A Hotel Property Management System (Hotel PMS System) is a solution that streamlines and automates the daily operations of a hotel. It is a powerful tool that efficiently enables hotel managers/owners to manage guest reservations, room assignments, check-ins, check-outs, billing, housekeeping, and many other essential tasks. There is more to it. Hotel PMS System, or hotel management software, is crucial for generating more revenue. Let's see how.
Here we go.
To increase hotel revenue, you must start with the right Hotel PMS System - a cloud one. It should be your very first step towards achieving your revenue goals. You can save big on software ownership costs as you don't have to invest in costly hardware, servers, patch updates, security measures, etc.
As a standalone hotel owner, whether transitioning from an on-premises PMS or new to the technology, migrating to the cloud allows for a quicker go-live. Similarly, the management at a hotel group can rely on cloud-based Hotel PMS with multi-property management features to add and go live with new properties quickly.
Here are a few ways a Cloud Hotel PMS System helps generate more hotel revenue.
More online room sales
A cloud-based PMS can easily integrate with other third-party hospitality solutions like a hotel channel manager. The integration allows real-time rates and inventory updates across multiple online sales channels, including OTAs and metasearch engines. It leads to rate and inventory parity, improved channel visibility, and enhanced market reach to attract a broader traveler base. Ultimately, all these result in more sales and revenue.
It is crucial to consider the integration of a booking engine in this context. Doing so will enable you to increase the number of direct bookings made through your hotel's website. By receiving more direct bookings, you can avoid paying commissions to booking agents, which helps you earn more revenue.
Enhanced TA and corporate sales
With a feature-rich cloud Hotel PMS System, you can allow your enlisted offline travel agents and corporate clients to log in to the system, check availability, and make their reservations on their own. This way, your travel agents and corporate clients can experience a simpler and hassle-free booking experience while saving time.
Improved non-room revenue
Non-room revenue is one of the most critical factors in your hotel's overall revenue. That's why you must focus on selling more via your F&B outlets, coffee shops, gift shops, gyms, spas, etc. This is where a cloud Hotel PMS can help you by setting up unlimited Point of Sale (POS) outlets at no extra cost. The more in-house outlets you have, the higher your non-room item sales and revenue.
Efficient revenue/rate management
Cloud-based Hotel PMSs come with some of the rate management features. For example, you can change your room rates daily or weekly as per your needs to sell more rooms. The dynamic pricing feature allows you to sell at the best rates to increase sales, occupancy, and revenue based on your hotel's occupancy, guests' booking window, length of stay, etc. Additionally, integrating a hotel PMS and revenue management system also helps drive revenue by automatically suggesting optimized room rates based on demand forecast, competition pricing, etc.
Selling more packages
Independent hotel or a group - a cloud-based Hotel PMS System allows you to configure unlimited promotional packages to drive sales. Do you want to publish one package for all your properties in the group? Just publish it for all the booking sources at the central level. You can create different packages for each property with a cloud Hotel PMS. You can also apply booking and cancellation policies and discounts for extended stays, early-bird bookings, and last-minute bookings to sell more rooms and increase revenue.
A cloud-based Hotel PMS System's contribution towards helping you generate more revenue is not limited to the points mentioned above. For example, it lets you offer contactless services to improve their experience. Automating operations saves time and allows your staff to attend to guests' needs. With all these, a cloud Hotel PMS is now more than just a tool to automate operations. Instead, with changing business dynamics, it has become a must-have solution to drive sales and revenue.