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Oracle (ORCL) Cloud to Enhance Pro-invest Group's Operations
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Oracle (ORCL - Free Report) announced that its OPERA Cloud Property Management System (PMS) has been chosen by Pro-invest Group to streamline its operations across various properties.
Pro-invest Group needed to consolidate different PMS systems into one to manage data and operations more efficiently. The investment firm has selected OPERA Cloud PMS to handle different types of hotels, from small independent ones to large global brands.
Pro-invest Group has chosen Oracle’s solution for its security and the ability to scale globally. It also valued the solution’s compatibility with its central architecture. OPERA Cloud PMS aligns with Pro-invest Group's goal of providing a seamless and integrated guest experience through cloud technology. Additionally, the extensive library of integrations available through the Oracle Hospitality Integration Platform supported the investment firm’s vision.
After a successful trial at The Sebel Canberra Campbell, Pro-invest Group has expanded the use of Oracle’s OPERA Cloud PMS to three more locations — Sage James Street, Sage Wollongong and Country Comfort Perth.
The investment firm aims to transition the majority of hotels it manages, including those under Pro-invest Group and their joint venture Vista Hospitality Group, to OPERA Cloud by mid-2025. This is expected to aid cloud services and license revenues in the upcoming quarters.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $43.87 billion, indicating year-over-year growth of 24.3%. The Zacks Consensus Estimate for earnings is pegged at $5.58 per share, indicating year-over-year growth of 8.98%.
PMS solutions have transitioned from manual to automated systems nowadays. Automated PMS solutions streamline various processes, such as responding to tenant complaints and managing finances, contracts and documents.
According to a report by Grand View Research, the global property management software market was valued at $4.47 billion in 2022 and is projected to grow at a rate of 8.1% annually from 2023 to 2030. This growth is driven by the increasing demand for web-based services like software as a service (SaaS) in the property management sector. SaaS-enabled PMS platforms allow for the management of day-to-day operations, such as building maintenance, accounting and tenant tracking, from a centralized platform.
The adoption of cloud computing services in the hospitality industry benefits both service providers as well as customers. This strategy improves the quality of services provided while remaining cost-effective. It lowers expenses, introduces scalability and automation to business operations and ensures a smooth customer experience.
SAP Hospitality Management effectively oversees hotels, consistently surpassing competitors. Operating both full-service and focus-service hotels in the Midwest United States, SAP increases hotel revenues through a strong sales and marketing approach.
Amazon Web Services’ Travel and Hospitality Competency provides various technology solutions and services to accelerate the industry's progress and development. These cover a wide range, including customer and operational data insights, digital customer interactions, interconnected experiences with smart devices and the modernization of essential travel and hospitality applications.
Alphabet-owned Google has partnered with hotel chains to introduce Nest Hub smart displays and Google Assistant into hotel rooms. This voice assistant retrieves information from the hotel's database to answer questions about available services, promotions, or special offers.
Oracle Hospitality offers a comprehensive suite of technology solutions tailored for various types of hotels, chains, gaming establishments and cruise lines. The company’s hardware, software and services enable customers to make informed decisions using data, provide personalized experiences for guests, optimize profitability and build loyalty.
ORCL's offerings, including OPERA Cloud PMS for property management and distribution, Simphony for point-of-sale and Nor1 for upselling, are cloud-based and accessible via mobile devices with open APIs. These solutions aim to drive innovation, increase revenues, lower IT costs and improve operational efficiency.
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Oracle (ORCL) Cloud to Enhance Pro-invest Group's Operations
Oracle (ORCL - Free Report) announced that its OPERA Cloud Property Management System (PMS) has been chosen by Pro-invest Group to streamline its operations across various properties.
Pro-invest Group needed to consolidate different PMS systems into one to manage data and operations more efficiently. The investment firm has selected OPERA Cloud PMS to handle different types of hotels, from small independent ones to large global brands.
Pro-invest Group has chosen Oracle’s solution for its security and the ability to scale globally. It also valued the solution’s compatibility with its central architecture. OPERA Cloud PMS aligns with Pro-invest Group's goal of providing a seamless and integrated guest experience through cloud technology. Additionally, the extensive library of integrations available through the Oracle Hospitality Integration Platform supported the investment firm’s vision.
After a successful trial at The Sebel Canberra Campbell, Pro-invest Group has expanded the use of Oracle’s OPERA Cloud PMS to three more locations — Sage James Street, Sage Wollongong and Country Comfort Perth.
The investment firm aims to transition the majority of hotels it manages, including those under Pro-invest Group and their joint venture Vista Hospitality Group, to OPERA Cloud by mid-2025. This is expected to aid cloud services and license revenues in the upcoming quarters.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $43.87 billion, indicating year-over-year growth of 24.3%. The Zacks Consensus Estimate for earnings is pegged at $5.58 per share, indicating year-over-year growth of 8.98%.
Shares of this Zacks Rank #3 (Hold) company have gained 16.9% year to date compared with the Zacks Computer and Technology sector’s growth of 11.4%. This outperformance was due to ORCL’s alignment in understanding customer needs. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
ORCL Faces Tough Competition in the PMS Market
PMS solutions have transitioned from manual to automated systems nowadays. Automated PMS solutions streamline various processes, such as responding to tenant complaints and managing finances, contracts and documents.
According to a report by Grand View Research, the global property management software market was valued at $4.47 billion in 2022 and is projected to grow at a rate of 8.1% annually from 2023 to 2030. This growth is driven by the increasing demand for web-based services like software as a service (SaaS) in the property management sector. SaaS-enabled PMS platforms allow for the management of day-to-day operations, such as building maintenance, accounting and tenant tracking, from a centralized platform.
The adoption of cloud computing services in the hospitality industry benefits both service providers as well as customers. This strategy improves the quality of services provided while remaining cost-effective. It lowers expenses, introduces scalability and automation to business operations and ensures a smooth customer experience.
Oracle faces tough competition in the PMS market from players like SAP (SAP - Free Report) , Amazon (AMZN - Free Report) and Alphabet (GOOGL - Free Report) .
SAP Hospitality Management effectively oversees hotels, consistently surpassing competitors. Operating both full-service and focus-service hotels in the Midwest United States, SAP increases hotel revenues through a strong sales and marketing approach.
Amazon Web Services’ Travel and Hospitality Competency provides various technology solutions and services to accelerate the industry's progress and development. These cover a wide range, including customer and operational data insights, digital customer interactions, interconnected experiences with smart devices and the modernization of essential travel and hospitality applications.
Alphabet-owned Google has partnered with hotel chains to introduce Nest Hub smart displays and Google Assistant into hotel rooms. This voice assistant retrieves information from the hotel's database to answer questions about available services, promotions, or special offers.
Oracle Hospitality offers a comprehensive suite of technology solutions tailored for various types of hotels, chains, gaming establishments and cruise lines. The company’s hardware, software and services enable customers to make informed decisions using data, provide personalized experiences for guests, optimize profitability and build loyalty.
ORCL's offerings, including OPERA Cloud PMS for property management and distribution, Simphony for point-of-sale and Nor1 for upselling, are cloud-based and accessible via mobile devices with open APIs. These solutions aim to drive innovation, increase revenues, lower IT costs and improve operational efficiency.