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The dawn of the 80’s saw the rise of videos and the slow demise of the radio, which led to one of the greatest hits of that era, “Video killed the radio star”, by the Buggles. The song doesn’t welcome the change that motion pictures brought into the entertainment industry and is, in a sense, a sort of farewell to the radio, that was present in every home at the time. However, the takeaway from this is that some 30 years later, today, video has become the most popular medium of entertainment and information.

A decade ago, Hotelogix set out on mission to revamp the way the hospitality industry used technology. Hotelogix was born on the cloud as a purpose-built system, aimed at assisting hoteliers conquer this ever-changing hospitality landscape. As we’ve seen over the last decade, the rivalry that was created between the on-premise systems and Hotelogix cloud has been a major topic of discussion. Most frequently, the debate ends in a deadlock which translates to a difference in opinion and a matter of an individual’s perception.

To avoid falling into this monotonous tone of comparison and barely doing justice to the article, I’ll attempt to illustrate the real power of Hotelogix.

What sets Hotelogix apart from other PMS systems is the seamless flow of data. Cloud enables collecting data from multiple sources in real-time, giving you the ability to analyse this data in the moment. Let me start by showcasing the power of a cloud system and then tie it to how Hotelogix shows its strength.

Speed boat racing, as a sport, takes place simultaneously in several different geographic locations and involves broadcasting data to the team, with a video feed for the spectators. Add to that, the commentary required for broadcasting the event on television. The cloud funnels upwards of a 100 contrasting datasets at once, for analytical purposes.

Now, Hotelogix is built on primarily the same platform we are talking about here. Think of it as a machine that’s constantly pulling in and interpreting data, tirelessly. The data could be from your channel manager, POS outlets, website and any other systems that your PMS may be connected to. Hotelogix has around 200K system users currently and this single platform supports all of these users without breaking a sweat. This not only speaks about the storage capabilities but the quality of engineering that goes into building a system like Hotelogix.

Hotelogix supports an average of 16K concurrent users, at any given time. These 16k users suffer no loss of performance with a desktop application-like experience. An on-premise PMS was not built to cater to more than 50 concurrent users.
So, no, it hasn’t been built keeping in mind smaller hotels or properties. In fact, it is an enterprise-grade system, built to withstand much more than what we are handing out to it. But that’s not to say that smaller hotels and accommodations cannot run their daily operations on it, or use it as a part of their expansion strategy.

Another facet of Hotelogix cloud PMS is its ability to access data in real time. Take a look at on-premise systems and you’ll see that they enable the access of data in batches and barely close to real-time.

Now, you might wonder how a cloud system is capable of achieving such feats? The answer is that the cloud replicates data. And how does that help? Well, Hotelogix system is constantly pushing data back and forth from the cloud and also simultaneously saving this data in several locations. What this translates to is that, irrespective of hardware maintenance or software upgrades, Hotelogix’s systems don’t see any downtime. This lets us boast of an uptime of 99.98%. What’s more is that even if any of the data centres should collapse or cease functioning, your data will still remain safe. That’s definitely something an on-premise system can’t boast of.

Hotelogix backs up data on a daily basis and depending on the number of customers, more than 1600 backups take place every single day. Even with the most effective IT environments within hotels, you will see that the data is only backed up once a month.

Here’s something I’ve been told a lot about cloud systems – that they’re just not safe enough. Well, I beg to differ. And no, my opinion doesn’t emerge from the fact that I work with Hotelogix. I have research backing me up. It is true that an on-premise system gives the user more control when it comes to the security measures being set up. Any mishaps that happen will probably land the hotel’s IT team in a soup.

Hotelogix, however, has a different approach towards security. Unlike the on-premise system, it is not a reactionary one. Let me elaborate. Unlike most systems that focus their security measures on the entry points, cloud focuses on the overall application. This is possible due to the visibility that cloud enables on every level, which ensures that the IT manager can view exactly who is accessing the data, at what time and the purpose of doing so. Thereby, regulating access based on the role of the personnel. What’s more is that one can also analyse patterns of attackers and provide more proactive measures to reduce instances of data phishing and phone fraud. Overall, it acts as a deterrent for attackers.

Another home run for Hotelogix is the possibility of integrations. Think of it as a custom-built ecosystem, tailor-made for a hotel. Be it the budget that’s the decisive factor or the features that you are looking for, you can design the ecosystem based on your priorities. Application Programming Interface or API, as we call it, is what enables the cloud to be so versatile. Take an on-premise system, for example. The features and applications have to be built into the system and is not an add-on that will make life simple. Now, the downside to this is that you pay for a bundle of features, which may or may not be of use to you. Hotelogix, on the other hand, integrates with leaders in the space– For example, a finance tool, a booking engine, a reputation manager and the likes. So not only do you pay for what you choose but also integrate with best tech that will definitely give you an edge over the competition.

Hotelogix uniquely offers APIs for hotel brands to develop their own apps and this has led to the development of an ecosystem around the PMS. Hotelogix receives more than 3 million API calls/day. It gives rise to the possibility of mobile apps centered around the staff-facing aspect in order to smoothen operations. It also enables hotels to plug in Hotelogix into your existing MIS system, exchanging feeds in real time, for brands to take strategic decisions with agility. On-premise systems are built on platforms that are not capable of such feats.

10 years in the game and we’ve watched the landscape change drastically. The interesting thing is that even the on-premise players have started to build their own cloud platforms. I’ll leave it to you on what to decipher out of this, but to me, it seems like the cloud has cemented itself as the future of hospitality technology.

In these 10 years that we’ve been in this space, we’ve seen the market evolve and change immensely. Watched the millennials become a major customer to hotels and have seen the struggles that hoteliers have faced trying to adopt to this new category of customers. Just like video killed the radio star, the cloud will replace these on-premise systems in time. Hotelogix has evolved into this machine that is capable of computing on an enterprise level. We are one system functioning across a 100+ countries, with more than 1600 customers and over 200K system users. 16K concurrent users on the platform and still providing a desktop application like experience with zero down time. Hotelogix has evolved into a stellar product that comes at a great price, without compromising on the quality of the features that it provides.

What’s interesting is the road that lies ahead of us. An ecosystem built for hotels with tools integrated into it, that will make managing hotel operations a breeze. Customizations, based on needs and scalable as per the times to come. We aren’t here to  fix something that’s broken, just around to make things better.

This article was originally published on Hotelogix Blog.

 

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Implementing the best procedures and practices of revenue management at a hotel to increase overall revenue is not an easy task. Especially, when the market is as fiercely competitive as it is today. Smart hotel revenue management is all about how efficiently you locate new revenue opportunities, optimize inventory/rate distribution and how well you analyze competitor pricing strategy, plus local market demand. Moreover, it also depends on the extent to which you understand the importance of hotel business intelligence, on decisions pertaining to revenue management. However, even the smallest of miscalculations can backfire and sabotage all your hard labor towards maximizing revenue at your hotel.

Here are top 5 mistakes you must avoid –

1. No strong inventory distribution plan

Not having a strong and well-structured inventory distribution plan across OTAs, GDSs, hotel website, etc can result in inefficient revenue management strategy. Inefficient inventory management leads to issues like overbooking, double booking, under booking, etc. These issues lead to other problems like guest dissatisfaction, loss of revenue and business opportunities. Additionally, not monitoring sales channels’ performance is also not ideal when we talk about hotel revenue management.

You must know which sales channels are working for you, in terms of giving you more revenue. You must understand this clearly – it is mandatory that you have a right strategy in place to drive more direct booking via your hotel website, while striking the right balance with your OTA partners. You also cannot ignore the large presence of offline travel agents and must work with the leading GDSs.

In short, it is a must to have a strong inventory distribution plan, both online and offline, in order to increase your RevPAR.

2. Ignoring guest service, their feedback & online reputation

You really cannot ignore the importance of guest service, when you aim to improve your hotel’s revenue. You simply cannot go wrong here. Why? Here is the explanation – if you can increase your reputation score just by 1%, you will be in a position to increase your hotel’s ADR by almost 7%. Moreover, increasing your reputation score will also help you to increase your occupancy by 1.4%. Now, this is what you want to achieve, right?

Best-in-class guest services increase their (guests’) happiness; they become your loyal customer and they give you repeat business. They also write positive feedback about your property on various review sites and on social media platforms. This helps you improve your online reputation and rating. And with an enhanced online reputation/rating, you will be certainly in a position to increase your room price.

3. Making assumptions, focus on wrong metrics

On what basis can you come up with an occupancy forecast and room pricing, if you are not in a position to analyze local market demand? How would you beat the competition if you don’t track their pricing? To do all these with ease, you must understand the importance of business intelligence in revenue management.

Key metrics on such aspects will surely help you to analyze and increase ADR while improving the occupancy. As you know that higher ADR is the key to your hotel’s profitability, too much of focus on ARR or occupancy might not help you in the long run.

4. Not adopting occupancy-based dynamic pricing

Hoteliers’ failure to change room rates is another major mistake they commit. While having a static rate will weaken your hotel position, occupancy based dynamic pricing can help you to reach your full revenue potential. Set pre-defined rates for different occupancy levels. For instance, a offer a 10% lower rate when occupancy is at 70% and roll out a discount of 20% when occupancy goes below 50%. This helps you generate more demand during off seasons, and earn more revenue when demand is on higher side.

5. Not adopting a smart cloud-based PMS

This is the most serious mistake that hoteliers must avoid in today’s highly competitive business environment. With the absence of a smart cloud-based PMS, you cannot –

  1. Have a strong inventory distribution plan
  2. Manage guest reviews and improve reputation score/rating
  3. Have KPIs at your disposal to take data-driven decisions
  4. Apply occupancy-based dynamic pricing

Additionally, a cloud PMS comes integrated with a revenue management solution. Without this, you cannot create relational rates and implement multiple rates & types support in a single stay.

In short, with the help of a revenue management solution, you can optimize GOPPAR (Gross Operating Profit) and NRevPAR (Net Revenue per Available Room) at your hotel while offering competitive yet attractive rates to your guests.

This article was originally published on Hotelogix Blog.

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It’s been a decade of empowering hoteliers with the best property management system and we, at Hotelogix are in no mood to stop! The celebrations began early last month as our company completed 10 years on March 14th, 2018. Interestingly, March 14, also known as Pi Day, that coincides with Albert Einstein’s date of birth. During the last decade, Hotelogix has grown into a trusted technology partner for hotels operating across 100 plus countries.

As our diverse teams manage our vast client portfolio spread across the globe, the Hotelogix family continues to work with a focus on customer excellence. Hotelogix is instrumental in introducing the best practices in SaaS to the global hospitality industry. In 2010, the company released the first ever ‘Try & Buy’ model by clearly displaying its pricing on its website to help hoteliers make buying decisions without worrying about any hidden costs. Our focus has been “Smart Hoteliering on the go.”

Our celebrations began in Goa where every team member attended the two-day long event to celebrate this special occasion. The sunny destination of sand and surf provided the perfect backdrop for exciting discussions over food, games, music, and many activities that created the right synergies.

So, as our 10-year anniversary special celebrations continue, we’ve got plenty of reasons to tell you why Hotelogix is definitely the best hotel PMS you must choose. But, for now, we’ll list out 10 reasons you must know before you make the final purchase.

If you haven’t yet tried how Hotelogix cloud-based pms system for hotels simplifies hotel management, take our free trial, now!

1)    Automation and only automation

Hotel management is often so complex, isn’t it? Apart from managing daily operations, it involves handling reservations from multiple sources, and most importantly serving guests with high class amenities. And, after serving this industry for 10 years, we know how automation can drive away your stress in a jiffy. With smart technology on the cloud, you can easily automate your hotel’s operations through our hotel management system.

We offer next-gen capabilities needed to simplify reservations, improve your operational efficiency, and maximize revenue. Our property management system is built to help you succeed as you can reduce dependency on manpower, totally eliminate manual errors and save time for your staff.

2) Trend Spotting 

During last 10 years, we have become the preferred technology partner for 1500 plus hotels across the globe. We invest our time to understand various pain points related to hotel operations with a focus on offering world class technology. Our expert team members have been quick to note the latest trends – the growing use of smartphones and the increasing number of in-app hotel bookings.  Which is why we are quick to implement new trends in our online hotel management system. Our mobile hotel app makes monitoring the functioning of your hotel so easy, on any device. So, even if you are on a vacation, all you need is your device and a stable Internet connection. It’s like having a property management system in your pocket!

3) Real-time information and data

Managing piles of books or storing your data on on-premise PMS is passe. We understand the plight of maintaining room inventory with the number of reservations and cancellations that happen. The best hotel PMS will always show you updates in real-time. So, your occupancy levels, booking details will reflect automatically without the need for manual updates. When a booking or a cancellation is made on your hotel’s website, or on an OTA,  it’s easy to access details within your dashboard. Room rates and package deals are easily updated in no time. A central management dashboard with a collection of all hotel data helps you source reports, analyze the hotel’s performance, and come up with forecast strategies based on data.

4) Effective management of staff and user access

There’s so much a small hotel management software can do! And, the Hotelogix PMS is all about adding more value to your hotel management tasks. Which is why, it’s so easy to manage your large teams and departments, all within a click. Our PMS helps you easily create multiple user accounts,  lets you define the number of users, and also allows you to set the levels of access. What does this mean? Well, reports that include confidential information can be restricted from viewing by team members. The PMS lets you view details about the online users, define tasks, assign duties, check task completion and do much more.

5) Personalize your services

Selecting a PMS for your hotel can often be a daunting task. Which is why, we always try to put the focus on you – understand your problems and the finer nuances of hotel management. The guest profile section is aimed to bring an ease to the way your staff manages bookings. For instance, it can personalize the services – you can store guest data (ID proofs, guest preferences, requests and more). Your staff can use this data to deliver superior experiences which is needed to create a strong impression on the minds of the customer. By showing how well you know your guest only speaks volumes about the extent of your guest experience management.

6) Improve your online reputation

Well, we all know the power of social media.  It takes years to build a reputation but a couple of bad reviews online next to your ‘book now’ button can seriously damage your reputation. But, how do you ensure you grab the right reviews soon after the check-out happens? Our PMS integrates with TripAdvisor and RepUp to manage your online reputation. It’s easy to automate review collection, and this is indeed a powerful way to increase hotel bookings. Platforms like RepUp acts as a single layer between the hotel owner and the user-generated content. So, you can control your operations while providing the best-in class customer service that begins from the time of booking.

7) Customer excellence and support

We understand the move towards a cloud-based property management system is not an easy one for you. Many of you may follow the traditional manual entries or may opt for on-premise models. The benefits of moving to the cloud are many but technology may seem a little intimidating for some. We understand that. While our focus is to help you deliver excellent customer experiences, we also focus on helping you at all times. While you can contact us via our social media pages, you can also contact our support team for 24/7 support. We work round the clock to make this transition to technology a smooth one. We are always here for your queries with instant solutions.

8) 3rd Party Integrations

Hotelogix extends its functionality with its wide array of interfaces and third-party product integrations. Over the last 10 years, we’ve offered a seamlessly integrated best in-class system. This ensures you can work on your hotel management without worrying about technical functionalities. Our third-party integrations ensure you have the Channel Manager connect, reputation and revenue management tools, business analytics reports,  accounting software, Global Distribution System connect, payment gateways and much more. It’s convenience on the cloud!

9) Ability to constantly innovate

We have indeed come a long way! It’s about constantly striving to provide the best solutions for every type of hotel owner. It’s about forging new relations with technology partners that will help to enhance our product value to bring you a solution that is in step with the latest tech innovations. Hotelogix is about thinking ahead, while keeping an eye on customer requirements.

10) Complete Flexibility

We understand your inhibitions about making the move to a cloud-based property management system. But, be rest assured we offer complete flexibility. We know that you would want complete flexibility to make the purchase. Our plans come as a monthly pay-as-you-go model. That’s what makes Hotelogix hotel management system a great investment for your property. You only pay for what you use!

It’s been a pleasure to serve hoteliers for 10 years indeed. As we continue to innovate, you might want to quickly check out the Hotelogix hotel management software demo here.

This article was originally published on Hotel News Resource.

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Hotel accounting is one of the most important areas of a hotel’s management. Accounting in the hotel industry has moved on from the traditional methods of using spreadsheets to the modern hotel accounting software. As a hotelier, you need to adopt new technologies to effectively streamline this aspect of your business. Thus, to make the whole process error-free and to save time.

Importance of Accounting in Hospitality Industry

Accountants have a host of responsibilities in the hotel industry. From delivering accurate month-end account statements,  they also have to focus on the following activities –

  • Budgets
  • Compare profits (between current and past periods)
  • Prepare financial statements, balance sheets
  • Cash flow statements
  • Payroll management
  • Business planning and much more

 

Financial statements of each department are vital for hotel owners/management to understand the monetary health of their hotel business. Information such as how your room is priced compared to competitors or the current month’s profit as compared to the previous month gives deep insights. Generating and procuring all these details manually, consumes time and involves tremendous effort. Plus, it may lead to errors, too.

 

Hotel Accounting Systems: Then and Now

In the past, the entire process of maintaining a hotel accounting system required extensive manual work. Every individual needed to manually check the record transactions, summarize, make additions, subtractions and more. Those who are yet to make the move to hotel accounting software, have to spend an enormous amount of time to deal with piles of invoices. Additionally, outdated data and lack of easy access make it difficult for employees to work efficiently as a team. Modern accounting methods bring in convenience as we shall see ahead.

Let’s find out how automating your hotel accounting process with modern accounting software will bring relief to your hotel management. Here are the 5 main benefits –

 

1) Automation and Accuracy: A hotel accounting system makes it easy for you to generate invoices, account statements, produce payslips, and much more. Routine tasks are now automated leading to zero manual errors. You’ll find greater accuracy in all the mathematical calculations provided the data is entered correctly.

2) Access from anywhere: When integrated with a cloud-based Hotel PMS, it becomes easier for you to access your accounting data from anywhere, anytime, and on any device.

3) Information in real-time: All your financial data is available within the software with a real-time view of your cash flow – accounts receivable, and accounts payable etc.

4) Ease of use: The data entry process is simple. It’s easy to update it online and allow access for specific users.  Ample data storage also makes it easy to share information.

5) Speed and efficiency: Your hotel’s accounting process will work at a faster speed as compared to the manual methods. It also increases the efficiency of your staff.

 

Tech-savvy hoteliers have adopted cloud-based property management systems (PMS) to perform a host of tasks including accounting. Such a PMS integrates with accounting software, and is so easy to use! It saves time and cuts down costs while providing greater accuracy. As it works online, it does not require hardware installations and comes with free upgrades!   

Tip: Hotelogix hotel management system integrates with powerful hotel accounting software such as Xero, QuickBooks, Tally, Alif, and more.

Hotel accounting management is no longer a cumbersome process. The benefits of modern accounting are vast. So, are you ready to make the move, today?  

This article originally posted on HotelNewsResource.

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When independent hotels decide to move from on-premise or manual processes to modern cloud based Hotel Management System, there can be a lot of indecisiveness around this move. Small hotels feel the pinch since the move means investment in terms of money, time and effort. These hotels are already stretched and any change demands instant ROI to justify the move.

A common worry among small and mid-sized properties is that cloud based hotel management system mayn’t give instant returns and this may lead to a confused approach. It’s always recommended that you create your own checklist based on,

What is your budget limit?
Which features are important for your hotel?
Is the system simple or complex?

We bring you hits and misses that will help you arrive at the best Hotel Management System for your hotel,

The follow are definite hits that should feature in your check list:

Smooth integration: With almost every platform and tool moving to cloud, easy integration between your Hotel Management System and 3rd party tool is a must. This will save time and provide real time data for better decision making
Connect with Channel Managers: Channel Managers are perhaps the most popular online integration that hotels go in for. This helps update your room rate and inventory stay updated at all times and ensure zero bookings
Housekeeping & POS: Most Hotel Management System vendors provide basic functionalities like checkin, checkout and that’s it. Why not go for comprehensive PMS systems that come with Housekeeping and POS modules included
Reporting: Smart Hotel Management System have the ability to capture crucial data like occupancy, market trend, competitor pricing and more, which translates to informed business decisions
Support: This can be tricky since you are required to judge which Hotel Management System vendor will provide you timely service and support. Sites like Capterra and Software Suggest are great listing sites which include user reviews

Misses that you should steer clear of,

Opting for features than required: Evaluate features that make most sense for your hotel and then start your hunt. Keep a list of your hotel’s requirements ready and match it against the key features of a Hotel Management System.
Choosing by cost alone: Determine the ROI after you arrive at favorable options. Going in for for any low-cost solution would be a bad idea.
Obsolete systems: We cannot stress this enough. To best position your hotel business for the market trends in future, choose a modern system which will ensure a long and prosperous time ahead.

Running a hotel is difficult and you want to seek all the assistance that you can get. But with all right systems in place, it can be truly rewarding. Get the Hotel Management System to unlock new opportunities for your hotel.

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