ACCOMMODATIONS
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15 min read
by Jaime Garín, Spanish Market Manager
Published January 18, 2024
| TRADE FAIRS | BUSINESS CONGRESSES | MADRID | LUGGIT |
Prepare your accommodations for Madrid'd business fairs and congresses of 2024 and make the most of them.
At Minty Host - integral management of tourist apartments - and LUGGit - luggage pick-up, storage and delivery service for guests wherever and whenever they want - we work together to provide the best experience for your guests.
On this occasion, we have joined forces to bring you this article to help you attract business travel guests (also called corporate) who attend the top events in Madrid and increase your revenue.
Calendar of the most important trade fairs and congresses in Madrid
FITUR from January 24 to 28
It is the first annual event for world tourism professionals and the leading trade fair for inbound and outbound markets in Ibero-America. More than 8,500 exhibiting companies, 136,000 professionals and 86,000 visitors from the general public come with the intent to do business and continue to learn about trends in this sector.
Intersicop from February 17 to 20
It is the meeting point for all types of bakery, pastry, ice cream, coffee and equipment professionals, attracting more than 15,600 professionals from 44 different countries and 170 exhibiting companies during those days.
Sicur from February 27 to March 1
It is the international benchmark for security in Spain. This great fair brings together more than 38,900 professional visitors, over 510 exhibitors and nearly 1,600 companies, focusing on comprehensive security (security, cybersecurity, fire and emergency safety or occupational safety) to continue promoting welfare and social development.
ARCO from March 6 to 10
ARCOmadrid is the International Contemporary Art Fair of Spain that constitutes one of the main platforms of the contemporary art market. This year, 2024, it will celebrate its 43rd edition with over 95,000 visitors, more than 1,300 artists, 206 galleries and over 800 invited collectors and professionals.
Rebuild from March 19 to 21
It is the leading forum for innovation to transform buildings, driving digitalisation and decarbonisation in the sector. It attracts more than 22,800 professionals, 544 exhibitors, 1,300 innovations and more than 617 international experts.
Fruit Attraction from October 8 to 10
The main event for all professionals in the fruit and vegetable industry worldwide, bringing together more than 103,000 professional visitors and more than 2,000 exhibiting companies from 145 countries.
FIAA from October 22 to 25
FIAA is the International Bus and Coach Fair, a meeting point for road passenger transport companies and a showcase for safe, ecological and connected collective mobility. It brings together more than 10,500 professional visitors and 250 exhibiting brands from 47 countries.
Global Mobility Call from November 19 to 21
It is the only international event on the sustainable mobility of people and goods. With more than 8,000 professional visitors, 320 participating companies and 470 speakers, it generates networking and business, bringing to light the different visions between companies, municipalities, institutions, administrations and other organisations.
What is the typology of the business travel guest during the months of fairs and congresses?
Thanks to Minty Host, we know that the weight of business travellers in Madrid increases by an average of 10% compared to other months and usual types (tourists, family visits, education, etc.).
Also, there are two nationalities of guests that increase notably during these dates:
- Spanish clients represent 19% of the total number of guests accommodated during these dates, meaning this figure is an increase of 6% compared to the rest of the year.
- Among foreign travellers, the French represent 7.2%, an increase of 1% compared to the rest of the year.
Some important Revenue data for tourist accommodations during trade fairs and congresses in Madrid
ADR
The ADR (Average Daily Rate) increases by 30%. So, take this into account when setting your rates during these dates.
Occupancy
Occupancy during the celebration and days before and after these events grows by 3%. Therefore, when attracting guests for these dates, offer availability and specific rates that adapt to the average stay of these travellers.
LoS
Precisely, the LoS (Length of Stay or Average Stay) falls by 1.5 days, but this should not be seen as a negative indicator but as an opportunity to obtain a higher income in fewer nights, given the high demand during these dates. If you have a minimum stay requirement, review it and reduce or even eliminate it for these dates to capture this type of client willing to pay more for less time.
Strategies to attract this type of client and increase your revenues
Here are some revenue and marketing strategies that can help you attract business travellers to your accommodations in Madrid during these events.
Revenue Strategies
Revenue Management at trade shows and events can be crucial to maximise profits. Here are some specific tips to achieve this.
Dynamic Pricing
Implement a pricing system that varies according to demand and the proximity of the trade show ahead of you. As the date approaches, prices may increase to capitalise on demand.
Offers and packages
Create attractive packages that include different services or additional benefits, such as VIP access to the event, transportation, accommodation, discounts at local restaurants, etc.
Customer segmentation
Identify different customer segments and tailor your offers to meet their specific needs. For example, companies sending multiple employees could benefit from group rates or volume discounts.
Historical data analysis
Examine data from past events to understand demand patterns, buying behaviours and peak periods. It will help you make more informed decisions about pricing and promotional strategies.
Cancellation policies
Consider restrictive cancellation policies to avoid last-minute cancellations and the resulting loss of revenue from empty rooms.
Real-time monitoring
Use real-time monitoring tools to adjust prices and strategies based on sudden changes in demand or competition.
The success of Revenue Management at events and trade shows in Madrid and other cities depends largely on a detailed understanding of demand patterns, flexibility in pricing strategies and the ability to adapt quickly to changes in the market.
Marketing Strategies
Besides revenue actions, the ideal is to accompany them with marketing strategies. Among them, we highlight the following.
Carrying out specific segmented campaigns through e-mailing and/or social networks
As mentioned above, segmentation is a valuable action. If you have been working on the history of clients who have stayed in previous years for these fairs and you have them segmented by the reasons for their trip (for example: "You stayed with us at FITUR"), you could launch a specific loyalty campaign with a percentage discount or with another type of benefit (additional extra services) if they book directly through your website.
You may be interested in How to adapt your tourist accommodation for business travellers.
For example, you could send them an e-mail with a FITUR2024 discount coupon so they can book directly and enjoy this advantage. If they also follow you on your social networks, you can spread this campaign on your Instagram, LinkedIn, etc...
You can also, for example, enable discount coupons that are only valid on the dates of each trade show and communicate them via e-mail, social networks, etc., to attract new guests to those events that you haven't worked on so far.
Contact IFEMA or the different fairs to offer your accommodations to their visitors and exhibitors
Another idea to attract Corporate travellers (for the fairs you are most interested in) is to contact IFEMA directly or each fair and propose a collaboration through which they can offer your accommodations to the professional visitors and exhibitors attending these events.
Usually, fairs offer facilities and extra services to attendees to make their days at the event easier, including a network of hotels and accommodations where they can stay when planning their trip. It would make sense for your accommodations to be on this list with a special condition, which could be your specific discount coupon for the fair in question (for example, a FITUR2024 coupon).
Content marketing
You can also work on content marketing (posts on Social Networks, articles on your blog...) before the fairs to position them in search engines. This way, when these guests are looking for accommodation for the event, they will find you at the top of their Google search.
Work the reviews
We all know that maintaining a positive reputation on review platforms is decisive in the decision-making process of potential travellers. For these periods in particular, it could be interesting to show those positive reviews from corporate travellers who have previously stayed with you on your social networks, your blog, your website, etc…
What might corporate travellers need during their stay?
Once they have booked into one of your accommodations, you will want to ensure you provide them with an experience that makes their days during their business event as easy as possible.
These travellers are usually short on time on both the day of arrival and departure. They often not only face multiple meetings during the fairs but also make the most of their trip during the days before and after to visit current partners, make arrangements and close new deals.
Therefore, their agenda and plans won't be the same as those of tourists, families or friends.
For instance, their check-in time to the apartment might be later in the day because, since they land, they will attend meetings before or during the fair and will not have time to stop by the apartment until the end of the day. Same for check-out. From early morning they will have a busy day until they catch their flight or train back after a last hard day of work.
Two tips to prepare your accommodations by providing them with an experience tailored to their needs
Online check-in and remote access
This type of guest is used to working in an automated and professional way, with little time for external business management when they arrive in Madrid. For this reason, they will appreciate the possibility of checking in by filling out the traveller's form and uploading identity documents remotely or online on their computer or cell phone before their arrival. We advise you to send the different documents to be filled in (traveller's form, contract...) after the confirmation of the reservation and a few days before their arrival.efit (additional extra services) if they book directly through your website.
As they won't be able to enter the accommodation during the usual hours, having electronic smart locks with which they can enter independently will make their first day easier. This way, if you send them the codes to enter the lock or the access link via e-mail, SMS, mobile app or WhatsApp, the guests can enter at any time.
Services they may need to get around the city on their way to or from the fair
To be of great help and allow them to invest their time and energy in what concerns them - the success of their company at the fair, offer them your guest book with:
- A map of the Madrid metro;
- A list of buses or direct transport to IFEMA;
- A list of the nearest supermarkets and restaurants;
- A list of pharmacies in the vicinity.
Of course, another point that these guests will highly value is a luggage pick-up, storage and delivery service where and whenever they need it. As mentioned above, they will have little time on arrival (direct to the show or meetings) and during their last day to carry their bags and exhibition materials.
It could also be the case that, after the event, they want to enjoy a few hours or the final cocktail, free of stress and luggage. There are many cases and examples of travelling more comfortably without lugging luggage on a business trip.
At LUGGit, we pick up and deliver guests' luggage at any point or street in Madrid, including the most common ones, such as Barajas Airport, Atocha station, Avenida de América, Chamartín and store them for as long as they need.
You can collaborate with LUGGit for free by recommending it to your guests with a 10% discount and earning extra income (€) every month.
Take a look at our collaboration proposal.
