Maximize your Hotel Revenue with a PMS Software
5 ways hotel owners and operators can use a PMS software to add to their bottom line
A Property Management System (PMS) software is made up of several tools and features that together add efficiency to hotel operations. The best PMS software goes a step further by providing capabilities that not only add efficiency but also maximize a hotel’s revenue.
Here are five ways a PMS software can help boost your hotel’s revenue:
1
A PMS software that provides you with dynamic pricing and automated rate management.
It enables hoteliers to implement dynamic pricing strategies, adjusting room rates based on factors like demand, seasonality, and local events. This optimizes room revenue and maximizes occupancy rates, ensuring optimal pricing at all times.
2
A PMS software that integrates channel management and distribution tools.
It often integrates with channel managers, allowing hoteliers to manage their online distribution channels with much greater efficiency. This helps hotels increase their online presence, reach a wider audience, and improve booking rates.
3
A PMS software that offers hotels upselling and cross-selling opportunities.
It can identify guests’ preferences, habits, and booking history, providing personalized suggestions for room upgrades, amenities, and additional services. This not only enhances the guest experience, but also drives incremental revenue.
4
A PMS software that enhances the guest experience.
It aids in streamlining the check-in and check-out process, providing personalized services, and managing guest requests efficiently. A better guest experience can lead to positive reviews and increased customer loyalty, driving repeat business.
5
A PMS software that facilitates data-driven decision making.
It collects and analyzes data to generate insights on customer behavior, booking trends, and revenue performance. This information helps hoteliers make informed decisions on marketing, pricing, and operational strategies to maximize revenue.
For a PMS software that has everything you need to maximize efficiency and your revenue, check out Visual Matrix. It’s a complete hospitality operating system, featuring an integrated channel manager, an online booking engine, advanced revenue management, a nimble reservation management tool, and more.
You can also add on the Visual Matrix Mobile Operating Platform (MOP) for housekeeping and maintenance, plus additional integrations, for an ideal solution that’s right on the money.
References
Hoare, S. (2018). Hotel technology: The future is now. Hotel Management International, 39, 40-43.
Kalogianni, A. (2019). Hotel Property Management Systems: Products and Features. Journal of Tourism & Hospitality, 8(3), 1-9.
Ozturk, A. B., & Bilgihan, A. (2020). Smart technologies in hotel revenue management: Applications, benefits and challenges. International Journal of Contemporary Hospitality Management, 32(6), 2067-2090.
Tussyadiah, I. P., & Inversini, A. (2018). Smart destinations: Foundations, applications and prospects. e-Review of Tourism Research, 16(2/3), 119-127.