What's Happening?
The Priory Hotel, located in the historic town of Caerleon, has successfully integrated Access's Revenue Management System (RMS) to streamline its operations and improve profitability. Previously, the hotel relied on Access's Property Management System (PMS) but lacked a dedicated revenue manager, which made it challenging for Deputy General Manager Attila Juhasz to prioritize rate optimization. The hotel had been outsourcing revenue management services at a significant cost, which prompted the need for a more affordable and efficient solution. The introduction of Access's RMS provided automated rate management, easy onboarding, and a Strategy Builder tool, which enabled data-driven decisions. This integration resulted in significant time savings,
improved occupancy and average rates, and exceptional value for money compared to previous outsourced solutions.
Why It's Important?
The implementation of Access's RMS at The Priory Hotel highlights the growing importance of technology in the hospitality industry, particularly for small and mid-sized establishments. By automating revenue management, the hotel can focus more on enhancing guest experiences and operational efficiency. This move not only reduces costs associated with outsourcing but also empowers the hotel to make informed pricing decisions, potentially increasing profitability. The success of this integration could encourage other hotels to adopt similar technological solutions, thereby transforming how revenue management is approached in the industry. The broader impact on the U.S. hospitality sector could be significant, as more businesses seek to leverage technology to remain competitive and meet evolving customer expectations.
What's Next?
Following the successful integration of the RMS, The Priory Hotel may continue to explore additional technological solutions to further enhance its operations and guest services. The positive outcomes from this implementation could lead to increased interest from other hotels in adopting similar systems. As the hospitality industry continues to recover and adapt post-pandemic, the emphasis on technology-driven solutions is likely to grow. The Access Group, as a provider of business management software, may also expand its offerings and support to cater to the increasing demand for integrated technological solutions in the hospitality sector.
