3 Steps to Mastering the Tricks of the Trade(show)

An exhibitors guide to maximizing your ROI at your next tradeshow

Tradeshows can be a quite a shock to the uninitiated, the steep learning curve that comes along with attending any show is also paired by large expenses to your time and money. Yes it goes without saying that tradeshows can be risky business. But if you do manage to go in with a plan and see it through to the very end, you're looking at huge returns to your investment in the form of new business. Here are HD's 3 steps to ensuring that you understand the tricks of the trade...show.   

Step 1: Pre-show planning

They say planning is everything, well this is twice as relevant when it comes to tradeshows. Anyone with tradeshow experience will tell you that you need to know which where you're going to go during the event. To take that a step further you need to prioritize your time at the show, which will ensure that you make the most of your experience. Check the maps and make a route of where you're going to be and when. In a sea of different people coming from all over the globe, everybody is after the same thing, business.

Know what you want to achieve when you're visiting the show. Is there a certain business attending the tradeshow that you want to get in touch with? Know your top hot spots and plan accordingly. If your company is sending you, understand what your boss wants you to achieve by attending the show. To make this easier, make a grid to track and help narrow down potential partners you'd like to have a more in depth discussion with and why.

After you've scoped which booths you'll be making your rounds to, know what information you need to have from each one. Research the different vendors to find out what sets them apart and what is most important to you and your business. Then plan intelligent questions to ask them. 

Step 2: During - Network

The opportunity to network is exactly why you've spent so much money to get here in the first place, so make the most of it. There's absolutely no chance that you're to get to speak with every single exhibitor at the tradeshow. In order to cover more ground, split sessions with your colleagues to maximize data gathering and networking.

If you're planning attending some of the different workshops, introduce yourself to people around you - hand out and collect business cards like there's no tomorrow. When mealtime comes around, hook up with these new contacts for more information on their products and services. It's also important to track your progress through the day(s), so write a trip report as you go along and summarize your notes every evening. 

Step 3: Post-show evaluation

When it's all said and done, how did the tradeshow end up for your business? Identify if the objectives you set out to meet were met and if the cost of attending the trade show has had a positive long-term effect for you and for your business. Evaluate if you had not attended the trade show, what would have been the cost and time to achieve the same amount of business? If you planned your attack, you will be confident in knowing the time you have spent at the show was worthwhile.

Once you've sat down and had a good look how the tradeshow went, plan how you are going to implement information gathered. Be sure to expect a lot calls from all of the people you managed to connect with, and be prepared to follow-up after the show for literature and sample requests.

Now that you understand how to operate at a tradeshow, the only thing left to do is attend one yourself. Exhibiting or even attending a tradeshow is a skill, nobody starts off an expert, it takes hands on experience to really master the tricks of the trade...show.

Inside the Eye of an Interior Designer

According to Martin Soler, COO of WHIP, a hotel marketing agency, the design of your space makes up at least 40% of a hotel’s marketing value. [1] High-quality interiors not only fill rooms, but they also fetch a higher average daily rate.[2]

But before you drop a chunk of change at the local furniture supplier, here’s why you should do it right and invest in the services of an interior designer. 

Form and function
Interior design is about much more than the proper placement of throw pillows and the coordination of paint colours. As Theresa Cleary, an interior designer at Hospitality Designs, explains, designers enhance not only the attractiveness, but also the function, of your hotel.

“We are trained to understand all the fundamental elements of how the interior operates and how it affects the end user,” she says.

Guests with disabilities, for example, require different design elements. “There are hotel bedrooms dedicated to persons with disabilities,” says Cleary, “but how will they get from the front door?”

Your designer will have an understanding of building code and of the way disabled guests will use and navigate through your space.

Balancing act
You have a sense of what would be appropriate for your location and target market. An interior designer can take your vision and help you achieve it within your budget and on time.  And they do this while satisfying the requirements of your franchise, which, according to Cleary, can be tricky.

“We often span between a client’s great idea and knowing that their franchise won’t approve it,” she says.

Interior designers liaise between you and your franchise, ensuring that all parties are on the same page about the end result. They also connect with your team of consultants, architects and engineers, to ensure proper design implementation.

Choosing a designer
How will you know which designer is right for you? Cleary stresses the importance of researching qualifications and whether the designer has done projects on the scale that you need.

“Ask for success stories,” she suggests. “If the designer has worked on a similar project, how did it run from start to finish? What were some of the challenges they faced, and how did they overcome them?”

To make sure you’re on the same wavelength about timelines, Cleary of Hospitality Designs says, ask the designer for a delivery schedule—just don’t forget to account for the time it takes to get franchise approval.

Whether you’re undertaking a major remodeling, or looking to make smaller improvements to the look, feel, and usability of your space, having the expertise of an interior designer on your side is essential.

 

 

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[1] http://www.hotelmarketingstrategies.com/hotel-design-marketing-adr-7101/

[2] http://www.hotelmarketingstrategies.com/hotel-design-marketing-adr-7101/

Get More Out Of Your Hotel Marketing Team

Your sales and marketing team works diligently on bringing business to your hotel. But what if you’re not seeing the RevPAR (revenue per available room) that you need?

Check that your team is actively researching the competition and leveraging the results in profitable ways. Here are some tips on how to make the most of the information out there.

Know your competitive set

Identify your competitors. Which of the hotels in your area are you competing with over the same sources of demand? Consider factors such as location, quality, and average daily rate.[1]

Evaluate your competitors

Once you’ve identified your primary competitors, perform a SWOT test (strengths, weaknesses, opportunities, and threats) on them.

David M. Brudney, a hospitality marketing consultant based in Carlsbad, California, explains that when done correctly, a SWOT test will “expose weaknesses and vulnerabilities that can be invaluable when bidding against competitors.”

He suggests using a professional shopping service to help evaluate other sales managers’ strengths, weaknesses, and negotiating skills.

Inform your pricing strategies

Reducing rates drastically to fill rooms—called “sacrificing rate”—is one of the worst mistakes a hotel can make when it comes to trying to increase occupancy, says Brudney.

A far better pricing strategy is, if you are aware that you and a competitor often bid for the same pieces of business, to research their pricing strategies and availability.

One way to achieve this, says Brudney, is to call the other hotel purporting to be a meeting planner and ask about room rates over various dates.

“If you know the other hotel in question is likely to be full over those dates…you can be more hard-nosed about quoting a higher rate as chances are the other hotel…may not even bid on that piece of business because they will no doubt run full.”

Encourage and empower your team

The best way to motivate your sales and marketing team to incorporate competition research into their work is to lead by example, says Brudney.

He recommends demonstrating how research is done, pointing out best practices, and, of course, highlighting the positive results that come from leveraging what you know about your competition.

Hire an expert

Most competition research can be done internally, and often hotel brands can offer support. But if you’re suffering from a lack of internal expertise and resources, it may be time to hire a consultant.

The advantage of having a good hotel marketing consultant working for you, says Brudney, is that they know the standard of care.

“In my role as a consultant…I bring a wealth of knowledge –including sales and marketing best practices, tips on improving performance…motivating and mentoring sales teams—as a result of my years in the business.”

Brudney advises managers to be diligent in vetting consultants, suggesting that they check for solid references, examples of previous work, and ROI (returns on investment) for their previous clients.

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[1] HVS, “How to Identify a Hotel Competitive Set for a Hotel Market Study,” Canadian Monthly Lodging Outlook, October 2012.

3D Renderings of Your Hotel Rooms

This is not a real room, it is a 3D rendered version of a hotel bathroom which our in-house 3D specialist created.  It's amazing what he can do.  If you would like to see the design of your hotel room before you make a decorating decision then come see us at Hospitality Designs and we can create a free quote and show you 3D renderings of your hotel room before you decide.

Hotel Renovation Loans

Now that we’re out of the recession, hotels are feeling pressure from parent companies to stay competitive by undergoing renovations.

But with the economy still in a slump, where are owners getting the money?

In rare cases, companies themselves provide assistance. Choice Hotels International recently announced a $40 million property improvement incentive program for Comfort Inns and Comfort Suites in the US.

Funds are awarded through a forgivable promissory note and cover up to 50% of the cost of eligible items such as carpet, furniture, and mattresses. According to Mike Varner, senior director of brand strategy at Choice, around 900 hotels have expressed interest so far.

Those unable to take advantage of company renovation incentives have to rely on financing from lenders.

Although the lending climate remains cautious, Shawn Turner, finance editor at HotelNewsNow.com, believes “things are moving in the right direction.”

Turner pointed to Wells Fargo as one of the most active lenders, citing their strong hospitality lending program. He also suggested that hotels look beyond banks for their financing.

“Life insurance companies are often more willing to look at construction financing and riskier loans,” said Turner.

Some hotels may be eligible for the Small Business Administration (SBA) loan program, which help to mitigate lender risk.

The SBA 7(a) has a limit of $5 million and covers everything from working capital to fixed assets. Funding comes from a lender, with the SBA acting as a guarantor for up to 85% of the loan.

For owners looking to finance fixed assets only, the SBA 504 has the advantage of distributing the loan among three partners: the borrower (10%), the lender (50%), and a government-backed Certified Development Corporation (40% up to a maximum of $5 million).

Those willing to invest in energy-saving projects may be eligible for an extra $0.5 million. Charlie Patel is the operating manager of a Comfort Suites that is being redone into a Four Points by Sheraton in Newark, DE. When his conventional SBA 504 loan fell through in 2011, Patel turned to the 504 “green loan”.

 “We ended up redesigning many areas—laundry, elevators, backup generators—to meet and exceed guidelines,” he said.

Although the green projects may cost slightly more upfront, Patel believes that it makes sense on an operational level.

“Switching to LED fixtures has a payback in less than three years. That’s cashflow to help you cut back on costs.”

If you are looking into renovating your hotel get a free quote at www.hospitalitydesigns.com.

The Impact of Energy Costs on your Hotel's ROI

At the end of the day, the most important focus for a hotel manager and/or owner is overall ROI and profitability.  A profitable hotel is not only a secure investment at the time, but it also means the hotel is more valuable and desirable at the time of resale.  There are many ways to increase your ROI, which can be discussed in full length, but a great way to do this is by reducing your energy costs.  Simply put, reducing your energy costs will increase your profits, lower your expenses, and can significantly impact your CAP rate.

"As technology becomes more prevalent and cost-effective, we can, for as little as $90 employ a complete guest room stand-alone energy management system which will literally save between 25-35% of the wasted HVAC energy," says Belson of his company's Energex management system.  It takes 30 to 40 minutes to install their system in a typical guest room, up to an hour for suites.  Installing an occupancy-based energy management system should be a top priority when approaching energy management, says Belson. It could be as simple as adding an occupancy sensor and a controller.

For hoteliers looking for the latest trends, Jeremy Baker, a lighting specialist at Lightology, recommends Edge Lighting'sLED Soft Strip, a strip of 1 watt or 3 watts per foot LED lighting application with a 40,000 hour lifespan.  Switching to products that use less energy may make your business eligible for incentives or rebates. In Ontario, Canada, for example, hoteliers can contactsaveOnEnergy through their business stream to see what incentives they can received, which is based on the amount of energy saved. In the United States, tax incentives are available through the U.S. Department of Energy.

Quick Energy Saving Tips:

• Make sure leaks are sealed and insulation is up-to -date.
• Explore opportunities to use motion sensor applications in the parking garage, stairwells, vacant rooms, or anywhere there is not consistent traffic.
• Gain more control of the heating and cooling of guest rooms, these account for 75 percent of the total energy used in a room.  Nearly 50 percent of a hotel's overall energy budget would benefit from HVAC (heating, ventilation, and air conditioning) controls such as an occupancy sensors, says Rami Belson, CEO of Energex Inc, Maximize the use of occupancy sensors and controls; they should be placed in meeting spaces, laundry rooms or any room with inconsistent comings and goings of people.·        
• Look for low wattage products because they use less electricity, whereas low voltage products are good for covering long distances but do not save on electricity.  Two energy efficient options for lighting are fluorescent and LED lighting. "[LED] bulbs are designed to last 30,000 to 50,000 hours. So if they were on eight hours a day that would be 10 or 11 years that you are not replacing LEDs and they don't burn out," says Jeremy Baker, a lighting specialist at Lightology.·         Educate the staff, personnel, and guests on how much energy is used when a shower is taken, when a TV is left on or when lights are left on.  Perhaps make up a sign in each room to remind guests and staff to turn the lights off before leaving the hotel room.
• Cluster room bookings so energy can be concentrated in certain areas
• Install low-flow shower heads
• Keep pools and hot tubs covered to preserve heat.

"It's difficult to reduce staff costs and you can't do anything with taxes but you have all sorts of opportunities to reduce energy consumption," says Andrew Pride, VP of Conservation at Ontario Power Authority.
Focusing on ways to easily reduce your long term energy expenses will save you money and increase the profitability of your hotel. Investing a few thousand dollars today can save you hundreds of thousands of dollars….doesn’t that sound like a good investment?

Hospitality Designs
www.hospitalitydesigns.com

New Years Resolutions That Spell Success For Your Hotel

Who says New Years Resolutions are only for individuals? You can start resolutions for your hotel that will translate to greater success. Here are some resolutions we have gathered from experts in the field to get your own ideas going.

1) Increase occupancy and rates. 
While Canada and the US have seen occupancy rates increase this year, increasing occupancy should continue to be a goal. This can be done by "increasing marketing and sales efforts," says Joe McInerney, President/CEO of American Hotel & Lodging Association (AHLA).

Part of this effort to increase occupancy and rates should include developing business and marketing plans, says McInerney. He suggests hiring an additional salesperson or a marketing manager and indicate which distribution channels to increase or decrease. AHLA indicated the top three methods of online distribution are search, social media and mobile.  

Hoteliers should aim to increase their rating on travel sites such as Expedia and TripAdvisor and reputable rating systems such as Forbes and AAA. There are two aspects to focus on to improve ratings: mass social media presence and customer service. An article on Milestone Internet Marketing Inc., suggests "adding links to read and write reviews for Google, Tripadvisor and Yelp to encourage guests to leave reviews on these channels."

Forbes and AAA clearly indicate how their ratings are performed. For example, for Forbes there is a facility inspection and a service evaluation, both of which are unscheduled visits by their trained facility inspector. For AAA there is an application process and a list of requirements clearly indicated in their guidelines such as having the correct items in a guest room, required signage in the hotel, and be thoroughly cleaned facility.
                                                                                                                                                         
2) Increase customer service 
Increasing your use of Facebook, Twitter, LinkedIn can expose your hotel brand to more potential guests and reinforce your relationship with previous customers.

"In today's agencies or any size of hotel you need somebody to specialize in social media,"says McInerney. Use social media tools to inform your customers about promotions, advertisements or provide updates on the hotel.  Identifying and recognizing loyal and repeat customers is important and can develop stronger bonds with your guests. Some hotels use a Guest Recognition and Reward Program which, according to ICLP marketing agency, is a way to "stimulate guest loyalty."  Try setting up a point system so customers can earn points for free night stays, meal vouchers or free parking.

Show your guests you appreciate their business by also including extra details such as leaving fruit or chocolate in their room or providing extra customer services for these guests to make it easier to book a room at your hotel.

Another way to improve customer service is to increase service protocols by increasing training, says McInerney.  All employees of the hotel should know the importance and the value of every customer and should provide them with the best experience possible, every single time.
 
3) Focus on your employees: increase recruitment, orientation, and training programs 
It can be difficult to find good employees in the hotel industry so start at the beginning. Improve your current existing recruitment program. Start in colleges and universities, says Tony Elenis, President and CEO of the Ontario Restaurant, Hotel & Motel Association.

Recruit employees who have good team work skills, adds Elenis. "If they don't have teamwork in place no matter what you do there's going to be conflict."

Create an orientation program so new staff is prepared immediately and implement a training program to reinforce and add more skills to the workforce.  The American Hotel & Lodging Educational Institute offers numerous programs such as certification programs, guest service, housekeeping and front office training. 

At the end of the day the business is about customer satisfaction. This includes training any worker that will have contact with guests such as housekeeping and kitchen staff, says McInerney.

Let these resolutions be the start of a long-term business plan. "Managing hotels has become more sophisticated in the last five years and you need to have a plan and you need to know where you're going," says McInerney.  "And if you're not measuring what you're doing then you will never get anything done."

Hospitality Designs
www.hospitalitydesigns.com