You’ve decided to start your hotel business. Or maybe you’re looking to move to a new location, or open another one. Whatever the case, location is everything in the hospitality business.
It is essential to do your research and determine what would be the most advantageous location for your business.
Below are some tips and ideas to help you select the best location possible – look forward to marketing tips for your decision making as well.
The 3 Factors That Play Into Every Customer’s Purchase Decision
There are three different types of buyers, or customers, out there, and you can’t please them all. You can only appeal to one type of buyer, or two at most if you’ve really got something going for you.
You’re going to need to figure out who your audience is in order to cater to their likes and needs.
When you understand the following factors, it may become a lot clearer:
- Price. Some buyers want to save money and spend the least possible. Walmart, for example, caters to this type of buyer. Certain hotels appeal to these sensibilities too and make it as cheap as possible for their guests to stay a night.
- Quality. Some customers look for the best quality products available. Quality is sometimes hard to define, as even those who aren’t market leaders sometimes promote themselves as though they are. But Apple might be one example people can relate to – consumers buy their products at a premium (especially compared to PC counterparts) because of the strength of the brand and reputation.
- Convenience. What is fast food if not convenient? Generally, it’s cheaper to buy food at a grocery store and prepare it yourself than it is to eat at a fast food joint. But it’s not as convenient. McDonald’s, Subway, and many others are all brands that cater to instant gratification and convenience.
What type of customer are you catering to? With a clear understanding of who you’re looking to attract, you can better determine a location that’s suitable for your new hotel venture.
Proximity To Landmarks, Tourist Sites & Conference Centers
Is your hotel located next to a landmark? Some people will book a stay at your hotel because they want to see it firsthand, and proximity makes it convenient.
Similarly, if you are situated next to a conference center, you’ll probably see an increase in bookings around events. Advertising with the conference center could help you boost bookings, as well as promoting your location to businesspeople, churches, clubs, and the like.
Proximity to a local gathering place does not guarantee bookings, but it generally is more advantageous to be close to one than not.
Proximity To Other Businesses & Services
Many people enjoy the convenience of being able to walk from their hotel room to the local shopping mall, restaurant, or other amenities. Being close to other businesses is generally an advantage.
But there are several other factors to consider here. You don’t necessarily want to build your hotel right next to a competitor’s. In some cases, it can make sense to do that (i.e. hotel villages), but you need to research the area before committing to a bold move like that.
Another important consideration is accessibility and parking. Keep in mind that it isn’t just your guest who will be using your parking lot – your employees and suppliers will be too. On busy streets, or plots of land where parking could be an issue, this is something you must keep in mind.
The above is a small sample of factors that could play into your decision. Your budget is another major important factor, and you may also need to look at: Local ordinances, foot traffic, utility costs, and so on.
All in all, when we speak about locality, search marketing is one of the most important aspects of your efforts after having chosen a location and solidified your business. Through search engine optimization, search marketing, and local search optimization, you have a higher chance of having an online presence, getting noticed, and receiving business.