Flexible pricing, open-pricing, demand-based pricing, roll pricing, time-based pricing or real-time pricing- Call it what you will. Today, dynamic room pricing is one of the most widely used Hotel revenue management strategy not just in the US but across the world.
Hotel Management Solutions Blog
Sample this – Hotel A has 50 rooms and is mainly dependent on room revenues to stay profitable. Reason – it has only one restaurant, and the management finds it difficult to integrate the traditional server-based PMS with their restaurant POS system. Due to this, they have to manually update the front desk with restaurant bills and other incidental charges to add to the guest folio. Is not it a time-consuming task that can lead to errors like billing discrepancies and even sometimes loss of revenue?
Does your Hotel PMS helps you to automate your daily operations, increase efficiency, reduce costs and saves time? Does it support real time integration through channel manager? If not, read here to know why channel manager integration is crucial for your business.
Regardless of the era, hotels have always had a way to manage their operations- be it registers, excel sheets, legacy systems or the more modern cloud-based Property Management Systems. For each ‘already existing’ system to be replaced with a newer, more relevant upgrade, necessity has played a huge role. And this still holds true. Agreed, PMS has pretty much been accepted and adapted globally as the most efficient way of managing hotels, but this is just one battle won!
In today’s digital era, Data is power. It enables you to gain competitive advantage in the market. Today, almost all industries grow by using data. Hotel industry is struggling hard to be in pace in this data driven business environment to manage hotel operations. When a Hotelier doesn’t know how to collect, analyze and put data into action to improve hotel operation, it becomes tough to survive, let alone strive.
Increasing revenue can be the biggest challenge for independent hoteliers. But having a cloud-based PMS allows you to not just boost revenue but also online reputation, manage hotel better, save time & money!
Finding the most suited online hotel reservation system for your property can be a herculean task, given the number of options one is presented with. This is why it is important to understand those features of a hotel reservation system that are absolute must-haves. But before that, it is essential to know the basic characteristics of a hotel reservation system, so you don’t confuse the basic features with the must-haves!