Mews Introduces Innovative Features to Boost Hotel Revenue Throughout Guest Experience

Mews Enhances Hotel Revenue Opportunities with New Features

In a significant move to empower hotels to maximize their revenue potential, Mews, the esteemed hospitality operating system serving over 15,000 properties worldwide, has introduced three groundbreaking features. These enhancements—Recurring Payments, expanded Multicurrency capabilities to the US and Canada, and Accounts Receivable features—aim to secure revenue efficiently at every stage of the guest journey.

Recurring Payments: Streamlining Revenue Collection

The first of these new features is Recurring Payments, tailored for hotels offering extended stays, co-working services, or membership programs. This tool mitigates the risk of delayed or missed payments, a common issue in such arrangements. With Recurring Payments, hotels can set up a payment schedule just once, and Mews automates the collection process, ensuring timely payments without requiring manual oversight.

Tom Nijst, Order to Cash Manager at The Student Hotel, remarked on the feature's effectiveness, stating, "Recurring Payments means less admin, fewer errors, and a better experience for everyone. No interruptions, no delays – just a simple way to keep the subscription rolling." After implementing this feature, The Student Hotel reported a time savings of approximately four hours weekly, coupled with a stunning 98% on-time payment collection rate.

Multicurrency: Turning International Transactions into Extra Revenue

The second feature, Multicurrency, enables hotels to retain a portion of the currency conversion fees typically charged to banks during international payments. This revolutionary feature not only enhances the guest experience by allowing payments in their native currency but also creates a new revenue stream. Since its rollout in Europe, nearly 5,000 hotels have collectively accrued €1.55 million through this feature alone.

For properties that have utilized the Multicurrency option for at least three months, more than half have realized enough additional revenue to offset their Mews subscription costs, with reductions ranging from 2% to 10%. For hotels dealing with significant volumes of cross-border transactions, the benefits can be even more pronounced, with some covering their subscription entirely through Multicurrency revenue. This feature is currently being expanded into the US and Canada, with online payment capabilities available now and in-person options on the horizon.

Accounts Receivable: Accelerating Invoice Processing

The third new feature, Accounts Receivable, addresses the inefficiencies often associated with invoicing post-checkout. Mews discovered from internal data that the average gap between guest checkout and invoice issuance can stretch from seven to eight days, delaying payment collection. The Accounts Receivable tool automates invoice creation, reminders, collection workflows, and reconciliations within the system, drastically improving financial visibility and cash flow.

Luca Flamini, Planning and Controlling Sr. Manager at CX Living, shared insights into the transformative effect of Accounts Receivable, stating, "Each month, we were spending around seven full working days issuing invoices and chasing payments, with every invoice handled manually. Now that is fully automated, and we have visibility on our cash flow."

Conclusion: A Comprehensive Solution for Hoteliers

As hotels worldwide continue to navigate the complexities of their financial operations, Mews remains committed to providing solutions that not only streamline processes but also drive revenue growth. According to Susanne Sandler, General Manager of Fintech at Mews, "Mews has always been built around the goal of giving hoteliers the best possible platform to run and grow their business. Recurring Payments, Multicurrency, and Accounts Receivable exemplify this mission by helping hotels increase revenue and accelerate cash flow collection."

For hoteliers seeking to leverage the new features to their advantage, more information and resources can be found on the Mews blog. Mews continues to redefine the hospitality landscape, unifying workflows across revenue, operations, and the guest journey, thus allowing hotels to focus on creating memorable experiences for their guests.

Mews stands out as an innovative operating system in the hospitality realm, highlighted by its diverse functionalities ranging from property management systems (PMS) to point of sale (POS) systems. Recognized for excellence, Mews has received accolades including Best PMS and Best POS, proving its commitment to revolutionizing hotel management.