What is the meaning / definition of Hotel Market Segments in the hospitality industry?
Not all customers are the same. Although, of course, all guests must receive the same high standard of service at a hotel or other kind of facility within the Hospitality Sector, there are definitely different types of customers. And offering them a hospitality experience that entirely meets their particular type and exact needs is the key to a providing an enjoyable hotel stay, where satisfaction is virtually guaranteed.
So, how can this differentiation in customer types be best organised? The answer is to devise a system of segments, known in Hospitality as Market Segments.
Market segments can be:
- Geographic
- Demographic
- Behavioural
- Psychographic
- Occasional
- Cultural
Just as there can be:
- Multi-variable account segmentation, and
- Segmentation by benefits!
Once segmentation is achieved, segment-specific services and activities can be organised, helping to provide customers with a tailored hotel experience whilst simultaneously contributing towards a hotel’s profit maximisation.
Other segments can be:
- Public
- Promotions
- Negotiated Rates
- Groups, and
- Wholesale
See Also:
Synonyms
