One way that a hotel can increase both their revenue and their brand power is by initiating a strategic partnership with another brand. The right strategic partnership can bring in a lot of revenue and attention to both brands. Today in the Southeast International Hotel Brokers blog, we’ll talk about why strategic partnerships matter and we will give you some examples of successful partnerships in the industry.
Why Strategic Partnerships Matter
Strategic partnerships have been staples of the hotel industry for a while now. There are a variety of different kinds of partnerships that can be extremely beneficial for a hotel. For instance, carrying the beers of a local brewery at your hotel bar is a great way to show you support local businesses while also giving your guests a unique taste of your city. Of course, local partnerships aren’t the only route you can go. If your brand is big enough, pursuing partnerships with national companies can have a huge impact on your bottom line too.
Clearly, strategic partnerships matter and can be a great idea if properly executed. Let’s look at some examples of strategic partnerships in the hotel industry.
Examples of Strategic Partnerships
Here are some examples of mutually beneficial strategic partnerships in the hotel industry:
Hilton and Various Airlines
Hilton is a giant in the hotel industry; therefore, they can make large deals. Hilton partnered its loyalty program with major airlines such as American, Delta, United, and many more. Now you can use your Hilton Honors points to buy airline miles. Partnering through a loyalty program is a common way for more prominent brands to bring a lot of strategic partners into the fold.
Destination Hotels and Resorts & Babierge
Destination Hotels & Resorts decided to make things easier for those traveling with babies by partnering with Babierge. Babierge rents baby equipment, and with their partnership, you can book your room through Destination and choose the baby equipment you want to have in your room when you arrive. Things like strollers and cribs will be waiting for you when you arrive. The partnership between the two businesses expands the guest base of Destination while bringing in money for Babierge.
Airbnb’s Night At
Technically it’s not a hotel brand, but Airbnb has been making waves with their “Night At” concept. Essentially, they partner with a brand and hold a contest where the winner gets to stay somewhere extremely unique. Recently, they partnered with Guinness. The winner got to stay in the Guinness Storehouse, which was once home to Arthur Guinness. Holding contests like this is a great way for both brands to gain tons of exposure.
Choose Southeast International Hotel Brokers
If you’re in the market to buy or sell a hotel, choose Southeast International Hotel Brokers. Our hospitality brokers will walk you through every step of the buying and selling process. Contact us today for more information and to speak with a member of our team.