No hotelier needs to be convinced of the importance of listing their properties on multiple online platforms. In fact, the average independent hotel is listed on 5 to 7 different channels.
NB: This is an article from DerbySoft
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Today’s guests demand instant availability and pricing, whether on Google, Online Travel Agents (OTAs) like Expedia, or your independent hotel’s own website. Yet, manually updating these details across the web can eat up hours per day. What’s more, inaccurate or out-of-date information on even one booking platform can lead to lost revenue and administrative headaches.
Enter the channel manager, a vital solution that automatically lists real-time pricing, availability, and other details across multiple channels, increasing visibility, occupancy rates, and, ultimately, profit. Channel managers can save hoteliers up to 4 hours a day in manual inventory management and increase revenue by 15 to 20%.
While a channel manager is a must-have for any savvy, independent hotelier, selecting the right channel management partner can be daunting. Below are some key features you should look for.
1 – Connectivity to Your Guests Wherever They Book
It’s crucial that any channel manager you consider is seamlessly connected with the key players in selling hotel inventory, including Global Distribution Systems (GDS) such as Amadeus, Sabre, and Travelport, and OTAs like Booking.com, Agoda, and Expedia. Ensuring your properties have correct availability and pricing on these platforms will help you reach a larger audience and maximize online visibility.
However, you’ll also want to prioritize channel managers with connections to channels that target your property’s preferred guests and their unique needs. For example, if your hotel sees many guests from China, you’ll want a channel manager that offers integrations with a variety of Chinese OTAs. If your accommodation offers an activity like golf, your channel manager should partner with platforms that cater to golf enthusiasts.
Pro Tip: The more connection options you have through your channel manager, the more opportunities you’ll have to grow visibility and revenue. Review the full list of connections offered by the vendor closely.
2 – Dependable, Real-Time Inventory Updates Across Channels
Client-facing strategies to deal with overbooking and pricing discrepancies have become part of every independent hotel’s arsenal. But do they have to be?
A truly effective channel manager should minimize these issues with to-the-second inventory updates consistently being rolled out across all channels. However, in practice, some channel management providers have more efficient data transfer times than others. For this reason, choosing a channel manager with top-of-class update speeds is essential. Reliable, real-time synchronization will help avoid inaccurate pricing and availability and allow you to make immediate adjustments to capitalize on market demand or match competitor pricing, giving your hotel a competitive edge.
Pro Tip: Make sure you ask specific questions about the vendor’s transfer speeds.
3 – Smooth and Stress-Free Integration with Your Current Systems
It can be frustrating to allocate the time and effort to adopt a new technology solution only to discover it doesn’t fit with your hotel’s current processes.
Your ideal channel manager should seamlessly integrate with your existing property management system (PMS). A smooth partnership between the two will allow you to update inventory and rates instantly and retrieve reservations from different online channels. Automating the transfer of this type of data sharply reduces human error and reclaims hundreds of work hours.
The right channel manager can also be integrated with your central reservation system (CRS), letting you manage reservations from all distribution channels in one place, and your revenue management system (RMS), allowing you to optimize pricing strategies. By sharing data with the RMS, the channel manager can receive insights and recommendations on pricing adjustments based on market demand, competitor rates, and other factors. This integration empowers hoteliers to make informed decisions and maximize revenue.
Pro Tip: Ensure your channel manager links with your accounting and financial systems, letting you smoothly transfer bookings, payments, and invoices.
