Additional Revenue Streams

We help independent, family-owned resorts and hotels in the Branson, Missouri; Table Rock Lake and surrounding areas build additional revenue streams aside from rooms/cabins.

We can help you plan and implement additional revenue streams. These can include event space, boat/slip rentals and marina services, parking space, merchandise, onsite activities and entertainment, food and beverage, group packages, event packages, convenience services, and many others.

First, think about what your guests already want, but your property does not yet offer. Do they often forget convenience items?  Are they willing to pay for event or parking space, but it's currently offered to everyone for free and not reservable?  Are they driving 15 minutes and waiting 30 minutes for breakfast when they really want to grab a coffee and something quick and start having fun?  Would they love to build a fire, but have no firewood?  What about smores for that fire?  When it rains, do you sell indoor activity kits to keep the kids entertained?  Would they like the option of early check-in and late check-out for additional fee?

Start by planning one small, simple revenue source.  The simplest sources of revenue use minimal staff, existing space and have low startup cost.

Estimate revenue potential for the idea.

How many guests are expected to pay for this?  How much will they pay and when?  What is the estimated total monthly and annual revenue, expenses and profit margin?  What is the process to deliver the service and responsibilities of your onsite staff and partners?  Is there technology and software involved?

Plan marketing for the idea.

Will the service be offered to guests in the form of upselling on your website and OTAs?  Will it be offered at the front desk upon guest arrival?  How far in advance must it be purchased to allow time to deliver the service?  The service offering and process for delivery must be easy for your guests to understand.

Plan operations for the idea.

What price for the service?  When does that price change?  Is the price different for loyal guests?  Is there a refund policy?  What is the required inventory and storage for the estimated demand?  What are the staff and partner responsibilities?  What training and collaboration is required?

Implement the idea and measure the impact.

Planning is complete.  Wheels are now in motion.  What unexpected difficulties are we encountering?  What is the guest feedback?  Is the additional revenue what we expected?  Are guests purchasing the service when and as frequently as we thought?  Is the impact on staff what we thought? 

Optimize and expand or go back to the drawing board?

If a new revenue stream proves successful, the next step is optimizing and expanding the process to increase profitability even further. If it fails to generate the expected demand or revenue, it may be best to reshape the concept or move on entirely. Some of the strongest ideas come from lessons learned through trial and error.