Managing room blocks effectively is one of the most critical aspects of successful event housing. Ensuring that attendees book within your designated room blocks is essential to optimize inventory and secure revenue. Below, we share key takeaways from a recent strategy session at our user conference, the Unconvention, focused on how to maximize room block pickup. These actionable tips are designed to help housing managers refine their approach and get the most out of their event housing efforts.
The key to managing room blocks efficiently lies in combining strategic techniques with a deep understanding of how your housing platform works. By utilizing both traditional and innovative approaches, housing managers can significantly improve their pickup rates and overall event performance.
Here are some essential strategies to maximize room block pickup:
1. Leverage Software Features for Better Pickup
Many housing managers overlook the powerful features built into their event housing software. Using these tools strategically can directly impact the success of your room blocks. Here are some critical features you should consider:
- Hotel Sort on Front End: Adjust the order in which hotels appear to guests. If you have less popular properties, consider placing them higher on the list to encourage bookings, or push preferred properties based on your specific strategy.
- Enable and Disable Hotels: These settings allow you to guide guests toward certain properties, helping balance occupancy and fill your various room blocks. For example, if you meet attrition at certain properties, you can remove them from the booking page to encourage guests to book at the remaining hotels.
- Custom Hotel Amenities: Highlight unique amenities that might make less desirable hotels more attractive. For example, some properties might offer free breakfast, parking, or shuttle services—make sure these details are front and center.
- Booking Page: Ensure your booking page is simple, visually appealing, and easy to navigate. Important policies can be outlined in the Room Reservation Agreement (RRA) instead of cluttering the main page, so guests can quickly find the information they need without feeling overwhelmed.
Accurate hotel descriptions and high-quality images are crucial in swaying guest decisions. No one wants to book at a property that looks less appealing—present your options professionally!
2. Incentivize Guests to Book Within the Block
Incentive programs can be a game-changer when it comes to filling room blocks. Offering perks not only adds value for your attendees but also encourages them to stay within your designated blocks:
- Stay to Win: Create a sense of excitement by offering prizes like room upgrades, gift cards, or exclusive event experiences for guests who book within the block. This helps drive early bookings and build momentum.
- Stay to Save: Provide discount codes, coupons, or even discounted event-related fees to entice attendees to book rooms in your block. Offering tangible savings or perks will encourage guests to choose your preferred hotels.
Incentives are not just about giveaways; they enhance the attendee experience and encourage loyalty, ensuring they stay within your block.
3. Use Reporting and Analytics to Your Advantage
The insights gained from detailed reporting can shape your room block strategy and help you make data-driven decisions. Here are some key reports to consider:
- Year-over-Year Comparisons: This report helps you understand how your current event pickup compares to past event pickup, allowing you to identify trends and potential areas for improvement.
- Pace Reports: These track how quickly rooms are being booked, helping you adjust your marketing efforts or inventory allocation in real-time.
- Pickup by Day and by Hotel: This report breaks down the booking activity across different hotels and dates, giving you a clearer picture of what’s working and what isn’t.
Scheduling these reports can save you time and ensure you stay on top of booking trends, giving you the information needed to tweak your strategy when necessary.
4. Implement Smart Payment and Cancellation Policies
Payment and cancellation policies play a significant role in reducing last-minute room drops and encouraging responsible booking behavior. Consider these strategies:
- Cancellation Charges: Introduce a small, reasonable cancellation fee (such as $10.00) to discourage last-minute cancellations and overbooking. This practice is similar to what platforms like Airbnb and VRBO use to prevent guests from backing out too close to the check-in date.
- Payment Policies: Establishing clear payment terms will encourage guests to commit to their reservations. Being transparent about these policies helps build trust and reduces the likelihood of no-shows or cancellations. This could include booking fees, late cancellation penalties, or no-show penalties.
With fair but firm policies, you can better manage guest behavior and minimize the risk of inventory loss due to last-minute changes.
5. Manage Inventory Strategically
Strategic inventory management is key to maximizing room block pickup. Here are a few tried-and-true methods:
- Held Inventory: Hold-back room inventory for VIPs or late registrants. There are always a few! Release any unused held inventory strategically to optimize your block pick-up. Assign to wait-list reservations, upgrade guests, or release them back to the general public.
- Post-Cut-Off Inventory: Create pseudo-reservations under your name to manage your remaining inventory after the hotel cut-off date. This ensures you retain control over your inventory and can adjust as needed. Tip: Ensure you cancel these prior to the hotel’s cancellation policy coming into effect.
- Historical Data: Use historical data to inform inventory decisions. By looking at previous events and using data-driven insights, you can more accurately allocate rooms and avoid overcommitting or underbooking.
Conclusion
Maximizing room block pickup is all about leveraging the tools and strategies available to you, from system features and incentives to effective reporting and smart policies. By optimizing how you manage your inventory and understanding guest behavior, you can ensure a successful and profitable event housing experience.
Meetingmax offers the perfect solution to help you manage these elements seamlessly. Our software is designed to empower housing managers with the tools they need to drive room block performance while enhancing the attendee experience.
Ready to take your room block management to the next level? Book a demo with Meetingmax today and discover how our system can make event housing easier and more efficient!