Written by OTAInsight
From carnivals and music festivals to patron saint celebrations and world-class sporting occasions, the Caribbean hosts an enormous variety of special events every year.
Having so much going on presents a great opportunity for accommodation providers to ensure the crowds check in before checking out the local attractions. However, keeping track of the sheer volume of events can be a challenge in itself when you’re so focused on maximizing occupancy levels. For a start, dates tend to change from year to year and some events might not be confirmed until a few months before they start.
Having the right events strategy in place can be a great source of revenue for hotels, resorts and apartment providers. Best of all, it can prove invaluable when it comes to putting heads on beds during shoulder seasons and help your sales team attract lucrative group bookings. However, keeping track of what’s happening in your market can be a time-consuming process.
This is where a revenue management solutions can help, providing access to a ready-made, market-wide calendar of events and holidays. Not only can their business intelligence tools help you keep an eye on local availability versus expected demand but the ability to see what your competition is charging will also be key to ensuring you’re not priced out of the market before you’ve even entered it.
Best of all, with the ability to customize your dashboard and choose the areas as well as event types that you know will be most relevant to your customer demographic, your team will be freed up to focus on giving your guests a great experience during their stay.
So, with so many variables that can influence your business, it may be time to consider bringing on board a revenue management solution that can give you an accurate snapshot of all areas of your market to your calendar of must-attend events.