In an era defined by technology, having channel management software is a necessity to stay ahead in the competition. When most of the hotel bookings happen online, it becomes imperative to be equipped with channel management software. There was a time when having CMS for your business was considered an extra-mile effort. That’s not the case anymore, especially considering that you not only want to stay ahead of the competition, but also be the top one in the market.

So, what exactly is channel management software? In its foundational definition, it is a solution that helps you manage all your OTAs together at one place, no chaos, simple and easy, no juggling between OTAs to change rates and inventory separately, do all at once from one place

Having channel management software integrated in business operations gives businesses a sleek and highly necessary competitive edge in a rapidly evolving industry.

Channel Manager Software to Stay Ahead of the Curve

As the travel and tourism industry is a highly evolving field with new trends and methods to watch out for in every corner, channel management software helps you stay recognizable and preferred in this sharp competition by offering a plethora of benefits.

Having channel management software for hotels is highly encouraged as it directly affects various facets of business, including revenue, inventory, customer experience, etc. So in times like these, where losing a single booking could lead to losing a customer to a competitor, automation is no longer just a helpful tool; it’s the strongest defense in a crowded market.  Let’s take a look at some of them:

1)      Increased Visibility

By indexing properties on multiple OTAs, there is immediate access to a wider customer base. This is because these platforms have users from broader demographic and geographic sections, like international customers.

2)      Increased Bookings

Channel management software helps maximise bookings and minimise missed opportunities by turning interest, which is a direct result of improved visibility, into confirmed bookings.

3)      Inventory Management

Real-time updates across connected platforms ensure an accurate and reliable depiction of room availability and pricing. Channel management software not only boosts revenue by preventing overbooking and underutilisation, but it also allows strategic allocation of inventory, for instance, prioritising high-performing platforms or customising according to seasonal demand. Smart inventory management is a strong competitive edge to have under your belt.

4)     Rate Management

One of the most attractive features of channel management software is that it allows dynamic pricing.  Pricing is one of the direct factors for staying ahead in the competition. So striking the correct balance in revenue management is important. CMSs take care of this by real-time data analysis, based on components like competitor pricing and strategy, market conditions, demand, etc.,  to decide the pricing that results in the most beneficial results.

5)      Time and Cost Efficiency

Automating reservations, streamlining inventory management, and syncing availability through connected platforms helps save time and effort by avoiding and organizing many repetitive and energy-consuming manual tasks. It also provides a zero-margin error in operations.

6)      Seamless Integration with PMS

When the Property Management System and Channel Manager System can be integrated, it unlocks a lot of advantageous features. With both the internal operations taken care of through PMS and inventory management through CMS, hotels can very easily boost revenue and efficiency, and in the long run achieve repeat customers and enhanced brand reputation.

Mini Hotel Man’s channel management software is a robust solution that adapts to evolving needs and enables hotels to gain an exceptional competitive advantage. Some of the features are:

• Integrated PMS allows for combined operations
• Single, easy-to-use, and navigate dashboard for all activities and monitoring
• Automatic price adjustments on channels which is facilitated by their dynamic rate management system.
• Seamless and smooth phone UI/UX that helps plan and execute on the go.

Integrating a CMS into hotel business operations is gaining relevance and importance because of the many powerful features it offers. By choosing the right one for your business, the potential to optimise and manage your services and revenue will be unlimited.

Maryam Hintz