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Game-changing hospitality: Your complete guide to prepping for major sporting events
Here's what your hotel's payments strategy should cover before the next major sporting event arrives.
The impact of major sporting events reaches well beyond the stadium walls, often rippling out across an entire host nation's economy. As travelling teams and fans arrive in host cities, they bring with them substantial spending on flights, transport, accommodation, food and entertainment.
Around a tenth of all tourism spend worldwide can be traced back to sports tourism. Demand for major sporting events has climbed by 137% year-on-year, helping push the market to a size of $565 billion in 2023.
For hoteliers, that spells opportunity. Expect occupancy and spending to climb as events roll into town — so we've put together a game plan to help you look after your international guests and make sure they leave with memories to treasure.
“In the competitive business of hospitality, hotels don’t just play the game. They need to stand out. And what better time to score big with your guests than during sports mega-events?”— Mark Rademaker, VP of Hospitality, Adyen
Greet guests with the payment methods they already use
In 2023, 49% of consumers paid using digital wallets, Buy Now, Pay Later (BNPL) services, and local payment methods that don’t involve cash or cards.
Offering local payment methods makes every guest feel at home. They can pay using methods that are popular in their countries, including AliPay (China), PIX (Brazil), and Afterpay (Australia).
Local payment methods will also help you generate more revenue. That’s because 57% of guests abandon their bookings if they can’t use their preferred payment methods, moving to hotels or travel agencies that offer these options.
So make sure you offer a diverse array of payment methods to cater to your target guests.
Let guests pay in a currency that makes sense to them
Dynamic currency conversion gives your guests the choice to pay in the local currency or their own currency.
You can change the bill to a currency your guests understand so they have a better idea of how much money they’re spending. They don’t have to do the math themselves. It’s automatically done on the payment terminal.
This transparency builds trust and streamlines the payment process. It reduces the likelihood of disputes and chargebacks because the guest knows how much they’re paying upfront.
And you can easily track these conversion details without overloading your finance teams. They can view all conversion transactions in a single dashboard and automatically add them to reports for smooth settlement and reconciliation.
Bring your payment terminals up to speed
Are your guests unable to get tickets to the game? You can help them tune in to watch matches live in the comfort of your hotel restaurant or bar.
But to hit the bullseye, you must be fast and seamless when taking orders and letting guests pay. You don’t want to disrupt their viewing experience. No one wants to miss a winning moment in real time.
To do this, consider upgrading your terminal fleet with contactless payment technology. It will allow you to offer your guests a variety of functionalities so they can enjoy their time. This includes splitting the bill, tipping, and paying at the table instead of the cash register.
Two notable options include:
Tap to Pay on iPhone
This turns your staff’s iPhones into a terminal. You don’t need specialized hardware to accept payments. You can enter the bill into a payment app on your iPhone and then present it to your guests to pay.
All-in-one terminals
An all-in-one terminal, like the AMS1, lets you run your business activities while on the go. You no longer have to rely on separate devices to take orders and accept payments. So you can quickly serve your guests their favorite food and drinks while they enjoy the game.
Why every second counts — and how Adyen helps
In the pulsating rhythm of a sports game, every second counts. The same is true in guest payments. Your hotel shouldn’t only offer comfortable accommodation to the visiting athletes and spectators. You should also ensure their every interaction with you is seamless, convenient, and fast.
Help your guests unwind after attending adrenaline-inducing matches and exploring the city. Do this with the help of Adyen’s single platform that offers diverse and scalable options that only require you to plug and play.
Our single API approach means you’ll only need one API integration to unlock local payment methods, dynamic currency conversions, and a range of payment functionalities across different geographies and sales channels. This gives you agility and versatility.
And relying on our single platform means you can minimise PCI compliance fees and consolidate your payments into one system. This helps you make data-driven strategies quickly and effortlessly.
To put it in the words of a customer in The Forrester Wave™ Merchant Payment Providers, Q1 2024 report, “Going from a legacy player to Adyen was ‘from a product perspective, like going from a Nokia to an iPhone.’”
Experience stellar payment performance and optimise your business with financial technology.
