Every industry today is largely consumer driven with products and services meant to cater to people’s s needs. Consumers today have more choices than ever before and they want more freedom and flexibility in everything. The same holds even for the travel industry.
Unfortunately, this has not changed when it comes to hotel booking. People are used to booking a room for an entire day even when they need it for just a few hours.
Room by Slots impacts what kind of Travelers?
- Travelers in Transit • Corporate Travelers
- Backpackers • Leisure Travelers
- Medical Travelers • Religious Travelers
How room by slots impacts Hotels?
Increase Occupancy: Hotels cannot always bring down their rates to attract more customers which might result in compromising with the brand value of the hotel.
By offering room on a slot basis, hotels can attract this untapped segment of customers to increase occupancy. Moreover, when they sell the room by slots at lower rate, they are advocating fair pricing and do not diluting the brand value of the room as the full day rates remains the same.
Monetize additionally: Majority of the existing customers that the hotels get through various channels (traditional OTAs, direct bookings, corporate tie-ups, etc.) include guests who check-in late in the evening and check-out in the morning. Hence, most of the rooms are occupied in the night but remain vacant in the day time. Offering room by slots for those periods of time enables the hotels to monetize the rooms additionally.
Increase in RevPAR (Revenue per Available Room): By selling the room by slots, the hotels have the opportunity to sell same inventory more than once in a day. The total revenue earned from a room in a day by selling them multiple times can add up to lot more than the original full day rate.
The technology needs to be evolved and the capacity needs to be built to support this change
STAYFLEXI has taken the step in facilitating this change.
At STAYFLEXI, we take pride in the fact that we are driving this change in hospitality aimed at benefiting every stakeholder in the travel ecosystem – travelers and hotels alike. We are delighted to see more and more hotels joining hands with us in this initiative.