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Hotel and hospitality management software performs essential financial and organizational functions for hotels, motels, resorts, and bed & breakfasts, as well as condos, RV parks and other forms of lodging. These functions include reservations, employee scheduling, accounting, property/maintenance management and customer relationship management.
This guide will cover key software functionality, what type of buyer you are, evaluating software solutions, and important market trends.
Hotel property management systems should have strong reporting capabilities, as well as on-board business functions like accounting and employee scheduling. These features should be customized specifically for the hospitality industry to simplify and speed up your management and accounting processes—or, if they are not part of the software itself, should be compatible with the software you have.
Other essential features of hotel software systems include:
|Reservations||Hotels need an effective customer-facing site that not only lets their guests book reservations online, but also integrate seamlessly with third-party booking engines. Meanwhile, you need an employee reservations system that facilitates room scheduling and availability, making it easy to identify vacancies, reservations and occupancies visually and/or through custom searches.|
|Front Desk & Housekeeping||This includes organizing check-ins and check-outs, coding keycards, scheduling wakeup calls and tracking progress of cleaning staff, assigning them to specific rooms or tasks as necessary.|
|Point of Sale (POS)||POS systems are typically used for restaurants and retail stores. In the hospitality industry it’s used to allow customers to pay for, or charge to their room, products and services like restaurant meals, room service, incidentals like mini-bar items or pay-per-view, wi-fi, health club/spa services, etc.|
|Maintenance Management||An essential function, it’s important that hospitality management software tracks the property ownership/rental information (leases, taxes, etc.) as well as tracking work orders, scheduling preventative maintenance and communicating with maintenance staff.|
|Customer Relationship Management||Hotel CRM software takes all the information you have about a customer and uses it to support customer loyalty and retention. It allows you to monitor guest profiles, activity history and participation in loyalty programs to optimize rewards programs and sales and marketing tactics.|
Hotel management software buyers typically fall into one of the following categories:
Pricing for hotel property management software is usually either per room/unit or per user. Keep in mind that for an on-premise system you’ll pay a single fee, likely with an annual maintenance upgrade, while Web-based systems (Software as a Service, or SaaS) will charge on a monthly basis.
Specific questions to ask when evaluating hoteling software include:
It’s important to consider whether you need something specific to your type of property (hotel, motel, resort), or something more generic and/or basic.
We're able to offer this service to buyers for free, because software vendors pay us on a "pay-per-lead" basis. Buyers get great advice. Sellers get great referrals.