This article will explain how housing can create multiple new revenue streams.
Room block management provides many benefits for event organizers. It allows planners to control their room blocks, it provides a central place to store data helping to prove the value of events, and it streamlines the booking process for attendees. One aspect that is vital, but often overlooked, is the ability to increase event revenue with event accommodation management.
Let’s start with the basics to making money with room block management and then we will explain how using housing software can capitalize a monetary gain.
Step one of room block management is securing hotel contracts. You need a hotel to house your guests, and the hotel needs you to meet their business objectives. The following should be negotiated in all hotel contracts:
Room block management software is vital for increasing bookings inside the block. After reviewing the basics, you know that every additional room night booked inside the block can increase commissions, rebates, concessions, and/or lower attrition risk.
Apply the following tactics to increase pick up and boost overall revenue.
In addition to increasing bookings inside the block, here are four other ways that you can create revenue with event housing software.