CASE STUDY: Selecting a Property Management System
The Challenge
A small property management firm with less than 25 properties faced operational inefficiencies due to their outdated Property Management System (PMS). Their legacy PMS was not only expensive but limited in capabilities. It connected to Online Travel Agencies (OTAs) through third parties, lacked automation, and missed essential features like owner statements and an integrated accounting system. The managers did not feel they had the expertise to vet and implement a new PMS.
The Solution
The company chose to transition to a modern PMS, settling on 'Hostaway' after a presentation of three options of varying feature sets and pricing. The first step in the transition involved a thorough documentation of all legacy PMS settings. This was followed by replicating the older system's structure in Hostaway. Hostaway's capabilities were harnessed to introduce automation in messaging, dynamic pricing, and task management. Additionally, direct API integrations with OTAs eliminated the need for third-party connectors, and the direct-to-book feature was revamped for both efficiency and improved guest experience.
The Results
With the new PMS, operational costs were reduced due to the elimination of third-party OTA connectors and the expensive legacy system. The direct API integrations improved booking processes, while automation streamlined operations. The redesigned direct-to-book capability led to more direct bookings, and the new detailed owner statements and accounting system offered clarity and confidence to property owners.
