The diversification of the marketing strategy is one of the key success factors in any industry. With the hospitality-related technology on the surge, it’s getting easier than ever to manage multiple booking channels. And through the real-time inventory feature of your software, you can have efficient distribution of beds and rooms. Here is more about it and its advantages over static allocation.
Static allocation or real-time inventory
First, let’s start with what real-time inventory is. This type of inventory makes it possible to gather all your rooms and beds in one so-called pool, so that the various channels have access to them. Let’s say you have connected your property to three different channels. All three of them have access to your total inventory. When a unit of your inventory is booked, the total inventory is decreased accordingly to prevent overbooking.
In contrast, when static allocation used, each channel is allocated a certain number of rooms and cannot from the allotments of other channels. The result is that when a channel sells the designated inventory, it cannot rely on rooms allocated to the other channels.
Key benefits of real-time inventory
Here is a short list of some of the most important reasons why you need real-time inventory and how it will ease operations, give you greater flexibility and lead to an improved bottom line:
- Automation of processes
- Probably the best feature of a real-time inventory systems is that it automates processes. And when it comes to an static allocation strategy, there is a serious manual factor involved. First, each channel must be allocated certain inventory, and then you to react accordingly to the to the market situation. Let's say you have sold all your rooms on a given site, you'll need to log in allocate some more rooms taking from another site which hasn't sold any room, for example. As you see the process is quite manual and is to be handled with utmost care to avoid mistakes. In contrast, real-time inventory takes care of all the operations, so that each of your distribution channels has enough rooms to sell, saving you a lot of time and efforts.
- Managing Several Distribution Channels
- Nowadays, a modern PMS solution with a well-integrated channel manager allows you run your small or medium-sized hotel like a large hotel. In other words, you can list your rooms on many websites minimising the overbooking risk. Obviously, the channel manager of your PMS has to support real-time inventory management to handle the allocation of rooms on each of the channels you've joined.
- Increased revenue
- While operations automation is by far the most important feature of real-time inventory, the most important result is more revenue. After choosing the best distribution channels for your hotel, you can leave the tedious and time-consuming work to your hotel PMS solution, and only bear its fruits – the increased revenue.
Switching to a modern PMS solution with a well-integrated channel manager will let you to take advantage of a real-time inventory strategy that can save you both time and money when it comes to efficiently running your hotel. Manage your hotel rooms the way you want to. Forget about the stress of single-handedly managing individual rooms or beds, and let your PMS do the rest for you.
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About Clock Software
Clock Software is a global provider of cloud-based property management systems (PMS), integrated online distribution, online & kiosk hotel self check-in solutions and mobile & in-room guest engagement systems with customers in more than 65 countries.