Things you need to know before investing in a PMS

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2. Things You Need To Know Before Investing In A PMS
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3. The property management system is the storehouse of a lot of
important information. In a limited capacity, it is a big data centre
for the hotels where all the information on the guests like buying
habits, trends, patterns etc. is captured
The PMS also holds information on the reservation trends,
sources of business, the sale patterns for rooms, point of
sales and other add-ons.
By accumulating this information and analysing it in the correct
manner, we can provide a lot of foresight and help in forecasting
and strategizing in order to improve the hotel business
The art of being able to constantly improve processes and
performance begins with asking the right questions. Here are
questions that hotel’s need to ask their property management
service providers to achieve improved revenues.
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4. Property Management System and Customer Profiling
Knowing your customer is the first step towards formulating a
strategy to improve guest service and bring in a guest centric
culture
The PMS should be able to give you a report on the guest history,
buying trends and number of repeat guests
Customer profiling can give you an indication on the type of
guests that visit your hotel like corporate guests, leisure guests,
families, singles etc
This information can be very important in building the guest
persona and marketing strategies around them
You can also get an idea of the repeat guests and areas that need
to be focussed on. This can help bring in ideas for promotions,
special benefits and member services for repeat guests
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5. Sources of Business
 The property management system should be able to give a
concise and in depth report on the sources of business like
where are the reservations coming from?
What is the percentage of bookings coming from your online
channels like OTAs, GDS? What is the share of booking from your
own marketing channels like hotel website and call centre?
Lastly, how is the performance of your third party vendors –
travel agents and corporate account?
All this information is important for the hotelier to decide which
source of business is most profitable, which source needs more
focus and which source is draining our resources with least
output
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6. Yes, property management systems can help in maximizing
both
Reports on room occupancy can help predict the low season
and the rush season and help the hoteliers plan the offers and
promotions in advance.
Also, reports on what packages and promotions have worked
the best can help hoteliers create packages based on previous
trends
Another possibility for increased revenues is the add-ons.
Looking at the reports from the PMS, information can be
derived on which add-ons sell the most
How to Maximize Room Inventory and RevPAR?
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7.  With integrated revenue management and PMS reports, you
can learn more on your pricing strategy and consumer
behaviour to see what works and what doesn’t
 So, before opting for a property management system, make
sure you keep in mind all the above criteria in order to optimize
and improve your hotel’s performance and increase revenue
 A free trial definitely helps in understanding the property
management system well before buying it. Click here to know
more about it
CONCLUSION
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8. Thank You
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