Some upscale hotels that are waiting for a return to normality following the recession may be disappointed. Forced by the economic recession to make their budgets go further, their customers have tried lower priced alternatives—and actually like them.
What is the value of your customer? – I don’t mean the total of the restaurant check or hotel account after one visit but the total value to your business of the customer as they return time, after time? This total is the true value of the customer to a hotel or restaurant…..the Life Time Value (LTV). It’s no surprise then, that increasing guest loyalty ensures that you maximize the LTV of customers.
