A survey by Agilysys reveals the untapped revenue potential for hoteliers
Agilysys recently released the findings of its 2024 APAC Hospitality Impact Study. The survey of over 1,000 travellers from Australia, Hong Kong, New Zealand, and Singapore unveils critical insights into guest preferences and spending habits, highlighting substantial opportunities for revenue growth in the hospitality sector.
The study reveals that 68% of APAC travellers would increase their hotel spending for personalised experiences, with 73% willing to pay up to 30% more for room upgrades when offered post-booking. Additionally, 66% of respondents would likely spend more if wait times were reduced across all hotel experiences, and 68% would increase spending when a robust loyalty program is in place. Interestingly, the research uncovered a significant “rebooking paradox” in the APAC market: despite high satisfaction levels (86%) and perceived value for money (61%), only 37% of travellers choose to return to hotels they’ve previously enjoyed.
“Our research uncovers a clear message: APAC travellers are willing to spend more for tailored, efficient, and memorable experiences,” said Tony Marshall, VP Managing Director APAC, at Agilysys. “Hotels that fail to offer personalised guest experiences are leaving substantial revenue on the table.”
The study identified several key factors driving increased spending among APAC travellers. Staff interactions play a crucial role, with 46% of respondents valuing staff who go the extra mile, 41% appreciating personalised activity recommendations, and 30% being influenced by staff recalling previous conversations. Personalised touches also significantly impact, as 40% of guests value being given their favourite room, 28% are likely to spend more when restaurant staff remember their preferences and 57% respond positively to small surprises like pillow chocolates.
The 2024 APAC Hospitality Impact Study emphasises the need for a shift from traditional Revenue Per Available Room (RevPAR) metrics to a more holistic Revenue Per Available Guest (RevPAG) approach. This transition allows hotels to capture the full spectrum of guest spending and tailor their offerings accordingly. “To maximise profitability, hoteliers must leverage advanced Property Management Systems that provide real-time, data-driven insights into guest preferences,” Marshall added. “By adopting a RevPAG focus, hotels can unlock hidden revenue streams, enhance guest satisfaction, and foster long-term loyalty in the competitive APAC market.”
This study offers a roadmap for hoteliers to enhance their guest experiences, increase revenue, and stay competitive in the rapidly evolving APAC hospitality landscape.
To access the full report, please visit: https://info.agilysys.com/l/76642/2024-09-16/cp495v