The worldwide music tourism market is about to develop at a CAGR of 8.5% till 2032 to $13.8 billion, as per the newest analysis research. That is fueled by the meteoric rise in demand for stay occasions post-pandemic, coupled with the rise in music festivals world wide.
In response to conservative estimates, Taylor Swift’s Eras tour alone added $208 million in lodge bookings income within the U.S. in 2023 giving a lift to the lodge trade on the again of direct bookings, on-line lodge reserving engines, on-line journey businesses (OTAs), and many others.
Equally, the international sports activities hospitality market is about to develop to a dimension of $ 79.1 billion in 2032 at a CAGR of 20.8%. The information fairly clearly reveals that there’s a gold mine ready to be capitalized on by the hospitality trade in relation to leveraging music festivals, live shows, and sports activities occasions.
The good factor to do for a lodge proprietor could be to make sure that one has methods and techniques in place to assist them leverage the world of music and sports activities tourism. Listed here are 5 such methods that may assist a hotelier to profit from such occasions and drive up direct bookings:
1) Personalized Promotional Packages
Customization is vital to significant engagement in immediately’s on-line world. This holds true for accommodations and lodge reserving engines as nicely. An amazing concept for a personalized promotional bundle is to have the visitors current the tickets to the live performance or sports activities occasion they are going to be attending and supply particular charges for a similar. It is a fast and simple method to incentivize your visitors to make a direct reserving.
2) Search Engine Advertising (SEM)
As a hotelier, having sturdy visibility on serps within the type of Google listings, evaluations administration, stay charges, and many others. is of the utmost significance. In response to analysis, 72% of cell bookings occur inside 48 hours of Google searches. This goes to indicate how totally necessary it’s to have your search engine advertising in place to drive bookings.
3) Dynamic Pricing
When Taylor Swift took her Eras tour to Europe, the typical lodge charges went up by 44% in comparison with the charges earlier than Taylor arrived. This reveals the significance of getting dynamic pricing constructed right into a hotelier’s system both on the direct reserving channel or by way of a reserving engine integration. A pricing system that responds to a spike in demand is crucial for a sizzling proprietor to profit from the elevated demand.
4) Collaborations and Partnerships
Taking a leaf off of the personalized promotional packages, one other approach of standing out for a lodge proprietor is to collaborate with the organizers of the occasion to land an unique bookings deal thereby directing all of the demand to your properties. Nonetheless, in such conditions, it turns into much more necessary for lodge managers to have a sturdy reserving engine in place that may deal with a sudden enhance in bookings.
5) Occasion-Based mostly Add-Ons
If a hotelier just isn’t in a position to lock in an unique reserving take care of the occasion organizers, right here is an alternate technique you need to use to reinforce your visitors’ expertise. Add-ons. Offering a shuttle service to and from the venue completely in your visitors; and creating itineraries in your visitors across the occasion that they will observe can go a protracted method to bettering your visitors’ expertise.
Right here’s a helpful guidelines for hoteliers who wish to capitalize on the increase of live shows, sports activities occasions, and music festivals:
Reserving Engines: A Hotelier’s Jack of All Trades
“When there’s a gold rush, promote shovels” is an previous saying on this planet of prudent businessmen. For hoteliers, the gold rush is the staggering increase within the international music and sports activities tourism market. The shovel, on this gold rush, is the technique and system {that a} hotelier places in place to handle the rise in demand.
A lodge reserving engine is a hotelier’s finest pal in such a situation. A reserving engine that may create personalized promotional packages, assist with search engine advertising, present dynamic pricing, create worth add-ons, and handle excessive demand.
Enter SwiftBook by STAAH, which is an all-in-one reserving engine for accommodations that has the entire above options and extra. Right here’s a fast take a look at the best-in-class options that SwiftBook presents:
If you’re a hotelier and wish to make the most of the increase in international sports activities and music tourism then e-book a demo for SwiftBook now and watch your direct bookings undergo the ceiling.
Leveraging Live shows, Sports activities Occasions, and Music Festivals for Direct Bookings was final modified: July third, 2024 by
