After two years of social distancing and on-off lockdowns, people now yearn to participate in live events. A TravelPulse November 2021 global survey shows people are more optimistic about business in-person events again, whereas revenge travel is on the rise.
It’s excellent news for hospitality venues.
But besides gearing up for reservations, consider how you can plan events to take full advantage of your guest’s increased appetite for travel to generate revenue for your hospitality business.
Why events for hospitality venues will be crucial in 2022
Special events influence the financial success of hospitality venues. Here’s why.
- Well-planned events attract visitors: The human brain is attracted to novelty. Special events give a reason for people to either come back to your venue or visit for the first time. It also provides opportunities to get creative with your marketing efforts. Consider a themed look at amusement parks, seasonal offers and holiday specials.
- Getting creative with events differentiate you from your competition: Avoid doing the same things as the other venues in your surrounding areas. Think of ways to emphasize what’s unique about your venue through events or give a unique twist on the familiar. For example, create events around obscure reasons or little-known holidays.
3 ways to maximize your earning potential from events with contactless technology
1. Use contactless solutions to delight guests with a seamless registration and payment process
Successful events attract people to your hospitality venue. You’ll need a system to manage the inflow of people and minimize queues. Spending too long in lines at events is frustrating, and contactless solutions shorten wait time by simplifying both the payment transaction and registration process.
Bonus tip: Contactless registration reduces your guest’s exposure to COVID-19 and reassures them you take their health and safety seriously.
2. Make use of food and drink vouchers in their welcome package to encourage guests to spend
Events are also a huge earning opportunity for your food and beverage operations.
Some ideas:
- If your club or hotel is well-known for its food, offer dining credits at your restaurant as a limited-time promotion during your event
- Pre-load complimentary drink vouchers as part of your amusement park or beach club’s welcome package during a summer promotion.
- Create an exclusive, time-sensitive dish for your event and offer this dish to people who spend above a certain amount. This amount should be 20-30% above your average order value to encourage them to spend more and redeem your exclusive dish
You could tap on the convenience of contactless technology by preloading these promotions and vouchers on your RFID form factors as part of your welcome package.
3. Encourage guest spending by reducing friction between purchases
Cashless transactions are significantly easier to perform versus cash and card transactions. Your guests no longer need to carry around wads of cash or take cards out of their wallets.
Cashless technology shortens the payment process to a series of taps. We’ve seen implementing cashless technology increase guest spending by 20% on average.
Since all payments are digital, there’s no need for guests or your staff to carry around paper receipts or track spending with order chits. Everything is captured within an integrated guest management system, allowing everyone to check balances and track order history at their convenience.
Events are your golden ticket to maximise your revenue.
These strategies help you combine innovative events with the convenience of contactless technology and analytics. You’re now set to grow your hospitality business and maximise people’s increasing appetite for travel and participation in events. Visitors will appreciate your efforts to make their life easier!
