Given their varying levels of loyalty, spending habits, and influence on future bookings, not every hotel guest is equally valuable. While hoteliers generally agree it's vital to segregate guests by potential value, each of the General Managers we work with have a different way of defining a guest's Lifetime Value (LTV). Here are a few of those ways that our hotels are determining a guest's LTV, along with a few of the challenges that come with it. Booking Channel. The simplest and easiest way to start segmenting guests is by how they booked. Was it through an OTA? Through the sales team? Directly through the website via a referral? Was it a corporate account? Knowing how a guest booked their room can paint a picture around how involved and loyal that guest will be. Corporate Booking Potential. Total Spend. Social Media Influence. This is an excerpt from "The Data-Driven Hotelier" – a series of interviews we conducted with New York City's leading hotel General Managers. Download the report to learn how you can best leverage data at your hotel.
Specifically amongst larger hotels, many GMs define the value of a guest by the potential corporate business she can bring depending on how big her company is, how often she travels, and how much upsell potential is there.
The most obvious way to determine a guest's importance is by how much he or she spends. While simple in theory, many of our GMs find it a challenge to keep track of this data and "make the connection between the guests that are just staying for a room, and those that interface with F&B outlet, take advantage of our other services, and keep coming back." It would appear that although all of the data is there, isolating the important metrics and linking the reservation to the spend is difficult.
Booking Frequency. Another common method of determining a guest's LTV is repeat bookings. One of our General Managers says he tasks his front office team with "being responsible for recognizing repeat guests and making management aware of it." And then, he says, "Once we've identified a VIP, we're going to make sure they're treated as well as possible. That could mean anything from VIP perks to comped dinners." But as in the case of keeping track of a guest's spend, the GMs we spoke with expressed difficulty in keeping track of all of this information in one place. Specifically, they find it difficult to "figure who is coming back, and why they're coming back here. I wish we had something like Salesforce to give us an idea of where the value lies," one GM says.
Beyond TripAdvisor reviews, many GMs are looking to a guest's social media imprint as a way to anticipate poor reviews before he checks out. One GM we talked with went so far as to consider a guest's social media influence to be the most important factor in determining his or her value to the hotel. In an ideal world, this GM would have "a dashboard that would show all of [his guests'] social media influence to see what they're posting and its impact so that I could assign some kind of value to them. For example, it would allow me to see that a major fashion influencer with 40,000 followers is going to be staying with us, and treat him accordingly."About ALICE
ALICE is the leading all-in-one hospitality operations platform that enables hotel staff to do their most impactful work. Task management, real-time communication, and operational analytics reduce the complexity and chaos of hotel operations providing the transparency and flexibility needed to run efficiently. Founded in 2013, ALICE works with more than 2,500 hotels and tens of thousands of hotel staff across many of the world's leading brands, including Hilton Hotels & Resorts, Graduate Hotels, and Grupo Posadas. ALICE won 7 HotelTechAwards in 2022: winner of Best Concierge Software & Best Housekeeping Software; finalist for its Guest Messaging, Maintenance, and Staff Collaboration Tools; Top 10 People's Choice; and Top 10 Best Places to Work in Hotel Technology for the fifth straight year. https://www.aliceplatform.com/.
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