TrustYou’s recent analysis reveals crucial findings, supporting hotels in their efforts to cope with a huge demand during the Olympic frenzy. Below, we highlight pivotal aspects of our research centered around Olympic hotel strategy, aimed at steering hoteliers towards success during these global events. We look at two major events with full audiences: Rio 2016 and Paris 2024 and compare key guest satisfaction indicators.
The Preparation Phase
In a landscape as competitive and dynamic as the hospitality industry, the Olympic Games present a monumental opportunity for hotels to shine.
Shifts in Pricing Strategy Are Imperative
Hotels near the Olympics can anticipate a significant spike in demand, which will be reflected in their pricing strategy. However, a fine line exists between capitalizing on increased demand and pricing out potential guests. The insights suggest a flexible pricing model that adjusts in real time to occupancy rates and competitive pricing can help hotels maximize their revenue without deterring guests.
The High Stakes of Guest Satisfaction
Perhaps unsurprisingly, keeping guests happy during worldwide events is in itself a hospitality Olympics. The influx of international visitors with high expectations presents both a challenge and an opportunity. Our report underlines the need for hotels to have a robust plan to maintain guest satisfaction during peak times.
To understand how a major event like the Olympics impacts guest satisfaction, we looked at the last edition of the Olympics with a full audience — Rio 2016. We analyzed more than 892k reviews from Brazil to understand how guests rated hotels before, after, and during the Olympics.
Responding to Reviews: More Critical Than Ever
In the high-octane period of the Olympics, hotels might deprioritize responding to online reviews due to time constraints. Yet, our findings indicate that engagement with guest feedback during the Olympics is crucial. A quick, thoughtful response to a review can mitigate any negative impressions and showcase the hotel’s commitment to guest satisfaction. This strategy is particularly effective in maintaining a hotel’s online reputation amid a bustling Olympic schedule.
Our Business Development Manager, Thibaut MATHON, tells us why using a response generator tool is important to allow you to save time, improve online reputation, and focus more on the guests’ experience.
The insights gathered from TrustYou’s analysis empower hoteliers with the know-how to navigate the complexities of Olympic hotel strategy. From adjusting pricing mechanisms to enhancing guest experience and leveraging reviews, the opportunity to excel during and after the Olympics is vast.
Delving into the entirety of our report is essential for hoteliers eager to transform these insights into actionable strategies. Explore the full report to gain a comprehensive understanding of how to optimize your hotel’s operations and reputation for the Olympic Games and beyond.
As we look towards the 2024 Paris Olympics, we are committed to monitoring the evolution of guest satisfaction closely. TrustYou understands the importance of current, detailed data to inform the strategies of hoteliers worldwide. We intend to update our analysis with fresh insights from the upcoming games. Keep an eye on this blog for updated content that will incorporate new findings and highlight emerging trends in the ever-evolving landscape of Olympic hospitality management.
