The 12 Step Plan - Step 4, Define your Property and Identify your Primary Market Segment
Step 4. Define your Property and Identify your Primary Market Segment:
Defining your property type and primary market segment will help guide you to areas that you need to spend more time on during the property management system evaluation process.
- A resort hotel compared to a city hotel would differ considerably in their primary market segment. The city hotel has a primary market segment of corporate and a resort hotel has a primary market segment of leisure.
- A hotel located close to a highway would likely get a lot of transient guests where a hotel in a city business centre would get a large percentage of guests that are traveling on business.
- A resort hotel may have the need to print vouchers for activities or perhaps ski passes.
- A boutique hotel may rely heavily on guest history to identify and acknowledge return guests.
- A convention hotel may rely heavily on the groups module within the property management system.
- An extended stay hotel may have the need to post monthly room charges as opposed to daily room charges.
Property Types:
- City Hotel
- Resort Hotel
- Boutique Hotel
- Property Management - Extended Stay Accommodation
- Bed and Breakfast
Market Segments:
- Corporate.....- Business
- Group............- Weddings/Events/Sports Teams
- Leisure..........- Vacationers
- Discount........- AAA/CAA Members and Other
- Government..- Government Employees
- Wholesalers..- Business from Tour Companies
Service Offerings:
- Full Service Hotel – offering a wide variety of amenities for your guests such as restaurant, room service and banquet facilities.
- Medium Service Hotel – May have a coffee shop, meeting facilities.
- Limited Service Hotel – No Restaurant or banquet facilities, may offer continental breakfast.
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