How can you use property management systems to stay up-to-date on industry trends?

1 Monitor your performance

One of the benefits of PMS is that they provide you with real-time data and analytics on your property's performance, such as occupancy, revenue, costs, guest satisfaction, and online reputation. You can use this information to compare your results with industry benchmarks and identify areas of improvement or opportunities for growth. For example, you can see how your rates and occupancy compare with your competitors and adjust your pricing strategy accordingly. You can also see how your guests rate your service and amenities and use their feedback to enhance your quality and loyalty.

2 Explore new features

PMS are constantly evolving and adding new features and integrations that can help you streamline your operations, optimize your marketing, and improve your guest experience. You can use PMS to explore new possibilities and test new ideas that can give you an edge in the market. For example, you can use PMS to integrate with channel managers and online travel agencies (OTAs) to expand your reach and visibility. You can also use PMS to integrate with smart devices and automation tools to offer your guests more convenience and personalization.

3 Learn from others

PMS are not only software platforms, but also learning resources and communities. You can use PMS to access educational content and training materials that can help you learn new skills and best practices in property management. You can also use PMS to connect with other property managers and owners who use the same system and share insights and experiences. For example, you can use PMS to join webinars, forums, blogs, podcasts, or newsletters that cover topics related to property management trends and challenges. You can also use PMS to network with peers and mentors who can offer you advice and support.