When asked how you would assess the integration between your property management system (PMS), Central Reservation System (CRS) and Revenue Optimization (RO), over 75% of webinar attendees indicated that their systems are not integrated at all, their systems are not fully integrated, or that the integrated systems do not communicate well. To address this issue, here are the five key topics covered in the webinar:
1. The key factors that indicate a changing economy and the needed shift in today’s hotel technology strategy:
The hotel market is starting to slow, with an easing of RevPAR growth to a predicted 2.3%. This means prices are going to decline, with some online booking engines reporting Las Vegas prices down 39% and New York City down 32%. With this softening market, growing hotel room pipeline, and easing demand, hoteliers will find it difficult to keep their rates up, let alone increase them. Thus, it is time for hoteliers to take control of their technology to ensure the best possible outcome.
2. Positioning your PMS as a hub to maximize connectivity of your technology solutions:
Connecting seamlessly to your CRS is vital to ensure that you are managing rates and reservations to maximize room sells. A CRS with an extensive reach to OTA’s and major GDS’s is essential for this.
Additionally, your PMS should be leveraging the power of revenue optimization, or RO. RO is all about intelligent analysis, as rate management requires recognizing trends, qualifying marketing, and forecasting while compensating for a number of one-off events.
The new PMS company focuses on being best-of-breed for in-house operations, but is built on an open structure so that it can easily integrate with other best-of-breed 3rd party software via API’s. This allows you to use a minimal amount of code while still being able to handle the various business rules, and allows hotels to select perfect combinations of software features to meet specific needs — all while saving money and time! New PMS’ are based on mobility and choice, and generate more time for both parties by being available to guests and staff anywhere. Additionally, service, upsells, and upgrades become instantaneous, going from a mere notion to a fulfilled request in the PMS in zero time.
