Why do you want to build a hotel chain?
Maybe you and your family have two or more hotels and you want to put your name on them, or you want to create a brand with your own unique service. The first thing you need to consider with the harshest sense of self examination is—why do you want to?
If it’s about money, you will likely fail. There is always someone with more money and power than you. You need a burning mission to do it.
The hardest part is getting started.
Lots of great ideas never get off the runway, so get started today with the essential 5 Ps of marketing.
- Product. What is my product, and how will I differentiate? You don’t need expensive market research, just ask a few people.
- Positioning. What is unique about it? No matter what you are, you can always create a differentiation, even if your hotels are economy-priced with only singles/doubles and furniture you bought online. Play up your locations. You could be known as the brand with the cleanest economy-priced hotels close to hospitals, courthouses, or city centers. Differentiation is everything!
- Are you low-, medium- or high-priced? Keep it simple, and rather than go cheap for business, add more value such as a “to-go” free breakfast for the road.
- Placement/distribution. You have to use all the major online channels as much as possible so you can be bookable everywhere in the world. Many hoteliers complain about the cost of OTAs like Expedia, but they are your best friends. Nothing is more expensive than an empty room.
- Promotions/marketing. Partner with all local business organizations such as chambers of commerce and convention and visitors bureaus. When nonprofits hold auctions, always donate free rooms and packages at your hotels. Offer rooms whenever there are local emergencies such as when people are displaced by a fire or flood.
- Brand. Keep the name short so people can remember it. Be clear on who and what does your chain stand for? Start with the heart, leverage your friendliness and service, and then add the nice touches. The things you stand for are the things that will be remembered and last forever; trendy colors and furniture will not.
Click here for for article by Tom Magnuson
