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Maximise income with late Valentine’s Day bookings [Infographic]

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18% of Valentine’s Day spending is on food and drink - how can your hospitality business make the most of late bookings?

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Maximise income with late Valentine’s Day bookings [Infographic]

  1. 1. £313 million of that total was spent on food and drink. 18% of the total Valentine’s Day spending. CAN YOU AFFORD TO MISS OUT? • Make sure your reservations system offers real-time, 24/7 availability so customers can book in complete confidence • Optimise your website so it’s mobile friendly: no PDF downloads! • Optimise your settings to maximise occupancy – update availability in real time in case of cancellations or changes to a booking • This also allows you to accommodate walk-ins or late bookers, as vacant tables can be immediately released for rebooking when the bill is being paid Maximise income with late Valentine’s Day bookings They say you can’t put a price on love, but that’s not always true. That’s because the UK spent a whopping Reassuringly for the hospitality industry, a huge proportion of the UK still believe that the best way to man’s (or woman’s) heart is through the stomach, as £980 million on Valentine’s Day in 2016 That’s the second biggest amount after gifts, making up almost The first important thing for hospitality operators to note is that all these stats relate to spend through smartphones. It just goes to show how significant the smartphone generation are when it comes to your income, particularly on special occasions. And the second important factor is just how late in the day some tend to leave it. 50% of over 55s leave it until the week before to plan their spend. Almost 40% of 24s and under plan at least two weeks in advance. Whereas Our booking data shows that the earliest booking for Valentine’s Day in 2018 was made on 12th February 2017 – over a year in advance! (Maybe someone who missed out on a partner’s favourite venue so decided to make sure the same thing didn’t happen again?) 29% And the fear of missing out is encouraging more and more people to book early. Our data shows a year-on-year increase in bookings of The opportunity is a huge one (£313 million to be precise) You need to offer availability for customers on smartphones You also need to offer real-time availability to cater for those late bookers and fill every last table in your venue © 2019 liveRES All Rights Reserved Unit 1 Cheshire House | Hurricane Close | Stafford | ST16 11L | Sales: 01785 257 777 | Helpdesk: 01565 622 329 In other words: