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How to find ancillary revenue streams

01/22/2019| 8:02:09 PM| 中文

Projects that have extra revenue should be great for all stakeholders including guests, staff, investors and local communities.

Hotel revenue doesn’t have to be restricted by the number of rooms in a given property. Ancillary revenue is well worth seeking out, and there are plenty of ways to boost income when you’re at maximum occupancy, or to ensure your hotel can stay afloat during the low seasons.

Many hotels rely on their food and beverage offering, drawing in locals and visitors to keep revenue ticking over even in the quiet periods. Value-added services like spas are another great way to add revenue, attracting extra spending from guests and enticing non-guests too. But look beyond the stable hospitality offerings and there’s even more opportunity.

“In a competitive market space,” says Biswajit Chakraborty, General Manager of Mumbai’s Sofitel BKC, “alternative streams of revenue that go beyond traditional offerings play a significant role and is a factor that is constantly in consideration when we look at maximising revenues.”

At the Sofitel BKC, part of its French bistro restaurant has now been converted into a cigar lounge where guests and the city’s smoking enthusiasts can enjoy a selection of high quality cigars. While only a small portion of staying guests make use of the lounge, it’s the local businesses that bring in the most revenue here. One group from a nearby office building recently came to celebrate a milestone, explains Chakraborty, and in the process spent hundreds of thousand of Indian rupees on cigars and whisky for their team.

Not only do services like this create extra income, but they also add value for the guest, highlighting the luxury aspects of the hotels and creating a unique experience. But you don’t have to make major additions or adjustments to your hotel in order to gain revenue.

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TAGS: ancillary revenue | hotel revenue | Sofitel BKC | Grecotel
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