Your market is everything — it’s your customers, your competitors, and the industry in which you operate. It’s important to know who your customers are and what they want so that you can determine where your business fits into this picture.

Find Reliable Suppliers

Once you know what types of guests are likely to visit your hotel and where they will come from, you need to find reliable suppliers. Look for those who can provide everything they will expect from their stay at your hotel — from bed linens and towels to food options and entertainment choices. 

These suppliers should provide items at reasonable prices and offer fast delivery times so that when your guests arrive at the hotel, everything is ready for them.

If you plan on purchasing stock at wholesale prices, ensure you have a source for quality merchandise at competitive prices. If possible, find one supplier who offers everything from linens to kitchen supplies so that you aren’t forced to shop around for each item separately when time is limited. 

It can save you time and money in the long run since it means less legwork when ordering new items or changing existing inventory.

Hire Skilled Staffers

A hotelier needs people who can handle all aspects of running a business and manage employees effectively. No matter how great your business plan is, if you don’t have the right people to implement it, then it will fail. 

You need to hire skilled staffers that can handle everything from front desk duties to housekeeping and maintenance. A good example is hiring a concierge who can help make reservations for guests and provide them with information about local attractions and restaurants.

Start Your Hotel With Knowledge! 

Starting a hotel business is not easy, but it’s doable. You need to be prepared and willing to work hard. Whether you’re a seasoned hotelier or new to the industry, you should consider the above tips before launching your own business.

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Still, whatever it’s, there’s no doubt that the hostel industry is nearing its peak, and you’re perfectly in the right for wanting to fund a hostel business now. But, despite the lucrativeness of the industry, lots of work is required to successfully start a hostel, especially concerning funding. The business is capital intensive, and one major way you can source funds is through loans.

However, getting a loan for your hostel requires more thought than you probably imagined. There are many important steps to consider, and you must ensure you follow them to avoid future regrets. There are many online lending companies and loan facilities, and it’s not uncommon for one to get confused while searching for the perfect one. That’s why many business owners visit loan comparison sites like laina-finance.fi to compare different loan deals and lending institutions to make the best decision for their firms.

There are things you must consider before taking out a loan for your hostel business, and this article will focus on four of them.

Have a Budget, Know How Much You Need

It’s impossible to run a successful business without adequate planning and budgeting. You’ll have to understand what you need and how much they might cost. Before walking into any lending company or visiting any online, you must know the exact amount you want. So when you’re asked that question, your answer shouldn’t be how much they’ll be willing to give you; it should be how much you really need.

If you plan to buy an already existing building for renovations, do your research and find out the costs. The same applies to furniture, maintenance, and other important hostel expenses. Every detail should be planned out as this will make you look trustworthy and increase your chances of getting the credit facility.

For instance, lending companies like Sortter usually have a visible loan amount range, as seen here https://laina-finance.fi/sortter-laina. So, after you must have planned your budget, you can check there to see if what you are looking for is within their lending range.

Decide the Type of Loan that Fits Your Plan

After figuring out the exact amount you need, you’ll need to determine the type of loan that fits that amount and your business. This also comes down to adequate planning.

At times like this, you’ll have to answer questions like, when do I expect to start making profits? How long will it take to complete the loan repayment? The answer to these questions will determine if you’re going for a short or long-term facility.

Once you have the answers to these and the many more questions in your business plan, start searching for lenders that offer credit advances similar to what you need. Generally, most lenders list out their terms publicly. For example, you can view Ferratum loan terms here https://laina-finance.fi/ferratum-laina to see if they are a good fit.

Arrange the Required Documents 

After singling out the credit institution that fits your plans, check to see the documents they require for applications and start preparing them.

Some lenders might be very stringent. They might require you to provide proof of identity and your credit statement.

Also, depending on the length of the facility, you might have to provide financial projections for the hostel. Some other documents include lease statements, hostel licenses, cash flow statements, income statements, business sheets, and hostel tax returns.

Some institutions might even require you to bring collateral. This will make the process easier but ensure you assess the value of your collateral before making any decision. Don’t ever risk what you’re not willing to lose.

Find the Best Loan and Apply

No matter how urgent you need a loan, always take time to search for the ones with the best terms. There are lots of loan comparison sites you can use to compare and make informed decisions.

Some of the things to look out for before you take a credit advance for your hostel business includes:

• Annual percentage rate (APR)
• Penalties and fees
• The loan amount and term
• The speed and ease of disbursing the loan.

Once you’ve confirmed all these, get the documents required, and apply. Remember to crosscheck before any submission because mistakes can delay or deny your application.

The Bottom Line

At a compound annual growth rate (CAGR) of 16.8%, the hostel industry is expected to hit a market valuation of $840 billion by 2026. Solo travel is on the rise, and hostels are in great demand. Sourcing a loan to fund your hostel is a reasonable business decision, but that will solely depend on your approach to taking the advance.

We’ve looked at four important steps you should consider before going ahead with your plan. They include knowing the amount you want, deciding the best terms, preparing the required documents, and applying.

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The decision to start Airbnb was a sudden one. And like Brian and Joe, you may be one of those business enthusiasts who make sudden decisions to start hostel businesses. Your reason could be for the extra bucks, because you want to invest in a section of real estate, or because you want another property to your name. Regardless of the reason, you can be sure money is coming your way.

However, like any successful business, it takes hard work, dedication, moving on from costly mistakes, huge capital, and attention to detail to get your hostel on its feet. Many entrepreneurs make mistakes by not giving core considerations to some important tips. In this article these are some of the most important things to know before getting started. 

Your Brand Outlook Says Everything About You

The brand outlook you are selling determines the experience people will have in your hostel. You should decide if you are going for the warm and cozy or if you want the outdoor bonding atmosphere. This decision is what determines your decor, brand’s identity, bed types, and even the sofas.

Tune your decor to make guests feel at home. Walking into a hostel that feels warm and friendly is every traveler’s dream. Draft out a plan that complements your brand outlook. You might think it weird to think about decor before starting your business. It’s not. 

The soul of hostel renting is the decor, which can range from furniture to outdoor swimming pools. Discard the stiff furniture for ones that give a homely feel. For instance, choose a colorful but moderate furniture set. It will also be nice to use complementing colors in the common room instead of stark white. You can also hire an interior decorator to help with the process.

Great Locations Equal Increased Revenues

Most travelers and guests prioritize a good location. A good spot in town should have certain specifics, such as easy routes to the main roads and proximity to the hotspots — restaurants, clubs, hairdressers, malls, and many more within the town. You must find a good location that will appeal to prospective customers. 

Due to the growing competition in this industry, it might be challenging to find a good spot. In this case, you can hire professional agents to secure a great location for your building. While searching, ensure there’s no serious competition in the area, as this could lead to bad business.

Your Financial Plan Is Important

Like every other institution, you must have a sound financial plan for your business. These plans help you create a headway on the necessary steps to take, figure out your needed capital, and decide if you’ll be needing investors or taking out a loan.

You can secure financing means through sponsorships and investments by tendering your plan to potential investors. It also ensures you follow the drawn-out plan without splurging on unnecessary purchases while keeping track of your expected profit and loss.

Permits Are a Pain

Some locations are legally restricted from having a hostel. Check your chosen location’s zoning law to know if you can build your business there. If it is allowed, check the local law to see if there might be clauses that won’t bode well for your business. If it is not, search for areas that allow hostels and get your permits to start building or acquiring.

Permits aren’t as easy as they sound. It takes a long time to get approval from city halls, and when you do, their regular checks are frustrating — they might also ignore your emails if you try to reach out. 

Although they might be hard to attain, applying for every necessary permit and license needed to run your business is important. Get all the permits needed, which might come with a fee, to build a completely legal hostel.

How You Market Your Hostel Determines Who Visits

Market your brand to the right audiences. These include solo travelers, young students taking a gap year, and backpackers. You need to create a good online presence to find these people, and the best way to do that is to draw up a strong marketing plan.

However, while drawing one up, be mindful of your finances and avoid over-expensive marketing strategies — you don’t need them to attract your audiences anyway; what they are looking for is originality and a breath of fresh air.

Final Notes

Building a hostel is a lucrative and interesting business. Besides the cool cash that comes with it, you also get to meet different personalities from different parts of the world.

Remember, the goal is to create an environment that makes people want to drop their bags, grab a can of beer, and mingle. We wish you success with the plan!

The post 5 Things You Must Know Before Starting a Hostel Business appeared first on OLD-Minster.

As a housekeeper, it would be most beneficial for you. Imagine, you just need to wave the wand and everything turns sparkling clean. Be it the lobby, rooms, laundry, or restaurant. 

 In fact, you don’t need any staff to do it. And because of that, the level of guest satisfaction would top the charts. 

However, the sad part is that such kind of magic is impossible. But, I can tell you tips to improve hotel housekeeping operations for better guest experience. 

By now, you might have figured out what this blog is about. But, before getting to the tips, let me give you an overview of the housekeeping department. 

What are Housekeeping Operations in Hotels?

Housekeeping department is called the backbone of the hotel. The reason behind it is that housekeeping handles one of the most important tasks of a hotel – maintaining cleanliness and hygiene.

However, the tasks involved under housekeeping operations are not limited to it. There are other responsibilities too, like:

1. Raising inventory requisitions
2. Maintaining stocks
3. Managing laundry services
4. Handling the lost and found artifacts
5. Keeping a track of hotel room thefts and losses

Although the housekeeping department is not counted amongst revenue-generating ones, you cannot deny the fact that it does play a vital role in cost-control.

How to Optimise Hotel Housekeeping Operations?

Now that we are done with a refresher course on hotel housekeeping operations, let me tell you the steps you can use to make it more efficient. Let’s take a look at them.

1. Streamline your process

When I say streamline your process, it doesn’t mean working on your SOPs. Of course, it is also important and we’ll be discussing it in the next point.

Streamlining your process means aligning hotel housekeeping operations with tasks of other departments. Let me explain in detail. 

The housekeeping department is responsible for upkeep of the room and the amenities associated with it in a perfect manner. Now, this also includes checking for any maintenance issues. 

Suppose, one of the rooms requires major maintenance work. In that case, the housekeeping supervisor needs to inform the front office and maintenance department, respectively.

Such tasks do take a lot of time, which means one room is out of order for a brief period. Hence, the revenue management team would ensure that sales from other rooms are on the higher side to cover the loss of one room night for that period. 

This is just one example. There are many other tasks that require help from other departments. That’s why you need to streamline your hotel’s housekeeping operations to avoid any complex situations.

2. Bring timely changes in SOPs

As I said above, you need to optimise your SOPs from time to time. The reason is, it will help you improve your housekeeping operations and increase staff’s efficiency. 

In college, we were taught that getting a room ready should take an average of 20 minutes. The bifurcation is as follows:

• 7 minutes – Bed making
• 5 minutes – Bathroom cleaning
• 3 minutes – Dusting
• 2 minutes – Amenities replenishing
• 3 minutes – Sweeping and mopping

But when I started working in hotels, things were actually different. Every task associated with room cleaning had a different time depending on the size of the room, the number of staff involved in it. 

For example, some hotels use vacuum cleaners or mop sticks, instead of traditional brooms and mopping cloth. This aided in reducing the time required to clean one room. 

Similarly, you need to figure out ways to optimise SOPs related to every process involved in the housekeeping operations. 

3. Standardise the quality of cleanliness and hygiene

No one likes to stay in a shabby and dingy hotel. Moreover, after covid-19, guests are more concerned about the cleanliness and hygienic environment provided by the hotel. 

That’s where the housekeeping department comes into the picture. Ensure that you’ve set the highest standards pertaining to cleanliness and hygiene. Here are some steps you can take:

1. Room sanitisation after check out
2. Change room linen for new guests
3. Use a disinfectant for mopping the floor (opt for one with mid fragrance)
4. Keep a sanitiser in each room
5. Wear masks and protective gear while cleaning the room
6. Opt for color-coded cleaning

4. Focus on inventory management

Inventory management is an important part of hotel housekeeping operations. That’s because the housekeeping department is responsible for raising the requisition and distributing all sorts of amenities among guests and staff members. 

This includes room amenities, stationeries for the front office department (pen, files, papers, key cards etc.), staff uniforms, and other such things. Whilst the list is long, you need to ensure you don’t miss even a single item. 

Here’s a blog on inventory management that can help you do it in a better way. 

5. Invest in technology

Technology plays an important role in every hotel and still many of them hesitate to embrace it. Some find it expensive, while there are others who believe it’s futile to invest in technological aspects. But that’s where they go wrong. 

There are various PMS that can do all your calculations, inventory management, and room status update within seconds. Moreover, if they can be integrated with other housekeeping software, it can get you live room status and help with direct bill posting in guests’ folios. 

Apart from that, it can help you keep a track of guest requisitions and whether they are addressed or not. This would aid in improving guest experience. 

The technological aspect is not limited to software, it includes investing in gadgets as well. You can opt for equipment like handy vacuum cleaners, carpet cleaner machines, floor scrubber and dryer, automatic room freshener, and so on. 

6. Hire, train, and reward your staff

Understaffing is one of the common problems faced by the hospitality industry these days. This leads to a tremendous pressure on the existing ones, as they need to handle tasks of other employees simultaneously. And trust me, I’ve seen this happening. 

The hotel where I used to work a couple of years ago was having a shortage of housekeeping staff. This created a lot of problems for the rest of us. 

We had to run from floor to floor in the morning to check rooms which are due for check out. Simultaneously, we had to prepare rooms for upcoming arrivals. And to top that, we were supposed to deliver guests with requested amenities. 

Because of this, none of the staff members in the housekeeping department worked for more than 2-3 months. In fact, we ourselves used to be quite exhausted by the end of the day. 

7. Keep a check on your discards

Most hotels avoid the discarding process, and that’s where they suffer a loss. Basically, discarding involves removing expired items from the inventory and replenishing them with new ones. 

Let’s say, you have kept a stock of old towels to discard. Now, you would either distribute them among your staff, use those for cleaning, or recycle them.

Sometimes, a staff member or a vendor can do foul play here. S/he would be replacing the old ones with new or maybe add some fresh ones in that batch for gaining extra benefits. 

That’s why I recommend doing the discarding process in the presence of CCTV cameras, security personnel, and housekeeping supervisor. 

8. Maintain pantry on each floor

To ensure seamless guest experience and fast service, it’s important that you have a housekeeping pantry on each floor. In case you already have one, check that it has ample stock maintained of each and every amenities. 

First of all, it’ll help your housekeeping staff in avoiding running to and fro. And secondly, it’ll help in raising on time requisitions. 

9. Work with right vendors

Selecting the right vendors for outsourcing any kind of facility is crucial. Moreover, if you are working with just one vendor, I would suggest you find a couple of them as a backup. 

Reason being, depending on a single one would create a lot of problems, such as delay in delivery, unavailability of certain items, impromptu price fluctuations, and so on. Moreover, you need to check the authenticity of the vendors, quality of products they provide, and other factors. 

The post 9 Best Practices to Optimise Hotel Housekeeping Operations appeared first on OLD-Minster.

There are a few steps that are required when writing a business plan and we will go through all the steps in detail in this article so keep reading.

How To Start A Student Hostel Business

There are several things to take note of and into consideration when starting a student hostel business. Factors like location should be given extra consideration because it affects your budget, strategy, customers, and much more.

There are so many ways to start a student hostel business but we have narrowed it down to 4 important steps to guide you.

Find a Location

When you are starting a student hostel business you need to ensure that you pick a location and ensure that the location you pick is close to a university or a student populated area.

Conduct market research and identify your unique value proposition

Market research helps you recognize opportunities in your chosen area which enables you to find a gap in the market. This is where you step in with your unique value proposition. It enables you to identify what you can offer because you’ll be able to see clearly what is available and what is missing.

Define your resources

Identifying your resources like human resources and equipment will help you understand your operating costs and make a financial plan for your student hostel.

Create a business and marketing plan

A business plan contains a cost analysis and projected costs while a marketing plan will help identify your target market and what marketing strategy best suits them.

What Is A Business Plan?

Every new business or startup in search of funds is most likely to turn to a bank for a loan or to an investor and typically they will ask to look through your business plan to help them understand your plan and decide for/against investing or lending you money.

A business plan at its core is a formal document that includes the framework, strategies, and goals of a business. It explains and details how your business will work/works and why it will be profitable and successful to potential investors and funders.

This is achieved by analyzing your industry, competitors, and customers and also making detailed marketing and operations plan and most importantly a financial plan.

A business plan can be written in 2 forms:

• A business plan to obtain funding
• A business plan for personal planning

Why Create A Business Plan For Your Hostel?

As an entrepreneur writing a business plan is the first step to take when looking to start a new business or company.

This is because it allows you to determine the profitability of your business and is also pivotal in presenting your business to prospective funders and investors to get them interested in your business and hopefully provide the funding you need.

A business plan is not just important for your potential investors and funders, it is also important to you. It enables you to determine your business strategy for running a successful hostel.

A good business plan helps you identify the potential risks involved in operating your hostel and it also serves as a progress tracker.

What Information Is Needed To Write A Business Plan For A Hostel

There’s certain critical information you need before writing a hostel business plan firstly you need to conduct market research which includes analyzing the hostel market to confirm if there’s room in the local market for your hostel in your desired area.

A market analysis helps you understand the current demand for hostel accommodation and also gives you insight into the hostels that have already made their name on the market. After your market research, you need to determine the equipment and staff needed to operate your hostel.

You’ll need to draft a list of the staff needed to operate the hostel on the daily basis and also research and offer a reasonably competitive salary to give you an advantage in the hiring market

After all this research is done you are ready to write your business plan.

Executive Summary

An executive summary is a compelling and concise summary of your business plan. Its aim is to present your business by telling your story that is who you are, what product you are selling/service you are providing, your base of operation, and more importantly, how the investor can help you bring it to life.

This is the most important component of your business plan because although a few people read the entire business plan, the executive summary is read by everyone.

Industry Analysis

An industry analysis gives you a brief overview of the hostel industry. It reviews trends and growth patterns that have existed within the industry and the anticipated growth forecast for the industry.

An industry analysis gives you more insight into your competitors and supply and demand within your industry, It also helps you determine your business’s potential for growth.

Market Analysis

A market analysis is an assessment of the local market within the hostel industry. It allows you to determine how suitable the market is for your business.

It is made up of a competition analysis (analyzing the strengths and weaknesses of your competition) and your competitive advantage (your unique selling proposition).

Target Market

A target market essentially refers to a select group of people with similar characteristics that you have identified as potential customers for your hostel business. Your target market is a subsection of the total market for the hostel industry.

Sales & Marketing Plan

Your sales plan should detail the strategies your hostel business will use to sell its services and increase its revenue, this includes the prices you’ll set.

The sales plan often forms part of the marketing strategy. Your marketing plan will help you to identify your business’s target market and create strategies for attracting those customers and building customer loyalty.

Advertising & Promotion

The advertising and promotion plan is aimed at informing potential customers about your hostel business and disseminating information about your hostel business. This details how you will increase your hostel business’ visibility.

Pricing

By definition pricing is the process of setting the price at which a business will sell its services and goods, it may sometimes be part of the business’s marketing plan. This is basically how you will set the prices for your services and rooms.

Operations Plan & Human Resources

The operations plan and human resources section are where you provide an insight into how you are going to run your hostel on the daily basis and if you will be hiring any staff to aid in the running of your hostel and what roles they will have.

Some of these daily operations include tax management, insurance, reservations, payment processing, maintenance, and other administrative tasks.

Organizational Structure

Your organizational structure will outline how certain activities like task allocation, coordination, and supervision are carried out in order to achieve your hostel business goals. It provides the base on which regular operating procedures and routines in your hostel rest.

Financial Plan

The financial plan is the main part of your business plan. It is an overview of your current business financials and projections for its growth. In this section, you will illustrate your calculations and assumptions.

It is advisable to work with an accountant when creating your financial plan for your hostel business.

These are some basic information that must be included in your financial plan

The projected profit and loss statement

This table helps you to evaluate the expected growth and profitability of your hostel for the first three years of operating it.

The projected balance sheet

The balance sheet is made up of two components; the assets which include cash, stock, equipment, and everything that your hostel owns, and the liabilities, which are how much your hostel owes at the end of the fiscal year.

The projected cash flow statement

This table enables you to determine how much cash the hostel spends and how much revenue it generates in a fiscal year. This statement enables you to determine if the hostel has enough money to meet up with its financial commitments (like loan repayment).

Start-up capital

This is also known as the sources and uses table. It provides an extensive view of the start-up capital needed to set up your hostel and how it will be funded.

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