4 Ways NewBook Will Transform Your Business
Do you feel like your business could be doing better but you don’t know where to start? Or maybe you’ve been doing the same things for so long you’re used to things the way they are?
INCREASE YOUR DIRECT ONLINE RESERVATIONS
Our universal reservation engine offers a smooth, online experience for your guests and is one of the most cost effective ways to take online reservations. Reservations made through third party reservation sites cost anywhere between 4% and 30% commission, which can add up to hundreds of thousands of dollars per year. Imagine having that money to spend expanding your property or implementing systems that will give you a positive return on investment rather than just giving money away for nothing! Our reservation engine has increased our clients’ direct online reservations by 61% on average, which means their operating costs have dropped significantly and their revenue has increased.
You have 100 rooms at your property. You have 70% occupancy throughout the year and 50% of your reservations come through a third party website that charges 15% commission.
You’ll spend $229,950 on third party commission!
If these reservations were made through NewBook’s reservation engine, you would only spend $15,330 on fees!
POWER YOUR PROPERTY WITH ARTIFICIAL INTELLIGENCE
Have you ever used a virtual assistant? They’re pretty cool and make it easy to find information, make reservations and more. NewBook is about to launch NEW.B.I.E, our artificial intelligence reservation agent. NEW.B.I.E will help your guests make a reservation at your property by simply speaking to them – this means you can help your guests at any time of day or night and you won’t be paying a wage! Gen-Y uses the internet more than anyone else and is more accustomed to texting than talking. If you don’t offer live chat on your website, you are missing out on a large percentage of the market who refuse to call on the phone. Artificial intelligence is not just a fad; it’s here to stay so embrace this new technology and the growth and revenue benefits it will bring.
INCREASE REVENUE THROUGH ADD-ONS, PRE-PAYMENT PLANS & CANCELLATION INSURANCE
Happy customers are customers who feel their needs have been anticipated and as a result, they’ve had a fantastic experience at your property. AKA upselling. Just because you’ve sold all of your rooms for the next week doesn’t mean there aren’t any opportunities to get more revenue from your guests. Why not try expanding your service offering to grow your revenue streams while giving your guests a memorable experience. Extra revenue streams such as add-ons, activities, appointments and facility hire can be managed in one central system and better still, guests can book online when they book their accommodation.
Want to increase your reservation opportunities? Pre-payment plans offer your guests to lock in the best rates, while offering flexible payment plans. You control how far in advance you’d like to be paid in full so it’s a risk-free way to encourage more reservations.
You can also retain more revenue with cancellation insurance. Reduce the number of stressful phone calls you receive from guests demanding refunds when they cancel – you keep your revenue and the guest is reimbursed by the insurance provider.
If you were to calculate how much time you spend on administration and manual tasks, you would be horrified at the total! If you have a great PMS, you’ll only enter information once and the system will update anywhere else it needs to. Whether it’s accounting, updating availability when you receive a reservation, checking guests in and out, reporting or completing housekeeping tasks, our online platform makes everything much faster, saves wages and allows you to spend more time on other areas of your business. Here are a few examples of how NewBook saves you time:
- Whenever you receive an online reservation, no matter where it came from, your availability will automatically update in each channel, saving you from logging into each account.
- Staff can complete tasks on the go using a mobile or tablet, meaning they don’t have to write things down on paper or go back to the office to update management.
- Your accounting data can be automatically sent to your accounting system so you can quickly and easily reconcile transactions.
- Receive scheduled reports so you don’t have to manually search for information about your business. You can quickly see how you’re tracking at a glance, making it easier to respond to changes in the market.
Now is as good as any other time to implement changes in your business. There is no perfect time – you’re always going to be busy. Delaying will only cost you more each week that you miss out on additional reservations and efficiencies. Take the plunge today – you won’t regret it!