Trend 17: Property Management Systems (PMSs) aim to conquer new frontiers

PMSs are at the centre of many industry conversations and debates. I’ve rarely come across a “perfect PMS”. It never seems good enough or “right” enough. Sometimes it’s the reporting and sometimes it’s the lack of interoperability and connectivity. And then there is the hosted version versus the cloud version. Good support or no one to pick up the phone. The high costs and many, many more. 

Since the PMS is constantly being talked about and is at the centre of most hotel technology discussions, it is clear that PMSs will continue to evolve. But in what areas? What do we expect from the new generation PMSs and the current market leaders in this field? Many of the themes in demand are familiar:

Two companies leading the way in new generation PMS are Cloudbeds, which received an additional $150m in funding in 2021, and Mews, which received an additional $185m at the end of 2022.

What do these companies hope to achieve with their new funding? Consolidation and scaling or an equal emphasis on product development? Are they trying to fill some of the gaps above?

Mews addresses some of these items in their blog on how they intend to use their funding. “We were the first PMS to open our APIs. The first to fully integrate additional space solutions like parking. The first to offer memberships and long-term stays as part of the same platform. And we’ll continue pushing our industry forward, enabling new revenue streams and business models for hotels while also giving guests more holistic hospitality. “

But is it all down to the PMS companies? This recent article from Skift says that hotels are extremely reluctant to spend on technology despite the clear potential for a good return on investment.

And if you want a fascinating insight from the founder of one of the earliest and most successful PMS companies of all time, read this interview with Keith Gruen, co-founder of Fidelio Property Management Systems.

Finally, if you are interested how PMSs have evolved, here is a great infographic from Shiji.

There will definitely be more to come on the PMS front in the next few years – whether the whole space develops into a more homogeneous troupe of players supporting the whole ecosystem, or lone wolves develop microcosms in which only they can thrive, only time will tell!

You might also like
Tags: Distribution Trends 2023

More Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed