Leverage Your Property Management Software to Maximize Revenue

Leverage Your Property Management Software to Maximize Revenue

It should come as no surprise to anyone that 2020 was the worst year in history for the hospitality industry. However, as the new year began, optimism was renewed with many hotels slowly starting to work their way back to either re-opening or increasing their business. While this is great news, the majority of hotels were pushed to their limit from a financial standpoint and the road to recovery is likely to be a lengthy process. With that being said, there are ways hoteliers can leverage their technology to accelerate this progress and maximize revenue during this time using a full suite of revenue-building tools. Let’s take a look at some of the ways a complete suite of property management software solutions can do just that.

Upsell functionality during check-in.
With reduced occupancy, the value of each guest becomes increasingly more important. As guests start to travel again, it essential that revenue per guest is maximized to help increase overall profitability. One way this can be achieved is by offering additional amenities, room upgrades, and services during the check-in process. While guests may be hesitant to stick around the front desk for an extended period of time, it is crucial that the check-in process remains quick and seamless.

With Chorum PMS, upsell opportunities are listed within the check-in screen and can be added to the guest’s folio with a click of a button. This will help to keep the check-in time to a minimum, while enhancing the guest experience by providing a more personalized stay. While some of these add-ons and upgrades may only be a few dollars each, over an extended period of time the revenue earned can grow exponentially. For example, The Surfer Beach Hotel, a Chorum client, earns about $22,000.00 per year in additional revenue simply by upgrading their guests’ rooms during check-in.

Increase direct bookings and automate rate management.
As travelers start considering travel opportunities, it’s important to have a web booking engine and central reservation system in place. In addition, a website that is visually appealing and designed to convert will be an important aspect of bringing new guests to any hotel. Whether it’s through search engines or direct visits, hotels must be able to increase visibility and capture a guest’s attention to help create a steady stream of business.

With Chorum CRS, hotels can increase direct bookings and reduce their spend on commission fees, which directly increases revenue per reservation. The top-rated web booking engine can easily be embedded on a hotel’s website and is customizable to the existing branding. If a hotel is looking to update their website, we offer our Chorum Website Builder service, which creates a brand new website that will modernize the design and increase conversions. Leveraging our automated rate management, hotels can set up occupancy-based rate tiering, which will help ensure that revenue is maximized at all times. With the ability to easily manage rates, inventory, and availability in real-time – properties will be in a better position to earn additional revenue and increase profitability.

Guest mobility for quick upgrades, amenities, and service requests.
For the guests that are apprehensive about visiting the front desk or even interacting with hotel staff in general, mobile technology has evolved to allow guests to do more from their smartphone. This is especially true for the younger generation of travelers, who want to be able to do more directly from their mobile device rather than a traditional in-room telephone. As an added bonus, mobile technology helps to promote social distancing for those that are weary of close contact, while providing guests with the ability to enhance their stay from the palm of their hands.

With Chorum Guest Mobile, guests can simply do more with their smartphone on a mobile app. They can check-in and check-out, access their room with a digital key – assuming this is available at the hotel, order additional services, request amenities, and even make a reservation right from the hotel’s mobile application. In regards to generating additional revenue, it has never been easier for guests to enhance their visit and increase their spend throughout the duration of their stay. By investing in a guest mobile app, hotels can market themselves to the hypersensitive travelers, helping to boost RevPAR and incremental revenue in the process.

Guest text messaging and promotional offers.
Research shows that text messages have an open rate of about 98%, compared to about a 20% open rate for emails. Beyond that, someone is likely to open and reply to a text message within 3 minutes, as opposed to emails which are generally responded to within 90 minutes. In addition, the average person spends over five hours a day on their phone, while checking it an average of 58 times. Needless to say, the value of sending text message promotions and offers cannot be understated.

Chorum PMS directly integrates with the leading text-message and guest engagement platforms in the hospitality industry. In doing so, hoteliers are able to send guests promotional offers, targeted campaigns to a specific subset of guests, and even notifications regarding upcoming events at the hotel. This helps to increase ancillary revenue at a hotel, with the ability to easily send guests notifications regarding revenue generating offers and events. This technology also helps to increase guest engagement, further increasing the likelihood of that guest returning, but also leaving a positive review online that will attract more guests to the hotel in the future.

Interested in learning more about how Chorum PMS can help increase revenue at your hotel? Be sure to request a demo today and see our software in action!

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