Managing a property in 2018 takes a lot more than you think it does! A Property Management System plays a very important role in keeping the hotels running with ease and comfort. It is vital for all the daily chores of a hotel business. It is thus very necessary for a hotel to get technically equipped and have software in place to tackle the property management work.
Your property management system is and should be, well equipped to handle the entire guest journey – from the minute they start searching for a room on a website to the moment they check out from their room. A hotel PMS has become indispensable in the current scenario to be efficient with the property management work.
Along these lines, a property management system ends up being an irreplaceable instrument that is urgent in smooth working of lodging and can be one of the property’s greatest resources. Having a framework that makes front desk work processes simple, will make a consistent visitor experience. With the plenitude of new innovation in the PMS industry, there is no time like the present to overhaul your PMS. Finding the right hotel PMS is an essential task of a hotelier to make sure all tasks are completed with greater efficiency and accuracy.
Let’s Talk About The Importance of a Property Management System in The Hotel Industry
PMS has advanced dramatically overtime and more noteworthy integrations offer facilities that expand well past the front work area. It is now an important system that enables hoteliers to deliver a faultless guest experience. Presently, it incorporates other on-location services that affect the guest’’s total involvement, such as housekeeping, distribution across numerous channels, managing the revenues, food and beverage operations, etc. It further helps the hoteliers to stay in touch with their guests even after they have checked out to make a good brand image into the minds of the guests, guaranteeing repeated visit and thus helping in developing the business.
Lesser Time Spent On Administrative Task And Lesser Paperwork
You can limit the measure of time spent on authoritative errands. The correct hotel PMS will complete a great deal of the work for you, enabling you to focus your attention and your vitality on the more important tasks The innovation ought to likewise furnish you with profitable information on how your workers play out their obligations and how this influences representative maintenance, fulfillment, and profitability.
Bigger Online Presence
An efficient hotel PMS will allow you to get listed on and manage multiple online platforms. Managing inventory and rates across all such platforms without a PMS in place becomes a difficult task as there is no centralized system to manage them. The larger online presence will consequently reap bigger revenues for the hotels. Also, it will increase a hotelier’s online presence and help a guest during their journey of booking a hotel.
Flexible Rate Management
With a Property Management System in place, you will have great flexibility in deciding what rates you want to throw in the market for your property at any given point of time. A hotel PMS helps you to plan your rates deep into the future a lot in advance, thereby allowing you to be more efficient in deciding your pricing strategies. This is a big factor that influences the direct revenues of the hotel. Pricing your rooms right is the way to prevailing in this aggressive industry, and having these instruments accessible can help you fundamentally as it is one of the most important property management work.
Increase In The Number Of Bookings
With all of the above-mentioned things, it is quite clear how the PMS will inevitably help you in increasing the occupancy by increasing the chances of getting a booking for your property. The most integral function of a property management system is to help the hotelier in managing the bookings that he gets, right from the point where a customer is searching for a hotel to the point the customer checks out from the hotel.Selecting the right hotel PMS thus becomes very important as there is not one, but multiple things to look out for while choosing.
Important Features You Need to Know About Property Management Systems
A Smart Calendar
The first and the foremost in a hotel PMS is an interactive calendar. It gives the hoteliers, the ease to see their reservations and availability in a very convenient and different way. The smarter systems offer a centralised reservation system to capture booking from all possible sources with the guest details at one single place which you may call a reservation chart. You will find it a lot easier to create offline bookings once you have a PMS in place that offers a smart calendar/chart.
A standout amongst the most critical highlights of a property management system is rate planning. In the present market, your room rates are likely influenced by a couple of various factors including, season, day, and so on. In this way, unique rate designs are of utmost essential. A decent hotel PMS will enable you to make rate designs and inferred rate designs and afterword effortlessly appoint them to reservations. Not only this, the most advanced PMS will allow you to plan multiple rate plans for deep into the future so that you don’t have to manually interfere every now and then to throw new rates.
A Channel Manager Integrated in The Property Management System
Distribution of inventory across all major online travel agents and making it available for the guests is the most important, efficient and profitable way for the small businesses to compete with large sized hotels. Online travel agents sell a hotel’s inventory further to the guests at discounted rates which ensures the sales for hotels. The challenge comes when hoteliers list their inventory in multiple Online travel agent websites. Managing the inventory and prices on every such OTA becomes a hard task as it requires logging in to each OTA and keeping a track of things. This problem is solved by a Channel Manager. A channel manager is a platform wherein a hotelier can update the inventory and prices on each OTA from a single place. In the present scenario where online business comprises for most of the revenue for small and medium-sized hotels, keeping the inventory updated and making price parity a priority, a channel manager is of utmost importance.
Daily/Weekly/Monthly Reports & Analytics
Like any other line of business, the hospitality business also requires reporting of all types to ensure that the operations are well on track to achieving the goals and profits. A propelled property management system will make sure that the hotelier gets daily/weekly/monthly reports like the sales reports, manager reports, account receivable reports, inventory availability reports etc. Through these reports and analytics, hoteliers should on a daily basis be aware about the RevPAR, occupancy in his property, ARR, the pre-booking patterns, reports of the revenue, taxes, staff activities etc.
Direct Book Feature
Direct bookings are the goals of a hotelier in the longer-term. It is true that online travel agents help a lot in increasing the occupancy, but it is also to be noted that they charge a hefty commission in every booking they provide to the hotelier. Their commission is also dynamic and on a given day can increase to a very high percentage. Thus, a mechanism, to have bookings coming for your property through your own platform – the hotel’s website becomes very important. It should be one of the tasks of a hotelier to be able to redirect their guests to their hotel’s website which already has a direct booking engine in place and also a mechanism to collect payments online only. A good booking engine will be able to show the pictures of the rooms, their availabilities, their prices along with various packages.
A Smart Point Of Sales
Point of Sales is the most underrated feature of a Property Management System. A good POS will enable you to keep the guest satisfaction in mind and help you settle their dues from any service shop at the stage as preferred by them. Guests ordering a lot of food during their stay? No problem, a POS will help you keep a track and do the invoicing for every little thing.
A very important feature to look out for in a property management system is the databases. To begin with, a good cloud-based software will have customer databases in place to help the hoteliers keep a record of all the customers that have at their property and what their preferences are. This lets them help those return customers with their choices and build a good relationship with them. The databases don’t end there. The complete hotel PMS will offer you various more databases like Agents database, invoice database, bookings database, payments database etc.