The strategy for increasing revenue and profitability for 2025 involves enhancing market positioning, optimizing operational efficiency, and expanding revenue streams. The aim is to grow total revenue from a forecasted INR 34.84 Crores in 2024 to INR 50.02 Crores by 2025.
To enhance market positioning, the plan includes developing targeted marketing campaigns for industries like aviation and pharmaceuticals. Additionally, leveraging new travel hubs through exclusive packages, and collaborating with industries for corporate bookings play a significant role. The strategy also includes using guest feedback for service improvement and increasing loyalty among frequent travelers.
Optimizing operational efficiency involves reviewing staffing levels, cutting energy costs, and implementing technology for seamless operations. By fine-tuning room pricing with dynamic revenue management, the strategy ensures competitive pricing, while training and supply chain evaluations further streamline operations.
Expanding revenue streams means introducing innovative dining and leisure experiences, leveraging new venues for significant events, and partnering with local attractions. This is envisioned to attract diverse clientele, from corporate to leisure travelers, improving both room occupancy and event hosting capabilities.
The strategies
⛳️ Strategy 1: Enhance market positioning
- Develop marketing campaigns targeting the rising demand from aviation, consulting, pharmaceuticals, and automobile sectors
- Leverage the opening of the new terminal by offering exclusive packages for travelers arriving at the 16 connected airports
- Collaborate with Tata Electronics and other nearby industries to secure corporate bookings and events
- Increase online marketing efforts to boost awareness and attract regional and domestic travelers
- Host industry-specific events and conferences at the new restaurant and banquets to drive footfall
- Partner with local tourism boards to promote the hotel in key domestic markets
- Utilise guest feedback to fine-tune services and improve guest satisfaction
- Offer loyalty programmes emphasising value propositions for frequent travelers
- Use targeted digital advertising to attract high-yield segments
- Launch a referral programme encouraging guests to recommend the hotel to peers
⛳️ Strategy 2: Optimise operational efficiency
- Review and adjust staffing levels to match predicted demand enhancements in 2025
- Implement energy-saving initiatives to reduce operational costs
- Regularly evaluate and optimise the supply chain for cost savings
- Enhance revenue management strategies to optimise room pricing dynamically based on demand
- Streamline reservation processes to improve inventory management
- Minimise wastage in food and beverage operations in the new restaurant
- Use data analytics to predict trends and make informed staffing and resource allocation decisions
- Conduct regular training sessions to improve staff efficiency and service quality
- Optimise the use of technology for seamless check-in and check-out experiences
- Negotiate better terms with suppliers and partners to reduce expenses
⛳️ Strategy 3: Expand revenue streams
- Launch innovative dining experiences in the new restaurant to attract local and guest diners
- Promote the new banquets as premier venues for weddings, conferences, and corporate events
- Create themed weekend getaways focusing on lifestyle and wellness for short-stay guests
- Initiate partnerships with local attractions to offer bundled travel experiences
- Offer exclusive, high-end packages for guests attending events at the new terminal
- Develop a loyalty programme with incentives for frequent stays and onsite spending
- Introduce a bespoke concierge service to cater to high-end guests
- Enhance recreational facilities to encourage extended stay bookings
- Explore collaborations with airlines for joint promotions targeting travelers
- Identify and host live entertainment or cultural events to draw in transient traffic
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
