Major events across the globe—from the Olympics to the World Cup to the Super Bowl—provide area hoteliers unique opportunities to capitalize on increased demand and maximize revenue with huge potential rewards. However, if not planned and executed well, hotels may risk displacing existing loyal guests, and flawed pricing strategies could lead to a half-empty hotel and high rates of noshows.
To properly prepare for a major event, hoteliers need to consider a variety of factors, including effective marketing and sales strategies, pricing, and forecasting as well as booking policies and restrictions. To provide guidance to hoteliers on how to plan strategically and maximize revenues when the big game comes to town, IDeaS conducted the following analysis and arrived at these findings and recommendations
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