Distribution Strategy Studio is the first of a series of events organized by RateGain during 2018, exploring news and trends in travel distribution and revenue management. The first leg of this exciting itinerant journey (which will include cities and Countries all over the globe as Dubai, Milan, Colombia, Delhi, Mexico, Berlin and many more), will be in Madrid on the 16th of January.
Must Read Tips to Manage Rate Parity: While rate parity ensures that you have complete control of setting the bar for your room rates and ensure equal prices across all distribution channels, it destroys your chances to compete freely in the market and also makes you lose a voluminous amount of potential revenue as massive commissions to the OTAs.
3 cities had less than 10% of hotels in parity out of 4 cities surveyed
2 cities had less than 10% of hotels in Parity out of 5 cities surveyed
All 3 cities had less than 10% of hotels in Parity out of 3 cities surveyed
Reputation Management touches the hotel property as a whole and needs to be the responsibility of every department. ORM should go hand in hand with Revenue Management. Your hotel reputation should also guide you to use reviews to influence your decision-making process and effect change where required.
3 – Star Hotels: All 12 cities had less than 10% of hotels in parity out of 12 cities surveyed
4 – Star Hotels: 8 cities had less than 10% of hotels in Parity out of 12 cities surveyed
5 – Star Hotels: 7 cities had less than 10% of hotels in Parity out of a total of 10 cities surveyed
Hotels need to drive rate parity towards value differentiation than just price. With this article, we want to emphasize on the progress towards the Best Value Guarantee instead of Best Price Guarantee. Yet, a little attention on the key troublemakers can go a long way in warranting that, your hotel always stays ahead of the competition. Invest in a good Rate Parity Tool Now!
3 – Star Hotels: 2 cities had less than 10% of hotels in parity out of 11 cities surveyed
4 – Star Hotels: 4 cities had less than 10% of hotels in Parity out of 12 cities surveyed
5 – Star Hotels: 5 cities had less than 10% of hotels in Parity out of 12 cities surveyed
Building the Perfect Revenue Strategy Is Not Enough; Advanced Hotel Revenue Management Tool is a Must!
An efficient and cutting-edge Hotel Revenue Management Solution not only increases the revenue and profitability, but also ups efficiency of sales and marketing efforts. This directly leads to improvement of market insight, guest demography & current trends in the occupancy of hotel inventory.
Geo-location prices of different hotels are being taken into account by industry players both hotels and OTAs as it gives them a sense of how competition is pricing their property in different regions and then, accordingly set (or change) their own prices.
Pricing has always been an important aspect of any business as it plays a quintessential role in the effective running of all industries worldwide. Hotel price management, i.e., how the goods and services of any business are priced and tagged in the extremely competitive market scenario goes a long way in determining the firm’s profitability…