Industry: HospitalityLocation: United Kingdom
Background:
The client is a hospitality company managing several boutique hotels around the UK and Europe. They provide accommodation and facility services to people travelling for leisure purposes.
The management cited seasonal revenue generation as a key challenge and expressed longer-term concerns about the changing hospitality environment.
The business was in need of innovative solutions, and existing processes needed streamlining. In addition, uneven revenues reflected fluctuations in seasonal demand, while COVID-19 has adversely impacted the sector at large.
Our consultants identified several main challenges and analysed the current market condition and the main drivers in the customer acquisition process.
BRIDCON’s approach focused on customised offers, getting the hotels listed on leading hospitality platforms, rebranding and a new digital marketing strategy. We implemented these changes over a 15 months period, dividing the process up into four key phases:
- Initiation: Competition and market analyses, feasibility studies and risk assessments were conducted.
- Planning: We then moved to source and distributed resources, mapping out the company journey. At this stage, we involved key stakeholders in various acquisition processes.
- Implementation: Our marketing strategy, which included implementing offers to match client purchase behaviour, was put into effect. Based on our accomplishments at this stage in the project, the client requested an extension in the scope of work to include creating new revenue streams. As a result, we facilitated access for B2B, corporate functions and community events in the Food and Beverage sector. These extra revenue streams used existing resources to maximise profits.
- Closure: in this stage, BRIDCON’s consultants moved to a supervisory and advisory role as we approached handover.
With our consultants implementing new revenue streams for the client, profits increased by 30%. The hotel occupancy rate throughout the year was stabilised at 70% month-to-month, while brand awareness and CSR involvement improved dramatically.