Today's Revenue Management thought:-

Is your Property Management System (PMS) limiting your ability to execute your pricing strategies ?

Hoteliers often complain about their PMS systems because they are often outdated and don't meet their needs. However, they resist making the investment in a newer PMS.

Your current PMS may not be able to track key data points necessary for revenue management, such as customer segmentation, booking patterns, and average daily rates. This makes it difficult to implement a revenue management strategy that's tailored to your specific needs.

Additionally, your PMS may be unable to integrate with other third-party technology, such as a channel manager, which further limits your ability to optimise pricing and availability.

Finally, the PMS may lack features such as automated rate rules, which make it difficult to quickly and accurately adjust rates in response to changing market conditions.

All of these issues can lead to lower revenues and diminished profits for your hotel.

That said, an “antiquated” or “legacy” PMS can provide you with the fundamental data you need to implement pricing strategies - you might just have to restructure how you work with it.

Have a profitable week.

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