Patrons choose hotels depending on their needs; it doesn’t matter whether this has to do with making certain compromises. As such, some customers put the location of a hotel above everything else. Such customers are always willing to pay a little bit extra as long as the hotel they are paying for is at a location which suits them.
Location is Elementary
Yes, location impacts on the demand for your hotel, and it also determines the price you will charge for your services. Thus, site selection has to be a priority when trying to set up a new hotel at any given time.
The process of site selection requires objectivity and sobriety. With capital already in your hands, it is easy to get carried away with the imagining of how your fresh new hotel will look once it is up and running, but if the location does not work in your favour, meeting your financial projections could be elusive. And failure to meet your economic objectives could plunge your enterprise into all sorts of trouble. So, your hotel will literally fall or stand based on where it is located.
Before you wander into the so-called la-la land, it is essential to know what the end user will want. What is it which will encourage them to book?
- Surrounding offerings: e.g. shops, bars, and restaurants
- Proximity to on-demand areas: e.g. colleges, industrial parks, tourist attractions, and sports venues such as soccer stadia.
- Transportation connectivity: e.g. is it easy for guests to access airports, railways lines or roads?