iVvy | November 28, 2023

Tired of outdated hotel management methods that leave guests feeling unimpressed and your revenue stagnant?

We’ve rounded up four tech tools that are sure to boost your hotel’s bottom line. From virtual tours that transport guests from screens to your suites, to cloud-based systems that ensure your staff stays connected, these tools are a must-have for any hotelier looking to stay ahead of the curve.

For the full list, download iVvy’s free ebook ‘The Definitive Guide to Hospitality Technology’ – click here

 

Virtual Tours

Studies have shown that hotels that showcase virtual tours on their website see customers spending 5-10 times longer on their website, getting 50% more clicks, and 87% more views. More importantly, 75% of potential customers say virtual tours positively impact purchasing decisions – and for good reason. Virtual tours can boost revenue by enabling potential guests and clients to walk through the hotel premises, view rooms and amenities, and see the views from a first-person viewpoint, just like they would in person.

Virtual tours have also become an increasingly popular content type on websites and social media platforms such as Facebook, Twitter, Instagram, and YouTube. They are an effective tool for boosting hotel SEO, reaching new audiences, and engaging with customers.

The best news? A virtual tour of a hotel can be created without the need for VR headsets or exclusive technology. Specialised cameras and apps are used to create a 360-degree, interactive photo or video environment that customers can enjoy on their smartphones, computers, or tablets.

Property Management Systems

Using a PMS to consolidate your booking channels can work wonders for your property. By reducing risks of duplication and human error, you can keep guests and staff happy. On the other hand, when your systems are out of sync, it can lead to overbookings and lost revenue. Overbookings not only cost you immediate revenue but damage your reputation and can lead to a loss of future bookings.

Calculating commissions for Online Travel Agencies (OTAs) and Travel Agents is a necessary but often challenging task for hoteliers. Manual systems can lead to overpaying commissions for more bookings than made, resulting in financial losses. Modern PMS offers automated commission reports that provide accurate and real-time information about reservations made through OTAs and Travel Agents. These reports can help you pay commissions accurately, avoiding discrepancies or disputes.

Cash handling mistakes in the hospitality industry can lead to an average loss of $1,000 per year for most properties. Property management systems enable hoteliers to keep track of all cash transactions, review transaction totals at the end of each shift and detect any discrepancies with just a few clicks. This is a must-have for properties to maintain accurate financial records and avoid any potential losses.

With the help of an efficient PMS, hotel owners can also identify whether the adjustments made are legitimate, and who was responsible for making them. Adjustment reports generated by a PMS can help hoteliers identify accounting errors, such as when a reservation agent changes a reservation and accidentally changes the rate to the wrong price. By leveraging adjustment reports, hotel owners can ensure that every dollar the property should have collected is accounted for, and they can also identify training needs among their staff.

Cloud-Based Technology

Cloud services have revolutionised the way hotel employees access and manage information. With the help of cloud-based systems, hotel staff can now access critical data from any device anywhere in the world. Whether on the hotel grounds with a tablet or miles away with a smartphone, employees can easily connect to various hotel back-office systems and share real-time updates from anywhere.

Cloud-based management systems can easily integrate with other software applications from different providers. Hoteliers can add new features to existing systems at a lower cost without disrupting operations.

Additionally, traditional on-site hotel management software can be expensive to maintain and run. Cloud-based software providers offer flexible pricing models that help to reduce IT costs substantially. Since cloud-based systems do not require hardware, even small-sized hotels can run an advanced management system. Cloud service providers manage software updates and bug fixes, freeing hotel staff to focus on critical tasks.

Instant Booking Engines

An instant booking engine is a great way to encourage direct bookings without the need for third-party intermediaries or online travel agencies (OTAs). This can help to reduce commission fees, allowing hotels to retain a larger portion of booking revenue.

Instant booking engines provide guests with real-time availability and pricing information, as well as a user-friendly interface and detailed descriptions of rooms, amenities, and event spaces.

This streamlined process enhances the overall guest experience.

Additionally, instant booking engines enable guests to make reservations at any time, regardless of operational hours. This convenience caters to different time zones and those who prefer to plan and book outside of traditional business hours.

 

Free eBook: The Definitive Guide to Hospitality Technology

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