How to make the most of your hotel investment

November 28, 2017   London UK/Spokane WA

So, you’ve got some cash to invest in your hotel and really want to make sure you get the biggest return possible – but where do you start? If you’re operating with limited funds to invest but have big plans it can be tricky to know which updates will have the biggest impact on your reservations and there are so many different aspects that will influence it.

The first thing to do, is work out your investment budget. It’ll help you understand the limits and possibilities of what can be achieved, as well as ensuring you have a top figure in mind when you approach suppliers and contractors. The second key area that should influence your hotel investment plans is your typical customer. What a hotel geared towards business people would benefit from investing in and one that’s aimed at young people road tripping will be vastly different. Understanding what your customers or the market segment you want to attract want is crucial.

Fortunately, there are some areas that you can invest in that will appeal to a broad range of groups. Choosing to improve your value proposition with these investments could lead to improved customer satisfaction and more reservations being made.

WiFi – There’s no denying that WiFi has become a huge necessity for many people. If connectivity throughout your hotel isn’t great, it’s well worth spending the time to come up with a better approach. It’ll appeal to pretty much anyone travelling, from families with young children through to business travellers.

Bedding – If your bedding is a little worn and the linen isn’t looking as fresh as it used to, it’s definitely time to invest. After all, guests book your hotel to spend the night and they want to be as comfortable as possible. Breathable fabrics, plump pillows, and warming colors are the way forward.

Towels – Guests’s focus on their breakfast and the quality of towels after leaving a hotel. These after all, are the last 2 things they experience before checking out. Go ahead and buy thick, heavier fluffy towels. They will go a long way towards happy guests.

Look outside – It’s easy to think that it’s just your rooms that matter but that’s not the case. Your outside is what customers see first. Cleaning up and renovating your building is a great way to give it a fresh look. If you have a tidy, attractive outdoor space for guests to relax you’ll attract more clients too. Make sure you have flowers and green grass. If you have attractive landscaping, guests will know that you take care of your rooms too. Install bright lighting across the exteriors. Not only do you need great night time visibility, it’s also safer for your guests.

Check in with your guests – This might be an ongoing invest but once it’s an established practice it’ll become a streamlined process. Don’t wait for your guests to tell you if there’s a problem, instead, check in with them during the stay and see where you can help. It’s also the perfect opportunity to get to know your market better. It’ll cost you in terms of man power but it’s a worthwhile investment.

Something special – If customer satisfaction is important to you – and it should be! – adding something special to each room can really help. From a glass of wine as they arrive to some light snacks, it can really make you stand out when hoteliers are continually competing. It’s likely to be something that they mention as they chat to family and friends or leave a review too.

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About Magnuson Worldwide:
Since its launch fourteen years ago, Magnuson Worldwide has become America’s fastest growing hotel brand and a top 15 global chain, marketing over 1,000 hotels across six countries and three continents. Magnuson Worldwide’s newly formed distribution partnership with Chinese operator Jin Jiang Hotels and Europe’s Louvre Hotels is the world’s largest hotel alliance, forming a consortium of over 8,000 hotels and 800,000 rooms worldwide, equal to the size of a top 2 global hotel chain.

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