Blogs

Game-changing hospitality: The ultimate checklist for major sports event prep

Explore the top payment solutions to look out for ahead of sports mega-events and how your hotel can be on a winning streak.

April 8, 2024

· 7 minutes

Topics

Blogs Omnichannel experiences Optimize payments Payment methods In-person payments Travel and hospitality Food and beverage

Large-scale sporting events transcend stadiums, arenas, and clubs. They can affect a country’s entire economy. Teams and fans traveling to host cities inject significant amounts of money through flights, transportation, accommodation, dining, entertainment, and more.

Sports tourism generates around 10% of the world’s total tourism expenditure. With a 137% year-over-year increase in the global consumer demand for major sports events, it’s no wonder the industry reached $565 billion in market size in 2023.

That’s good news for you. Your hotel can expect a surge in occupancy rates and consumer spending. To make the most out of these opportunities, we developed a game plan to help you cater to your international guests and give them priceless memories.

“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

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.

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.

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.

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 minimize 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 optimize your business with financial technology.