Home Hospitality Newly Released Compilation of Case Studies Explores the Surprising and Dramatic Results...

Newly Released Compilation of Case Studies Explores the Surprising and Dramatic Results of a Booking Recovery Solution

What keeps hoteliers up at night? As any hospitality industry veteran could surely tell you, this is no easy question to answer, as hoteliers inevitably face a wide variety of industry-specific challenges throughout their careers. However, at the top of the list, we will likely find two notable thorns that have festered, rather painfully, in the sides of hoteliers for years – direct booking abandonment and the ongoing dependence on costly OTAs.

Hotel brands must regard this particular set of challenges with the utmost care and diligence because a property that fails to prioritize direct booking revenue growth strategies will, in all likelihood, fail to establish sustainable success. After all, direct bookings are the bread and butter of any hotel and offer distinctly favorable profit margins compared to bookings made through OTAs due to their notoriously high commission rates. Not only that, but direct bookings provide hotels with more control over a guest’s initial touchpoints with the property. This, in turn, empowers hotels to establish more personalized and meaningful relationships with guests early on in their journey.

Unfortunately, direct bookings are increasingly difficult to capture, that is, if hotels don’t have the appropriate processes and tools in place to drive direct booking revenue. Let’s consider the following statistics:

  • Only 35% of hotel bookings globally are made directly on a hotel’s website, with most bookings being made through third-party channels. (Siteminder)
  • According to a report by SaleCycle, the average global abandonment rate for hotel bookings is 81.6%. (SalesCycle)
  • 41% of travelers choose OTAs because they believe they offer better prices, indicating that price competitiveness is a major challenge for hotels. (Koddi)
  • 40% of hotel email marketing messages need to be opened, highlighting the challenge of reaching customers through this channel. (Revinate)
  • 50% of travelers abandon hotel bookings due to a lack of personalized offers or promotions. (Triptease)
  • 31% of hoteliers spend between 20-30% of their marketing budget on customer acquisition, while 18% spend more than 50% of their budget on this area (Cendyn).

Fortunately, a solution exists to solve this problem – a booking recovery platform modeled after the cart abandonment recovery solutions that have long ruled the online retail industry. With so much proof of concept for this powerful tool across the e-commerce realm, we couldn’t help but wonder – why hadn’t anyone created a powerful booking abandonment tool for the hospitality industry?

This line of thinking led to the development of RezRecover: a powerful solution for the hotel industry that delivers automated email messages and texts, incorporating real-time data to recapture abandoned bookings.

The result? High email open rates, recovered reservations, increased direct booking revenue, and more engaged guests. The integration is simple and intuitive, and the results are not just good. They’re dramatic!

Download our first-ever collection of RezRecover case studies and discover how:

  • A small independent property saw an ROI of 125X
  • A beach resort had an 18.2% conversion rate and recovered $47,531 in less than a month
  • A multi-property hotel chain expects $4,406,262.60 in recovered revenue in its first year using the platform
  • A family activities resort achieved a total ROI of 69X

Explore these success stories and many more in our free case studies compilation available here. 

Colton Bradshaw
Marketing Director
RezRecover by CartStack

Source link

Previous articleRoy Rogers Restaurants Celebrates 55 Years of Business As Legacy Brand Continues Growth
Next articleExit interviews for restaurants: Steal this script