The Rise Of The Pop-Up Venue

Australia’s tourism and hospitality industry has certainly taken a hit a result of pandemic related restrictions and social distancing requirements. But many venues have been looking for unique ways to adapt to the new landscape and maintain some form of revenue during periods where normal trade is not possible or is significantly reduced.

Seemingly, pop-up venues are a trend that is taking over the sector as a way to offer consumers a unique experience when their core product is unavailable. With young people spending more money on experiences rather than material goods, this is a great way to draw the interest consumers and establish a new stream of income.

This trend spans across hospitality venues such as bars and restaurants, accommodation venues, and even entertainment providers hosting pop-up gigs, galleries, and more. Whilst the concept is not exactly a new one, the way in which businesses are using them are adapting…

Often pop-up venues can be found in busy public areas, unrented retail space, or at a unique location – but now businesses are partnering with each other to gain mutual benefit from their pop-up ventures. Increasingly, we are seeing brands who want to test out a new concept partnering with venues who are seeing reduced trade due to the pandemic, utilizing each other’s strengths and overcoming their weaknesses.

This often sees retail powerhouses working with hotels and accommodation providers to make use of their otherwise empty spaces. Transforming properties event halls and ballrooms into a short-term venture provides the hotelier with revenue for use of the space and allows the retailer to launch their new concept without committing to a long-term lease or traditional bricks and mortar store.

As well as working with other brands, some hoteliers are taking it upon themselves to develop pop-up venue concepts to make the most of their venue. Whilst travel restrictions may be hurting occupancy levels, there is ample opportunity to create a new and exciting offering to entice locals to book a weekend away.

Rooftop igloos, countryside glamping, and many more unique ideas are popping-up in the accommodation market, and these new ideas allow consumers to try out something a little bit different without travelling to far from home.

So, has your venue considered launching a pop-up experience to help overcome the impact of the pandemic? We expect this trend will flourish in the post-pandemic landscape and continue on for many years to come.

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Why You Should Work With Specialty Hotel Lenders

The Australian lending landscape held steady for many years with the big four banks standing in the most prominent position, generating a profit pool of around $30 million each year. However, over the past 5 years the landscape has begun to adapt as small non-bank lenders step up to compete with these legacy brands.

For consumers, this is a big win, as more competition within the financial services industry often results in a broader range of funding products available and at more competitive terms. In 2019 the statistics reflected this shift away from traditional finance, with a decline of 12.5% in the total loan value across Australian’s major banks. There was a corresponding rise in the loan value among non-bank lenders of 42.4%, suggesting that the role of these alternative lenders is becoming more significant.

As we examine why non-bank lenders are rising in popularity, one standout reason is their tendency to specialize in particular markets. Alternative lenders often service niche markets and develop tailored funding products designed to meet the unique needs of those operating within that industry. This is great news for business owners who don’t necessarily fit the cookie-cutter offerings of traditional lenders but are still seeking funds to establish and grow their business.

For hoteliers, the requirement for constant renovation and refurbishment can be a financial strain. Finding a funding partner that can offer an ongoing solution for this can help ease this burden and give hoteliers confidence that they can continue to undertake projects within their renovation cycle. However, finding the flexibility to achieve this with a traditional lender can be difficult, due to lengthier approval timelines and more stringent collateral requirements.

This is where specialty funders can step in, offering up tailored solutions that take these unique needs into consideration. Non-bank lenders can provide more flexibility in the terms of their funding to meet hoteliers’ circumstances, and often operate under a less risk adverse matrix than traditional lenders.

Along with the more tangible benefits, there is the customer experience to consider. Specialty lenders often operate closely alongside businesses and suppliers within the industry they service, giving them a unique insight. These relationships allow the lenders to better understand the needs and wants of their borrowers and take this into consideration in their lending experience. In fact, an outstanding 90% of SMEs surveyed by Banjo said they preferred their experience with alternative lenders over the banks.

These relationships can also have other benefits, many specialty lenders establish preferred supplier connections within their industry. This can mean the process from picking out your products to obtaining funding is streamlined as there is an established procedure. The same concept can also apply to business owners who are part of a larger chain or franchise, who may have a funding agreement established with one or more lenders.

We encourage accommodation business owners to explore their funding options and take into consideration smaller specialty lenders as well as the big banks. There are a wealth of benefits in working alongside someone who operates exclusively within the accommodation industry. If you are looking for a specialty hotel lender, talk to the team here at Accommodation Finance Australia about our tailored funding solutions.

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The 8 Commandments of Social Media Marketing for Hotels

1. Find your image, and stick with it

Social media is an extremely visual medium, and users go to great lengths to ensure that their profiles and feeds meet a specific aesthetic. This is the equivalent of creating a brand image and is an approach that should be adopted by any hotel brand’s social media accounts. Many hotel brands will have a carefully cultivated brand image with an accompanying personality and tone, which should be reflected in the property’s social media.

The aim is to create a page that people want to follow, even if they haven’t been a guest. By finding a visual style that appeals to your target audience you can find and attract new visitors from looks alone. It is also important that once you find your aesthetic groove that you stick with it, your followers may become disinterested if your content is inconsistent.

2. Know who you’re talking to

This is vital and underpins any good social media strategy. Before you even publish your first post you should have an in-depth understanding of your target audience. Defining who your current customers are, and who you want to reach, will inform all your social media marketing decisions.

Understand why they are following your page, are they brand loyalists, past guests, or aspiring travellers? Which content to they engage with most, behind the scenes staff photos, professionally taken shots of the property, or unique insights into the local attracts? Knowing all of this will help you get the most value out of your social channels are increase engagement potential among your followers.

3. Create a conversation

It is important to remember that social media is not a one-way channel, and this is an opportunity to create a conversation with your audience. Platforms like Facebook and Twitter are especially great for this and allows followers to ask questions or leave feedback for the hotelier to respond to in a public forum. In saying this it is important that you train whoever will be managing your social media pages on how to best respond to consumer queries. Giving a guide on following your brand tone and addressing negative feedback appropriate will save you from any social media blunders and help maintain a consistent brand image.

4. Optimise, always

An important part of effective social media marketing is to ensure that you are getting the most out of every piece of content you publish. Optimising your content for specific platforms and purposes can help you achieve your goals – working smarter, not harder.

For example, if you want to reach new audience members via Instagram, but don’t have the funds to run a sponsored campaign. Focusing on optimising your content to appear on the explore page can help you reach millions of new accounts daily. The use of strategic hashtags, clever captions, and location tagging can be the difference between a handful of views and a viral post.

5. Video is valuable

Video is becoming the cornerstone of social media content and is a valuable tool for any hotelier. The use of video content can provide a dynamic element to your content and is a highly effective visual medium. In addition to this, video content is proven to generate 10 times more engagement and then other formats. For hoteliers, video content can also be used to give virtual tours of your property and showcase everything you have to offer. This can be used across social channels as well as your hotels website as a selling tool.

6. Involve your guests

User generated content has a wide range of benefits and is an excellent social media strategy for businesses. Involving your guests in your social media channels is an excellent way to increase engagement, please your followers and get new and create content with little time investment.

Encouraging guests to use hashtags in their photos can help your profile gain exposure, and it also lets you look at all the photos and videos of guests enjoying their stay. If there is some great content, be sure to approach the original poster and ask if they would be happy for you to re-share it to the hotels account.

7. Invest in the right platforms

Making data driven decisions is an important part of any social media strategy and can save you from investing time and money in the wrong places. Be sure to use analytics tools to monitor your performance and only choose to invest in paid campaigns on platforms where you will get the best return.

Looking at what platforms you have the biggest following, where your audience engages best, and where there is the most potential for growth are all key considerations if you are looking to proceed with a paid campaign.

8. Utilise remarketing

Remarketing is an amazing tool that can help keep your hotel front of mind for potential guests. People may look at your website, and even begin the booking proceed before abandoning or getting distracted elsewhere. However, there is still an opportunity to capture a booking and this is where remarketing can help.

Remarketing on social media platforms allows you to place sponsored ads in the newsfeeds of website visitors, offering them a reminder about your property. You can even pair this with a discount code or special deal to entice them further.

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5 Hotel Digital Marketing Ideas You Can Do Right Now

Start A Blog

Blogging is the original form of organic digital marketing and is a no-cost strategy that can help your hotels website rank higher in search engine, drawing potential guests to your website. As a hotelier you can start a blog on a range of topics such as what is happening at your property, local events and entertainment, and the best dining in the area. Whilst this strategy is a little more time consuming than others, if you focus on creating quality content it will continue to deliver visitors for years to come.

When starting your blog, ensure that you are using best practice techniques regarding SEO to get the most out of your posts. Using the correct heading tags, hashtags, keywords and backlinks will make all the difference!

Be Active on Socials

We know you have probably heard this time and time again, but we cannot stress the importance of socials enough. Social media should be at the heart of your consumer outreach strategy and offers a wealth of platforms to deliver creative and engaging content to potential guests. If you are not already, building up a social media presence is a great way to get your brand name out there are reach new audiences. It also is a way to continue engagement with past guests to encourage re-booking.

Social media can be done organically, or you can invest in paid campaigns. Depending on what your goals are paid campaigns may be the best option and are relatively low cost compared to other digital marketing initiatives. Creating and publishing text, photo and video content which is unique to your brand can help you develop a personality, whilst showcasing everything your property has to offer.

Make Yourself Mobile Friendly

Google announced that the number of queries they have on mobile has surpassed those completed on computers, indicating that mobile integration is more important than ever. Starting with your hotel’s website, make yourself accessible by ensuring your website is mobile responsible and provides a good user experience.

Features such as adaptable font sizes for different screens, limiting pop-ups, making sure the menu and search bar are easily accessible and ensuring information such as phone numbers are linked with click-to-call functionality. Further, ensuring that you have search engine features such as Google My Business set-up, so that when guests search for you online all your contact information is readily available.

Set Up A Remarketing Campaign

Hotel bookings have an alarmingly high abandonment rate, meaning that many consumers get to the booking stage but do not follow through. This doesn’t mean that they’re not interested anymore but could have gotten distracted or wanted to discuss with their travel partner!

Remarketing is a great way to get these consumers back on board, by reminding about your property through display ads across websites and social media. This strategy can decrease abandonment rate and increase bookings and keeps your brand front of mind. Remarketing campaigns can be run on search engines using tools such as Google AdWords, or via social media platforms such as Facebook and Instagram.

Get Creative with Video

Video as a marketing medium is quickly growing in popularity. This is especially true in industries where consumers are focusing on the visual aspect of an offering, which definitely applies to the accommodation industry. Research shows that people are 10 more likely to engage with video content, meaning that one video post can achieve a much broader reach than a simple text or image post.

Further, for hoteliers’ video offers a platform to offer a unique insight into their properties offering. Video tours are a great asset to have available on your hotel’s website and findings show that bookings are 67% more likely as a result.

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Far North Queensland Leading The Way In Regional Travel Recovery

Traditionally Queensland’s Far North has been a tourism hot spot, with the region worth a whopping $2.5 billion annually. The draw of sites such as the Great Barrier Reef, the Whitsunday Islands and the World Heritage Rainforests bring a flock of tourists each year, however the impact of COVID-19 travel restrictions have devastated the area.

The Far North reportedly lost more than $200 million in bookings when the pandemic took hold of Australia in March. The extent of the economic impact to the region is still unknown, as interstate and international travel restrictions continue to constrain the tourism destinations potential earnings.

However, as restrictions begin to ease intrastate travel is becoming a popular choice for those who would have otherwise spent their holiday funds on an international trip. With the limitations on venues such as hotels, restaurants and pubs being lifted in the sunshine state, and tourism operators able to conduct group activities once again, Far North Queensland is set to be one of the first regions to recover.

Colliers research found that Cairns saw a spike in hotel bookings in June, an indicator that Queensland locals are eager to explore their states regional destinations. The government is throwing their weight being the region as well, dishing out an $11.3 million support plan titled the ‘Far North Queensland Tourism Industry Economic Recovery Package’.

The package aims to bolster the events industry, support commercial tourism operators, accommodation providers and food & beverage outlets. The funds will also be utilised to kickstart the construction of four pending infrastructure projects which are set to enhance the regions offerings.

As well as this overarching package, there are several smaller government support and rebate schemes put in place to help specific service providers get up and running again. The COVID-19 Marine Tourism Rebate will provide $2 million in support to marine based tourism operators in the North Queensland region, with a focus on those located in Douglas and Whitsunday. In this same space, whale watching tour operators will have their commercial fee waived for the 2020 season.

Whilst much of the support is centred on helping the business owners located within Far North Queensland, the state government has kept in mind that getting tourists to the regional centre is an important part of the destination’s recovery. The Queensland government will be investing $5 million in a plan to create new routes to 15 regional airports across the state. In addition to this, Jetstar will be upping the number of fights from the Gold Coast and Sunshine Coast to Cairns in an effort to encourage local travel.

Far North Queensland is not unique in this situation either, with other regional destinations such as Darwin are also seeing a spike in interest from Australian travelers. Colliers recent studies have led them to state that Australia’s tourism industry will rebound, and quickly, with the domestic leisure segment leading the way.

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Hotel Hygiene: Instilling Confidence

During COVID-19 it is more important than ever that accommodation providers implement thorough cleaning procedures to ensure the safety of their guests. Further, making sure that guests are aware of the efforts being taken to safeguard their health is an essential step in instilling confidence in travelers.

When it comes to property’s needs step up their health and safety precautions, guests will find reassurance from visible signs. This may mean that guests are examining their rooms a little more closely. Putting in place visual cues can ease guests concerns, this can include paper seals across toilet seats after cleaning and notes from housekeeping with the time of their visit. Going the extra mile with in-room amenities will also show guests you are keeping hygiene front of mind, including hand sanitiser and disinfectant wipes allows guests to clean items as they see fit.

Many hotels are opting to introduce new techniques such as the use of ultraviolet light to test the quality of cleans, antibacterial fogging of guest rooms, and air sanitisers. In shared spaces the installation of hand sanitiser dispensers and social distancing markings has become commonplace, as well as the use of masks and gloves by staff members.

Utilising technology across all areas of the business can also help implement social distancing and hygiene guidelines. Swapping out guest compendiums for a link to access the information via their mobile or hotel app reduces the need for shared items among guests. Offering a contact free check-in also reduces the need for face-to-face interaction, with some hotels taking this one step further and introducing concierge screens or tablets to handle common queries and services.

In restaurants and dining spaces, it may be essential for guests to make bookings to ensure they can dine at their preferred time. With social distancing guidelines in place the capacity of dining areas may be reduced, limiting the portion of guests that can be served at one time. This will be particularly important for properties which offer a self-serve buffet style breakfast. Hoteliers may have to consider adapting the buffet to a traditional table service dining experience to avoid issues surrounding open-air food displays and shared utensils. In this instance, guests may be encouraged to have breakfast delivered through room service or book a table ahead of time.

No matter what practices are put in place, it is essential that accommodation providers communicate their commitment to health and safety to their guests. Ensuring that people feel it is safe to travel and that their hygiene concerns are being addresses will create confidence among travelers.

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Sustainability In A Health-Conscious Landscape

The accommodation industry across Australia is still feeling the impact of the COVID-19 pandemic and with many interstate borders still closed and international travel far on the horizon, many hoteliers are looking for ways to be productive during this tourism lull. A common trend is hotel owners taking this time to refresh their rooms and communal spaces or undertake refurbishments while occupancy rates are low. Others are preparing their staff for a new way of operating in a more health conscious world, because in a post COVID-19 world guests’ priorities may look a little different, and this is something that hoteliers should be taking into consideration.

Travelers will likely be prioritising health and wellbeing above all else and will be looking closely at how accommodation providers are tackling this before booking. Although research suggests that guests do not want to see this incorporated at the cost of sustainability. Hoteliers will need to find a balance between addressing the health concerns of their guests with their desire to see properties adapt to more environmentally conscious processes. The COVID-19 pandemic has changed the focus over the last few months, however as things return to normal the looming threat of climate change will return as a high priority for consumers.

While taking into consideration how social distancing requirements and increased hygiene standards will impact hotel processes, one thing that is made clear is the additional strain it will put on resources. Limiting the number of people that can travel in lifts, increasing the frequency and depth of room cleaning, and changes surrounding the use of shared facilities will all dramatically change the behind the scenes of hotel operations. With impacts ranging from increased energy consumption, higher use of single-use products and more generous staffing to assist with these new measures, accommodation providers must consider ways to offset the financial impact of these changes.

So despite the fact it may seem difficult for hoteliers to balance sustainability within our new health-conscious landscape, the reality is that these changes can be implemented in a collaborative sense. The savings that properties can achieve by installing energy efficient lightbulbs and air-conditioning can offset the cost of increased lift usage, changing to ecologically conscious cleaning products can mitigate the environmental impact of more frequent cleaning, and higher staff levels are an opportunity to provide a more enriching guest experience.

We urge accommodation providers to see these changes as a positive chance to revamp the way their property operates. Whilst in the past sustainability initiatives have been viewed as a necessary but costly undertaking, there is now an opportunity to find synergy between environmental consciousness and the health concerns of consumers. Both of these issues are important to guests and incorporating sustainable practices into new hygiene and social distancing processes is a simple way to meet the expectations of guests in a post-pandemic landscape while addressing consumer concerns around climate change.

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Work-from-Hotel: Adapting To The New Normal

With many hoteliers seeing rising vacancy rates in the wake of COVID-19, some providers within the industry are looking for new and creative ways to encourage bookings and maintain revenue despite travel restrictions.

As a large portion of the Australian workforce transitions to work-from-home arrangements, many employees are going a little stir-crazy spending every day in their homes. Asia-pacific chain Choice Hotels is offering a solution, with the recent roll-out of their ‘work-from-hotel’ option which allows guests to book a room to work in for the day. This allows those currently working from their dining room table a change of scenery, along with a quiet uninterrupted work environment.

Prior to COVID-19, many properties were branching out and incorporating communal workspaces into their floorplans to accommodate the needs of business travellers. The co-working industry is seeing significant growth globally, and it was a logical next step for accommodation providers to become involved, however such large shared spaces have been shut down in Australia during the pandemic. This work-from-hotel offering is an extension of this concept, simply talking into consideration social distancing requirements. The innovative solution offers hoteliers a way to make use of their empty rooms and fill a gap in the market.

Taking it one step further, many hoteliers are offering morning tea and coffee for their guests or arranging meal deliveries in partnership with local hospitality businesses. This community collaboration helps boost business for those operating within the area and is an excellent example of how Australian’s are adapting to the new normal. Further, having guests in their rooms, even if it is not for an overnight stay, allows hoteliers to keep staff hours up and mitigate the impact on the hotels supply chain.

Whilst properties are not expecting workers to check-in five days a week, the new work-from-hotel offering allows people to have a little break from what can be a distracting home environment. Plus, getting to take in skyrise views or watch a movie on their lunch break is an added bonus.

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Domestic Travel Set to Kick-start Australian Tourism Again

There is no doubt that Australia’s tourism and hospitality industry has taken a significant hit due to the travel restrictions put in place during the current COVID-19 pandemic. As Australian businesses begin to plan for the easing of restrictions, the tourism industry continues to experience uncertainty as opening borders to international travel is still off the table. However, there is hope as new research has found that Australian’s are looking to see a little more of their own country.

In an effort to support small business owners in regional areas impacted by the floods, bushfires and the pandemic, we saw a rise in the number of domestic travel campaigns being launched by bodies such as Tourism Australia. Despite the current restrictions, efforts to encourage Australian’s to travel locally are set to continue post-coronavirus, with those same communities still struggling as a result of decreased tourism spend. In fact, regional areas are becoming more appealing to travelers who want to get out and about, but don’t want to expose themselves to COVID-19 whilst doing so. The smaller populations and spread out communities present a lower risk and are an enticing destination to kick-start domestic travel once again.

Whilst travel is not on the mind of consumers just yet, with over 80% stating they believed travel within Australia was still not yet safe, over 50% of those surveyed said they want to travel domestically when restrictions are lifted. When looking at what is driving Australian’s to want to travel, it was revealed that their number one motivator was to support Australian tourism.

However, the impact of the pandemic will be felt even once restrictions are lifted. It was found that future travelers will be more aware of hygiene standards during their stays, meaning that accommodation providers will be expected to follow strict standards. Further, 50% said that they would opt to drive to their travel destinations, rather than flying or making use of public transport in an effort to avoid exposure. Whilst this will continue to place a financial strain on the airline industry, it will help expand the scope of travel destinations beyond capital cities.

It is clear that domestic travel will help lead the recovery of Australia’s tourism industry and the many businesses which rely on it. We look forward to seeing Australian’s see a little more of their own backyard and help out some of the most impacted members of our community whilst doing so.

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Glamping: Outdoor Experience with Hotel Luxuries

The glamping trend isn’t necessarily a new one, with the concept popping up around the globe since the 2010’s. However, the trend is becoming more commonplace with mainstream accommodation providers getting on board.

Glamping is the concept of traditional camping paired with the luxuries that come with a hotel stay and is the perfect option for those who want a little adventure before a glass of wine and comfy bed at night. When you think of glamping, luxury tents may be the first thing that come to mind, however tipis, yurts, domes and treehouses all fall under this category. Many glamping experiences will include a proper mattress and bedding, a generator for lighting and potentially a bar fridge, and bathroom amenities which may be private or shared.

Though the idea really came to life in Africa, where the wealthy wanted the safari experience without sacrificing the amenities they have at home, glamping is now more closely aligned with sustainable travel. Allowing guests to sleep among a beach, forest or desert landscape without the environmental implications of a structure like a hotel. The concept holds appeal among the younger audience, who enjoy the opportunity to get among nature and socialise with fellow ‘glampers’.

However, this is not to say that you can’t get an inner-city glamping experience, with some properties pitching up tents on their rooftops. This gives guests sweeping city views and a night under the stars, without needing to travel far. This is a common occurrence during transitional months, where the weather is more palatable and hoteliers can generate a little extra income without having to run the operation year-round.

Hoteliers may even opt to open a second site dedicated to glamping. With a relatively low entry cost and high nightly rate, this can act as an additional revenue stream. In doing so, site selection and nearby attractions are key, as being close to stunning locations and activities for guests will drive interest.

Overall, it looks like the glamping trend is here to stay. With a range of options available from a more rugged experience to a fully-catered luxury stay, glamping holds appeal across a broad range of consumer groups and could be a valuable addition to any hoteliers portfolio.

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Ancillaries and Their Role In Creating A Customer Experience

For a long time hoteliers have been looking for ways to provide extra value to their guests experience in order to create more satisfied customers. For many years this came in the form of room upgrades, discounts at local hot spots and a knowledgeable concierge service. In recent years the concept of ancillaries has become somewhat of a buzzword, so what role do they play in the customer experience and why should this matter to hoteliers?

There is no doubt that the global travel industry has seen a trend towards selling experiences over the more material aspects of a holiday, which is a natural progression. This trend has been fuelled by many factors, one of which is social media. Guests are in pursuit of activities and experiences that align with the idealistic lifestyles of social media influencers, and ancillaries are a way that accommodation providers can deliver on that desire.

So why should ancillaries by front of mind for hoteliers? Whilst these used to simply be extra’s that were offered to guests upon check in, the role of such value adding elements in the overall customer experience has grown. In a highly competitive marketplace these ancillaries are a way that brands can distinguish themselves from competitors and are key in providing guests with a well-rounded travel experience that they talk about for years to come.

In an era where convenience is king there is a high value placed on the ability to walk down to your hotel lobby and tap into a wealth of local knowledge. Aside from helping hoteliers in building a satisfied customer base, getting serious about ancillary offerings can generate a new revenue stream. Hoteliers can capitalise by partnering with local vendors to provide discounts on day tours, dinner reservations and even beauty treatments. Not only does this result in an outstanding customer experience, but it can also be a brand building exercise where accommodation providers can build associations with likeminded local brands.

The next question is, in what ways can hotels become more active in selling ancillaries? With guests seeking more digital integration during their stay, technology plays a big role. Giving guests access to ancillaries through your website or app is a great way to add value whilst still ensuring it is convenient for the customer. However, it is important to balance digital touchpoints with human interaction, otherwise the service element may be lacking.

Another budding trend is the assignment of customer experience officers. Whilst this role may not be feasible for small boutique brands, for larger national or international chains having someone to focus on enhancing the guest experience can make all the difference. Having a dedicated team member to seek out and vet unique experiences is an asset to any accommodation organisation.

In whichever way you choose to be involved, shifting your focus to your ancillary offerings will be beneficial to your property. Adding that extra bit of value to make your guests’ stay an experience can elevate your brand and result in more satisfied customers, which we all know is good for business.

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Influencer Marketing and the Evolution of WOM Marketing

There is no doubt that word of mouth is one of the most effective and trusted forms of marketing, and this is particularly true within the accommodation industry. As a sector built on reviews, there is nothing more valuable to an accommodation-based business than to have people talking about your property. In 2020 the ways in which people do this has changed dramatically, from humble beginnings on review websites, word of mouth marketing has evolved into a complex web of Instagram influencers, travel bloggers and sponsored posts. The good news is, there is more opportunity than even to get the good word out to your guests.

You might be thinking, what is an influencer? Often influencers are just everyday people who have built a living sharing their passion online. This could be beauty, fashion or travel and is most prevalent on social media platforms including Instagram and YouTube. The reason who these influencers are so successful is because they have the ability to build real connections with their followers, which gives them significant influence over their audience.

A whopping 80% of marketers find influencer marketing effective, according to mediakix, and state that it enables their brand to build trust and expand their reach, whilst influencing purchase decisions. Arguably, no industry is better suited to influencer style marketing than the accommodation space, with the ability to offer social media superstars travel experiences in new and exotic locations (who could say no?).

So how can your property get involved? There are a few different approaches that hotels can use to take advantage of influencer marketing including free/discounted accommodation, sponsored content and brand partnerships.

The first method, offering free or discounted accommodation is by far the most common. This generally involves offering influencers or social media personalities a few free nights stay at your property, or rooms at a discounted rate, in return for a mention on their channel. This could mean featuring in one of their YouTube videos, or being tagged in a few of their Instagram posts. This is an excellent way to gain exposure and find your way onto consumers travel lists and is a great option if you have some occupancy during slow periods.

The second method, sponsored content, adopts more of a traditional advertising approach. This involves paying an influencer a set amount of money in return for a sponsored post or video on their social media channels. Sponsored content can be less subtle than other forms of influencer marketing, but it does provide more control over how your brand is portrayed and where you direct potential customers. You can brief the influencer on the type of content you want them to publish (taking into consideration it will have to align with their personal aesthetic and brand) , what the caption will be, and any links you want to be included. Prices will likely be based upon the number of followers an influencer has.

Finally, brand partnerships are potentially the most lucrative facet of influencer marketing for accommodation businesses. Many beauty and fashion brands are known for hosting ‘Influencer Trips’, where they bring together the biggest names in their industry to launch a new product or generate buzz about their brand. Being the host property of such trips is a significant opportunity to not only benefit from the revenue of large group bookings, but also feature on the various attendees’ social channels.

Influencer marketing is a unique opportunity to utilise the powerful voices of social media personalities to cut through the haze of marketing and reach audiences in an authentic way. Are we saying you must get on board? Not necessarily, but creating an environment and atmosphere that encourages social sharing at your property should be a consideration.

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Communal Spaces, A New Direction for Australian Hotels

There is no doubt that corporate travellers make up a large portion of hotel guests. For a long time, the in-room services available have been tailored to the needs of these business travellers, including shoe shining, suit pressing and complimentary Wi-Fi. However, properties are now looking outside of their guest rooms for ways to provide extra value.

In order to further accommodate this segment of guests, hotels are now focusing on shaping their communal zones into multi-functional spaces. By providing something more than a quite place to catch up on emails and scroll through social media, properties are able to add to travellers experience in ways which can’t be done from the confines of their room.

As CBD properties get refurbished there has been a clear move away from boxy business centres, with lobbies and communal areas being shaped into inviting functional spaces. This change aligns with a rise in popularity among co-working and co-living concepts, suggesting that consumers are seeking out shared experiences.

Some hotels are fully embracing this concept, with several chains including Accor and Marriott partnering with co-working companies. These partnerships offer guests flexible workspaces, reading nooks and cosy corners outside of their individual rooms.

There is a trend among young consumers in particular of spending less time in their rooms, and more mingling with other guests in communal areas. Many properties targeting Millennials have strived to create lobbies which offer more than just check-in, by adding coffee carts, bars, board games and even arcade consoles.

This is a way that traditional accommodation providers can compete with home-sharing providers. A notable draw card for guests when booking homestays is their ability to access a whole house, living, dining and outdoor areas included. This is particularly relevant for group travel, where guests are seeking joint areas to work, play, lounge and eat.

By adapting their current communal spaces to be a balance between quite working spaces and social hubs, hotels are able to appeal to the social traveller, whilst still meeting the needs of the corporate guest.

This form of innovation is becoming more and more common within the industry, with many providers re-evaluating the ways in which guests use the different spaces available in their property. Communal areas are a prime opportunity for hotels to add extra value to their guests, and this new direction for Australia’s accommodation industry could result in some truly unique experiences.

The post Communal Spaces, A New Direction for Australian Hotels appeared first on Accommodation Finance Australia.

Independent Hotels: Competing With Chains

For many hoteliers, competing with large chain hotels can seem overwhelming and intimidating. They can often fall into the mindset that due to their limited resources they are not able to compete with ‘the big guys’. However hoteliers need to understand that large hotels are still competitors, and they must address this with the resources they have available. Fortunately, there are many advantages independent hotel owners have over chain hotels, and if utilised correctly, can produce excellent results. To succeed today, hotels should strive to have the best service rating in their price category and location.

There are many advantages that independent hotels have over chain hotels, they should use these to their advantage, including

• Individuality – small hotels are often unique and original, which is a charming feature that attracts many guests
• Focus on individual property – managers are able to focus their attention and resources on an individual hotel, rather than spreading resources across a number of hotels
• More focus on guests needs and experience – hotel staff are able to create more personalised experiences for their guests
• Original concepts drive higher guest review – unique features of small hotels increase the likelihood of positive guest reviews
• No licensing or franchise fees- this allows hotels to use their funds elsewhere

Create Experiences and Build Loyalty 

One of the main advantages of being a small hotel is having greater control over the individual guest experience. Whilst you may not have the huge marketing budgets and resources of larger hotels, you do have the ability to mould and create a personalised experience for your guests. By creating added value for your guests, anticipating their needs and providing solutions, you are providing outstanding hotel service, as opposed to the standardised procedures they may experience at a large chain hotel. 

Upselling is also important during this stage, to really ensure the guests are getting the most out of their stay and you are maximising each customer. A hotel that delivers great experiences can compete in its price category/ location regardless of how big its competitors budgets are. By creating more personalised and memorable experiences, this builds up customer loyalty. You should also employ a CRM to ensure that every step of the guests process is a smooth as possible, this includes everything from pre-arrivals, on property and post stay. 

Online Presence

Your online presence is everything in this age of modern consumerism, and for hoteliers online reviews are critical. Many people rely on online reviews to guide their purchase decisions. According to a recent New York University study, 93% of travellers check online reviews before booking a hotel, and 53% will simply presume the worst and ignore you entirely if they cannot find a current review of your hotel. Encourage and incentivise guests to leave reviews and don’t forget to respond to the reviews within 1-2 days. Through the use of Online Travel Agencies (OTA), you are able to access niche markets, a valuable resource to attract new travellers to your hotel. You should also take advantage of metasearch engine, this is a search engine that gathers data from other websites and displays them together, e.g. Trip Advisor. 

Website

Your website is another very important marketing tool, that should be properly managed and optimised for user experience. The website should persuade potential customers that your hotel is a relaxing, stress free environment and it should contain relevant, accurate and engaging content highlighting your hotels features. The design of the website should be simple and easy to use with the ability to directly book and purchase your hotel room. 

The post Independent Hotels: Competing With Chains appeared first on Accommodation Finance Australia.

How To Choose A Financial Advisor

If you made a New Year’s resolution to choose a financial advisor or replace your current one, proceed with caution. This is one of the most important financial decisions you will ever make. The person you select will influence or control your investment decisions and the quality of those decisions will impact your long-term financial security, in particular during your retirement years.

 You can’t delegate your choice of an advisor the way you can hand off investment work. You own this decision, and your vetting process has to be good enough to separate the weak from the strong. Here's how to look past the smoke and mirrors.

1. Decide what type of advisor you want. These are the four basic types of advisors and the key characteristics for each.

Registered representatives, also called stockbrokers, investment representatives, and bank representatives, are paid commissions to sell investment and insurance products. Their primary sales licenses are Series 6 or Series 7.

Financial planners are a tough category. There are no licensing requirements for planners. Anyone can claim to be a financial planner whether it is true or not. Your vetting process should limit your selection to those who have earned the CFP, CPA/PFS or ChFC certification.

Financial advisors are Registered Investment Advisors (RIAs) or Investment Advisor Representatives (IARs). They are compensated with fees and are financial fiduciaries so they are held to the highest ethical standards in the financial services industry.

Money managers have the same registrations and characteristics as financial advisors. Their distinguishing feature is that they make decisions for investors without their approval in advance.

2. Be objective. Use a process of elimination--vet four advisors, and select one, so you have to exclude three. As you identify weaknesses, cross these advisors off your list. Focus on qualifications—among other things, you might want a professional who has retirement planning expertise. Don’t just choose the advisor with the best personality and sales skills; chances are this is not the person you want advising you on investments.

3. Gather and compare data. Get the same information from multiple professionals so it is easy to compare their responses.

Read the entire article here: 

https://www.forbes.com/sites/deborahljacobs/2013/01/03/how-to-choose-a-financial-advisor/#19caddef4774