SYNOPSIS

CRM/CRS IN HOTEL
SUBMITTED BY : SMITA JOSHI UNDER THE GUIDANCE OF MISS REENA SONI
Introduction : What is CRM? CRM is an enterprise wide business strategy designed to learn about customers needs and behaviors to organize and manage Customer relationships to maximize profitability and minimize expenses. A well planned CRM can be viewed as a strategic process merging strategy and system to amalgamate information from across the company (sales, marketing, finance, accounting, etc.) to offer a complete view of the customer and develop stronger relationships with them. Information gained from all internal and in some cases, external, sources allows the company to complete a full 360 degree view of their customer in real time. CRM allows customer facing representatives of the company to have all the information they require to ensure the best customer experience in interactions with your company and opportunities to increase revenues through increased cross and up selling opportunities to competitive positioning tactics. CRM helps the marketing departments identify and target their best customers and best prospects by sharing information throughout the system with all branches of the organization. Marketing can use CRM to manage campaigns with clear objectives and

goals for sales lead generation. Through sharing information across departments, the organization can improve all aspects of sales and marketing by optimizing shared information amongst employees and streamlining processes. The end benefit is a closer, individualized, relationship with customers: improving customer satisfaction and profitability. By offering your most profitable customers the highest levels of service, CRM helps maximize profitability. Additionally, CRM provides employees with the information and processes they require to know their customers and understand their needs to build a relationship between the company, its front line people and their customers and partners. CRM/CRS IN HOTEL INDUSTRY A Central Reservation System is a tool to reach the Global Distribution Systems as well as Internet Distribution Systems from one single system, namely a central reservation system. A CRS is mainly an assistance for hoteliers to manage all of their online marketing and sales, where they can upload their rates & availabilities to be seen by all sales channels that are using a CRS. Sales Channels may include conventional travel agencies as well as online travel agencies. A hotelier using a central reservation system easens his/her tasks for online distribution, because a CRS does everything to distribute hotel information to the sales channels instead of the hotelier. Below is the list of main modules that are present in a CRM/CRS: Reservations, Profiles, Groups and Blocks, Rate and Inventory Control, Administration, Reporting, Global Distribution Interface, PMS Interface. Information commonly stored in a CRM/CRS : Room Types, Rate plans architecture, Room Rates & conditions (guarantee, deposit, customized cancellation rules, Minimum Length Of Stay, Maximum Length Of Stay, Closed to Arrival, Arrival not allowed, departure not allowed.

Reservations : Individual, group, shared, and multi-rate reservations, Add, change, and cancel bookings including multiple legs, Standard, package, negotiated, and group rates (via on screen button) Multi-Currency rate displays, Sell messages dynamically linked to CRO office, property, rate or allotment code, Geographical and regional single or multi-property search, Property details including pictures, raster maps, rate and room type lists, nearby attractions, and point of interest information, Links to external context databases to provide in-depth property, rate, and room details, List of room types and rate codes, List of rate availability strategies and restrictions, User definable products by rate code, Waitlist capabilities, Quote rates system set up initial and secondary rates per property, per day, Query system for reservation action items. Advantages of CRM : Flexibility Central reservation systems can be accessed by individual consumers, travel agencies and call center staff. Travel agencies can be assigned personal log-on codes, which automatically generate any special negotiated rates or commission. Information can easily be updated, and the CRS can be tailored to suit the individual accommodation provider's requirements. Cost-cutting A central reservation system reduces staff wages, since bookings are processed automatically online, rather than the company having to employ people to take bookings over the telephone or by mail. Increased Efficiency A central reservation system includes tools that enable the accommodation provider to monitor activity on his website. Real-time reporting shows the number of hits, and how many were converted to actual bookings.

Customer Benefits Central reservation systems offer an effective and time-saving search tool for the customer, who can refine a search for accommodation by issues such as date, location, hotel rating and features. DISADVANTAGES OF CRM/CRS : Software used for CRM are very Expensive, their maintenance is also very expensive. During night audit the terminals are shut down, thus many operations during this period can not be done through computer.

AIMS AND OBJECTIVES To study the concept of CRM. To find out and advantages of CRM in hotel industry. To find out and disadvantages of CRM in hotel industry. To find out the softwares used for CRM in Hotel Industry. To study the functions of CRM sofwares.