Wall Street and Hotel Marketing

Stock pricesWhile investors brace themselves as Wall Street rises and falls, hotels need be prepared for such dips in the economy as well. Consumers tighten their wallets and reduce their spend during economic downturns. As a result, hotels can endure a decline in room reservations as guests cut back on travel expenses. It’s during these times staying connected to potential guests is mandatory.

Use social media to keep actively engaged with your fans and followers. Although they may not be spending, staying connected with you on Facebook or Twitter can provide them with subtle reminders of why they keep working hard to push towards a better future. Rather than focusing on new gimmicks to pull in short-term dollars, talk about your existing perks that can add value to their hotel stays: great location for weekend getaways; complimentary breakfast, WiFi, or parking; or an inexpensive family vacation package. The goal is to stay connected to your guests and in tune with their needs. And as Wall Street takes an upturn and consumer spending increases, your hard kept connections will already be considering booking at your hotel.

Contributed by: Nelson Toriano, Sr. e-Strategist, Milestone Internet Marketing

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