In the hospitality business, competition is always intense and this will never change. So to make it in this business you have to rely on new strategies. Targeting niche markets is one such strategy to give you the edge.
Most property owners will say that they target any possible guest because this is an approach that works. It, however, does not make your business distinguishablе. If you turn your attention to niche customers, you will be able to attract specific guests and even make them loyal clients. This will give you a competitive advantage over your rivals and take you to the path to success.
Finding niches you can target may seem hard, but it is not. All you need to do is just look around and start studying your guests. Thus you can gather a lot of useful information - for instance where your guests come from, what their reasons for staying with you are, what they need and so on. It will also help you identify groups of people who need and look for specific services. Then simply offer and improve these services all the time.
Here are several examples of niche markets:
Honeymooners
These are people who have just recently celebrated their wedding and are now looking for new and exciting spots. Here the importance of your location steps in - if you have fun places around you, simply highlight them on your website and Facebook page, etc. Having a full-feature PMS platform can do a great job allowing you to keep info of local events and tempting offers up-to-date in real time and across all your distribution channels.
Elderly people
Retirees usually look for quiet and nice places. Such properties are somewhat isolated, being often located in mountainous areas. As a fact, these destinations are all dedicated to serenity so people who want to get some rest far from busy, populated and noisy areas will look for exactly such places.
Explorers
Do not underestimate the number of tourists wanting to explore the world. If your property is close to natural phenomena, places of historical interest or locations that offer extreme experiences, you can start by sharing information about all the cool things guests can find near you.
Pet-lovers
Going on vacation with a pet can quite often be a problem because many properties do not allow pets on premises or they will charge guests extra. This is another niche market that you can use. To achieve it, you need to create a pet-friendly property that does not have additional pet fees. Who knows, with time you may become the favorite location of pet-lovers.
College students and their parents
Colleges and universities can provide you with tons of guests. First, you have the students who apply, and second - their parents that will come and visit their children for the next 4 years. This is an excellent opportunity and you can grab it by offering outstanding services to both students and parents.
In the busy life of the hotelier it is easy to overlook niche markets but they are definitely worth considering. They can offer you more business opportunities, more guests and more revenue. Next, you get a special pool of people you can rely on. In fact niche markets may be the difference between having just a seasonal business and being full all year long. And it takes a single step to start - look around - there are numerous niche markets nearby waiting for you!