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How to prepare for the 2024 season and maximise revenue

Publication date: March 2024

Summer, which coincides with the high season for many destinations in Italy and Europe, is almost upon us, and the time has come for seasonal properties to start preparing as much as they can. Here are our recommendations for maximising revenue and achieving your turnover goals.

Analyse 2023 performance to identify strengths and areas for improvement

The first step in improving your performance is definitely to study your previous year’s performance in detail, paying particular attention to any margins for periods of higher or lower demand.
While it is possible to boost average earnings during the high season by betting on a higher rate, this is not recommended in off-season periods, when you need to focus on increasing your occupation rate. Bearing in mind that each year is different, a careful analysis of 2023 will therefore provide excellent insights into rate management at various times of the season.

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Study seasonality changes and strategies for maximising low-season revenue

In recent years, we have seen a gradual change in the high season, with ever higher temperatures and longer summers, characterised by mild and sunny days until late September. The extension of the high season, which is happening in more and more destinations, is, therefore, a factor to be taken into account and can be used to increase profit even in months which have previously been less profitable. One strategy, for example, is to incentivise travellers who want to take advantage of the tail-end of summer to enjoy the last of the heat with last-minute offers. Low-season months can be taken advantage of by operating in different market segments. Depending on your property’s facilities you can target corporate groups or particular categories that are not tied to the classic school and work calendar such as seasonal workers, pensioners or foreign customers whose holidays are not always the same as those in other countries.

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Diversify your property's offer and incentivise the low season with special offers and packages

Also with a view to increasing revenue during the low season, you can do several things to make the property appealing all year round. If your hotel has a spa or a restaurant, you can create special packages with an overnight stay and wellness package or an overnight stay and dinner, taking advantage of occasions such as Valentine’s Day or Mother’s Day. We also recommend that you consider selling these services regardless of a room booking so that you can broaden your audience to include users in the local area. Another suggestion is to monitor local events that could bring visitors to the destination even well into the off-peak season. So, find out about any concerts, cultural events, fairs and sports competitions that attract a large number of participants and visitors. In this case, you can not only offer special discounts, but you can get involved by contacting the event organisers to be listed as a partner or recommended venue.

Provide flexibility for online bookings

When booking a trip online, especially well in advance, one of the most frequent fears guests have is that they may have to cancel their trip due to various types of unforeseen circumstances. Enabling flexible cancellation policies and giving guests the ability to protect themselves in case they can’t go away is an increasingly important tool. This strategy allows you to secure a large number of pre-bookings while increasing the online visibility of your property, especially on comparison and OTA sites where flexible cancellation is one of the most popular filters. It should be noted that by adopting a well-thought-out distribution strategy that combines different types of offers your hotel avoids running the risk of losing revenue in the event of last-minute cancellations

Conduct marketing activities to promote your property

The last piece of advice to prepare for the 2024 summer season is actually now a real must-have for property offering accommodation. In an increasingly digital world, a strong communication strategy, both online and offline, is essential. The best way to maximise your advertising investment is to use a team of experts to improve your brand's online positioning and maximise conversions through advertising campaigns designed to identify users at the earliest point of booking.

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Want to prepare your property for the summer season?