How Can Hotels Adapt and Book More Clientele Post-COVID?

COVID-19 has taken a toll on nearly every industry, but few have been impacted as heavily as the hospitality sector. The hotel industry post-COVID-19 is a very different landscape than the pre-COVID scene. So how can a hotel adapt and increase bookings in a post-COVID world?  There are many ways hotels are changing because of COVID, and some of these changes can provide a promising path towards revenue and recovery. Hoteliers should consider the following four tips for attracting guests and establishing a thriving business even in spite of COVID.

Assess the Competition

One of the biggest threats to the hospitality industry — even before the onset of COVID — is the emergence of the home share economy. Sites such as Airbnb often offer cheaper accommodations, but in the post-COVID landscape, many customers are more concerned with safety than with savings. This is a major weak spot in the home share economy. Because these accommodations are often managed by individuals, they rarely match the hygiene standards maintained by a professionally managed hotel. The hospitality industry can capitalize on this and attract guests back from the competition by emphasizing the safety of a hotel stay.

Understand Guest Behavior

Understanding the competition is important, but understanding guests are even more important. For many hotels, business travelers previously comprised a significant portion of guest revenue, but since COVID, many of these professionals are working from home. This shift has created a significant drop in revenue, but it can be recovered if hotels take the time to understand what guests need. While business traveler guests may not return, hotels can create new clientele by shifting marketing efforts to new demographics of travelers.

Streamline and Digitize

One of the biggest effects of COVID was the transition towards digital interactions that it forced. Most major companies began offering products and services contact-free so that customers could order online and never interact with a staff member. Hotels can learn from this and capitalize on it by streamlining and digitizing their processes. Rather than rely on face-to-face guest interactions, hotels should give guests the autonomy to choose the level of contact they’re comfortable with. This includes offering contactless booking and check-in that can be digitally managed.

Invest in Online Marketing

Investing in online marketing is the final step in regaining revenue post-COVID. Guests are spending more time online than ever before, and there’s no better way to attract them than to organically share content that draws them in. Social media platforms are a great way to do this, and social media also allows direct engagement with an audience that can further serve online marketing campaigns. Online marking is an investment, and so is hospitality insurance. Remind your clients that a policy can cover losses from natural disasters as well as other common liabilities facing hotels.

About U.S. Risk 

U.S. Risk, LLC. is a wholesale broker and specialty lines underwriting manager providing a wide range of specialty insurance products and services. Headquartered in Dallas, Texas and operating 16 domestic and international branches, U.S. Risk and its affiliates would like to help you access a world of new markets and products. For more information, contact us today at (800) 232-5830.

The Importance of Employee Health Policies in Hospitality

The Importance of Employee Health Policies in Hospitality

In the hospitality industry, the looming specter of a disease outbreak is ever-present. Restaurants, food service companies, hotels, and cruise lines face many risks, and perhaps the risk with the most potential for negative financial consequences is that of an illness outbreak that affects patrons of the establishment. U.S. Risk Underwriters, a leading insurance broker with tailored specialty insurance programs for the hospitality industry, knows that employers must adopt employee health policies as a critical risk management step. By creating and implementing employee health standards, businesses can protect themselves against disease outbreaks, which can cost thousands or even millions of dollars in unforeseen expenses.

Read more

What Happens When a Restaurant is Linked to a Disease Outbreak?

What Happens When a Restaurant is Linked to a Disease Outbreak?

The restaurant industry is known for unique risks. Predominant among these risks is the possibility of a foodborne illness outbreak. According to the U.S. Centers for Disease Control and Prevention (CDC), about 48 million Americans get sick from a foodborne pathogen each year, resulting in approximately 3000 deaths annually. While not all of these disease outbreaks stem from restaurant services, the effects on the restaurant industry can be devastating. Specialty insurance providers like U.S. Risk Underwriters know that restaurants face significant challenges in the face of a disease outbreak, potentially costing millions of dollars in business interruption, legal claims, and sanitation expenses.

Read more