In this day and age, every hotelier knows that a PMS can help you regulate bookings, operations and the inner workings of his/her business. But did you know that your PMS can increase your overall ROI? Here’s how:
Tracking Guest Behaviour
The guest is the backbone and the bottom line of every hotelier’s business and customer retention is key. If your guests are leaving with a smile on their face, you can use that satisfaction as a retargeting tool and an automated PMS can help you track their behaviour preferences offering them a more personalised experience if they come back. This personalization creates loyalty and repeated visits.
Creates Upsell and Cross-Sell Opportunities
Now that we know that guests are willing to pay more for services which are tailored to their preferences, the right PMS and data integration can access patterns of guest behavior, spending, and preferences over their entire journey giving you upselling and cross selling opportunities. For example; analyzing data provided on a guest’s buying patterns can effectively upsell a room type or cross-sell promotions and services to guests before their arrival.
Channel Manager Monitoring Can Decrease Operation Costs
The Channel Manager can streamline over 250 booking avenues and online travel agencies. With that said, it simultaneously enables you to track the revenue gained by each and every one of these avenues. Now you can discover which booking channel provides most of the revenue and which ones do not, effectively calculating opportunity costs and customer acquisition.
Revenue Management Can Calculate Accurate OTA Revenue
Online Travel Agencies (OTAs) such as Expedia, Agoda and Booking.com are good sources of revenue, but they can be a double-edged sword. This is because they also eat up a chunk of potential revenue in the form of commissions. This is where the revenue management in your PMS can assist you. It can monitor the flow of OTA revenue and with the correct data, effectively control the incoming and outgoing commissions, saving money that you didn’t know you were giving to your OTAs.
An integrated PMS system can provide you with tools and data that allow you to cut operation costs, save money from OTAs, increase direct bookings and ultimately retain customers by building loyalty.