Tags ArchivesProperty Management System

Choosing the Right Property Management System video

Choosing the right Property Management System for your hotel is a tough decision. Taking this decision requires patience to do the research to find your requirements and then you can qualify and decide which Property Management Software is best for you. Factors to consider while choosing your Hotel’s Property Management System. Does your property need a cloud based PMS. Make sure you consider the advantages of a cloud based PMS. How much OTA contribution does the property need. What OTA’s are supported by the PMS. What other interfaces are needed at the property. Does your hotel need Group Booking functionality. What all sub-modules for Group Bookings are needed. Does your hotel need the Direct Bill functionality. What all sub-modules of ...

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Revenue Management, Budget Analysis standard

Define check points for revenue analysis. Typically we can do this every week, or every 2 weeks. Define growth goals, for example we can set it to be 10% over last years real numbers. Check Rooms Remaining to sell, and revenue in books at every point. If rooms are moving to quick, perhaps your pricing is low. If rooms are not moving, prices might be high. Use the following reports for your revenue management. Room Available | Room Sold Report or Between Dates Room Sold | Room Available Report Group By Room Type Booking Curve Summary Monthly OTA Reservation Report Specifically look at peaks and lows in the competition rate analysis tool      

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