5 Ways a Cloud-Based Property Management System (PMS) Can Increase Your Hotel’s Revenue
With a cloud-base Property Management System at the heart of your hotel’s operations, you have all the tools to take your revenue to new heights of success.
Cloud-based Property Management Systems (PMS), such as the Visual Matrix PMS, have revolutionized how hoteliers manage their properties and can significantly contribute to increased revenue.
Here are five ways a cloud-based PMS impacts your hotel's operations and can bring in more revenue for your hotel.
A cloud-based PMS…
1. Improves Efficiency and Productivity
One of the primary advantages of a cloud-based PMS is its ability to streamline hotel operations. Traditional PMS software often requires manual data entry and reconciliation, leading to errors and inefficiencies. With a cloud-based system, your staff can access information from anywhere, reducing time spent on administrative tasks and enabling them to focus more on providing excellent guest service.
With increased efficiency, you can manage your property more effectively, resulting in cost savings and increased profitability. For example, with real-time room availability and pricing data, hoteliers can optimize room rates and inventory to maximize revenue during peak seasons and minimize vacancies during off-peak times.
For more information on the subject, check out the links below to see how Visual Matrix can help you improve Efficiency and Productivity. To see these features live, schedule a quick demo.
- Streamline hotel operations with Revenue Management Live!
- Get Competitor insight from anywhere.
- Communicate between an OTA and Visual Matrix
- Visual Matrix ID Scanner Tips
- Manage your property more effectively with MOP
2. Enhances the Guest Experience
Cloud-based PMS systems empower hoteliers to provide a personalized and seamless guest experience. They store guest preferences and history, allowing your staff to offer tailored services, such as room upgrades or special amenities.
As a result, happy guests are more likely to return and leave positive reviews, which can boost your hotel's reputation and attract new customers. Satisfied guests are also more likely to spend on additional services, like dining, spa treatments, and room upgrades, increasing your ancillary revenue.
For more information, check out the links below to see how Visual Matrix can help enhance your guest's experience. Want to see the features in action? Schedule a quick demo here.
3. Provides Dynamic Pricing and Revenue Management
Cloud-based PMS solutions often include revenue management tools that leverage data analytics to set optimal room rates in real-time. They maximize your revenue by considering demand, competitor pricing, and historical booking data, and you can implement dynamic pricing strategies to adjust rates based on demand fluctuations, special events, and market trends.
By implementing dynamic pricing, you can achieve higher average daily rates (ADR) and revenue per available room (RevPAR). This data-driven approach helps you make better-informed decisions, ensuring you capture the most revenue from available inventory.
To learn more about what a revenue management system can do, click here to read about Visual Matrix's Revenue Management Live feature. Want to see one in action? Schedule a quick demo here.
4. Offers Distribution Channel Management
Cloud-based PMS systems enable streamlined and efficient distribution channel management. They integrate with various online travel agencies (OTAs), global distribution systems (GDS), and direct booking engines to ensure your room availability and pricing are synchronized across all platforms in real-time.
Effective channel management helps you expand your reach to a global audience, increase online visibility, and capture bookings from diverse sources. By minimizing overbookings and underutilized inventory, you can optimize revenue and reduce costly commission fees associated with last-minute bookings.
For more information on the subject, follow the links below to read how Visual Matrix Channel Management features work. Want to see one work in real time? Schedule a demo.
- Communication between OTA's and the Visual Matrix PMS
- Visual Matrix Room Availability Screen (Overview)
5. Enables Data-Driven Decision Making
Cloud-based PMS software generates a wealth of data related to guest behavior, booking patterns, and revenue performance. You can harness this data to make informed decisions and implement targeted marketing strategies. For example, you can identify peak booking times at your hotel and run promotions during slow periods to attract more guests.
Data analytics can also help you identify trends and preferences so you can customize packages and offers that resonate with your target audience. Advanced Sellout Reports available with Visual Matrix help with this approach by showing you how far in advance reservations are being booked.
Another way to generate revenue related to guest behaviors is by analyzing guest feedback and satisfaction scores. Hoteliers can continuously improve their services, leading to higher guest retention and referrals with online or internal experience review systems.
For more information, check out the links below to see how these partners with Visual Matrix, can help with enabling data-driven decision making. Want to learn even more about these partners and the Visual Matrix PMS? Schedule a quick demo here.
- Get help with marketing strategies from Clairvoyix
- Get help with guest behaviors and guest feedback from VenueLytics
And the list goes on. It’s clear that a cloud-based Property Management System offers hoteliers a range of tools and capabilities to increase revenue and profitability.
Investing in a robust cloud-based PMS that grows with you is a strategic move for hotels looking to thrive in the competitive marketplace today and in the future.
For a demo of the Visual Matrix PMS and industry-leading mobile housekeeping tool, MOP, click here to schedule a quick 15-minute demo, or visit visualmatrix.com to learn more.
About Visual Matrix
More than 3,000 properties in 30+ countries worldwide choose the Visual Matrix hospitality operating platform to optimize hotel operations and serve guests from reservation to return stay. Our system includes a game-changing PMS and housekeeping & maintenance app (MOP) for use with Visual Matrix and most other PMS systems. Our PMS offers powerful features and key integrations that are easy to use, like revenue management with automated rate/discount tiering, a fully integrated channel manager, and a mobile app for tracking performance on the go. MOP automates routine tasks and streamlines communication to keep the front desk, housekeeping, and maintenance staff focused on guests. It also includes a built-in panic button as an Emergency Safety Device to help keep hotel staff from harm. For more information, visit visualmatrix.com.
