Recession survival strategies for hoteliers

Hospitality leaders must adjust to new business, leisure travel patterns

Jan 11, 2023

If consumers begin to put off vacation plans, hotel owners could be faced with continued rising costs at the same time demand falls. Hoteliers need to start planning for a potential downturn now.

Key takeaways

  • While cutting operating costs is imperative to surviving a potential slowdown, be selective when evaluating your marketing budget for cost savings opportunities;
  • Cross-selling and upselling can increase profitability at a minimal cost and increase guest satisfaction;
  • Leveraging technology that optimizes operations and reduces costs to drive revenue and long-term growth can maximize productivity and increase customer loyalty.

Get the full story at Hotel News Now

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