There can be no doubt that Covid lockdowns have devastated the travel industry. An unprecedented number of travel-related businesses have shut their doors forever. According to a January 2021 report from the U.S. Travel Association, travel spending fell a full 42% compared to 2019. And the report was published before the more deadly delta variant hit the country.
The global pandemic is taking an especially significant toll on hotels. An in-depth state-of-the-industry report, published by the American Hotel and Lodging Association (AHLA), predicted that half of U.S. hotel rooms would remain empty for the foreseeable future. Hotels are also losing a considerable amount of revenue through a sharp drop-off in business convention rentals. Some analysts predict that this source of income may be lost forever, especially with the upsurge in virtual conferences.
The AHLA laments that the Covid pandemic has set the hotel industry back 10 years in terms of revenue. This grim outlook means that only hotels with sufficient resources will manage to limp through until conditions normalize.
However, some creative companies have successfully pivoted their services to keep their doors open. These clever hotels have discovered an added source of income they can rely on even after things get back to normal. And what’s even better, it cost them nothing in upfront investment.
Profits from Storage Space Make Up for Lost Revenue
More vacancies mean plenty of unused space. With over half of American hotel rooms still vacant, some hotels have turned the decrease in occupancy to their advantage by partnering with a service called Stasher.
Stasher is a luggage storage company that includes over 2500 StashPoint locations around the world. Stasher’s network continues to expand and has multiple secure storage locations in most American cities, many of them in hotels.
The company makes it a point to offer StashPoints close to all major tourist attractions and transportation hubs. Having luggage storage at a hotel closer to the venue or airport is incredibly convenient for travelers who plan to take in a show or participate in another activity before hitting the airport for a late flight.
Savvy hoteliers and property managers are turning their extra space into secure luggage storage facilities that will generate semi-passive income even after the pandemic ends.
Stasher’s hotel partners had this to say about the program:
Monetising empty space has always been a pain point for brick and mortar businesses. Especially as the travel industry slowly recovers, we welcome every chance we get to boost our hotels profitability.
Stasher has been a great way to make our unused space work for us as well as helping us upsell our other restaurants and bars. The frictionless booking system created by Stasher combined with the trust that the Premier Inn brand carries, is a win-win for everyone involved.Premier Inn
Stasher charges the same low price per item regardless of size or weight. Travelers with oversized bags, musical instruments, or sporting gear are especially appreciative of having secure options for storing their large and valuable items. As an added convenience, many of Stasher’s storage locations remain open late or offer 24-hour service. It’s a win-win situation for all parties.
If your business is in a central location, Stasher can become a solid additional source of revenue.Harun Jalil Deeb, Business Owner, Brighton
Here are just a few case studies from Stasher’s hotel partners:
- Just 20 square feet (2 square meters) of free space can earn your business up to $20k in extra revenue!
Working with Stasher has been a great and easy way to monetize our unused storage space.Laura Bell, Property Manager, London
- An independent hotel in London generated over £30k to their bottom line simply by storing bags for travelers.
- Signing up is free, and the luggage storage process takes less than two minutes to complete!
- One independent property in London Paddington has earned £50k in additional revenue in a year.
- An Accor Hotel in Gare du Nord with a capacity of just 10 bags a day added an extra €20k to their bottom line.
The process of storing luggage with Stasher is quick and easy, and travelers can book their baggage storage in three simple steps:
- Choose a StashPoint location on stasher.com.
- Book luggage storage.
- Present the confirmation, and drop off the bags.
Stasher’s Hotel Partnership Program
Stasher’s Partnership Program has a proven track record, boasting partnerships with some of the world’s most renowned hospitality businesses, including:
- Accor Hotels
- Marriott International
- Premier Inn
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