As astonishing as it sounds, a few short months from now will mark two full years since the first known case of Covid19 was identified. Early on while the world was still bickering over its origin, transmissibility, and mortality rate, SARS-CoV-2 put its blinders on, replicated itself billions of times, and rather quickly encircled the globe, infecting anyone unlucky enough to find themselves in its path. Covid19 left unimaginable devastation in its vast wake, but it infected more than just humans; the virus also destroyed or severely crippled untold numbers of businesses as well. True extended stay hotels were no exception; many guests found themselves out of work and unable to pay for their stays, causing a dramatic reduction in revenue, forcing properties to severely cut back their offerings or struggle financially. But many extended stays saw a shiny silver lining throughout it all.
Like fearless investors buying massive dips in the stock market, savvy companies like Gearco are filling vacuums left behind from the fallout, and in the process are forever changing the business landscape. Ironically, for the extended stays that use Gearco’s Cloud Property Management Platform, some aspects are better than they ever were prior to Covid. But how? Especially after so much revenue was lost from the pandemic?
First, Gearco’s Guest Portal was introduced as an easy to use, online, digital interface through which guests may review balances, view folio history, make payments, receive digital receipts, and request maintenance—all in real time without ever having to leave their rooms. For Gearco properties, this one innovation solved multiple problems: not only did it instantly reduce human traffic at the front desk, but it also helped slow the spread of the virus as a result of fewer human interactions. But an added benefit was also found: drastic reductions in late payments, traditionally caused by long lines in the front office. Since guests could pay from anywhere at any time, suddenly there were far fewer delayed payments.
Second, Gearco’s distinguished revenue generator service called RateLock offsets revenue loss using A.I. technology. Once turned on, RateLock provides a steady stream of additional income that is generated purely based on length of stays. No other extended stay platform offers such an advantage, and many of Gearco’s customers are taking advantage of collecting massive increases in revenue while their competitors struggle to stay in business.
Finally, addressing guest safety and property control, Gearco’s Cloud Ops Security Patrol App offers real time guest validation by providing hyper-focused guest insights to Security Teams. Security Patrol shows photo IDs of all registered guests, including secondary, along with unit information, stay dates, and status indicators such as “in house” or “checked out”. Vehicle ownership can be verified when searched using the app as well. Guests want to feel safe during a pandemic fallout.
As destructive as the pandemic has been, Gearco’s solutions have provided true extended stays the opportunity to improve many aspects of their businesses—improvements that are likely to remain in place forever.