What does the term “cross-promotion” mean in hospitality marketing?

The term "cross-promotion" in hospitality marketing refers to a collaboration between brands to reach a broader audience. This strategy involves two or more businesses partnering to promote each other's products or services, effectively leveraging their combined customer bases. For example, a hotel might partner with a local restaurant to offer guests special discounts, while the restaurant benefits from increased visibility and potential new customers who stay at the hotel. This synergistic approach not only helps to enhance brand exposure but also creates value for both parties involved, leading to a mutually beneficial relationship.

The other options do not accurately define cross-promotion. Some focus too narrowly on a singular aspect, such as rate increases or social media. Others limit the strategy to existing customers rather than embracing the broader goal of expanding reach to new potential customers. Understanding cross-promotion emphasizes the collaborative nature of marketing, highlighting how businesses can work together to enhance their visibility and attract more customers collectively.