Leverage the Benefits of a Channel Manager
A channel manger which automates processes and reduces the risk of double bookings is a major asset for a successful distribution strategy.
One of main benefits of a channel manger is pooled inventory. A hotel that does not use a channel manger needs to split their inventory between all booking channels they are using to avoid double bookings.When using a channel manager which supports pooled inventory you can offer all rooms to all distribution channels at the same time. This not only increases your sales potential but may also have a positive impact on how the OTAs algorithms will rank your property.
The following strategies can be used to increase your revenue:
Maintain Prices and Availability
The channel manger will automatically synchronise your availability. Best practice is to allow guests to book at least one year in advance. Providing prices for at least a year ahead may also improve your ranking at OTAs. So make sure you always have prices for at least a year.
Use Dynamic Prices
You can optimise revenue by adjusting your prices based on demand. Beds24 has a yield optimizer function which automatically adjusts prices based on remaining availability and days remaining before check-in. Read more about yield management.
Use a Channel Manager which Integrates with your Booking Engine and PMS
If the channel manager is not fully integrated you will still need to perform manual adjustments. Therefore a channel manager which is not seamlessly integrated into your PMS and booking engine will create additional work. Beds24 offers an all-in-one solution which includes a Channel Manager, PMS and fully customisable booking engine.
A channel manager makes connecting new channels easy but each sales channel still requires attention. Evaluating new channels is always a good idea but generally it is most efficient to concentrate on the channels which work for you, meaning the ones that actually generate bookings for your business.