As a hotel business owner, it is crucial that you remain updated with the recent and trending technology updates to stay ahead of the competition. Also, it is important to maintain your stand and position in the market. Thus, we have come up with the latest hotel technology trend which we know as API today. Almost every other hotel is updated with smart technology and has successfully implemented API software solutions to ensure their growth in the upcoming future.
If you are still not familiar with What is API in hotel industry and the perks it holds, don’t worry, we have got you covered. We have come up with the hotelier’s guide to API which unveils everything you need to know and what potential it holds for your business.
What Is API In Hotel Industry?
We use API in our day-to-day lives without even realizing it and use it to make our regular work much easier and handier. API or Application Program Interface is regulated through protocols that allow communication and data transmission among application software. It helps connect the various departments and systems of any business within an easy-access and easy-to-use interface. These APIs have made managing business processes much easier.
How Does API Work in Hospitality?
Hotel APIs help in various functions such as property management, customer relationship management, bookings, price comparison, and much more. All such API software solutions help hoteliers to guarantee a flawless booking and stay-in experience that eventually contributes to the overall enhancement of brand reputation. Hotels are relying on the excellence of such applications to help them boost their hotel occupancy rate and also provide them an edge over their competitors.
Upgrading regularly with such tech-enabled software that not only just supports your business functions but also updates you with real-time industry trends is the need of the hour. API has worked in the same manner for multiple hotel chains by replacing traditional hard-working methods that required much time and manual efforts with smart technology.
What is API In the Hospitality Industry?
API in the hospitality industry has made hoteliers offer their guests a richer suite of services and a better travel booking experience. All of this has contributed towards the immense growth of the entire hospitality by increasing the number of bookings. Also, it has led the hotel inventory to get consumed and offered by a wide variety of B2B segments. Progressing in such advancements, hotels are now able to promote customer loyalty and offer much ease to their customers.
What we can conclude with such fast and seamless processing is that it has changed the entire scenario and patterns of working in the hospitality industry and there is no looking back.
Benefits Of API Every Hotel Owner Should Be Aware Of?
Here are the API benefits for hoteliers you need to know about:
1. Enjoy More Bookings
Hotels can now increase their bookings by taking advantage of Pricing API. A Pricing API compares and informs you about the real-time pricing of your competitors and also gives you an update on the current price trends in your industry. This provides you leverage to set your pricing according to the recent updates and strategically plan revenue generation to earn profitability. One such hotel pricing API is Makcorps which provides you with instant price comparison from over 200+ OTA platforms in a single get result.
2. Consistent User Experience
By enhancing various hotel functions, APIS has helped hoteliers in providing a consistent user experience to their guests over time. The latest technology has enabled multiple areas and departments of the business to get synced and overall improved the stay of travelers. Providing ease and comfort to guests, hotels are now able to create brand loyalty among their customers through such software solutions.
3. Payment Compliant
Various API software has made revenue generation and management easier for hotel owners. Today, guests can browse through multiple inventories available and directly book them without making any physical contact with the hotel. Also, it has increased revenue generation as customers are now more comfortable and at ease while booking any hotel of their preference.
4. Future Compatible
With the ever-changing technology, it becomes quite difficult for business owners to remain updated and adjust to the changing trends. The introduction of API in the hospitality industry has changed that scenario as well. It’s clear that such software solutions will continue to offer businesses a greater suite of channels and services. So, as a hotelier, you can rely on this fast-adapting technology to be at your side in the future as well.
What Are the Major Types of APIs & Their Role in Hospitality?
There are 3 major types of hotel API that play an important role in boosting hotel profitability:
Price Comparison API
Price Comparison APIs are also known as hotel rate shopper which helps to get real-time updates on the price trends and historical hotel price data in your relative field to help you get a competitive advantage. A better knowledge of the pricing strategy of your competitors allows you to strategically plan yours and further attract more bookings. Provide on-time discounts and competitive offers to your guests and earn more bookings. Increase your revenue with the help of a hotel rate intelligence solution for creating an effective pricing strategy and also provide and enhance your brand reputation.
Booking API is another type that allows customers to directly review and make the booking online. It holds real-time updates on inventory availability, room features, details about nearby attractions, and current pricing for a particular hotel. This gives an insight into both the hotel and the locality which helps customers to make better decisions and accordingly pick a suitable option for them. Customers are much more at ease with such software solutions as they can confidently book their stay without having to worry much about any other difficulties even when they are not familiar with the location.
Review API is a software solution that updates customers with the actual reviews and ratings of a hotel property. This allows the guests with the actual information and personal staying-in experience and makes their decision-making process much faster. Also, you can get actual property pictures that guide customers to make up their minds. It helps hotels to earn and receive more bookings as the guests are much more satisfied already.
How Does API Help The Hotel Operation?
In the hospitality industry, hoteliers do not rely on a single software solution to make their process easy. Rather, there are a bunch of software solutions that when combined together create efficient working. In order for these APIs to generate productivity, they need to be connected with each other and integrated in such a manner that they contribute to the guest experience. Thus, hotel aggregator API Integration is the key that feasibly connects different departments of the hotel with each other to generate results. It brings the world full of innovations closer to the hospitality industry.
Whether it’s revenue management in hotels, property management, customer relationship management, brand building, or booking management, everything can be done using suitable API software for your business. For instance, many hotels connect their data sources like PMS, CRM, or OTA and use that data to remarket to the guest after their stay. Hotels can automate this data-sharing process through API and save up on both time and cost involvement.
How Can You Choose the Right API For Your Hospitality Business Needs
When looking for the right API Integration Platform for your software solution, there are a few things to consider which are listed below.
The API platform you choose for your business must adapt and be able to scale to meet the changing needs of the business. Also, it should meet up with the business framework of both today and tomorrow.
2. Security and Privacy
Another main issue that the company faces today is safety and security. Businesses today need a software solution that includes features like intrusion detection and monitoring services. Integrating the private data of a hotel can put it at risk. Thus, you must choose a hotel pricing monitoring tool that is both secure and has special security for privacy.
The API you choose should be easy to access and holds great usability. People operating in the hotel must be able to understand the functionalities well. Only then will you be able to improve the overall productivity of the business.
The pricing of the API you choose must align with the size of your business. Also, before purchasing any API you must take a check on the good returns on investments. Pricing matters and any investment made should contribute to the overall development of the business. Thus, choose a software solution on budget and according to your individual business needs.
5. Data Transformation
Hotels work with multiple systems and applications. Thus, a mismatch between input and output data is inevitable. For this reason, your API software must be able to handle any data transformation requirements to ensure data consistency. You can check for services like data mapping, and data transformations.
What Is The Future of APIs In The Hospitality Industry?
The ever-changing technology has improved and enhanced the working patterns in the hospitality industry. Thus, many hotels today are switching over to smart solutions to boost their productivity. APIs are compatible and will remain in trend in the upcoming future adapting to the unique business requirements in the hospitality industry. With such an efficient transformation, there is no looking back to the traditional methods that once required much time and effort. The great compatibility of APIs has made them a great tool for hoteliers and you can expect them to grow with time.
Hoteliers realize the importance of an excellent staying experience and would continue to work and involve all the solutions that provide remarkable results in the same. Also, since every other business is switching over to the automated process, maintaining the cut-throat competition and improving one’s business functions requires you to adapt to such transformations. You can eventually grow your profit by creating and providing a unique customer experience that draws their attention to you.
In this post, you have learned about everything you need to know about a hotelier’s guide to API. Choosing an API Solution for your business is an important task for any business owner. But if all the tasks and needs are analyzed accordingly, they can contribute to the immense success of your business. Simply choose a solution that aligns and helps with your business development. Now that you know all about API software, start your journey toward growth and make your business functions more efficient.