Many meeting planners that are looking to book a meeting or event immediately think of full-service hotels. And why not? Full-service hotels come with all the amenities you would expect and usually have the event space to pull off the most ambitious of plans. But, the funny thing is, the trend currently is for companies to have meetings that are smaller and that only need guestroom blocks for a few days. Tripleseat’s restaurant customers are seeing unprecedented growth in small meeting and events and the revenue from these meetings represents over 30% of the overall revenue.
If restaurants are booming why are smaller, limited-service hotels seeing little or no growth in the event market? The simple answer is that limited-service hotel owners and operators have conceded to the idea that no one wants to book a meeting or event at their property. The hotel owners have not taken the necessary steps to be competitive in the small event market and do not market themselves to be an alternative to their larger brothers.
A surprising amount of limited service hotels operate their meeting and event business on paper and pen. There is no salesperson or dedicated event manager with limited hotels preferring to rely on either the General Manager or a Front Desk Manager to book and run the meetings that are booked. The hotels today are like the restaurants 10 years ago before Tripleseat.
The reasoning for hotels being manual are familiar, the software is too expensive, we do not do a lot of business, there is no staff and it is too complicated. Once restaurants owners and operators realized that they were losing money and could actually grow their business with sales and event management software they saw their event business revenue grow by over 50%!
Having a sales and event management application with full CRM capabilities, the ability to book both guestrooms and event space, capture and respond to inbound leads quickly and create banquet event orders and contracts easily is the key to growing and marketing the limited-service hotel event business.