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Jordan Hollander
CEO @ HotelTechReport
Jordan is the co-founder of Hotel Tech Report, the hotel industry's app store where millions of professionals discover tech tools to transform their businesses. He was previously on the Global Partnerships team at Starwood Hotels & Resorts. Prior to his work with SPG, Jordan was Director of Business Development at MWT Hospitality and an equity analyst at Wells Capital Management. Jordan received his MBA from Northwestern’s Kellogg School of Management where he was a Zell Global Entrepreneurship Scholar and a Pritzker Group Venture Fellow.
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Choosing the right Event Management Software for your hotel depends on several variables some of which come down to personal preference but most of which come down to the characteristics of your property. Is your hotel a small property with limited budget? Or is your property a luxury resort with lots of outlets and high ADR? Below are HTR’s defined key personas based on common property characteristics that typically indicate similar product choices.
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Bookings calendar: The calendar organizes upcoming events (and all of their details) into an easy-to-read format, which contains information like the assigned sales manager, the space, the chosen menu, parking requirements, A/V needs, and more.
Client database: Like a digital Rolodex, a client database holds contact information like email address and phone number, company or organization, payment methods, and event history.
Banquet event orders: A good event management system lets you create BEOs with just a few clicks. Upload all of your menus and pricing once, and you can easily configure BEOs based on the guest count and menu selections for any given event.
Task management: Tasks and traces help you prevent details from falling through the cracks. These reminders can trigger according to a preset workflow (like a reminder to distribute BEOs 3 days before every event) or ad hoc (like a reminder to pick up the ice sculpture for a wedding reception).
Customer relationship management: Build and nurture relationships with current and potential clients with your event management system’s CRM module. You can build email campaigns that advertise special offers, share news and updates, or send holiday wishes so that your venue is always top of mind.
Payment processor: Seamlessly charge credit cards with an integrated payment processor.
Documents and contracts: Quickly create branded documents like menus and contracts with the ability to send contracts out for signature electronically.
Reporting: Gain a deeper understanding of your revenue performance with the event management system’s analytics module and automate tasks like compiling and sending reports.
Integrations: Connect your event management system to your hotel’s property management system, payment processor, or customer relationship management system for a seamless flow of data between departments.
Event management systems usually come with a monthly fee, and the fee varies based on the functionality you need and the scale of your business. Note that before you’re ready to commit, it’s a good idea to do a demo or sign up for a free trial so you are confident you’re choosing the right system. A basic event management system for a small venue can cost around $100 per month, and a more robust system that can support multiple users and several locations will cost a few hundred dollars per month. Enterprise-level systems often charge a setup or implementation fee, while basic systems do not. If the system has an integrated payment processor, you’ll also need to pay a payment processing fee, which is usually around 2% of funds processed.
The setup process for an event management system can be as quick as one day or, for more complex venues with a lot of history, it can take a couple of weeks. The biggest task in the implementation process is to input the details about your function rooms, menus, pricing, contracts, and other materials used in the sales process. If you’re migrating from an existing system, some event management systems offer support for data transfers (for a fee) which can greatly speed up the process. Otherwise, you’ll be building menus and uploading contracts manually. If you’ve been operating your venue for a while, you’ll also want to upload your client database so you retain access to contact information and history.
Once all of your data is in the system, you can train your staff and incorporate the event management system into your daily processes. One best practice before going fully live is to book a test event: go through all the steps, from sending a contract to printing the BEOs, to confirm that everything works the way you expect it to. The last thing you want is to use a real event as your guinea pig!
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