Spring and summer have always been the times of year that hosted weddings, bachelor and bachelorette parties, proms, graduations, conventions, concerts, major sports events, festivals, parades, and parties. As we all know, that’s not the case for 2020.
The Coronavirus has completely shut down the hospitality industry this year, leaving an entire population of businesses with cancellations, parked vehicles, laid off workers, empty venues, and little to no sources of income.
Many owners of companies that support hotels and the hospitality industry feel that, amid the discussions on challenges faced by the tourism industry, their businesses have been forgotten.
Businesses that support hotels are usually built on tourism, events, and foot traffic. They rely on seasonal income to propel them through the slow periods. And now is typically the season. With neither tourism or major events happening in any significant form this year, many business owners who support hotel operations are looking at options for their next move.
In Part 1 of our series, we explored how Coronavirus has affected the hotel industry and its subsidiaries in the field. This gave us an insight as to how this trickle-down effect on supporting industries and independent contractors really works. We also looked at what this means for the industries that support hotels, how they’ve been affected, and what outcomes possibly look like for the future.
In the 2nd part of our series, we’ll explore several strategic ideas that could be good to consider if you’re a business supporting the hotel industry during this pandemic. The goal is to give you some creative input and helpful suggestions as you consider future plans for your business.
We know that a large number of customers cancelled their Spring and Summer trips due to COVID-19. But we also know that people have not lost their desire to travel. Once restrictions are lifted and it’s safe to travel freely once again, folks will be looking for ways to get out and explore. According to many economic experts, most of the initial bookings will likely be for domestic travel because people may be hesitant to fly on airplanes.
This could be a great opportunity for hotels to score bookings by engaging guests that have cancelled, reaching out to new customers in local and regional areas, and ramping up their digital presence. After COVID-19 subsides, people will likely be considering new destinations to explore that are closer to home, which could be a great opportunity for hotels to attract new audiences.
So, as a business supporting hotels during this time, what can you do to help keep your business afloat?
One of the most reliable ways to keep your current customers loyal to your company is staying connected and updating them on your business operations. Consider communicating with your hotel owners and operators about everything you’re doing to improve sanitation, promote workplace safety, disinfect equipment and items that are considered touchpoints, and flatten the curve of spreading the virus.
Think about using all of the digital tools you have available to promote your business and show how you’re proactively planning for the rebound in travel demand. Some great tools that are easy to use? Email, social media, digital ads, and text messaging are all great means of communication that are easy and affordable. If you operate a brick and mortar location, you may want to use in-store signage to communicate clearly with customers about what you are doing in response to COVID-19 and how you are taking all precautions to create a safe environment for your patrons.
If you are preparing for travel demand to rebound, think about creating “new client” deals that allow you to reach out to prospective customers and give you a great chance at signing them on. As Coronavirus continues to change the face of how business is done, companies (especially hotels) are looking at new ways to operate, new vendors to use, and new relationships to forge moving forward.
This could be the perfect opportunity for your company to pick up clients who will use your services as soon as the travel rebound occurs. Try to get creative with new ways to approach potential clients. Could your winning strategy be open and transparent communication around world-class safety? Have you created a no-touch service delivery system that gives you an advantage over your competitors? Now is a great time to get creative with ways to present your business as a leader in safety and ease-of-use.
Think about promoting special offers and packages that could be attractive to hotel owners and operators who are likely looking to change up their vendors and how vendor services are delivered. If you are a limousine service, maybe you provide wedding discounts, or you create packages that give perks to certain types of businesses that will likely be using services like yours while they are in town.
If you’re a linen cleaning service, you might consider offering “bundle deals” to hotels with more than one location. You might think about a discount program for hotels that use your service for a certain period of time.
With all of this said, you may be looking at other alternatives for your business. There is no doubt that months of closures for an operation proposes challenges that can be too hard to overcome. That is a reality many companies are now facing. If you are thinking about an exit strategy, looking at the possibility of liquidating some of your inventory for cash flow, or you’re thinking about merging with another company to weather the rest of this storm, then Auction Masters is here to help.
Our team of experts and professionals are here to work with you and give you the best selling experience possible. Our goal is to get you the most value for your business equipment. At Auction Masters, we have an extensive network of buyers, looking for the type of equipment you offer. Our team uses the latest marketing strategies to reach qualified buyers who will be most interested in purchasing your equipment. You’ll get the best prices for your equipment and you’ll never have to worry about negotiating prices. Give Auction Masters a call at the number below and we’ll help you explore all of the options available for you.