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23 – Diversifying Your Audience to Attract New Guests

23 – Diversifying Your Audience to Attract New Guests

Suite Spot

with Travel Media Group & Ryan Embree,
In this episode of Suite Spot, we speak to the unbelievable prosperity that the hotel industry is currently experiencing while preparing hoteliers for a time where revenue growth might slow. Host Ryan Embree teams up with Director of Marketing Anne Sandoval to brainstorm ideas and ways to reach new guest segments to insulate your revenue from an economic slowdown. Ryan and Anne share advice on how to identify the best opportunities within your guest/audience portfolio and how you can capitalize on those opportunities by leveraging your property’s amenities, features, and location. They also look at cost-effective ways to use digital platforms like social media and review sites to target the ideal market segment for your hotel. If you are interested in receiving a digital consultation for your hotel or to submit a question for future episodes, call or text 407-984-7455. Episode Transcript Our podcast is produced as an audio resource. Transcripts are generated using speech recognition software and human editing and may contain errors. Before republishing quotes, we ask that you reference the audio. Ryan Embree: Welcome to Suite Spot where hoteliers check in and we check out what's trending in hotel marketing. I'm your host, Ryan Embree. Ryan Embree: Thank you for listening to another episode of the Suite Spot. I'm very excited about this episode today. I think it comes at just the right time when we're talking about diversifying the type of guests that your hotel is attracting. And we're going to start in the, What's News from a recently released CBRE report talking about the industry and how it's going to be performing within the next couple of years. Now of course this is just a forecast, but like we've been hearing over the past couple of years, life is good right now in the hotel industry. rev par is up, you know, we had that uh, amazing streak of rev par growth and CBRE is kind of echoing that in this report stating that they found in 2019 they're predicting a 2.5% increase in rev par with an additional 2% increase in 2020. Now, however, in 2021 they're actually projecting a slight decline to rev par of 0.6%. So you know what I wanted to really get through and, and this is kind of what we've been hearing, we've been kind of hearing this trend of cautious optimism for hoteliers. Ryan Embree: We're in a, we're in a time period right now of extreme growth of rev par growth, you know, revenues and all time high for most hoteliers, but they keep having that cautious optimism idea in our head of, you know, "this is great, but there's going to be a point where this, this train kind of stops" and what we're going to discuss today is really setting you up for that, right? We're in this time period right now of a lot of revenue growth. But what happens if all of a sudden we do hit that blip, you know, whether it be in 2021 whether it be next year, this year, are you prepared for it? So we felt that it was necessary to do a episode like this. You know, right in the heart of this rev-par growth to really prepare yourself for when that, that rev par decrease might happen. Ryan Embree: So in saying that with me, who better to talk about how to market to new guests than our own, uh, Director of Marketing at Travel Media Group Anne Sandoval. So welcome in Anne. Anne Sandoval: Thanks for having me Ryan. Ryan Embree: Like I said at the very beginning of this episode, very excited to kind of talk about this topic because you know, when, when I was in my past role as a digital specialist, you know, I would talk to a lot of hoteliers, you know, they would have a really great sense of where their occupancy was coming from. A majority of their occupancy. You know, I'd talked to a hotelier and they say, "listen, I've got about 80 to 90% of my occupancy coming from oil and gas workers" and I would always present to them that idea of, "okay, well what happens if that occupancy all of a sudden diminished or di...
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