How Does a Property Management System Save you Money?
A property management system is essential to the efficient management of room inventory, handling online payments, and improving the productivity of daily tasks. But a comprehensive PMS also has a direct effect on a hotel’s bottom line.
Integrating a property management system with your hotel’s website along with third-party software will result in a significant impact on your hotel’s operational efficiency and revenue. But how?
We asked our Sales and New Business Development Manager, Sharon, to share her expert advice on how a property management system can save a hotel money.
It Saves Time on Manual Admin
One of the most significant advantages of a property management system is that it prioritises efficiency at the core of its purpose. Streamlining operations allows hoteliers to establish staff roles and responsibilities better, saving time spent on manual administration. A cloud-based PMS saves hotels a lot of time across multiple areas.
It helps to get Personal with Guests and Up/Cross-sell Opportunites
A PMS with an integrated CRM system enables you to save guest data across every touchpoint along their booking journey.
By capturing and analysing that data, you can recognise and understand your guests’ behaviour patterns, spending habits, and specific choices.
This enables you to engage with your guests on a more personal level. Communicating offers and upsells tailored to your guests’ preferences helps to increase revenue throughout the quiet seasons.
Identifying and targeting those who are likely to upgrade or add-on services, such as spa treatments or a round of golf, next time they book will increase guest spending.
Understanding the Importance of Using a Channel Manager will, in turn, Save you Money
Potential guests are presented with more options than ever when searching for hotel accommodation online these days.
While distributing room rates across all major OTAs is fundamental to securing bookings, online travel agencies use up a significant revenue amount by charging high commission rates.
However, as well as reducing overbookings, a channel manager helps you increase revenue. If you receive a cancellation, your channel manager will immediately re-list that room back online, providing you with the best chance of securing a quick re-booking.
Access Everything you Need Anytime, from Anywhere
Accessing information via a mobile device is essential in this digital age. A fully responsive and mobile-friendly PMS ensures you are always aware of what’s happening at your hotel. This also helps with making last-minute decisions such as remotely updating room rates or posting last minute offers.
If you would like to find out more about how a property management system can save you money and increase your revenue, book a demo, and we’ll walk through our all-in-one cloud-based platform.