Hello we are The Atypical Hustlers. We are going to take a dive into the world of being a hotelier or Air BNB host and give some awesome tips on adding revenue streams to your business.
Events, Vending, and Guest laundry are a few common ways to have extra revenue at your property. We will be covering revenue streams for a variety of different properties whether you have a couch on AirBNB or a high rise hotel downtown.
Little Space & Money To Implement
The first of these is an email offer to increase reservation length. Once the guest books they will receive an email asking if they would like to increase their length of stay at a discounted rate. Another option is to pay for early or late check-in or check-out times. Personally this is not one of our practices, we pride ourselves in having a 2 pm check-out at the Sleep More Lodge. However this is a great option especially for AirBNB’s or an event center nearby. Offering special packages through your local flower or gift shop where you can offer the guest a customizable experience whether its a honeymoon, anniversary, getaway or a package specifically designed for your area. These strategies come with little to no overhead and can be implemented almost instantly.
Other things to do with little space can include guest laundry and laundry service. You can work with a local dry cleaner if your equipment or staff is limited. You can also have Vending machines. There is multiple options for vending. You can own the machines or have them leased by an outside entity. Mini Bars or pre stocked fridges in the rooms or concessions in a common area are other ways to drive revenue.
You can outfit your rooms with local art. Sometimes this can even be for free. And you can sell the decor and art out of your rooms for a commission from the artist or gallery. Promo codes for things such as Uber, Lyft, Grubhub, Uber Eats, and AirBNB partners are other ways for income. Our codes and affiliate links are on our affiliate link page. But also a way that your guest has a great experience with discounts.
Charging for advertising by billboard, key cards, and website packages is a good way to make a little extra on the side. Another fun thing to do is to have an additional tv in your common areas with a slide show of advertisements cycling through.
Good Sales Strategy
One is networking with other businesses for discounts, referrals, and commissions. Another is company packages where your company works directly with another business where a guest pays a package price and gets discounted on their room stay and their experience. Examples of this could be a hunting expedition, fishing trip, or a historical or ghost tour.
You can also book corporate clients and work with them for contracts for special rates, events, conferences, and training seminars. There are many other revenue streams that have larger overhead and upfront costs. These are game rooms, room service, hair salons, bars, spas, and restaurants.
Other Amenities To Drive Rates
These amenities include, swimming pools, shuttles, continental breakfast, courtesy cars, and even coupon packages.
High Rise Hotels
For those of you that have a high rise hotel in your back pocket. Here’s some revenue driving streams of income that doesn’t typically pertain to the smaller properties. Charging for parking, rental cars, and even renting out your roof space for a cell tower are few ideas. Another idea is leasing out a billboard on the side of your building.
Thanks For Coming By
We hope you found this informative! Comment below and let us know your strategies. Find this article helpful for deciding if a Motel is the best for you?