Why bother with the sign?

[Morticia]

We've had the 'no vacancy' sign out for a week or so. Never changed it out today which was ok as we were trying to get that room cleaned all day. Didn't make a bit of difference. 3 separate walk ins rang the bell to ask about rooms. We nabbed 2 of them. The other needed the extra bed that's in the stinky room.

 

[Lee2014]

We don't have a vacancy or no vacancy sign up, but we still get walk ins and last minute calls.

 

[Arks]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose.

 

[Lee2014]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Better get started on remodeling that other building!

 

[gillumhouse]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Sigh

 

[Highlands John]

I always change mine religiously.
The days I have no rooms ("No Vacancies" out) they knock on the door.
The days I have rooms, like last night, nothing, nada !
It's been a strange year for walkins, there's been very few. We've been booked well ahead and any gaps in the calendar stay as gaps. July was a case-in-point, 1st july I was full for the month except empty room on 12th and empty room on 14th. Neither went.

 

[Generic]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.

 

[Arks]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.
.

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.

The calls I got all week finally caused me to set some rate adjustments in ResKey, to mark up next Labor Day weekend by $10/room. Did the same with Memorial Day, Thanksgiving and Christmas. 4th of July has never been busy for me, but those other holidays are, so might as well make some extra money. Supply and demand.

 

[Generic]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.
.

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.

The calls I got all week finally caused me to set some rate adjustments in ResKey, to mark up next Labor Day weekend by $10/room. Did the same with Memorial Day, Thanksgiving and Christmas. 4th of July has never been busy for me, but those other holidays are, so might as well make some extra money. Supply and demand.
.

Just $10 a night? We mark up $20 a night. But I have to put something down to ensure the room packing doesn't happen. I think I'm going to put that occupancy by more than the contracted amount is $100 per person per night. See if that gets their attention.

 

[GoodScout]

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.
What seems to work for me is to set aggressive but not outrageous rates initially, getting a good yield from early bookers. Then 20-40 days beforehand, when bookings for me take a siesta, I drop rates on dates where I still have low occupancy.
What I should do for last-minute bookers is raise my rates slightly 5-7 days before arrival. Unfortunately, I lack the courage to do that, fearing empty rooms. If I could develop the self-discipline to do that, I'd probably get slightly higher room rates from those last-minute panicked bookers.
The other thing is to constantly keep tabs on your competition. When other hotels or inns websites show them full-up, you'd better be upping your rates or you're leaving money on the table.

 

[MtnKeeper]

This past couple of years we haven't gotten many walk-ins -- we used to get lots of Europeans & Brits who didn't plan and then would book last minute or just show up. Only 1 this entire summer. It's fine we're having a fantastic year but I've heard that those demographics are traveling more to the west coast, southwest and the south more than here in New England. Or maybe because I wasn't on book ing . com until this past week or so I didn't get any of them and my competitors did who are all on there. We'll see how it goes - they aren't getting my foliage dates or my weekends which could be the difference as well as my competitors are giving them all dates -- they just jacked up the rates all summer and foliage on their own site to cover the costs of the fees -- maybe a great strategy there.

 

[gillumhouse]

Although I do not get many cancels, I have had a few this year, more than usual. I do not take deposits, but I am thinking of posting on my web site, in the confirmation letter, on RezKey - there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge .

 

[Arks]

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.
What seems to work for me is to set aggressive but not outrageous rates initially, getting a good yield from early bookers. Then 20-40 days beforehand, when bookings for me take a siesta, I drop rates on dates where I still have low occupancy.
What I should do for last-minute bookers is raise my rates slightly 5-7 days before arrival. Unfortunately, I lack the courage to do that, fearing empty rooms. If I could develop the self-discipline to do that, I'd probably get slightly higher room rates from those last-minute panicked bookers.
The other thing is to constantly keep tabs on your competition. When other hotels or inns websites show them full-up, you'd better be upping your rates or you're leaving money on the table..

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.

I've been using ResKey's yield management tool for several months now, since I attended a class on it at that Nashville innkeepers conference. It has put money in my pocket. I just put on the website "Rates start at $xxx.xx but vary depending on day of the week and occupancy rate. Enter your travel dates to see the rate for your stay with us." It helps that my lowest possible rate is what they see first (the $xxx.xx part).

 

[Arks]

Although I do not get many cancels, I have had a few this year, more than usual. I do not take deposits, but I am thinking of posting on my web site, in the confirmation letter, on RezKey - there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge ..

...there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge .

That's very reasonable, and I don't think guests will be bothered in the least by that. I've had about 10 cancellations this year, all paid my $25 fee without saying a word. A few of them even wrote "I know there is a $25 cancellation fee," when they contacted me to cancel. So some people DO read, when it's the posted cancellation policy.

 

[Anon Inn]

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.
What seems to work for me is to set aggressive but not outrageous rates initially, getting a good yield from early bookers. Then 20-40 days beforehand, when bookings for me take a siesta, I drop rates on dates where I still have low occupancy.
What I should do for last-minute bookers is raise my rates slightly 5-7 days before arrival. Unfortunately, I lack the courage to do that, fearing empty rooms. If I could develop the self-discipline to do that, I'd probably get slightly higher room rates from those last-minute panicked bookers.
The other thing is to constantly keep tabs on your competition. When other hotels or inns websites show them full-up, you'd better be upping your rates or you're leaving money on the table..

Similar view here. I don't change the rates during the year, but do keep tabs on the 'competition'. The nearby resort has basic rooms at $79, with multi-occupancy suites at $160 and up. Nearby B&Bs are 135/night.
We are $110, $130 for small and large B&B room, and $120 for the up to 4 apartment.
I find that in August, coastal lodgings fill, then people move inland to us, usually last minute people.
Raised rates overall this year. More advance bookings and fewer one nighters.
Might start tweaking according to season next year.

 

[Anon Inn]

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.
What seems to work for me is to set aggressive but not outrageous rates initially, getting a good yield from early bookers. Then 20-40 days beforehand, when bookings for me take a siesta, I drop rates on dates where I still have low occupancy.
What I should do for last-minute bookers is raise my rates slightly 5-7 days before arrival. Unfortunately, I lack the courage to do that, fearing empty rooms. If I could develop the self-discipline to do that, I'd probably get slightly higher room rates from those last-minute panicked bookers.
The other thing is to constantly keep tabs on your competition. When other hotels or inns websites show them full-up, you'd better be upping your rates or you're leaving money on the table..

Holidays like this make the case for developing a good yield management strategy. I've been reading over the past year how airlines and other larger hotel chains handle rate adjustments.

I've been using ResKey's yield management tool for several months now, since I attended a class on it at that Nashville innkeepers conference. It has put money in my pocket. I just put on the website "Rates start at $xxx.xx but vary depending on day of the week and occupancy rate. Enter your travel dates to see the rate for your stay with us." It helps that my lowest possible rate is what they see first (the $xxx.xx part).
.

Wow. Didn't know ResKey will do that!
Edited to say - yep, there it is, under properties.
Tunnel vision. Never have checked out all Reskey's features. Thanks!

 

[nataliebee]

Although I do not get many cancels, I have had a few this year, more than usual. I do not take deposits, but I am thinking of posting on my web site, in the confirmation letter, on RezKey - there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge ..

We charge an entire night's fee if there is less than a 48-hour cancellation. That being said, we waive it due to illness or inclement weather (a freak snowstorm). We've had plenty of guests book at another Inn with the same name (we're not a franchise, just a coincidence) in different city altogether and we still charge.

 

[Arks]

A sign wouldn't help with all these phone calls I've been getting. It seems lots of reunions are planned for Labor Day weekend around here. If I had 25 rooms this weekend, I could have filled them all. Been turning people down for a week. People who waited to look for lodging until the day before, or the day of their arrival in town. People who don't plan ahead deserve what they get, I suppose..

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.
.

Lots of calls this Labour Day weekend.... wish I had waited, could have made more money and had better guests.

The calls I got all week finally caused me to set some rate adjustments in ResKey, to mark up next Labor Day weekend by $10/room. Did the same with Memorial Day, Thanksgiving and Christmas. 4th of July has never been busy for me, but those other holidays are, so might as well make some extra money. Supply and demand.
.

Just $10 a night? We mark up $20 a night. But I have to put something down to ensure the room packing doesn't happen. I think I'm going to put that occupancy by more than the contracted amount is $100 per person per night. See if that gets their attention.
.

Just $10 a night? We mark up $20 a night.

Baby steps, testing the water. And, consider where you are, and where I am!

 

[JimBoone]

Although I do not get many cancels, I have had a few this year, more than usual. I do not take deposits, but I am thinking of posting on my web site, in the confirmation letter, on RezKey - there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge ..

Being able to enter the guests card number to prove that it is a good card and charge a small fee was the part that sold me on Reservation Key & Authorize.net, not really going to make me any money, but proves the card is real and weeds out the lookers who are not really serious about their reservation.

 

[JimBoone]

Although I do not get many cancels, I have had a few this year, more than usual. I do not take deposits, but I am thinking of posting on my web site, in the confirmation letter, on RezKey - there will be a $25 cancellation fee if cancelled prior to 48 hours before expected arrival at which time the cancellation fee is a full reservation charge ..

We charge an entire night's fee if there is less than a 48-hour cancellation. That being said, we waive it due to illness or inclement weather (a freak snowstorm). We've had plenty of guests book at another Inn with the same name (we're not a franchise, just a coincidence) in different city altogether and we still charge.
.

Have had guests book with me who were expecting a property with the same name in a different country, I've learned to ask if that live near that area.