How to Make Room Bookings Surge with Events

Events alone are a great—and significant—revenue driver for property operators in the hospitality industry. But the earnings don’t stop when the contract is signed; revenue from each attendee can add up to meaningful profits.

How events drive increased revenue—beyond event spend

Food and beverage create high margins for properties, and most often, event guests tend to stay, eat, and drink in the locations where they are celebrating. Visiting a new hotel (or even one they’ve already been to) is a source of entertainment —an experience—with lounge areas, rooftop bars, pools, gyms, spas, and more. These experiences captivate guests, driving loyalty and familiarity with a hotel operator or group that can provide long-tail revenue for years to come. (For more information on this topic, check out our article on growing property revenue with the right events).

Strategies to increase room bookings with events

Your property's amenities can be a huge driver of interest to keep customers on-site during an event—and returning long after.

Let’s say you need to book a hotel room block for a corporate conference or holiday party. The discounted rates that typically come with a room block offer essential “sure thing” bookings that pay back multiple times with the money those guests spend while they’re on-site. The name of the game is to keep customers on the property, happy, hungry, and excited to experience all your property has to offer.

In addition to event-driven revenue, other methods to increase guest "stickiness" include frictionless payment experiences, locked-in room rates, and deal offers.

How ROH drives event revenue

ROH helps increase event conversions through technology, which, in turn, directly increases the number of room bookings. Our easy-to-use software solutions also reduces the barrier for groups to engage in room blocks. As a result, properties that use ROH see a 15% average increase in spend managed through our platform, translating to increased profits and a 4.5x return on investment.

You want your customers to have a fabulous experience at your property with their event, room, dining options, and other amenities. All the team members who make those experiences happen are integral to the overall revenue opportunity that each guest presents. While events are a way to ensure large groups of people come through your doors, it’s essential that once they’re inside, they love it and want to stay. Everything from your software solutions and payment offerings to how the toilet paper is folded plays into that—every point of contact matters. Hundreds of guests from every successful event will either recommend your property or not, but when you get the details right, your customer loyalty—and your bottom line—will grow.

To learn more about how ROH can drive growth for your property group or hospitality brand, sign up for a free demo of our platform.