Top Tips to Get What You Need Out of Your Hotel Budget Season

It’s hard to believe we’re already halfway through 2024 and making plans for 2025. Getting ahead of goal setting isn’t just a great motivator to keep your team aligned and energized; it’s also critical to ensuring you set your team up for future success.

I know firsthand it can be tricky to advocate for new resources, whether that means increased headcount, a larger budget, or new tools for your team. Working on the vendor side, we're here to help make technology resourcing as easy as possible, and I’m sharing some personal tips to help you have a successful budgeting conversation, so you can get new technology solutions through the finish line.

✅ Review Approved Vendors

Refresh yourself on your brand’s list of approved vendors – plus, take note of any vendors who’ve been removed from the list since your last review. Approved vendors’ solutions will be the easiest to implement and most likely to meet your needs from the onset.

✅ Align to Goals

When deciding which vendors to contact, consider your property’s goals and how a particular vendor can help. For example, if reducing fraud and protecting revenue is a high priority, prioritize researching vendors with a robust security profile.

✅ See Demos Early

Schedule demos now, even if you’re intending to implement in 2025, so you can save some steps down the road and be ready to implement when the time is right. Good vendors will understand some sales aren’t immediate and be happy to work on your timetable.

✅ Invite Colleagues to the Conversation

If possible, get key players from your property and/or management company to sit on demos with you, so they can ask their questions directly. A quick 30-minute call can save everyone a lot of back and forth later.

✅ Get the Right Buy-In

Know who you need buy-in from and get in from of them early. Clearly articulate how the solution will help you reach your goals faster, and work with the vendor to tailor your pitch for whomever you're pitching to. Good vendors will have readily available ROI data that speaks to everyone. For example, your finance director will care about cost savings while your IT director will care about security.

✅ Overestimate Your Budget

This one might sound strange, but it’ll allow you to grow with the product you’re adopting and increase your usage without having to go back through the budgeting process all over again.

Are there other tips you've seen work? I'd love to hear from you! Join the conversation on LinkedIn here.