Hotels - cut your insurance costs to get more guests
It’s been a tough year or so for hotel owners in the UK – with disappointing weather meaning flood damage was every bit as likely as a flood of guests.
Still the dismal forecasts continue, and the appeal of a wet weekend away does little to boost trade.
Interestingly, figures released by the British Hospitality Association show the industry to be growing rapidly – but while more hotels and guest houses is great news for the consumer, it means more competition for the hotel owner.
According to the Association’s latest report, however, it might not be the weather or the added competition that’s leaving your hotel rooms empty.
The research showed that out of 140 countries, the UK fares abysmally in terms of its perceived ‘value for money’. Ranked down in 138th place, Britain is simply seen as far too expensive to merit a visit from abroad.
Reducing your room rates may go some way to restoring a little faith, but if profit margins are already squeezed, then slashing prices is easier said than done. In order to do it, many hotels are looking at effective ways to cut costs - without impacting on the standard of service.
Cheaper Hotel Insurance
Our advice? Look for a more competitive hotel insurance policy. Your current premium puts thousands of pounds in the expenditure column every year, but shop around and you could soon be paying less – leaving more breathing space if you want to cut room prices.
Hotel insurance is a specialist product that can be hard to find, but at QuoteRack we’ve got a host of independent brokers already lined up to provide you with a new quote.
It’s arguably the simplest way to start cutting costs, and won’t affect your customers in any way. So, even if business is booming, if your insurance renewal is due soon then why not find out how much you could save simply by switching your hotel insurance cover to a different broker?