Using the right hospitality software tools can help you automate and streamline many of the processes involved in running an efficient and profitable hotel. It can help you adapt to industry trends and challenges and create the right strategy for revenue growth. And this is especially important in the hospitality industry as you have to deal with a great deal of tangible and intangible data on a regular basis in order to remain relevant and profitable.
Here are 5 hospitality software tools that you need in your hotel in 2023.
Top 5 hospitality software tools
The following hospitality software tools will help you create an efficient tech stack that promotes revenue growth in your hotel. These solutions are set to dominate the market next year, so make sure you include them in your revenue management strategy in order to create a profitable guest experience in your hotel.
Total profit platform RMS
A total profit platform is a specific type of revenue management system (RMS) that puts your guests at the centre of your business. It addresses a current shift in the hospitality market from a basic revenue management model to a total profitability approach.
So, what does this mean exactly?
To put it simply, total profitability is about creating a more profitable revenue optimisation strategy that takes into account all your revenue streams, not just your occupancy levels and operating costs.
At BEONx, we have created a hotel management software solution that helps businesses adapt to this new revenue management model. Our AI-driven platform makes it easy to shift from a RevPAR to a RevPAG approach. It does this by enabling you to analyse your historical data beyond a simple revenue per room calculation, taking into account additional streams from each and every touchpoint during a guest’s stay. And all this helps you optimise your guest journey and boost the bottom line of your business.
3D booking system
Another up-and-coming hospitality software tool that we will see dominate the market in 2023 is a 3D booking system. This is a new form of technology that is changing the way consumers make reservations.
A 3D booking system is an immersive experience that allows guests to see a hotel virtually before committing to a purchase decision. They can view all the features and attributes that would be included in any given reservation, including rooms, facilities, and amenities, using virtual technology. They can then make a selection based on their preferences and desires. This offers the guest maximum personalisation and ensures they know exactly what to expect before they arrive at a hotel.
A good example of a 3D booking system is Hotelverse. Hotels can use the company’s virtual reality technology to show guests the experience that they would offer them and attract more direct bookings to their hotel. It’s also a great way to upsell rooms and cross-sell ancillary services.
F&B dynamic pricing system
Another essential hospitality software solution that you need to be using in 2023 is an F&B dynamic pricing system. This is a tool used by hotels to include their food and beverage operations in their revenue management strategies. That way, they can embrace the total profitability model of the future and optimise the revenue generated by their bars and restaurants.
For example, DynamEat is a pioneering solution that aims to address this specific shift in the market. The company offers a hospitality software platform that helps hotels apply their revenue optimisation techniques to their food and beverage revenue streams. For instance, you can use the platform to adjust your prices in line with current demand, create dynamic strategies to optimize the profitability of your restaurant, and improve the overall satisfaction of guests dining at your hotel.
Guest communication tools
Guest communication tools are software platforms and applications that help you keep in constant communication with your guests, both before, during, and after their stay at your hotel. Examples include chatbots, CRM systems, email marketing tools, and solutions that help you promote your loyalty programmes, to name a few. By using the right AI and machine learning tools to digitalise your guest experience in this way, you can create more meaningful interactions throughout each stage of the guest journey.
Customer engagement tools
The final type of hospitality software tool that hotels all around the world will be investing in next year is customer engagement tools. These are tools that help you increase your direct reservations so that you can be less reliant on third-party OTAs.
For example, Triptease is a platform that aims to help hotels regain control of their distribution channels and increase their direct revenue streams. You can use the platform to reach new audiences, engage your most valuable guests, build personalised content for your website, and improve your overall user experience.
You can also use Triptease to directly target specific segments of the market, encourage them to make direct bookings through your website, and upsell and cross-sell ancillary services. And this makes it a highly valuable form of hospitality software that your business can’t afford to do without.