Like your competitors, we know you, too, are looking for ways to expand the footprint of your chain hotel in your target market. And why not? After all, it looks like this is the right time to consolidate your portfolio as many hotel chains, both global brands and popular homegrown ones across regions, are on an expansion spree. The credit for such growth in the chain hotel segment is attributed to the asset-light model. However, you would still need a robust cloud-based Hotel PMS, to be very precise, a multi-property management system to expedite the expansion process.
Like your competitors, we know you, too, are looking for ways to expand the footprint of your chain hotel in your target market. And why not? After all, it looks like this is the right time to consolidate your portfolio as many hotel chains, both global brands and popular homegrown ones across regions, are on an expansion spree. The credit for such growth in the chain hotel segment is attributed to the asset-light model. However, you would still need a robust cloud-based Hotel PMS, to be very precise, a multi-property management system to expedite the expansion process.
In this blog, we will touch upon a few aspects of going asset-light and how a cloud Hotel PMS can help you with the right IT infrastructure.
Benefits of an asset-light model
An asset-light business model (ALBM) has changed the way chain hotels are now considering their growth trajectory . It helps them focus on operations rather than substantial upfront investments in physical assets. Many hotel chains have followed this strategy with a mix of managed and owned properties and seen immense value in their efforts to grow big. It helps you to:
- Save costs with significantly reduced investment in real estate assets.
- Expand faster by quickly adding new properties.
- Additionally, with the saved fund, you can invest in the best-in-class hotel property management system for rapid digitisation, which is core to the success of your chain hotel’s operations.
You won’t be able to manage your member properties under your group/chain unless you have a robust cloud-based multi-property solution. For example, you grow your portfolio by adding five properties to the existing three. Don’t you think you need to have something comprehensive to manage all of them with efficient centralised control? And then, what about staying ahead of the competition? How do you plan to beat them without the right solution powering your hotel operations?
Let’s know more.
Gain centralised control
Imagine this – you are at your head office, and you need to know the position of your Property A. You will have to call your property staff to get those details in this scenario. But with a multi-property solution, this dependency is gone. You can access the cloud hotel software on any device over the web and track the required information in real-time. The same goes with your other properties, too. Simply put, it enables you to keep an eye on all your properties while centrally managing operations.
Increase your group’s conversion rate
Do you think your guests would like it when booking agents in your head office can’t help them with rates and availability on one of your properties? They will also not appreciate it if you can’t process their reservation requests for one of your member properties they are looking forward to staying. In this case, an all-in-one hotel management software with a Central Reservation Office (CRO) can help you.
It allows your central office staff to view real-time rates and room availability across your group and make confirmed bookings as per your guests’ requirements. It also empowers them to make itinerary and corporate/travel agent booking while managing guest history centrally.
Know your guests
How will a repeat guest react when you offer oriental food instead of his regular favourite continental food? He will be very unhappy about it, right? This means you don’t have the right technology to know their preferences, and you can’t offer them what they expect from you.
Here, too, a cloud property management software can help you. The guest history module captures their preferences regarding the room, food, beverages, and many more during their earlier stays. You can then leverage the same information to offer your guests a consistent experience during their subsequent visits.
Access group-wide reports
How will you decide to tweak room rates without having the correct set information on your occupancy level, local demand and many other factors? Yes, we are talking about the importance of reports. Reports are critical, and it becomes even more vital to have them all when managing a chain/group hospitality business.
With a multi-property management solution, you can centrally gain access to several group-wide insightful reports, including Manager Flash Report, History & Forecast Report, MIS Report, and Forecast Report, etc.
Distribute efficiently
How will you ensure an efficient OTA distribution without a cloud hotel software integrating with a cloud-based channel manager solution? Moreover, owing to this deficiency, you are bound to see reduced bookings via OTAs and overbookings and double bookings.
With the integration mentioned above in place, you don’t have to worry about updating all the OTAs with rates and availability manually. The process is now automated, faster, real-time, and error-free, resulting in better online visibility, more OTA bookings and eliminated overbookings and double bookings.
Apart from managing a host of operations at your hotel chain centrally, you can save costs with a carefully selected cloud Hotel PMS as it lowers your software ownership costs. Like going asset-light on real estate while adding new properties, you can even go asset-light when it comes to heavy investments in IT infrastructure. Just pay for the subscription costs and let the Hotel PMS vendor take your new property live in a couple of days.