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Property Management Systems (PMS)
A Property Management System (PMS), also sometimes referred to as a Hotel Operating System (HOS), is the central operating software of a hotel. The PMS is the “core-system” of a hotel’s technology stack. At a functionality level, the PMS is respon...
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What is a Property Management System (PMS)?
A Property Management System (PMS), also sometimes referred to as a Hotel Operating System (HOS), is the central operating software of a hotel. The PMS is the “core-system” of a hotel’s technology stack. At a functionality level, the PMS is responsible for various operational and administrative tasks including access, updating, and tracking of all relevant information across most departments. Those functions range from managing reservations, distribution and guest data to cashiering, and payment processing. They also deal with check-in and check-out (as well as mobile and self-check-in kiosks in some cases). In terms of reporting and KPI tracking, most PMS vendors provide basic statistics, custom report builders, and various export formats, and interface their solution to specialised 3rd party business intelligence tools for in-depth reporting.
What are the relevant trends on the Property Management System market in 2021?
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Cloud-native & SaaS model: Historically PMS systems were rolled out on-premise, it has evolved through various types including server-based, hybrid, or cloud-native. Cloud solutions can be delivered in two types. Either cloud-hosted, which in some ways may still be considered the “on-property” version of the software hosted on dedicated server(s) managed by the vendor, making them on-property applications that are available remotely, or cloud-native which are applications that are hosted in a true cloud infrastructure (like Amazon Web Services) and are delivered via a Software as a Service model. With the introduction of cloud-native PMSs, both vendors and hotels have transitioned from rather high one-off license fees to a subscription cost which is no longer identified as CAPex but OPEX.
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Remote implementation & Self-service set up: Some cloud-based PMSs now offer an easy self-set-up, which is more intuitive and user-friendly and training can often be done through online video training platforms. Self-set-up and remote training has become especially popular during the 2020 lockdowns.
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Mobile check-in & digital registration forms: A lot of PMS providers have started to offer mobile and self-check-in kiosks, as well as solutions for the digital registration form. This has been boosted through the pandemic and the need for a contactless guest journey. However, many hotels work with specialized solutions for these processes which have an integration with their PMS.
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Open API’s & the platform economy: Many hotels and accommodation providers are looking for a modular tech stack that fits their needs and works with a multitude of different 3rd party solutions which integrate to the PMS. To facilitate integrations modern PMS vendors offer “open APIs” (Application Programming Interfaces) and consider the PMS, as the central platform giving hotels the flexibility to easily turn on or off 3rd party apps.
What are the most important features to look for in a Property Management System (PMS)?
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User-friendly interface: A good PMS’s purpose is to streamline processes and improve operations. To make sure new and seasonal staff can get on board rapidly and easily, choose a PMS with an intuitive, user-friendly interface.
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Inventory management: This feature of the PMS checks room availability and status, and automatically updates room inventory (This should be automatically be updated across different channels and the website booking engine). This function should monitor double bookings and allow group reservations.
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Drag & drop calendar: A drag & drop calendar will make the hotel’s receptionist's life much easier. It allows them to change reservations dates and length in 1 click, check the rates and availability for any day in one single gaze and make reservations quickly while keeping the inventory automatically up to date.
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Mobile Accessibility: Mobile Accessibility enables hotel staff to be more efficient and improve guest service. They can, for example, greet guests and do an easy check-in procedure without being behind a front desk, for more personalised service.
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KPI Dashboard: A dynamic KPI dashboard helps management easily check the hotel’s performance, keep track of objectives and develop new strategies.
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Personalized taxes, fees, & policies: The PMS should enable the hotel to customise taxes, fees, and cancellation policies.
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E-payments: The PMS should be able to collect e-payments, and process different types and categories of payments.
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Reservation emails: The system should automatically send confirmation emails to guests after they complete a booking.
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Local compliance: The PMS should comply with local governmental reporting requirements and regulations.
What are the key integrations you should look for when selecting a Property Management System (PMS) for your hotel?
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Booking Engine (IBE): It is key that the PMS is integrated with the hotel’s website booking engine. This is key to always ensure that the booking engine shows the up-to-date inventory available and its price point. This will improve the hotel’s website conversion rate and prevent double bookings.
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Channel Manager: If a hotel is present on multiple OTA websites, the hotel will want to integrate the PMS with a channel manager. Integrating the two will let hoteliers automatically update the inventory and rates across various OTAs instantly, in just one click.
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Revenue Management System: A lot of the data hoteliers need for good revenue management can be found in the PMS. A good integration helps hoteliers increase their competitive advantage, by increasing the customer’s conversion rate. It will automatically update the rates, while connecting to inventory, and will make sure the balance between price and occupancy is perfectly respected at all times.
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CRM System: A good integration between a customer relationship management system and a property management system is extremely important. It enables hoteliers to store data such as stay history, preferred room types, feedback from previous stays, and much more and lets hoteliers know where the data is, who has access to it and who can control it. This will help hoteliers increase guest satisfaction by making sure every touchpoint is meaningful and relevant.
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Accounting Software: Having a good integration between the PMS and accounting software reduces errors and excludes double entry. It also saves considerable time spent on reconciliation. Hoteliers can also have access to real-time information instantly and easily analyse custom reports.
What is the typical pricing for a Property Management System (PMS)?
For a cloud-based PMS on a subscription model, hotels can expect to pay between €6 and €17 per room per month. For a server-based PMS, hoteliers can expect to pay a one-time license fee between €10’000 and €20’000.
What to expect when implementing a Property Management System (PMS)?
The estimated time for a PMS implementation is 2 to 6 weeks however, many vendors have a lead time of a couple of months before they can start a new implementation project. If hoteliers choose a server-based PMS, the implementation time will depend on the number of rooms and front desk workstations the hotel has, whether or not the hotel needs to change the data server, and finally on how many reservations need to be imported. If the hotelier chooses a cloud-based PMS, the implementation time will depend on the number of rooms the hotel has, on how many reservations need to be imported, on who is importing the data (the provider or the hotel), and finally on the customization of the hotelier requires.