Nowadays most properties are using a full-featured Property Management System (PMS) like GuestCentrix connected to a reputable channel manager. However, it seems that a lot of revenue & reservation managers are not using fully integrated revenue management tools. Instead hoteliers are opting to manually log into their channel manager system, many times a day in some cases, to execute yield and revenue management updates.
Here are 3 shortcomings of using a channel manager alone to manage your rates, restrictions and room inventory with your booking partners.
- Applying a stop-sell to an OTA-partner via a channel manager is a blunt instrument and one that is not going to win you friends.
Once you have selected the button that stop-sells a booking site partner for the busy period/s you have coming up then they have NOTHING at all to sell. Put yourself in the OTA’s shoes and ask yourself how would you feel. A better solution is to make inventory available but set limits on the amount of rooms that can be sold by your online booking partners if you are confident you will fill your property. Everybody wins and you maintain a healthy relationship with your business partners.
- Yielding rates from the PMS covers all your bases
Don’t get us wrong channel managers have made life for properties tremendously easier the past 10 years or so. Hotel & hostel operators are able to manage more online booking sites, reach new markets and increase their exposure. However, when it comes to updating ALL the properties booking channels from call centre and front desk reservations to hotel booking engine right through to the myriad of OTA’s that can be ‘connected and controlled’ via a channel manager, there is no better ‘source of truth’ than the PMS. Yielding and updating your rates from your PMS, fully integrated with your channel manager, means that every base is covered.
- Who votes for a simpler life?
Again, we at CMS Hospitality want to say we Vote 1 for channel managers and the great job they do. But, if you’re like most people running a busy hotel or hostel, there are significantly more demands on your time this year than at the same time last year or the year before.
Given you know your peaks and non-peak periods and what’s happening around you, you can set up a range of automated rules in your PMS to increase/decrease rates on ANY room type or group of rooms based on your occupancy. Of course, if things don’t go according to plan you can adjust rates but by setting up smart rules in the PMS that publish to some or all your channels, you can achieve more revenue per room. Conversely, if you need more bookings during quiet times you can simply adjust your settings in the PMS knowing that all changes will publish through the channel manager to your online booking partners. Giving yourself more time by not having one extra system to manage many times per day is surely a winning ticket.
CMS Hospitality understands the challenges faced by Revenue Managers who are under pressure to squeeze every last dollar from their rooms. Using GuestCentrix Web Interface Manager connected to your booking channels will ensure your property is publishing the best rates and you are using your own time efficiently.