Property Management System II
What Is A Property Management System (PMS) and Why Do You Need It?
If you operate a large rental property business, hotel, or motel, the center of your operation is a property management system. A good property management system handles the daily tasks of your operation and automates the routine ones. Without one, a property management team will struggle to stay efficient and the satisfaction of guests or tenants will suffer.
Here’s how one of these systems works:
Front Desk Management
The front desk aspect of the property management system allows you to check guests in and out fast. You should be able to see every reservation quickly by date. Also, you should be able to add various items and requests to bookings, change a current booking, make an invoice, and much more. Most systems are cloud-based now so you should be able to access this information anywhere on your property.
Reporting
Every hospitality business needs great data and a good PMS will help deliver that. You should be able to easily analyze your operation’s performance, total bookings, guest information, invoices, etc.
Channel Management
At hotels, most bookings are generated from online travel websites. So it is important that you can easily adjust your room rates and availability right away. An efficient reservation system allows you to update rates across many websites right from your computer system.
Boost Revenue from Guests
Up-selling is quite easy with these systems. You can easily add spa packages, travel packages, late check out, etc. The more of these conveniences you can offer easily, the better your guest relations will be and the more money you will make.
AI (Artificial Intelligence)
More PMS software is based in the cloud, which means hosted on a network of servers and not on the property. Many companies are building AI into their systems. The software should be able to use AI to look at large data sets to learn about how guests or tenants spend money, preferences, habits, etc. The smart property manager can take this data to enhance personalization and make recommendations that make the business more money.
AI also is very useful for powering chatbots and messaging for property management. There are many cases where a guest can have a simple question that a bot customer service agent can answer without a human being involved.
If you are running a hotel or a large number of properties, it is definitely worth the expense to be running a modern property management system!
