Thursday, June 20, 2024

Top 6 Benefits Hotel Property Management Systems Provide To Your Business

Originally, hoteliers weren’t dealing with online bookings. They were collecting very limited information such as a name, residence, room and time of arrival because the majority of their clientele were walk-in guests. But increasingly disruptive innovations and new technologies have changed the way hoteliers run their business and interact with their clientele. Online bookings started to gain traction, making hotel property management systems (PMS) vital for hoteliers striving to boost their revenues. Realising the benefits of a PMS allows hoteliers to modernize daily operations and strengthen overall efficiency. If you are running a hotel business and considering a PMS, read on for details of the benefits these systems provide and what drives their adoption.

Positive underlying drivers for property management systems

  • One of the more recent forecasts outlined that the U.S. hotel industry is projected to experience continued performance growth through 2017.
  • A younger generation of hotel owners or managers together with new build and consolidation activity are all driving new technology adoption, especially PMS.
  • Booking online or through mobile-optimised devices, specifically tablets, is becoming more and more popular among millennials.
  • Integration with major social media and customised marketing strategies is expected to be developed to meet the rising demand.

How to benefit from a hotel property management system

Below you can read about the most critical benefits the hotel property management systems offer. Let’s delve into details:

1. Efficiency-oriented solutions

In today’s fast-paced hospitality landscape hotel daily operations and processes are getting more complicated within the hotel workflow and often take too much time to complete. Hotel property management systems can automate them, creating opportunities for the stuff to better serve their guests and visitors. Implementing a hotel property management solution helps to do a great part of the work and in some cases decrease or eliminate time spent on time-consuming tasks and operations, allowing hoteliers to focus on the bigger picture.

2. Transparency-based communication

Transparency-based communication between different hotel departments is highly essential. They need to work in sync to serve guests optimally. A property management system provides scope for easy and clear communication between all departments, ensures that they all are functioning effectively and efficiently, saving time and offering guests and visitors an improved and more personalised experience.

3. Channels of distribution

Integration of a property management system with a channel management function is hugely beneficial. Hoteliers can advertise across many channels from the large online travel agents (OTAs) and global distribution systems (GDSs) to individual retail travel agents. Your team can manage all bookings within one system generated through these third-party channels (OTAs, GDSs, social media, metasearch) and avoid making major mistakes that could negatively impact the guest experience.

4. Sophisticated revenue tactics

Property management solutions allow hoteliers to implement effective data-driven revenue management strategies, requiring the tracking of key performance indicators (KPIs). Tracking indicators such as average daily rate (ADR), revenue per available room (REVPAR) and gross operating profit per available room (GOPPAR) help hoteliers have a more effective revenue strategy. Moreover, actionable performance data and reports allow them to assess and compare performance over time, helping them make better business-mix decisions and generate more revenue.

5. Streamlined check-ins/outs, bookings and billing

There is nothing more frustrating than waiting for a long time to be checked in or out; these processes should be fast and easy to provide a seamless experience for clientele. A hotel PMS solution helps hotel staff perform tasks and processes, such as check-in/out, guest requests, housekeeping status, room maintenance, bookings, billing option with ease. Hotel managers can quickly execute most of these processes and tasks that will increase productivity and deliver an excellent experience for guests and visitors.

6. Real-time monitoring

If your hotel business operates year-round, requires a 24-hour commitment or you’re a hotelier striving to better control your businesses, property management systems provide great possibilities of flexible remote access from anywhere and at any time. That means a hotel owner or manager can monitor the status of each booking, adjust or change rates, review performance results whenever and wherever.

Bottom line

In a hotel business, there is a wide range of essential property management system solutions that make the administrative operations more easy for hoteliers and help better perform daily activities. Hoteliers can coordinate all hotel reservations, guest data, billing options and other daily tasks streamlining them; improve financial performance and cover the entire experience for guests, including the booking process to capturing guest data for future interaction. Hotel businesses should realise these benefits and focus on digital solutions designed to meet their operational needs and boost their profit.

Hotel Speak
Hotel Speak
Hotel Speak provides actionable hotel marketing and revenue management strategies from hospitality industry experts.

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