Since 2015, inquiries into our services from the NYC and surrounding markets have doubled. This is no surprise considering the market has been challenged with increased supply/competition. The hotel partners who have reached out are facing decreases across the board in occupancy and ADR. The partnership we are highlighting today posed an even more unique situation however, as this property is an extended stay, apartment style property with minimum length of stay requirements of 30 nights or more.
Through a detailed review of their last project with us, identifying strengths & weaknesses, and a round table with our leadership team, we were able to identify several company departments, and overall industries that would be key to target, as they are known to have extended stay needs. These included: construction, consulting & temporary staffing services, and new store/location openings.
Utilizing one of our newest resources, with access to thousands of new construction/project lists, we were able to identify 980 contacts potentially traveling into the area that the hotel was not currently working with. From there, our team of Researchers conducted qualification calls to learn more about the contact’s hotel needs in the market. Focusing on just a small portion of this list, we were able to uncover 51 total leads, 25 of which were “scope fit” leads level 3-5! These 25 new opportunities totaled a conservative estimate of 4,918 roomnights!
Our team was able to develop additional useful insights from the information we uncovered. We determined that 84% of the 51 leads uncovered Level 1-5 were in the construction/engineering industry, with an additional 10% falling under the professional services category, which includes consulting, legal, etc. An astonishing 58% confirmed that they have had, and expect to have additional extended stay needs in the area. We also confirmed that (as expected) there was not just one key competitor in their market, but a wide variety of hotels across all brands and property types (extended stay, select-service, full-service, etc.), and even town-home rentals that were being utilized for “extended stay” needs. It is also important to note specifically that AirBnB is a viable competitor for this property, but the companies we spoke to were using that option only based on the employee’s preference, and they were a bit more cautious when selecting those options.
These insights solidified the hotel’s need to position themselves correctly with their ideal customers, consistently find and nurture new business before they are commoditized, and build strong relationships & customer loyalty as the industry has a high rate of repeat business.
Plan B Consultants, Inc. provides “done for you” hotel sales solutions in the form of Right Fit Lead® Prospecting, Plan B Activation™, which is our follow-up and nurturing phase of the Right Fit Lead® Process, Plan B Sales Safari™ Sales Blitzes, and our suite of Sales4Hire™ services. To view our full-menu of services CLICK HERE.
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