Today, most next-generation property management systems favor a software as a service (SaaS) model sustained by web and cloud technologies.
[2] In hotels, a property management system, also known as a PMS, is a comprehensive software application used to cover objectives like coordinating the operational functions of the front office, sales and planning, reporting etc.
[4] With the advancement of cloud computing property management systems for hotels expand their functionality towards new service areas like guest-facing features.
These include online check-in, room service, in-room controls, guest-staff communication, virtual concierge and more.
A good PMS should give accurate and timely information on the basic key performance indicators of a hotel business such as average daily rate, RevPAR or occupancy rate and help the food and beverage management control the stocks in the store room and help deciding what to buy, how much and how often.
Property is defined as the equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain end item deliverables.