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“Hospitality is about trying to support multiple functions in one space,” says Miguel McKelvey from WeWork. Managing multiple properties across various online booking platforms can be a real headache. If you're struggling with booking channels, availability updates, and overbooking risks, a property channel manager might be your solution.
Wondering if you need any channel management solutions? Think about synchronization with OTAs and metasearch sites like Trip-com. Once your customers book a room, room availability is updated — everywhere, all at once. These are just tip-of-the-iceberg features you get from integration with channel managers. But before integrating, you need to choose the best channel manager, right?
This guide will help you pick the best-fit channel manager among dozens on the market based on your niche, workflows, and budget. Let’s get this party started!
What is channel management software?
What’s the simplest channel manager definition? It’s a central hub for accommodations, synchronizing room availability and pricing across booking platforms. The channel management function is a plus for more organized, up-to-date information.
86% of hoteliers report that ease of use in their channel manager PMS sync and integration with their revenue management system is essential for day-to-day operations. It gives you a chance not to miss valuable opportunities like last-minute booking, ensure rate parity, and make your operations much faster. Results are impressive — 80% of hospitality operators report it’s a great booster for their processes.
How is this achieved? Channel management solutions offer some major benefits for your business:
- Sync rates and reservations across your PMS, OTAs, and metasearch sites
- Automatically update room availability everywhere
- Prevent unauthorized discounts
- Reduce overbooking risks
Whether you're looking for the best channel manager for vacation rentals or a hotel channel manager, these tools make your operations much more efficient. Some even offer a free channel manager for hotels and rentals to get you started.
What exactly does a channel manager do?
So how does channel management work? You've just received a booking on Booking.com. In the blink of an eye, your channel manager updates your availability on all other connected platforms – be it Expedia, Airbnb, or your own website. Why is this so important? Because 700+ million room nights are booked through OTAs yearly. That's a lot of potential guests for your property.
Let's break down why using a travel channel manager is a game-changer:
- It saves tons of time.
How long will it take to update rates and availability on 10+ channels manually? Probably hours. Now imagine doing it with a single click. Some hoteliers report saving up to 20 hours per week with channel manager solutions.
- It Increases your revenue.
By enabling you to quickly adjust prices across all platforms, you can capitalize on demand fluctuations. Properties using channel managers have reported a 20% revenue boost.
- It helps you reach further.
Connect to a multitude of OTA channel managers and other booking platforms with ease. Some of the best hotel channel manager software boast connections to over 400 distribution channels. No spoilers yet, we’ll show you our top picks below.
- It prevents overbooking.
Nothing ruins a guest's experience (and your reputation) faster than an overbooking. Channel managers keep your inventory in sync across all platforms, dramatically reducing this risk. This is the power of distribution channels in hospitality industry.
- It makes you data-driven.
Most channel software comes with robust reporting tools, giving you insights into which channels perform best, and allowing you to refine your strategy continually.
With a growing OTA monopoly and competition, having a property channel manager is a must. But to decide what solution will fit you best, let’s figure out the functions they might have — and how they can boost you. Now that we figured out “what is channel manager” and “what does it do” questions, let’s separate it from another solution — GDS, as they have similarities.
