The Importance of Group Stays and your PMS
With Vacation Rentals becoming more popular year by year, making sure your vacation rentals and the software you use is equipped for group stays is an important factor. Weddings, conferences, and reunions and more are growing in the travel sector. To keep up with others in your area or create an offer they cannot, implementing group stays will help increase your bookings and revenue. In this article you will learn why group stays are important to vacation rentals and how TRACK Property Management Software can help!
Value Hotel’s Can’t Provide
It is near impossible to stay as a group in a hotel unless they are in a suite or a condominium style hotel, this is where your vacation rental comes in to play at a much more convenient and accommodating price for guests. Your guest’s will not only be under the same roof, they do not need to worry about different floors, corporate rules, or the burden of other guests.
While a vacation rental provides a more relaxing and secluded stay for the group of guests, vacation rentals also allow a more customizable stay including entertainment, activities, and amenities that hotels cannot provide. While a group is searching for the perfect place for their bachelorette party or reunion, they can customize their search with activities and amenities such as hot tub, beachfront, basketball court, pool table, and more making it more appealing for their group to choose a vacation rental over a hotel.
Saving money is important for travelers, so providing an at home kitchen for the group of travelers could play a large part in gaining the booking. Hotel’s typically do not offer full service kitchens, where a vacation rental can include additional features such as Keurig, air fryer, toaster, and more allowing the guests to dine in more saving their group money.
Now that you’ve won the competitive advantage of your vacation rental getting the booking from the group, let’s learn how your Property Management Software can create efficient payment rules and operations for accurate and seamless guest communications and charges.
Group Payment Rules
Master folios are a way to group and pay for a collection of individual guest folios. The folios assigned to a master folio can be assigned through the master folio itself or through the individual folio. Individual folios can have no charges transferred to a master folio, some charges or all charges. Charges can be moved to the master folio through automation, called routing rules, that run based on the action of checkout or can be transferred manually. Each folio that is part of the master folio can have it’s own routing rules applied. Routing rules are configured to be available company wide to all master folios and then selected to be used on a particular master folio. The routing rules can transfer all charges, a percentage of overall charges, rent only, a percentage of rent, a number of nights, required fees, percentage of all fees, etc. When routing rules are applied to a master folio additional conditions can be applied such as calendar dates of the nights that can be included, LOS requirements or limitations, and dollar amount caps.
If you’d like to watch TRACK’s release video on Master Folios, click here.