Actually...don't answer that yet.
I got a call several minutes ago. A nice lady booked a room for next weekend and told me she had considered about every inn in the area before committing to us. She asked why we were $75/night less than any place she looked into...yet we are rated higher on TripAdvisor than any of them. AND...we include a $30 wine gift card to the wine shop as part of the Romantic Weekend Package.
I could only reply, "Because I am an idiot."
But am I really? The last time we had a rate increase at Hampton Terrace was 2007. But our gross revenues are 30% higher in 2011 than in 2007...in spite of the economy and increased competition. That means we are hosting 30% more guests than four years ago. Susan and I are working 30% harder.
So I guess I am an idiot.
But not so fast my friend...borrowing a line from College Game Day. I went on to tell the lady that our goal at Hampton Terrace is to exceed expectations. I want our guests to drive away from Lenox feeling, "Wow, we really got a good value." And the proof is that 19 out of 20 reviews on TripAdvisor give us a 5 out of 5. Almost 400 reviews.
I certainly will not discount that occasionally we run into someone we cannot please. Or someone who was looking for a $500 experience for $199. That is the "HotWire.com" phenomenon.... because recent economic events have caused some 4-star hotels to offer 2-star prices. Lucky for those consumers...but not a business model that works in a 14-room inn.
So back to our prices. I often get asked if we offer AAA, Senior Citizen, or other discounts. I respond that our policy has always been to charge the least we can, in order to attract the most business. And apply that rate to everyone.
So there we are. Our rates vary between in-season or off-season. Mid-week or weekend.
This week we enter eight months of off-season rates. Our Romantic Weekend Special is less than $200/night for all rooms except the suites. That includes full, daily-changing, all-you-can-eat breakfast buffets of comfort food. We also provide $30 of wine or gourmet food of your choice to enjoy in your room, at our self-help bar, or in front of one of our many fireplaces. We help you plan your stay by providing lists of recommended restaurants and things to do in the area.
And according to my most recent call, we are $75 less than other inns. I guess I AM an idiot.