A new technology acronym has emerged in hospitality - PXMS. Not to be confused with the hotel PMS (property-management system), PXMS focuses solely on the guest experience (X) beyond the guestroom. A property experience management system is a full-cycle solution platform that enables resort leaders to sell their experience-based inventory with as much flexibility as their rooms.
What are your predictions around industry adoption and usage for the PXMS?
Prediction 1: Integrated, Luxury and All-Inclusive Resorts Will Be Early Adopters
I believe the early adopters of this new technology category will be integrated, luxury and all-inclusive resorts. These resorts tend to be hyper focused on the guest experience, have the most non-room inventory, and clientele willing to pay for elevated experiences. These resorts will be most attracted to the unified booking cart and itinerary management capabilities, as well as the ability to sell third-party experiences, which can drive significant incremental revenue.
Prediction 2: Leveraging Third-Party Marketplaces for Property Experiences
As this technology category matures, I see hospitality organizations leveraging PXMS capabilities to connect their NRI to third-party marketplaces in ways they can’t do today. While marketplaces for experiences exist, very few are connected to the property’s inventory or operational system and very few are able to package a room with an experience in a connected way.
Prediction 3: Revenue Management Advancements
We haven’t talked about this yet, but it’s an important topic. The PXMS will turn the revenue management (RM) world upside down — but in a good way. By layering in NRI into our distribution and RM models, the hospitality industry can start rethinking profitability through revenue diversification. In addition, with the PXMS, we’ll have more concrete insights into guest value and willingness to spend beyond the room, enabling more personalized offers and dynamic packages.
Prediction 4: Big Brand Adoption of the PXMS
They say go big or go home. So, I’m going to go BIG on my last prediction. When I look at all the top global hotel brands and their ever-expanding portfolios, I ask myself what is the big differentiator between them? They all have amazing brands, great properties, exceptional service standards, and off-the-charts loyalty programs. But, if I were a hotel owner looking to become a franchisee, I would want a hotel brand that could sell all my inventory, not just my rooms, through its central reservation system (CRS). I would want their CRS to connect to my PXMS, like they connect to my PMS. No big brands are doing this yet, but the technology is there to start this exploration. I’m really interested to see which big brand claims this competitive advantage first.