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REVENUE MANAGEMENT
Lotte New York Palace needed a way to attract new guests while giving past guests a reason to return.
Not yet verified
This case study hasn't been verified by Lotte New York Palace yet
In 2016 Lotte New York Palace partnered with The Guestbook to leverage the Inner Circle Rewards program to increase direct bookings.
Why it matters:
In the competitive New York landscape it was imperative to increase direct bookings and simultaneously decreasing the expensive OTA mix, while creating brand loyalty and recognition.
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Within a year of implementing the Inner Circle program Lotte saw a dramatic shift in direct bookings, which resulted in a significant increase in profitability.
Top 3 Core Objectives:
Explore how Lotte New York Palace leveraged The Guestbook's tools and features by increasing direct bookings and optimizing revenue.
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Digital Strategy: It was crucial to offer cash rewards benefits as a way to compete against hotel chains and OTA's to encourage guests to book direct.
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Continuous Business Growth: Drive sustained revenue growth by leveraging The Guestbook's additional marketing tools and best practices to optimize marketing efforts and attract a diverse range of guests.
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Strengthened Guest Loyalty: Foster lasting relationships with guests through personalized experiences and loyalty rewards, resulting in a high rate of returning guests
The Guestbook
The Guestbook helps independent and boutique hotels drive direct bookings by leveraging the power of cash back rewards and exposure to its nearly 4 million registered members.
4.8
230 REVIEWS
Innovators Mentioned
Lotte New York Palace
The Guestbook
Derek Brewster
The hotelier hasn't yet verified the case study.
Area Director of Revenue Management
Lotte New York Palace
"The Guestbook has increased direct bookings for us over the years. They have always been flexible with custom needs to assist our property and our initiatives. The best part is you always have the support you need from their team. This is a pivotal partnership for us."
Derek Brewster
Area Director of Revenue Management
👍 Area Director of Revenue Management
Derek Brewster
said that The Guestbook has changed the way our guests book and the way we manage our hotel.:
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"The Guestbook has increased direct bookings for us over the years. They have always been flexible with custom needs to assist our property and our initiatives. The best part is you always have the support you need from their team. This is a pivotal partnership for us."
⚖️ The selection process:
During their research process, Derek Brewster
evaluated The Guestbook's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that The Guestbook was the best fit solution:
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Area Director of Revenue Management Derek Brewster said, about their decision: "We selected The Guestbook as a partner due to the way they adapt to support our needs. They truly are invested in our success, and they seek ways to always innovate."
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The results:
Lotte New York Palace noticed an immediate shift in direct business and created long lasting loyalty with returning guests.
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$4.7M Annual Room Revenue Impact
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13k enrolled guests
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13.2X ROI
