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Hotel Revenue Management

Having a property management system is a must for hotels and these assist the hotel staff in different hotels operations. The problem with selecting a generic PMS is that they do not always offer solutions for specific issues that the hotel might have.

The solution is to opt for a customized property management system that includes revenue management software.

Some of the benefits of choosing customized PMS are:

Improved service levels:

If you want to stay competitive the levels of customer service have to be of a very high order. As a hotel owner, you have to ensure that guests get only the best customer service from the staff. The higher the levels of customer service the better the hotel reviews and recommendations. A PMs makes it easier to perform day to day tasks much faster. E.g. check-in of the hotel guests and room status updates etc. As billing and booking is an essential part of PMS it also offers the use of online tools for guests. Having a PMS system removes the need to perform repetitive tasks that take time.

Better communication between staff:

As most services are carried on by staff they need to have a clear line of communication and the latest updates. That is where PMs is of immense use and ensures everyone is on the same page. As all of the information is stored in one common system, it becomes easier for staff to work. Another option is to have a messenger service linked to the PMS so no messages are missed by staff. To make things having a customised mobile app linked to the PMS will ensure all staff members receive notifications. This ensures that all the staff are updated and leads to better customer service.

Managing third-party channels:

Since most hotels use third-party channels to maximise bookings like OTAs, it can become a challenge to manage multiple channels and have them updated in real time. This task can be made easy by having all third-party channels integrated into the hotel PMS. Since all bookings are managed at a single place in the PMS the problem of overbooking does not arise.

Effective data management:

The purpose of all those in the hotel business is to constantly improve their business’ performance. The challenge for all hotel businesses is to gather relevant information to analyse key business areas. The most efficient way to gather and analyse data is through the use of the property management system. Since all aspects of the hotel operations are managed by one single unit the PMS, getting reports becomes easy. This data helps to plan your management strategies, which can be beneficial in increasing hotel profitability.

As a norm, most top hotels keep a track of key performance indicators (KPI) like daily average rate, revenue generated per room and gross profit per room. Having a customised property management system in place allows business owners to decide the metrics and reports they will need to plan their revenue and marketing strategies.

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Hotel Revenue Management

With a larger number of hotel bookings made online, direct bookings have become critical to increasing a hotel’s revenues. Consequently, hotel management has started to become innovative in the methods to promote direct bookings and improve the overall customer experience. Upselling and cross-selling are two ways by which both the hotel and guests can benefit.

Using the latest booking engine software can also help to improve customer experience, which in combination with revenue management software can help hotels to increase profitability and better cross and upsell.

Some of the ways to implement cross and up-selling are:

Bespoke service:

The fact is every one of us likes that extra bit of attention to make us feel special and valued. Capitalise on this human feeling by offering them bespoke services and specially personalised upgrades. If a business traveller, you could offer them the use of the fitness centre free. If a family with kids offer them those services which a family needs or perhaps even an upgrade to a bigger room. These are just some of the ways to make the guest feel welcomed and extra special. Ensure that regular guests’ preferences are noted and catered to, the next time they check in at the hotel. When guests are happy the profit margin will see a rise.

Offering accommodation upgrades:

The simplest way to improve guest satisfaction and customer experience is a room upgrade. However, it shouldn’t be on offer before a guest has booked. Only after the booking is over should they get an offer the option to upgrade. This is because if there are multiple options given to the guest before they book, it might leave them in a dilemma what and whether to book at all. Any attempt to upsell is only effective after a booking takes place. Mention the benefits at the time of the offer to make them aware as to the manner in which the upgrade will be of benefit.

Food and drink:

Food and drinks are one area where the hotel can benefit from cross-selling. When planning to cross-sell these the guests must have an experience of the food and drinks on offer to ensure they are satisfied and for the hotel to rake in the benefits. There could the option of choosing between multiple menus to decide which they would prefer to upgrade to. They could skim through the many options before deciding which they would prefer to choose.

Additional Services:

Those booking online are most often interested in package deals. That is where OTAs are highly effective in catering to the needs of travellers. Those hotels that have a variety of additional services like restaurants, spas and any other service can make the most of cross-selling in this scenario. In addition, affiliate partners can be of use to improve cross and up-selling. The bottom line is not about selling any product but rather enhancing customer experience.

These are just a select few ways hotel businesses can increase their overall profitability by implementation of effective cross-selling and up-selling.

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Hotel Revenue Management

Having the right hotel management software is critical in property management across the world. Hotel software is of immense use in daily operations for all types of hotels 5-star properties to B&Bs. While most of the top hotels have migrated to cloud-based hotel management software, others are still undecided as to what type of hotel management software to invest in. Having the right software saves on costs and time for any hotel.

One way to find the most efficient software is to engage a professional hotel marketing solutions company like Digital Hotelier. They offer the best state-of-the-art hotel management software including revenue management software among others. Their experts will analyse your business and help to identify the software best suited for your business needs.

Some of the things to consider when looking for hotel management software are:

Need for hotel management software:

Those with smaller and mid-sized hotel properties frequently have doubts about whether there is any need for them to invest in such software. Questions like the need for, cost and training the staff pop up most frequently. The fact is investing in such software is a prudent decision because:

  • Automation saves time
  • Improves worker productivity with time saved on manually updating the system
  • Provides detailed reports helping to streamline and function more efficiently
  • Helps to improve marketing strategy to raise profitability

Kind of software:

The fact is a selection of software is not subject to the number of properties or rooms at a hotel. There are various flexible models of software to cater to client needs. There are two kinds of software to choose from.

Cloud-based software:

Must more economical and fast with no requirement for hardware of an IT support team. There are various plans to choose from which are pay per month. The benefit of using cloud-based data storage is it is accessible from any part of the world. There is the flexibility for multiple users to log on simultaneously at no extra charge. An added benefit is the plans include support and training for staff. When selecting cloud base hotel management software it must integrate with the hotel website.

On-Prem Software:

Also known as Premise Software as the name suggests the data is stored on site. There is no requirement for an Internet connection and hotel owners have to pay for the complete package. While the hotel owner has complete rights over the software as its owner there is a limitation on the number of people with access to it at a single time. There also is a need to have an IT support team for maintenance.

Of the two, cloud-based software is the ideal option for hotel businesses of all sizes. The benefits offered by cloud-based software are not available using the On-Prem software.

The use of hotel management will improve the overall efficiency of the staff as they will no longer be busy with administrative tasks. The entire process is automatic without any need for manual intervention at any stage. No extra training is of need as it only needs basic computer skills.

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Web Design

Your website is crucial for attracting customers and encouraging them to make a reservation with your hotel. With travellers choosing to research and spend their cash online, it’s more important than ever that your digital presence reflects your brand and makes the booking processes as streamlined as possible. If you’ve decided it’s time for a website overhaul, working with a web designer can be a challenge but asking four key questions first can make sure you select the right professional to work with.

According to a report from ABTA, 76% of UK holidaymakers book their holiday online and even those that choose to book via other means are very likely to conduct some level of research digitally. It gives you an incredible opportunity to reach a wider customer base from around the world but also means there’s a need for your website to meet expectations. Online shoppers are impatient. If a website takes too long to load, is difficult to navigate, or doesn’t meet their needs they’ll simply look elsewhere. That’s why working with an effective hotel web designer that understands your goals is important.

Asking yourself and a web designer these four questions can help you identify the right hotel responsive web design for your hotel.

How will the website align with the hotel’s branding and target market?

Consistent branding is crucial for any hotel, be it a small B and B or larger luxury resort. For established brands, this is an important part of ensuring continuity. Your branding should significantly influence your marketing strategy and your website is a core part of customer awareness. It’s a good idea to have set out the main branding features that you want translated to your new website, such as colour palettes, approved fonts, and logos.

web-designing-strategy

Will the website be responsive?

More bookings are taking place online and a growing share of reservations are coming from mobile devices. In 2016, 36% of consumers booked their holiday via a smartphone or tablet and it’s a trend that’s growing rapidly. It means that hotel responsive web design should be viewed as an essential. Responsive design adapts to the device your customers are using, ensuing a consistently great experience. Research shows that 56% of travellers have found the booking process through a mobile device more difficult compared to using a PC, a barrier that hotel responsive web design can eliminate.

Will the website be custom made?

There are two options when a web designer is building your website – to use pre-made templates or a fully customised design. While templates are the cheaper and quicker option, if you want a website that truly captures your hotel’s brand and style it’s a choice that’s likely to leave you feeling disappointed. Having a custom-made website gives you more freedom and the capability to build in the functions that matter to your business goals, such as integrating revenue management software.

How easy will the website be to maintain and update?

Websites need to be maintained in order to continue functioning as they should. In some cases, web designers will take responsibility for this for an ongoing fee but in others you may need to hire someone. Knowing where you can turn should technical issues arise or an update is necessary can make all the difference to the smooth running of your website.

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