Just a few weeks ago, we provided tips for evaluating your hotel’s mid-year performance, so it may seem a bit early to discuss profits for 2015. However, now is actually the ideal time for operators who are considering updating their hotel property management system (PMS) to learn about the steps required in the process.
The hotel PMS selection process is extremely important for independent operators who want to enhance their operations, improve performance and increase profitability. Every hotel has its own specific set of operational needs and technical requirements, so with various hotel PMS software providers in the marketplace, hoteliers must thoroughly research their options to ensure they are making the best investment for their property’s future.
As a partner of the hotel industry, we know the hotel PMS selection process can be time consuming and daunting. This is why we have published our Property Management System Buyer’s Guide to help streamline and simplify the selection of a new system. Within the guide, we have divided the process into three phases: Education, Evaluation and Selection. By following the tips and information provided, operators will have the insight to:
1) Evaluate their hotel’s current needs and future goals.
2) Determine the functions and features required of their new hotel property management system.
3) Select a technology partner who is committed to their hotel’s long-term success.
The timing for independent hoteliers who are looking to purchase a new hotel PMS could not be better. Hospitality industry data providers STR and Tourism Economics have forecasted increases in the U.S. across the hotel industry’s most important performance areas in 2015:
• Occupancy: +0.6%
• Average Daily Rate (ADR): +4.3%
• Revenue Per Available Room (RevPAR): +4.9%
• Demand: +2.2%
• Supply: +1.6%
Though the hotel PMS selection process is challenging, hoteliers can follow our guide and approach the transition with confidence knowing that at its conclusion, their property will be positioned to share in the strong results predicted for next year.
After completing the steps in our Property Management System Buyer’s Guide, we hope that you will partner with innRoad and utilize our cloud-based, all-inclusive hotel PMS software to manage and position your hotel for success. Our system’s core components, Property Management System, Booking Engine, Global Distribution and Revenue Manager, allow operators to optimize their hotel’s performance so greater revenue and profits are achieved. And additional features, such as our Access Anywhere platform, Performance Reporting and premium Data Security, provide operators with a full complement of management tools designed with the specific needs of independent hoteliers in mind.
Take the first step toward a profitable 2015 by downloading innRoad’s Property Management System Buyer’s Guide today.