Learn from the findings from the first-ever Hotel Parity Report.
HSMAI´s close partner OTA Insight, the cloud-based data intelligence platform for the hospitality industry, this week announced the launch of its latest development, Parity Insight. As the latest addition to its suite of revenue intelligence solutions, Parity Insight helps keep control of distribution costs so that revenue managers feel more empowered to make smarter revenue and distribution decisions.
Parity Insight’s user-friendly dashboard helps hoteliers better control distribution and helps to manage their reliance on OTA business. The business intelligence solution tracks where hoteliers are losing valuable revenue and finds all discrepancies between their brand and third-party channels. Through Parity Insight, revenue managers are able to view historical parity issues to monitor the evolution of their performance, track future parity issues up to 12 months in advance, as well as monitor real-time updates on how rates are appearing on OTA and metasearch websites.
In conjunction with the launch of Parity Insight, OTA Insight released its key findings from its first Hotel Parity Report. This new report provides a deep-dive into market trends affecting rate parity for hotels and highlights:
- North American parity performance trends
- Parity performance of Major Chains versus Independents and Local Chains
- Rate variance breakdown
- Parity performance by channel
Findings from Hotel Parity Report:
Results from OTA Insight’s first Hotel Parity Report have found that in North America, 48% of the time, OTA rates were more competitive than an Independent or Local Chain hotel’s website rate, which is in contrast to Major Chain Hotels where this occurs 24% of the time. The report also reveals the Leading Channels where these parity issues occur, with SnapTravel topping the list for Independent Hotels and Local Chains as well as across Major Chain Hotels.
To download the report visit www.otainsight.com/hotel-parity-report
According to Gino Engels, Co-founder and CCO of OTA Insight, “The goal of our integrated and intuitive solutions is to provide revenue managers with the tools to create prosperous revenue strategies. Through our Hotel Rate Parity Report and Parity Insight tool, we are uncovering where and why parity issues arise while simultaneously supplying a solution that helps revenue managers control overall parity performance.»
OTA Insight will be speaking about Parity Insight at the HSMAI Europe events later this year including:
- The HSMAI Day London, September 14
- The HSMAI Day Oslo, September 24
- The HSMAI Day Amsterdam, October 4
- The HSMAI Day Stockholm, October 11
- The HSMAI Day Berlin, October 16
- The HSMAI Day Madrid, October 23