Are hotels a niche market?

Established hotel brands such as Intercontinental and Preferred Hotels & Resorts offer an array of properties aimed at different niche markets. By targeting a niche market, hotels can adapt their services and products to better serve customers and maybe face less competition, while achieving greater profitability.

What is a niche in hospitality?

A niche industry is any with a specific but lucrative community of customers and clients. Of course, the hospitality industry would be considered a “niche” industry, even though it’s broad. Anything with a specific, limited customer base that you’re looking to tap into.

How can a hotel benefit from operating in a niche market?

This niche market has a higher likelihood of becoming potential customers. Often simpler and more cost-effective to advertise to, niche markets usually result in hotel owners enjoying larger margins on their products or services.

How do you market the hospitality industry?

7 Practical Strategies to Promote Your Hospitality Business

1. Use Social Media. Social media is a crucial marketing platform for every business.
2. Streamline Buying and Booking Process.
3. Use the Business Location as a Strategy.
4. Invest in Training.
5. Value Your Customers.
6. Survey Your Customers.
7. Network Widely.

Is Nike a niche market?

While maintaining its identity as a niche manufacturer, Nike has been able to make itself a multinational powerhouse for all things sport. Knight and Bowerman first identified their target consumer and, through strategic marketing and growth, have been able to bring their products to the mainstream.

What are niche examples?

For example, within the market for women’s shoes are many different segments or niches. Shoes for vegan women would be a niche market, as would shoes for plus-sized women or shoes for nurses. Nearly every market can be further refined, or divided, by the specific needs and preferences of its constituents.

What are some examples of niche products?

Examples of niches include handmade items, pet food or pet owners, trendy t-shirts, eco-friendly products, beauty products, gadgets, or other trending products. By narrowing down how you look at a market, you are able to find areas and sections that haven’t been tapped into.

What is a hotel marketing?

Hotel marketing is an umbrella term, which refers to the various marketing strategies and techniques that hotels use, in order to promote their business and make a positive impression on customers. Essentially, it is about making a hotel as appealing as possible, in order to attract as many guests as possible.

What is the target market for hotels?

Hotel target markets are often subgroups consisting of people who are most likely to be interested in your property and services. Business travellers, tour groups, small conference groups and individual tourists are some examples of target customers of a hotel.

How to create a niche target market for your hotel?

Once we understand our hotel customers and their personal need and requirements we can create niche target markets. Start your market segmentation by creating 5 to 10 niche target markets for your hotel and list what requirements they might have. Using TripAdvisor, Travelpost or other travel communities and reviews will be very helpfull.

How do I segment my hotel market?

Start your market segmentation by creating 5 to 10 niche target markets for your hotel and list what requirements they might have. Using TripAdvisor, Travelpost or other travel communities and reviews will be very helpfull. Guests who stayed at your hotel clearly identify themselves with their likes and dislikes.

How hothotel marketing has to change?

Hotel marketing has to change! We have to divide our potential hotel customers up into small niche market segments and communicate with them in a targeted way. So to attract travelers, we have to start asking ourselves who our hotel guests are and why they stay with us. What is it they like about our hotel?

How do you categorize niche markets?

We categorize niche markets in the sense they could be royalty, they could be fashion, art, entertainment. They could be anyone of those items and we’ve actually been operating our business based on that for a long time.