Customer lifetime value (CLV) is a key metric that measures the total value a customer brings to a hospitality business over the course of their relationship with the brand. It’s a vital metric in the competitive hospitality and travel marketing industries. CLV takes into account a customer’s entire relationship with a brand, including:
*The amount they’re likely to spend on repeat stays
*How often they book with the business
*The gross profit made from their business
*Their churn rate
CLV helps businesses: Identify high-value customers, Tailor marketing and sales efforts to those customers, and Improve profitability.
