Event travellers - How hotels can optimise their profits from event bookings
Event tourism on the rise
Event-related travel is growing rapidly, underlining the importance of hotels adapting. A global travel survey indicates that almost two-thirds (around 65%) of travellers today are more likely to travel to attend an event compared to the past. Younger generations in particular are driving the trend - events such as major concerts and festivals are strong reasons for travelling. In addition, data shows that 58% of those who book a concert ticket reserve a hotel within one week of buying the ticket. This behaviour means that demand for rooms around popular event dates can skyrocket very quickly.
For your hotel, the increase in event tourism represents an opportunity for extra revenue. By understanding when and where demand arises - for example, when your city hosts a major sports final, a trade fair or a concert weekend - you can be ahead of the game in your planning. The key is to identify early on the events that drive travel to your area and adapt your offer accordingly.
Strategic pricing around events
When a major event takes place nearby, demand for accommodation usually rises, and guests often expect that prices may be higher during these periods. In fact, around 65% of travellers globally accept that hotels raise prices during peak periods. To apply dynamic pricing - i.e. adjusting room rates in real time based on demand - is therefore a key strategy for maximising revenue at events.
- Adjust prices according to demand: Don't be afraid to charge higher room rates during popular event dates when many people want to book. If an event generates a lot of pressure on rooms, a higher price level may be justified. At the same time, price adjustments should be made strategically to maintain guest confidence - feel free to offer added value (e.g. breakfast or late check-out) that justifies the price.
- Minimum stay requirements: Consider setting a minimum length of stay during major event weekends. For example, a two-night minimum rule can help increase the overall revenue per booking and ensure that rooms are not left empty in the days before or after the event. Many event travellers take the opportunity to stay an extra night, so your hotel can benefit from longer bookings.
- Event packages and offers: Create package deals in connection with events. These can be special packages that include transport to the venue, pre-concert dinner or other benefits linked to the event. By bundling accommodation with relevant experiences, you can both add value for the guest and increase your upsell. This makes your offer more attractive than the competition, beyond just the price.
Successful event pricing requires foresight and constant monitoring of the market. Keep an eye on local event calendars and ticket launches - when a big concert is announced or tickets for a trade show are released, your prices and room availability should also be updated in the system. A flexible pricing strategy that is adapted well in advance maximises the chance of capturing the wave of bookings that often comes immediately after an event is announced.
Group bookings and special requests
Events generate not only solo travellers and couples, but often larger groups as well. This can range from companies sending entire teams to a conference, to groups of friends travelling together for a festival or a sports team needing multiple rooms. Dealing with group bookings Efficiency is therefore crucial to both filling the hotel and keeping guests happy. This means offering flexible solutions and being responsive to specific needs.
- Easy booking for groups: Make it easy for groups to book with you. Offer the possibility to book a block of rooms together and provide a dedicated contact person at the hotel who can help the group with their booking. Clear group contracts - setting out the price per room, payment terms and any deposits - provide peace of mind for both the hotel and the guest. Also consider group discounts or a free night for the group leader if they book a certain number of rooms, as an incentive to choose your hotel.
- Communicate and collect requests in advance: Ask for the group's specific requests already at the time of booking. This could be room distribution (e.g. who wants to stay together), the need for extra beds or cots, allergies at breakfast, or whether they need to gather in a conference room at some point during their stay. By gathering this information early, the hotel can prepare and avoid last-minute surprises. Accommodating special requests - such as placing rooms close together or organising a late dinner after the event - enhances the guest experience and increases the chances of them returning.
- Plan for the arrival of the group: Large groups arriving at the same time can create temporary pressure on reception and other staff. Make sure you have extra staff or an efficient check-in process ready when a busload of guests turn up. Prepare key cards in advance and consider a separate check-in desk for the group. The quicker and smoother you can get the group to their rooms, the better the first impression - which in turn increases the chances of them leaving good reviews and perhaps booking again for next year's event.
By managing group bookings professionally, you not only generate additional sales in the form of many rooms at once, but also build relationships. Satisfied groups may well become repeat customers if the event is an annual one, or spread the word to others. Corporate clients in particular value a smooth process - it could lead to your hotel becoming their first choice for future conferences or group travel.
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Maximising potential with the right tools
Putting the above strategies into practice requires not only will and knowledge, but also effective system support. Here comes a modern reservation system for hotels into the picture. A platform that Lyra (formerly known as Modular Visit) helps hotels manage everything from price adjustments to group bookings in one solution. By leveraging technology, you can optimise event revenue with less manual work and fewer mistakes.
Automated price and channel management: With an integrated system, you can set price rules for specific dates or periods. If you know a big conference or concert is coming up, the system can automatically increase the price for those dates and also synchronise the changes across all booking channels (own web, OTAs, etc.) in real time. This means you don't have to manually update prices in multiple places and reduces the risk of forgetting to adjust any channel. In addition, you can set restrictions such as minimum number of nights directly in the system, so that they are applied consistently when booking online.
Effective group management in the system: The Lyra platform includes features specifically designed for group and corporate bookings. For example, you can link multiple rooms to a single group booking or company profile, so that all the information is clearly organised. The system also supports flexible payment management - a group of guests can easily split the bill so that each individual pays their share separately, while common costs are invoiced centrally to the company or organiser. Invoicing can be handled automatically according to pre-set conditions, and a company can receive a single invoice for all rooms in the group booking, which saves administrative time. This type of automation is particularly useful for groups or conference guests where part of the bill is to be paid privately and part by the company.
Communication and specialised missions: A modern system can also handle automatic notifications and tasks linked to bookings. If a group has made a special request (e.g. extra pillows or late arrival), the system can immediately inform the relevant staff or schedule the task. Similarly, automatic emails can be sent out to guests with welcome information, pre-trip reminders or upgrade offers. All this happens in the background, ensuring that event travellers feel well looked after without staff having to remember every detail.
In conclusion, hotels are facing a golden opportunity as event travel increases. By analysing trends (e.g. knowing that 65% of guests like to travel for events), adapting pricing smartly, managing group bookings professionally, and leveraging the right technology, your hotel can maximise revenue at every event. Event travellers are looking for convenience and experience - if you can meet their needs while optimising your revenue management, both guests and the bottom line will thank you. With preparation, flexibility and a powerful platform like Lyra behind you, you can ensure your hotel is the obvious choice when the next big event comes to town.
