The COVID-19 pandemic has affected hotel businesses worldwide abysmally. The disruptions caused by this ill-famed virus has put hotels all around the world on halt. And at this point in time, the focus of most of the businesses is the safety of its employees and guests.
One of the major factors that is playing a critical role in putting hotel business in danger is the sudden business and cash crunch. Many hotels around the world are trying every other way to recover, however, not every hotel seems to be succeeding.
While cities are under lockdown and business are extensively low, it is important for hotels to understand the ways they can manage their cash flow and manage the hotel as efficiently as possible.
One of the segments of the hotel industry that needs to focus more on this aspect is ‘Multi-Property Hotels’ as they are hit hard by this current chaos.
In this article, we are going to talk about the points that would help multi-properties not only manage their cash flow but also manage their properties seamlessly during this time of crisis.
The Challenges Multi-Property Faces
Managing a multi-property is definitely not an easy task. The major challenge for hoteliers in running multiple properties is to juggle between room inventories, rates, reservations and departments which leads to errors and loss of opportunities due to dynamic changes in room availabilities and rates.
Typically, hotel owners use individual management systems for each property and they are usually set up in a different location, therefore, monitoring and analyzing interactions with the business center becomes cumbersome.
That is not all, having this kind of a management system setup poses several other challenges such as an increase in expense and difficulty in making effective business decisions.
Hoteliers need to hire more staff and train them to use the management system they have in place. And this increases the cost significantly. when it comes to decision making, hoteliers have to keep an eye on all the factors for each property, separately. They have to analyse reports from each property’s system, making it a hectic task.
Even a single property struggles without the right PMS and for multi-properties, the management is bigger and if there are no adequate technology tools, it may result in severe slip-ups.
And now, as the hotel industry is going through such a difficult time with low business and cash flow, multi-property owners need a solution that not only feels light on their budget but also helps them increase their revenue to help them bounce back from this COVID-19 chaos.
Turn To Cloud-Based Hotel PMS
Hotel technology has evolved over time, and now, hoteliers don’t have to use various systems to handle each property and work on multiple systems to monitor and keep each property’s information organized.
To cope with these challenges, multi-property owners must consider auditing their existing system and incorporate an advanced property management system that gives centralized control for managing group properties.
Talking about advancement, a cloud-based multi-property system is the best fit as it has the capabilities that a lot of other PMS lacks. When you have such a hotel management system in place, you don’t have to worry even if your properties are located in different geographies, the software takes care of every functionality, manages departments and guests. Whether its staff monitoring, inventory or rate management, handling outlets or enhancing the guest experience, it does it all.
How A Cloud-Based PMS Helps
Cut Down On Operational Expenses
This is one major factor when it comes to running multiple hotels amid this coronavirus outbreak. The expenses are significantly high when you have different PMS for different properties. And when the hotel industry is under a business crunch, this doesn’t seem to be a feasible option. And this is where a cloud-based advanced multi-property management system comes into the picture.
Having a cloud-based PMS, your hotel can do away with managing the huge servers and databases. It also relieves you from the tasks of managing the complex IT infrastructure in your hotel management system.
That’s not all, a cloud-based PMS also cuts down the cost of hiring an IT-sound staff and other technological nitty-gritties.
One Hand That Does Everything For Your Hotel
- A cloud-based PMS lets you manage multiple properties, their operations, business relations, guests, travel agents and corporate clients from anywhere, anytime — all you need is a computer, tablet and a steady internet connection.
- It gives you better control over your hotel business by providing you with a centralized dashboard to handle room rates, inventories, reservations, POS, reports and more.
- Furthermore, a cloud-based PMS makes the best use of data to better the guest experience at your property. The guest data like guest preferences and behavioral trends are saved so that the member properties can utilize it to provide a satisfying experience to the guest before his/her arrival. This is a sheer game changer when it comes to stepping ahead in terms of the guest experience.
- Security is another aspect when it comes to having a hotel system. In a cloud-based PMS, the big private cloud provides to safeguard your information and all records, pertaining to all the properties efficiently and effectively with strong security architecture.
The COVID-19 outbreak has put hotels all around the world on halt. While many hotels are making dramatic decisions to cope with this chaos, many are being patient and planning strategically to bounce back.
At this point in time, it is important for hotels to take a re-look at their entire infrastructure and come up with ideas that would not only make their operations seamless but also save a significant amount of cash during this crunch.
And one of the decisions hotels should make is to consider switching to a PMS such as Hotelogix that provides everything you need to run your hotel at a price that would not go heavy on your budget. With technology steadily seeping into taking control of the hospitality industry management and with Hotelogix keeping abreast with the emerging tech, multi-property groups can now find a huge relief and solution by investing in a cloud-based hotel PMS.