How Hoteliers Can Combat The Share Economy

August 13th, 2019 Lisa Livingston Hotel PMS

The sharing economy is a relatively new concept only having been around for approximately ten years. Sharing economy is nothing more than a consumer or company that can provide an under-utilized good to a consumer for money. However, the sharing economy hasn’t had a profound effect on the hotel industry until very recently. With most transactions occurring online between private individuals, hoteliers often feel as though they are being left out of the vacation planning loop. The traditional hospitality marketplace is challenged with the need to understand the guest experience and provide the best possible experience at the lowest price, but more importantly offer the most convenient stay experience. With individuals renting out their unused rooms or vacation villas when not in use, travelers will continue to seek these alternatives to traditional hotel stays. 

Whether your property caters to millennials or business travelers, vendors are emerging with alternatives to traditional hotel stays. AirBnB, VRBO, HomeAway and others are just a few that are taking the sharing economy hotel industry by storm. According to Hotel News Now, some hoteliers are concerned about serious consequences to the hotel industry. On the flip side, there are hoteliers that are confident in their brands who believe that while sharing economy vendors are competition, they can still provide safety and security a traditional hotel can provide. 

The truth remains the same; the sharing economy is not going anywhere any time soon in the hotel industry. In fact, one of the biggest pain points we hear at InnQuest is when clients need to deal with third party channel managers. Dealing with third party channel managers can increase support issues, cause finger pointing, and offer a lower level of control. To eliminate frustration and offer independent hoteliers the ability to utilize the sharing economy space, InnQuest has created Stayfull – our Channel Manager. Stayfull was designed with hoteliers in mind. Managing all distribution channels and OTAs with one login is made easy with Stayfull. In addition, Stayfull allows quick updates and error-free distribution, while greatly reducing the amount of admin work. Stayfull is the easiest way to increase your property’s online bookings and revenue even in the sharing economy space. Offering many popular channels, Stayfull will also be catering to the sharing economy giant AirBnB, allowing independent hoteliers the opportunity to list their rooms with individuals who are shopping on alternative channels other than the behemoths like Booking.com and Expedia.com.

Stayfull is approaching the beta testing phase with roomMaster, but once the testing period is over, InnQuest executives believe that this will create additional value for independent hoteliers looking for a large online presence without breaking the bank. When developing the needed channel manager, suggestions were accepted by InnQuest clients on channels they utilized most often. After all, InnQuest listens to clients for any needs that surface with their hotel PMS.

Contact our Sales Team today to find out more about Stayfull to see if it’s the right fit for your property. 

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InnQuest Software is a leading technology provider for the hospitality industry. For over 25 years, innQuest has combined hotelier experience with innovative technology to deliver an all-in-one solution that empowers hotels to attract guests, drive customer loyalty, and increase profits. Our flagship property management software, roomMaster, helps manage over 5,500 properties across 100 countries. InnQuest develops scalable solutions ranging from a Hotel PMSCloud PMSChannel ManagerHotel CRM and helps properties enable guests to Book Direct. We believe that everyone deserves a great guest experience, whether they’re staying at a small B&B, a thousand-room resort, or anywhere in between.

Call us today at 1.813.288.4900, or email us at sales@innquest.com. We will be happy to walk you through innQuest’s solutions.