The volume of competitors play a crucial role in determining the success and growth of any business and hotel industry is no exception in this regard. A certain positioning strategy with due consideration of the nearby attractions, easy transportation, low cost service facilities, USP etc. definitely differentiates Henry Jones Art Hotel from the rest. The hotel needs to identify the strengths and opportunities it possesses which needs to be compared against the existing weaknesses and threats. It can run marketing campaigns based on what make the customers choose it over other similar ventures. Here it is to be remembered that pricing must not be the only factor of differentiation and this is why the popular hotel needs to shift its attention on the ratings, service level, availability and accessibility, website appearance, geographical pervasiveness and so on. Offering the customers value for what they are paying is a critical success factor here. Cheaper price is no longer a strategy to pull more visitors. Instead dove-tailored pricing strategy that fits the variegated needs of the customers and justify the price they are paying are essential in engaging more and more customers round the year. At the same time, it should be remembered that a hotel should always stick to the words they are promoting to attract more visitors. Different travellers look different types of packages and deals which must be met through appropriate measures such as spa package, add-on service on direct booking etc. Engaging with customers through various social media platforms and online marketing can also be highly beneficial as distinguished experience influence the competitiveness.
Define your target market
How would you react and what revenue management measure would you put in place the demand is higher than anticipated.