Hospitality API: The Ultimate Guide Every Hotelier Must Explore
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 APIs 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.
How is API and How Does it Work in Hospitality Industry?
APIs (Application Programming Interfaces) in the hospitality industry act as digital connectors. They allow different software systems to communicate and share data seamlessly. You can consider APIs as translators. They take information from one system like a hotel’s booking platform and make it accessible to others, such as third-party travel websites.
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.
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
A Price Comparison API, often called a hotel rate shopper, provides real-time updates on room prices from various platforms alongside historical price trends. This helps hoteliers determine the most competitive pricing for their rooms. By analyzing your competitors pricing strategies, you can craft your own plan to attract more bookings.
With accurate data at your fingertips, you can offer timely discounts and compelling deals that appeal to guests, increasing your chances of filling rooms. In a market where pricing plays a key role, leveraging a Price Comparison API ensures you stay ahead of the competition while boosting your revenue.
Check out MakCorps. It delivers real-time, accurate pricing data from over 200 vendors in a single request. Plus, it supports multiple currencies, making it easier to cater to a global audience and streamline your pricing strategy.
Watch the following video to see how MakCorps API can give you a competitive edge.
Booking API
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
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.
Apart from this, APIs are also used in other areas like payment gateways, loyalty programs, and reporting tools. They integrate seamlessly with systems like PMS that enables automated updates, secure transactions, and personalized guest experiences for smoother operations.
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.
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 that hoteliers like yours can rely on this fast-adapting technology to be at your side in the future as well.
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.
1. Scalability
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.
3. Usability
The API you choose should be easy to access and holds great usability. Only then it will be able to improve the overall productivity of the business.
4. Budget
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 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.
Conclusion:
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. 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 operations more efficient.
