When implementing a dynamic pricing strategy, one of the first step is to choose an adapted channel manager adapted to the needs and budget of your hotel. Indeed, if we are going to update our rates everyday, we can definitely not afford the time to go through the extranet of each OTA (Online Travel Agency) one by one. But, which one choosing then?
What is a Channel Manager?
A Channel Manager is:
- A online cloud-based technology solution (software based solutions are disappearing)
- Allowing to centralize on a unique platform
- The daily management of your distribution channels : your own website booking button and OTAs (Online Travel Agencies, such as Expedia, Booking.com, Easy-to-book etc…).
A Channel Manager allows you to:
- Gain time and efficiency: no need to log-in in each OTA extranet one by one, and inventories are automatically adjusted, avoid over-booking and manage more cautiously your availability.
- Increase your sales: you can sell on much more OTA and therefore get more bookings opportunities.
- Increase your RevPar: you will now be able to start practicing revenue management practices on a daily basis to push up your Occupancy and ADR.
- Increase your direct sales: Put your hotel website at the center of the pricing strategy (using a Booking Button). And OTAs as powerful marketing tools, many travelers compare rates on them, and then book directly with you.
- Get a better insight of your distribution strategy: most of channel managers offer statistic graphs and reports.
Looking for a Channel Manager Solution…
I used to work in hotels which had already their own channel manager system prior my arrival. Then, when I started this HopTour through Latin America, I did not really know which channel manager to advise to hotels. I knew one or two that everybody talks about (SiteMinder and bbliverate), but for very small properties with less than 10 beds, the 80 USD$ that they ask for monthly seemed a bit over-budget.
Then, I started to make my own study market of the different channel managers available using Google… and believe me, they are a lot of them! It’s a real jungle out there!
I finally posted a message on a very active LinkedIn Group “Sales Marketing and Revenue Technology Hotel Professionals Group“. I received quickly more than 20 answers, coming mostly from channel manager providers sales representatives, followed by a few recommandations from Hoteliers. And in-between all these answers, I met Ben, from HotelMinder, my new best friend solutions-finder expert!
Ask HotelMinder!
Ben is a French/Irish and very nice guy always willing to help. He manages his own Bed & Breakfast in Dublin. And as he was looking as well for a Channel Manager / PMS, he did extensive researches on the subject. He noticed that there was a bit of everything on Internet, and that it was quite difficult to get information. He then started consulting services to help hotels to choose the best solution (and save a lot of money!). Contact him: ben@hotelminder.com
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When implementing a dynamic pricing strategy, one of the first step is to choose an adapted channel manager adapted to the needs and budget of your hotel. Indeed, if we are going to update our rates everyday, we can definitely not afford the time to go through the extranet of each OTA (Online Travel Agency) one by one. But, which one choosing then?
What is a Channel Manager?
A Channel Manager is:
- A online cloud-based technology solution (software based solutions are disappearing)
- Allowing to centralize on a unique platform
- The daily management of your distribution channels : your own website booking button and OTAs (Online Travel Agencies, such as Expedia, Booking.com, Easy-to-book etc…).
A Channel Manager allows you to:
- Gain time and efficiency: no need to log-in in each OTA extranet one by one, and inventories are automatically adjusted, avoid over-booking and manage more cautiously your availability.
- Increase your sales: you can sell on much more OTA and therefore get more bookings opportunities.
- Increase your RevPar: you will now be able to start practicing revenue management practices on a daily basis to push up your Occupancy and ADR.
- Increase your direct sales: Put your hotel website at the center of the pricing strategy (using a Booking Button). And OTAs as powerful marketing tools, many travelers compare rates on them, and then book directly with you.
- Get a better insight of your distribution strategy: most of channel managers offer statistic graphs and reports.
Looking for a Channel Manager Solution…
I used to work in hotels which had already their own channel manager system prior my arrival. Then, when I started this HopTour through Latin America, I did not really know which channel manager to advise to hotels. I knew one or two that everybody talks about (SiteMinder and bbliverate), but for very small properties with less than 10 beds, the 80 USD$ that they ask for monthly seemed a bit over-budget.
Then, I started to make my own study market of the different channel managers available using Google… and believe me, they are a lot of them! It’s a real jungle out there!
I finally posted a message on a very active LinkedIn Group “Sales Marketing and Revenue Technology Hotel Professionals Group“. I received quickly more than 20 answers, coming mostly from channel manager providers sales representatives, followed by a few recommandations from Hoteliers. And in-between all these answers, I met Ben, from HotelMinder, my new best friend solutions-finder expert!
Ask HotelMinder!
Ben is a French/Irish and very nice guy always willing to help. He manages his own Bed & Breakfast in Dublin. And as he was looking as well for a Channel Manager / PMS, he did extensive researches on the subject. He noticed that there was a bit of everything on Internet, and that it was quite difficult to get information. He then started consulting services to help hotels to choose the best solution (and save a lot of money!). Contact him: ben@hotelminder.com