Finding the right hotel loans is essential to maintain growth and to stay competitive in the hospitality industry. Airbnb is a serious threat to many hotels in urban areas or resort destinations. Developing strategies that differentiate your hotel in a positive way from these hit-or-miss accommodations will provide you with added visibility and increased interest in your properties. There are a few ways to set yourself apart from Airbnb accommodations in your area.
Focus on Your Amenities
Your hotel offers many practical amenities that Airbnb properties cannot. From swimming pools to business centers and high-speed Wi-Fi, your establishment caters to every part of the travel experience. Hotel construction financing is a great way to fund new amenities and additions to your lineup of services. By offering guests the best experience, your hotel will improve its reputation and will set itself apart from bare-bones Airbnb arrangements with little amenities.
Make Booking Easier
Upgrading your booking processes with new equipment and increased staffing is a great use of hotel financing resources. Especially for hotels that are not part of a chain, making sure the booking process is easy and transparent will ensure that guests can make arrangements for a stay online or on the telephone. This strategy will help your hotel to stay competitive in the modern hospitality industry.
Target Your Primary Audience
Understanding the differences between your hotel’s target customers and those who prefer Airbnb accommodations will allow you to position yourself correctly in the industry. Hotel construction financing arrangements are designed to help you modernize your current hotel properties and acquire new ones that will appeal to your specific niche. A luxury hotel and resort, for example, is not in direct competition with Airbnb and its bargain-hunting customers. If you offer affordable accommodations, you may want to target your potential customers with ads that focus on the services you offer and that Airbnb accommodations do not.
Build on Your Successes
Taking a hard look at your guest data to determine the primary reasons your customers choose your hotel will allow you to focus your financial efforts where they will do the most good. For example, if your facility primarily caters to business travelers, upgrading your connectivity and equipment with the help of customized hotel loans could promote your appeal among this niche of the hospitality marketplace.
At Stonehill, we offer hotel loans designed with your needs and your hotel in mind. We go the extra mile to ensure that your financial arrangements suit your needs perfectly. Call us today at 713-666-2544 to schedule a consultation. We are here to serve you.