One of the most lucrative aspects of a hotel business can be your meeting and event space rentals. If you want this to be a significant part of your business, you need to make sure your meeting and event space matches today’s technical standards and the needs of the modern business person or event planner. In this Southeast International Hotel Brokers blog, we’ll elaborate further.
Meetings and Events Can Bring in a Lot of Revenue
Hotels tend to be the go-to place for corporate meetings, and it makes a lot of sense as to why. You can hold your meetings in the same building in which everyone is staying. It’s much more convenient than having to arrange transport around the city just to do business.
Hotel event spaces are useful for the same reason. You can hold your wedding, graduation, fundraiser, or any number of events in a hotel event space. Guests can opt to stay in that same hotel, too. This is convenient and, if alcohol is involved, much safer than staying elsewhere.
It stands to reason that these spaces can be a huge source of income for hotels. Not only are they getting the revenue from the space rental, they’ll most likely rent out quite a few rooms. That’s why it’s important to make sure your meeting and event space is up-to-date.
Invest in the Space
No one will want to book your meeting or event space if it isn’t modern and appealing. Keeping up with the latest trends will make sure you’re drawing in as many customers as possible.
It’s especially important to stay on top of emerging technologies. You’ll need to keep your event and meeting spaces equipped with the latest projector equipment, sound systems, and more. Of course, you also need to provide superior Wi-Fi. One trend to watch out for is the rise of 5G. As this technology becomes more widely available, your customers will expect you to be taking advantage of it.
Design and Layout
Technology is important, but so are aesthetics, especially for more social events. Right now, it’s trendy for event and meeting spaces to be open and flowing to foster conversation and networking. If a space feels closed-off, it doesn’t feel as inviting. By creating a more comfortable, inviting atmosphere, you create something much more appealing for guests.
Of course, new trends are emerging all the time. Sustainability, wellness, and connectivity are all dominating the conversation right now. Picking and choosing which trends fit your brand best will go a long way toward making your event and meeting spaces attractive to meeting and event planners.
Choose Southeast International Hotel Brokers
Whether you’re buying or selling a hotel, Southeast International Hotel Brokers can help. Our years of experience will ensure the process is as easy as possible. We also have vast hotel listing resources if you’re selling a hotel to make sure qualified buyers are able to see your property. For more information and to speak with a hospitality broker, contact us today.