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Viewing How Hotel Vacancy/Occupancy Rates Affect your Travel DollarHow Hotel Vacancy/Occupancy Rates Affect your Travel Dollar
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When times are tough, many people wonder how and if they will be able to take a family vacation. I have discovered a way to take advantage of the hard times in the economy right now, to get a lot more fun for much less money. Here is the secret ... By Anson Werner When times are tough, many people wonder how and if they will be able to take a family vacation. I know that because my wife and I had the same conversation just recently. However given my knack for uncovering travel deals, I was able to show my wife a way that we could take advantage of the hard times in the economy right now, to get a lot more fun for much less money. How to Stretch your Travel Dollars by Paying Less for Hotel Rooms In economic boom times, hotels typically have 95-98% occupancy rates. When hotels are running at such capacity, management is fat and happy with profits. However, in recessionary periods like those that we are experiencing right now, hotels find occupancy rates running at 60-65%, making it hard for management to make ends meet. Hotels make money when they can fill their rooms with paying customers. When running at 95-98% occupancy rates, filling those final rooms are pure gravy on the hotel's bottom line. With high occupancy rates, hotels tend to hold empty rooms for people desperate for a room, enabling the hotel to maximize its profits. However, when occupancy rates are low, hotel managers are desperate for customers instead of customers being desperate for a room. Herein lies the secret to getting more bang for your travel dollar. Full rooms are a seller's market, and empty rooms create a buyer's market. When in a buyer's market, the buyer has a lot of control over the final price the customer will pay. If you go to the front desk of the hotel and demonstrate to the satisfaction of the hotel proprietor that you may be willing to walk out the front door of the hotel and shop for another room, then you will have strengthened your hand for negotiating a better price for a room. My experience has been that many hotel proprietors believe that if you are standing in their lobby, you are more inclined to buy from them, rather than go down the street, so the proprietor will hold more firm on his or her price. However, if you are willing to call the hotel on the phone even from the hotel's parking lot, you will find that you have a lot more leverage to get a better deal. The truth is that if hotels are struggling to fill rooms, hotel proprietors are more often willing to negotiate a better rate for their rooms, with any person willing to ask. So ask. Not every hotel proprietor will be willing to reduce the price of a room, but frequently, proprietors who reject a lower price will offer extra amenities to sweeten the deal. So ask for the better price to see what you can get. You have nothing to lose by asking, and you could very well negotiate a much better deal if you are willing to ask for one. So speak up, and see if you can find a better deal than the advertised price for that room. About the Author: Over the years, Anson Werner has learned how to uncover the best travel deals and techniques to stretch his travel dollar. Recent finds include a 3-day/2-night Las Vegas stay for $49, and a trick to get a free cruise. He shares his advice and travel finds at http://www.shoppingtraveldeals.com/blog. Article source: 111 Travel Directory: Triple1.com (triple one dot com) |
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