How Hotels Can Increase Share Of Wallet With Incremental Offers
By Jos Schaap
In simple terms, share of wallet (SOW) is the percentage of a customer’s total spending that is captured by a business. For hoteliers, once a guest has made a booking, the ultimate goal is to maximize the revenues that the guest generates for each stay. The key to achieving this goal is understanding the guest’s continuously shifting mindset around cost. The potential of conversion of every purchase opportunity after initial reservation acquisition is dependent upon finding the right context to present the offer.