Just as every hotel has its own unique brand, feel and service promise, the best payment processing solution isn’t a “one size fits all” endeavor. Here are some common hotel business goals to consider when evaluating which payment processing features will ensure you’re getting all the services you need to contribute to your hotel’s success.
You’re new to accepting credit cards
If you’re frequently booked to capacity, you may not be convinced that your current way of accepting payments (which may include taking reservations by phone and accepting payment by way of check or cash) is necessarily “broken.”
But, consider the data from PhoCusWright’s U.S. Consumer Travel Report Fifth Edition: While a collective 70 percent of travelers searched for their lodging online in 2012, just 17 percent called the hotel directly. By accepting credit cards online, you can increase your hotel’s booking success — without having to invest in pricey equipment or overhaul your current processes.
Though your website hosting service may already provide you with a site equipped with a shopping cart, you’ll need to establish a merchant account to accept customer credit cards in a secure way. If you’re not especially “technical,” or you simply don’t want to manage two services, a full service payment processor typically makes it easy to incorporate the payment processing account in tandem with your existing website, so you can accept major credit cards, debit cards, and checks, while ensuring that sensitive card and account information is kept secure and PCI compliant.
You want more ways to keep customers coming back
You invest significant effort into attracting customers to your hotel and keeping them happy during their stay. In addition to allowing you to accept credit cards, many payment processors also include point of sale functionality that allows you to execute targeted customer loyalty programs that are on par with larger hotel chains. Beyond the customer benefit, loyalty initiatives also provide you with data about your customers’ travel behavior. As you analyze this information over time, you’ll gain a deeper understanding of how you can optimize your marketing offers to reach customers when they’re ready to purchase.
You want customers to boost customer value
PhoCusWright’s research indicates that “dynamic bundling” is gaining in popularity among hoteliers. When you use a payment processor that offers point of sale capabilities, you can easily offer guests “bundled” promotions that offer a flat price for the many expenses that tend to accompany travel (including lodging, parking, food and activities) — giving them a reason to spend more of their time and money at your hotel.
You want to improve your onsite service
To stand out in the mind of the travel customer, you have to give them the exceptional service and convenience that makes them remember your hotel, return in the future — and recommend it to others. A simple way to leave a lasting customer impression is providing the flexibility to pay for anything from anywhere on your hotel grounds. If such service would appeal to your customer base, consider a payment-processing system that includes mobile use. When your staff is equipped with a handheld credit card processing device that plugs into a mobile device, for example, you can streamline the check-in and check-out process, by meeting guests at their hotel room door or in the lobby upon their arrival.
You want to minimize expenses and boost revenue in slower periods
When peak travel demand slows, managing costs is likely your priority. In that case, consider a payment-processing service that doesn’t require you to sign lengthy contracts or invest in additional equipment. Many payment processors allow the flexibility to use the services on a month-to-month basis, and charge fees based on a percentage of the transaction charged.
Selecting a payment-processing system that enhances your hotel’s success needn’t be cumbersome or expensive to integrate into your operations. By taking the time to assess your needs, you can find the system that empowers you to better attract and serve your existing and potential clients.
About the author:
Kristen Gramigna is Chief Marketing Officer for BluePay, a credit card processing firm, and also serves on its Board of Directors. She has more than 15 years experience in the bankcard industry in direct sales, sales management and marketing.
