Harnessing the Power of Events: Boosting Revenue for Your Hospitality Business

Harnessing the Power of Events

Whether it’s a buzzing local festival, a major sporting event, or a town-wide market, events bring people together – and that presents a golden opportunity for hospitality businesses. Here’s how to capitalise on events, both big and small, to increase foot traffic and boost your bottom line:

1. Know Your Calendar

Start by getting familiar with the events calendar in your area, focusing on both annual happenings and one-off occasions. Check your local council website, tourism boards, and event-specific websites for comprehensive listings. Mark down those that seem like the best fit for your target audience and the kind of experience you want to offer. Pay attention not only to the event itself but also to its location – events within walking distance create the most direct opportunity.

2. Plan Your Strategy

Don’t just react to events, use them strategically to your advantage! Here are a few ideas to get you started:

  • Event-Themed Specials: Offer limited-time food and drinks inspired by the event. A colourful cocktail for a music festival, a pre-theatre prix-fixe menu, or hearty, warming dishes perfect for a winter market are great draws.
  • Tailored Packages: Partner with local hotels or B&Bs to offer accommodation + dining bundles aimed at event attendees. This can be especially appealing for out-of-towners or those looking for a convenient all-in-one experience.
  • Leverage the Atmosphere: Even if your offerings aren’t directly tied to the event, make your space inviting to the influx of visitors. Live music (fitting the event’s vibe), festive décor, extended opening hours, or even just a vibrant, welcoming atmosphere will entice event-goers.

3. The Power of Partnerships

Collaborate with other businesses to expand your reach and offerings. Could you host a viewing party for a sporting event in partnership with a local pub (they offer drinks, you provide the food)? Offer local craftspeople space for a pop-up stall during a festival? Cross-promotion benefits everyone involved. Think outside the traditional hospitality box to find those win-win opportunities.

4. Cater to the Crowd

Anticipate the needs of event-goers and tailor your options accordingly. Offer grab-and-go meals for those in a rush, special deals for families attending kid-friendly events, or late-night dishes for when the concert lets out. Being the place that caters to those specific needs makes you the easy top choice.

5. Flexibility is Key

Events can lead to unexpected surges in demand. Be prepared to adjust staffing levels, have backup ingredients on hand, and offer streamlined ordering options to handle busy periods smoothly. Turning away customers or making them wait extensively creates a poor experience – flexibility lets you turn the event boom into positive customer sentiment.

6. Spread the Word

Promote your event-related offerings heavily leading up to, and during, the event itself. Use social media, put up eye-catching signage, and consider targeted online advertising focused on potential event attendees. Let people know you’re the place to be!

7. Don’t Forget the Follow-up

Collect feedback from customers who discovered you during an event, and offer a small discount or incentive for repeat visits to turn them into regulars. Building lasting relationships extends the value of the event beyond its immediate timeframe.

Bonus Tip: Think Beyond Your Walls

Could you cater for private events or parties linked to a larger festival? Could you offer special room service packages or dining deals specifically for guests staying in the area for an event? Be creative in how you can extend your services to capitalise on the event traffic.

Remember, with creativity and strategic thinking, events can be a significant driver of revenue for your hospitality business. Seize the opportunities they bring!