108. Recognizing the Lifetime Value of Your Guests

What if we told you that the actual reservation is just the tip of the iceberg when it comes to the true value your guests represent?

We’ve been in a reflection mood lately. Part of looking back on our hosting journey is recognizing how much we’ve grown while looking closely at the mistakes that we’ve made along the way. There are three giant missteps that we’ve made that we can’t stop thinking about. One of the biggest ones is this: Underestimating the lifetime value of your guest.

Automation is great, but if you limit interaction with your guest just to “turn and burn” you’re going to leave money on the table. You can get so much more value out of each guest beyond the actual reservation. Here are some examples:

• Repeat bookings
• Referrals
• Added services

We had to learn this lesson the hard way, but now you can learn from our mistakes and get things right the first time. To learn about the other two mistakes we made and how to avoid them, join our free workshop!

Resources:

• thanksforvisiting.me/workshop
• Join StayFi
• #STRShareSunday: @dustyrosega