What is the definition of Hotel Market Segments in the hotel industry?
Not all consumers are the same. Although, of course, all guests must accept the same high set of service at a hotel or other kind of skill within the Hospitality Segment, there are absolutely different types of consumers. And provide them a hospitality skill that completely meets their exacting type and exact needs is the key to a providing an pleasant hotel stay, where agreement is virtually guaranteed.
So, how can this separation in customer types be finest organized? The answer is to plan a system of segments, known in Hospitality as Market Segments.
Market segments can be:
Just as there can be:
- Multi-variable report segmentation, and
- Segmentation by profit!
Once segmentation is attained, segment-specific services and activities can be prepared, helping to offer customers with a customized hotel practice whilst at the same time contributing towards a hotel’s revenue maximization.
Other segments can be:
- Negotiated Rates
- Groups, and