{"id":22709,"date":"2020-04-14T07:25:29","date_gmt":"2020-04-14T07:25:29","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/source-of-business\/"},"modified":"2024-12-23T09:21:14","modified_gmt":"2024-12-23T09:21:14","slug":"source-of-business","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/source-of-business","title":{"rendered":"Source of Business"},"content":{"rendered":"

What is the meaning \/ definition of Source of Business, in the hospitality industry<\/a>?<\/p>\n

Source of Business is a term used to determine how a guest heard about the hotel in order to further expand marketing and promotion efforts to maximise profitability. Simply speaking, a Source of Business provides a hotel with a breakdown of how or through which channel the business arrived to the hotel<\/a>.<\/p>\n

The business can typically come from the following sources:<\/p>\n

Travel agents and tour operators, OTA<\/a> and other 3rd party booking<\/a> websites, airlines and other transportation companies, NGOs, embassies and consulates, private companies (for business travel), educational institutions, FITs, chain hotels and referrals from their houses.. Reservations can come through CRS<\/a> or GDS<\/a> and can be generated by a specific call to action, a marketing campaign, online marketing, ads, social media, promotions, blogs, Tripadvisor, word of mouth and more.<\/p>\n

Determining the main source of business allows hotels to cater their marketing and promotion efforts to the various streams and to develop them for increased future revenue.<\/p>\n

To determine where the source of business lies, many hotels will have an option for guests to provide them with the answer. This can be a simple question (usually at the time of booking), a survey or a complete page-dedicated questionnaire. Through this, accurate data can be collected for future marketing campaigns to specific target groups.<\/p>\n

Example: If you know that your business comes mainly from recommendations you can develop strategies to encourage guests to recommend your property<\/a> to their friends and family. This can be in form of discounts or vouchers<\/a> in exchange for referrals, a specific campaign to incentify your guests to share your hotel experience with others, to write a review, a hotel-related social media post etc.<\/p>\n

See Also:<\/strong><\/p>\n