Getting The Best Benefits Of Your Channel Management In Less Than Half An Hour

Managing hotels is no child’s play; there are too many responsibilities should and not enough time to do all one is often expected to do. One of the critical challenges in this regard is managing channels which can be a daunting full-day job. Fortunately, this job needs no more than half an hour of your time if you have deployed a channel management system in your hotel, as the case may be.

As its name suggests, a channel manager is any system or software that provides a single space for managing your channel in a single place. It is a valuable asset in the hands of managers due to its several advantages, two of which must be highlighted here. Firstly, it can provide all the channel information, including analytics, in a single place; secondly, it can automate several daunting tasks involving channel management, including price management. Property management etc.

Taken together, these advantages will mean that you only need to spend a few minutes of your preciously busy day handling the channels. Let us now take a look at the things you will have to do in those few minutes (please note that we are here assuming the channel manager in question is that from Aiosell as channel manager differ from each other a lot and no other provides similar advantages):

• Start on your rates and inventories -The first natural step when working with a channel manager is, of course, to handle your rates and stocks. You might need to update the rate sheet or publish it. A channel manager will provide real-time information about the existing inventories - both booked and available- and the rates charged for the same. You will see your rates with a full breakdown according to various commissions payable and other details.
• Setting rates -The rates can be set manually, or one can go for dynamic pricing if your channel manager provides the option. Dynamic pricing can automate the pricing based on the market patterns for generating maximum revenue and thus relieve you of one of the most significant daily responsibilities.
• Inventory updation - Occasionally, you might have to update the items in the inventory itself if there are any changes, additions, or updates to the rooms in your hotel. Such changes will show quickly in the newer inventory list.
• Set different rates for channels -Your channel manager should be appropriately connected with various Online Travel Agents (OTAs) and media. One of the most significant advantages of using a powerful channel manager is that it can automatically help you set different channel rates. That is done with the help of a ‘channel multiplier’ rate, that is, the rate at which the asked price will be different for a given channel compared to the general cost. So, for example, you can set a channel price at ‘1.2’ for a given platform, which shall set your price to be twenty per cent higher than the general rate. It is a handy feature as it can help you charge a higher rate on channels that may ask for a higher commission, thus keeping your revenue the same.
• Check the reviews -It is often said that all publicity is good; however, that is not necessarily the case in the hospitality industry, as bad reviews can hurt a lot. While ensuring a smooth customer experience is the best way to get positive reviews and avoid bad ones, one should always keep an eye on the various reviews being given to your enterprise. Fortunately, that can be quickly done with the review manager provided by your channel manager, which shall help you keep an eye on all the reviews across various platforms in a single place.
• Study analytics and reports -Naturally, as a manager, you are responsible for taking a timely decision - and your channel manager can help you take a timely and informed decision through various reports and analytics. It is also ideal if this information is given a graphical treatment to make it easy to grasp visually for you at a glance. That can help in prompt decision-making and give you an edge over other competitors

It must be understood that the various strategies mentioned above can help one manage one’s channels online only if one goes for a potent channel management software.

Finding the perfect channel manager

It is natural to wonder what makes a channel manager perfect - well, the following are some things that can make a channel manager perfect.

• A perfect channel manager will allow the option of dynamic pricing to automate this time-consuming and crucial task.
• It will be fully integrated into a property management system to reduce redundancies and provide a seamless experience.
• It will be able to handle whole chains of hotels at once.
• It shall provide all the valuable information concisely and intuitively.
• It should be integrated into a powerful booking engine.
• It should also have integrated software for reviews and reputation management.
• The system should be able to fully integrate ‘no shows’ and ‘cancellations’ without creating an interruption experience.
• One should always be able to manage OTA connections - a critical test of the quality of a channel manager is how easy it is to set up a new OTA partner.
• One should be able to update the rooms and other inventories as required.
• It should also be fully integrated with accounts and provide room for information like GST, VAT, or other taxes.
• One should be able to set different rates for different channels.
• The channel provider should be an experienced vendor with several years of experience in the industry and an international presence spread over several countries.

Aiosell is the only platform that combines all those tremendous advantages in a single place - that is why it is the best hotel channel manager. Book a demo with us if you are considering getting channel manager software to empower your hospitality business.