Your central reservation system (CRS) is one of the most important assets in your hotel’s overall marketing arsenal. (Yes, marketing… because pricing is one of the four “Ps” of marketing)
It distributes rates and inventory to the online travel agencies (OTAs), global distribution system (GDS) and other critical endpoints in the distribution food chain, as well as (most importantly) your own direct booking engine. It also provides a centralized repository of where your rooms are being booked across all channels… and at what rates.
Lately, more and more hoteliers are waking up to the realization that their boring, old CRS platform may have untapped capabilities that can deliver an unexpected, new competitive edge.
Here’s why hoteliers are pushing their CRS vendors to step up their game:
1. As ADRs and occupancies reach all-time highs, and new supply bloats a comp set, smart hoteliers are pushing their all their tech partners to do more…
2. OTAs have teams of data scientists and highly evolved digital tech and systems of their own, designed to siphon and convert bookings from all the other channels where your CRS distributes inventory and rates
3. Technology has changed. What used to be costly upgrades are now standard, but many hoteliers are unaware of the power of new CRS tech, and some vendors aren’t doing a great job of communicating these changes
4. Turnover among hotel revenue managers leaves new employees who are responsible for the CRS, but possess an incomplete understanding of the power of the system
5. Revenue management teams are often unaware of new features or best practices espoused by the CRS vendor. These best practices could help the revenue management team save time, be more efficient and avoid redundant tasks.
Now that we know WHY hotels are putting more pressure on their CRS vendors, what exactly are they asking for?
Here four of their most common demands:
