Hotel PMS to reduce costs in your hotels and resorts
Where is your hospitality business leaking money? It might be on your skyrocketing energy bills, inflating food prices or fast-rising labor costs. It might also be on the day-to-day business operations you’re running with legacy technology solutions.
In a recent report by Statista, almost a quarter of hotels said that the main reason for modernizing their technology was to improve the guest experience. Just 5% of hoteliers said that the main reason for using technology was to save time. And yet, if hotel and resort owners choose the right property management system (PMS) for their business, they can achieve both – and save significant costs in the process.
In times of economic hardship, the obvious instinct for any business is to tighten its budget and save costs where it can. Investing in the latest hotel management software might seem at odds with scaling back. However, failing to update your core technology – your PMS – and to centralize your operations could be costing your business more than you think.
Today, many hotels and resorts still rely on patched-together business applications to keep their operations ticking over – and likely face higher running costs, greater security risks, operational inefficiencies and obsolete reporting as a result. These challenges will only multiply as this technology continues to age. A modern, cloud-based PMS could take these headaches away by consolidating all your business functions and data in one place, from your hotel to your on-site spa, and providing all the industry features you need. Even better, by opting for a cloud-based platform, you won’t need to make a big upfront investment, or worry about costly upgrades.
Here are four ways a modern PMS platform could save you significant money in the long run:
Hospitality is a people-first business. And yet the hotel industry is in the midst of a chronic labor shortage – according to the recent Deloitte report “The European Hospitality Industry Outlook,” a shortage of skilled employees is one of the biggest risks hospitality leaders currently face. It’s why many hotels and resorts are turning to self-service and autonomous technology to plug the gap, rolling out everything from self-check-in kiosks in hotel lobbies to QR code ordering in their restaurants.
Self-service technologies can help:
How much time do your staff waste manually inputting data into your separate systems? The reality today is that many hotels and resorts still rely heavily on manual processes in their daily operations as they make do with obsolete, disjointed software systems. As staff waste time copying and pasting information from one application to another or manually generating reports, their attention is diverted from serving your guests better and focusing on higher priority tasks.
A modern PMS brings all your operations and data together in one place, giving your staff the control and visibility they need to carry out their roles to the best of their ability. It helps to:
Data analysis inefficiencies cost businesses a staggering 62 billion hours annually worldwide, according to the IDC ‘Data and Analytics in a Digital-First World’ report. The same study found that 95% struggle with operational challenges around data and analytics. What’s holding them back? Well, for 88% it’s their legacy technology.
For hotels and resorts, keeping up with audits can be hugely time intensive. From rate availability to night audits, running a successful hotel business requires ongoing monitoring and reporting on a daily basis. When you are juggling separate data collected across different systems, managing all these audits can be a costly and stressful exercise.
A modern PMS system that also covers your entire business relieves this. By replacing many disparate software solutions with one, you have all your data in the same format. You can also:
Rising energy costs are the biggest challenge for 80% of hoteliers across Europe, Statista reports. With shrinking margins, it’s more important than ever for hotels to identify areas of risk and opportunity quickly. This can be difficult when you are using one system to manage your rooms, another one for the spa, a third one for the restaurant, and using Excel to do your reports.
By managing all your rooms and activities via a single dashboard, you can:
Now’s the time to invest in a modern PMS for your hotel business
Moving with the times and embracing the latest technology is crucial if you want to remain successful in the hotel industry. Without this investment, hotels and resorts simply won’t be able to keep up with their competitors or offer the services their guests now expect, simply because their legacy systems can’t cost effectively support them.
The right PMS, then, is key for improving the guest experience and running a resilient and cost-efficient operation. Want to find out how to get started? Get in touch – we can help.
LS Central for hotels is a Hotel Management System (aka Property Management System (PMS)) embedded into the ERP platform Microsoft Dynamics 365 Business Central. As a unified hotel property management system by LS Retail, LS Central for hotels provides a seamless experience for managing all aspects of hotel operations, from room reservations and guest services to restaurant and spa management. Designed to optimize operational efficiency, LS Central for Hotel Solution enables hotels and resorts to centralize their business processes, streamline workflows, and reduce costs while enhancing guest satisfaction. With integrated reporting, inventory management, and self-service capabilities, LS Central helps hotel businesses stay competitive in a fast-evolving industry, all while supporting scalability and adaptability to meet the unique needs of any property.
As a Diamond Partner of LS Retail, NaviWorld Vietnam has extensive experience in implementing and supporting LS Central for the hospitality sector. With a deep understanding of the unique challenges faced by hotels and resorts, NaviWorld Vietnam delivers tailored technology solutions that help businesses optimize operations, reduce costs, and provide an exceptional guest experience. From initial consultation to post-deployment support, NaviWorld Vietnam ensures a smooth, efficient transition to modern hotel management software, empowering hotels to stay ahead of industry trends and achieve long-term success.
Source: LS Retail
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NaviWorld Vietnam is a leading solutions provider of end-to-end integrated and adaptable business management solutions for mid-sized companies in Vietnam and South East Asia. With solutions catering for various sectors from Distribution to Retail, Services to Manufacturing, NaviWorld brings a portfolio of internationally proven, fully integrated technology business solutions to our customers.
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