The Beimen WOW Poshtel in Taipei increased its revenue by almost 400% after implementing a long-term inventory strategy and using our marketing tools in Partner Central to incentivize early bookings.
Taipei hostel’s inventory strategy helps boost bookings
Hostel
22 rooms
6 years in business
150%
increase in net room nights after loading long-term inventory
392%
increase in raw margin dollars (RMD) after loading long-term inventory
Challenge: Maintain steady bookings in a competitive market
As general manager at the Beimen WOW Poshtel, Janet Chen’s top goal is to fill as many beds as possible. The Taipei market is competitive, with nearly 1.5 million searches by travelers every day across our travel websites.
Janet knew she had to think creatively to set the Beimen WOW Poshtel apart from the competition. The property is unique in that it offers private rooms and dormitory options, making it appealing to a wide variety of guests.
For help attracting more travelers and increasing bookings, Janet turned to her market manager. Together, they analyzed the market and came up with a plan to achieve these goals and maintain a healthy average daily rate.
“It’s easy for us to set up promotions in Partner Central since we can amend them daily instead of having to set them for specific lengths of time. We depend on OTAs to sell rooms, so the promotions function works really well for us.”
Janet Chen
General Manager, Beiman WOW Poshtel
Solution: Increase bookings with a long-term inventory strategy
Janet’s market manager recommended the hostel adopt a long-term inventory strategy to maximize potential bookings. Opening up inventory for future dates would help the Beimen WOW Poshtel attract travelers who want to make reservations six months or even a year ahead of their trip.
To further appeal to potential guests, Janet created several early-bird promotions. The earlier travelers made their reservation, the bigger the discount they received. Janet also offered discounts to guests who stayed more than two nights to incentivize longer stays.
After all of these strategies were in place, the hostel saw a 150% increase in net room nights and a 392% increase in raw margin dollars.
Future: Preparing to welcome future guests
Like many partners, Janet has felt the impact of COVID-19. The Taiwan market saw a drop in demand throughout the pandemic, but the hotel’s long-term strategy ensures they can capture bookings from travelers eager to explore in the future.
In addition to adjusting their inventory and creating early-bird discounts, Janet and her team are also renovating select rooms to ensure the property is ready to welcome future guests as demand returns to normal.
Information contained in this article may have changed since publication.
