The global financial market is suffering from major incidents like bank bankruptcies and stock market crashes. The hospitality industry also suffers from this ill fate. Hotel occupancy rates continue to decrease in countries like the United States, Germany and other economies around the world.
Hoteliers are constantly thinking of ways to improve their profit margin and cash flow, hoping that their hotels can survive this uncertain period. Cutting hotel rates in hopes of a higher occupancy level is definitely not the way to go. Hotel consultants have warned that this is the direct opposite of good revenue management and will bring bad consequences.
Some hotels even got out of their way to impose hidden hotel fees. However, this will not solve the problem for the long term. The whole goal of the hospitality industry - to ensure optimum guest satisfaction - will then be replaced by short-term-profit-mentality managers whose main goal is to try and squeeze every penny out of their guests. With this mentality, hotels can't survive for long as guests will leave one by one.
Well established hotels and hotel chains will seek for revenue managers to overcome this issue. At this unpredictable time, many hotels are already struggling to survive, let alone forking out another sum of money to employ a revenue manager. Therefore, management level staffs of every department have to be trained to have an entrepreneur mindset and manage the hotel as if they are owners of the hotel.
Revenue management has to be done at the core - hotel operations. Hospitality systems which are able to provide management with the vital tools to make accurate business decisions are essential for revenue optimization purposes. E-HORS (Electronic Hotel Operations and Reservation System) was designed to drive sales, occupancy rate and profitability of a hotel. It is not just a property management system.
In a traditional hotel, group reservations will only be released a few days before the date of the group's arrival if no deposit is received by the Sales department. This increases the risks of high level vacant rooms if reservations are canceled days before arrival. It will be too late to take relevant steps as time is limited. E-HORS counts from the day of reservation instead of day of check in. This means that rooms will be released days after reservation (depending on the management) if the rooms are not booked with a deposit. The sales department will then be able to sort out opportunities and channels to sell the rooms released.
Experts can't emphasize enough the importance of monitoring market segment activities and occupancy levels daily to have effective revenue management. Normally, a lot of effort is needed to compile data for reporting purposes. Why waste time on collecting information when more time can be used to create effective strategies when a report is readily available? E-HORS customize reports the way that the management wants it. Why compromise on basic reports when customized management reports can be essential decision making tools? A lot of time can be saved and human resources better utilized for other purposes. On top of that, E-HORS reports are available real time at a click of a button.
Research has also shown that in 2008, 37%-38% of all hotel bookings will be generated from the Internet. Therefore, it is of utmost importance for a hotel to have its own online reservation portal. Tech-savvy travelers make hotel bookings online to save cost on calling a hotel for reservations especially when they are planning for an overseas trip. Having an online reservation portal at the hotel's website will generate more revenue and better cash flow. In E-HORS, an online reservation portal is available with the hotel management having full control. No commission needs to be paid to third parties. E-HORS online reservation portal has a payment gateway in which guests have to pay in full with their credit card in order to secure their reservation.
On top of these features in E-HORS which will help in managing a hotel's revenue, E-HORS is also an integrated hospitality system which covers all the needs of a hotel. "E-HORS closes the gap of an important hospitality need for integrated hospitality systems. We believe that this complete solution is the key to higher efficiency, productivity and profitability of a hotel," said Wouter Piët, the CEO and founder of E-HORS.
About E-HORS (Electronic Hotel Operations & Reservation System)
E-Hors is a dynamic software house fully dedicated to the hospitality industry. It has offices in Malaysia, The Netherlands, and Indonesia and is expanding fast. It is a company owned by Dutch investors and managed by seasoned Dutch IT experts who have experience in the hospitality business and the IT industry. E-HORS is a single integrated solution which covers all aspects of a hotel's management and operations. The innovative approaches that E-HORS is using have resulted in a long list of firsts, including the first hospitality system without a night audit! Please visit www.ehors.com or write to firstname.lastname@example.org to realize the unique benefits that E-HORS can offer to increase your hotel's productivity, efficiency and profits.