Sweet Inn’s New Property Management System (PMS) Nets the Highest Yields in Competitive Short-Term Vacation Rentals Market
Europe’s leading short-term rental provider claims best-in-class guest service and highest yields thanks to its new PMS created by team of 50 developers over the last year
Tel Aviv, Israel & London, UK -- Sweet Inn, the data and technology-driven hospitality start-up that offers more than 500 stylish vacation apartments in 10 major European cities, has become one of the first independent companies to develop a complete PMS (Property Management System) in-house to ac commodate its rapid growth in the European market.
The development of proprietary technology to manage properties is an unusual move in the hospitality sector, where companies rely on third-party software to handle the systems that sit behind the running of the business. The investment has paid off, with the company reporting the highest yields to date in the vacation rentals market.
The year-long project was undertaken by Sweet Inn's team of 50 developers and gives the hospitality start-up a significant edge over competitors by immediately increasing its yields - now widely considered as the highest in the industry* - and offering exceptional levels of guest services thanks to the bespoke technology.
Traditionally, hotel property management systems are used to manage front-office capabilities such as; bookings, guest check-in and out, room assignment, room rates and billing. However, hoteliers are increasingly challenged with providing a pers onalized guest experience while operating effectively in an extremely competitive market. The Sweet Inn PMS resolves this issue completely for the start-up and the results are already visible.
"Sweet Inn's PMS is the secret sauce for differentiation in the hospitality business," says Rachel Benhanoch, Sweet Inn's VP of Product. "The system brings us to a whole new level of efficiency in caring for our guests that are spread throughout 10 cities and located in hundreds of properties. It allows us to introduce unique capabilities such as a suite of home automation features that contribute to cost saving and energy optimization; features that aren't available through a generic PMS. The combination of our hospitality expertise and the system's capabilities has substantially increased our property yield."
The Sweet Inn PMS has been developed to cover the entire customer journey and the day-to-day management of operations. This includes:
- Early enquiry
- Booking and reservation management
- Check-in, in-stay care and services, check-out
- Local teams day-to-day operation
The next additions to the PMS will include a retention and loyalty program, automated cleaning and maintenance operations and the day-to-day operations of local teams.
The development of a tailored, in-house PMS stems from Sweet Inn's need to optimize its processes to fit its unique operational structure that sets it apart from its rivals. Its proprietary PMS removes unnecessary 'noise' associated with generic PMS that attempt to accommodate as many possible needs of various businesses rather than drilling down into the exact needs of individual companies. Sweet Inn's technology achieves high efficiency by championing a lean and accurate operation of exact scenarios, property types, business personas and financial processes that are at the core of Sweet Inn's brand.
Benhanoch conclud es: "Every action and transaction is 'fed back' into the system so our Business Intelligence team generates actionable insights that allow us to optimize our operation and provide our guests best-in-class hospitality experience."
*SOURCE - Based on data taken from Fornova
About Sweet Inn
Founded in 2014, Sweet Inn (www.sweetinn.com) is an international, fast-growing travel tech start-up that aims to innovate the hospitality industry. Its concept? Combining the services of a boutique hotel with stylish vacation apartments.
With professional local concierge teams that are available 24/7, and contemporary app that allows guests to chat with Guest Relations anytime, order additional services and get local tips, Sweet Inn guarantees travellers a worry-free vacation.
As both the leaseholder and exclusive property managers, Sweet Inn entrusts in-house interior designers with the decor of its apartments, which are all inspired by the unique character of the area surrounding the residence. Given its wide range of ideally located designer apartments, guests can experience a new way of local travel – with all the comforts of a hotel; high-speed Wi-Fi, luxurious mattresses, linens and towels, high-end bathroom amenities, and options for à la carte services, including housekeeping, airport transfers, breakfast or grocery basket delivery, a private chef for hire and more.
Within just four years of launching, Sweet Inn now operates in 10 major cities (London, Paris, Barcelona, Brussels, Rome, Lisbon, Tel Aviv, Milan, Madrid and Jerusalem), offering guests over 450 apartments, including 100 in Paris.