Improve your hotel's chances of getting booked by meeting thedemand curve real-time.
The rise in internet usage and growth in its penetration in India and across the globe has brought about a vast change in consumer behaviour. Today consumers are more self-reliant when it comes to taking decisions regarding travel and hospitality. They turn to their friends on social media platforms and various review sites to assess the comfort and service levels of a hotel.
Taking travel and stay related decisions have also become impromptu, especially with the anytime accessibility to best hotel deals online through hand-held devices and the convenience offered by online transactions. In fact, according to Google the online hotel booking in India is expected to grow from 0.8 to 1.8 billion USD by 2016.
This means there is a huge potential for hoteliers across all sizes and star categories to improve their profitability by selling inventory online – both through their own booking engine and through online demand generators.
The current online distribution scenario is chaotic and complex:
Manually updating bookings, modifications and cancellations into THE HOTEL's PMS
Manually pushing rate and inventory to various channels through individual extranets
Time consuming and prone to error processes
Heavily labour dependant
Lag in response time to consumer demands
Tracking and measuring channel performance and yield is cumbersome
Most of the hotelier's time is spent on channel, inventory and rate management resulting in reduced focus on customer service. High chances of error in the reservation process often leads to unpleasing circumstances of under booking or over booking scenarios that not only spoils the reputation of the hotel but also garners negative online reviews. Since the reservation desk is not open 24x7,the hotel cannot make its rooms available for booking round-the-clock, missing out on the opportunity to improve revenues.
What is real-time distribution?
Real-time distribution involves connecting supply with demand real-time. This means hoteliers and demand generators can automate their reservation processes streamlining their operations, while improving transactions and customer service.
RezNext is committed to simplifying the complex distribution environment and provides a real-time, two-way connect between a hotel's property management system and electronic distribution channels – OTA, GDS. Thus allowing hotels to simplify their channel management, dynamically publish rates, and even push last minute availability for booking. A real-time two way connect, gives hoteliers control over their distribution strategy with all updates flowing to and fro real-time from hotel's property management system.
How does an intelligent real-time distribution platform work?
RezNext's intelligent distribution platform lets hoteliers leverage the concept of real-time distribution to its fullest. RezNext empowers its customers with real-time revenue intelligence on booking trends, source of booking, occupancy and availability, high yielding channels for specific business segments or geographies and more available as needed 24x7. Based on these smart analytics hoteliers can look at realigning their distribution strategy to the current market scenario to the point of controlling inventory on low performing-high commission channels while increasing inventory flow to high performing low commission channels.
An intelligent real-time distribution model is the need-of-the-hour for each hotelier today to achieve strategic distribution that is not only ROI oriented but also delivers higher consumer experience.
Meet ReD, our real-time distribution expert. ReD is keen to help hoteliers arrive at the most effective distribution strategy for their hotels. Since no two hotels are the same, there is no fixed formula to arrive at a distribution strategy that can be adopted across the industry. Rather distribution strategy should be carefully planned keeping in mind the target audience, market condition and revenue goals of the hotel. ReD will help you analyse your current distribution strategy and focus your efforts on the best yielding online channels only.
Real-time distribution comics
There are multiple challenging scenarios that a hotelier has to tackle in his day-to-day job. These include over/under booking situation, pricing issues, driving occupancy, improving revenue, guest satisfaction and more. A real-time distribution model can help resolve these challenges quickly and efficiently. Here's an interesting comic book on the different scenarios that hoteliers encounter in the absence of a real-time distribution environment and recommendations by ReD, our real-time distribution expert, addressing those challenges.