How Can Your PMS Generate You More Revenue?
While some might regard a Property Management System (PMS) as simply somewhere to locate and manage your bookings, the reality is that your PMS can do (and should do) much more than that.
Your PMS can generate you revenue! How?
1. Via Online bookings
Many RezExpert clients report that their booking volume increases from anywhere between 30 - 50% once they switch on online bookings, and 80-90% of total bookings thereafter are received online.
Having an active "Book Now" button on your website connected to your PMS will increase your revenue! Your PMS can also incorporate a channel manager, which connects your online travel agent bookings (such as Airbnb, booking . com and Expedia) to your reservation grid - another option to increase your revenue.
2. Marketing Module
Your PMS should include an inbuilt marketing module that enables you to communicate with your guest database. You have years worth of your guest's contact details, they've given you permission to contact them - use it to increase your revenue!
Send marketing emails and text messages to your past and current guest list advertising your upcoming events, season specials or any new attractions. Watch the increased bookings (and revenue) roll in!
3. Booking Fee
Introducing a small "Booking" or "Administration" fee onto any booking received can offset any costs incurred from operating a PMS, making your PMS cost-neutral. Similar fees can be added for credit card transactions, further reducing your operating costs and negating any high commission fees.
4. Products
"Would you like fries with that?"
The upsell has long been a standard tactic in retail and sales to increase revenue, and you can do exactly the same thing for your accommodation. Do you offer breakfast? Late check out? Firewood? BBQ pack? Anything you sell, offer it as part of the online booking process. You can also apply this to any packages you offer to guests, such as a 2 nights plus breakfast deal. This simple act will also increase your revenue.
Your PMS can be so much more than just a static database or calendar, it can provide you with multiple revenue streams as well as create efficiencies in booking management. To discuss how RezExpert’s PMS can do the same for your business, call our team on (07) 4925 4400 or click “Get Started” at the bottom of the page.
