Impact of OTA on Hotel Business
The rise of OTAs has restructured the hotel industry and presented new opportunities and challenges for hotels. These platforms have provided increased visibility, ease of booking processes and data-driven pricing strategies. While OTAs have certainly brought many benefits to both travelers and hotels. In this blog post, we'll explore the impact of OTAs on the hotel industry and look at the opportunities and challenges they present. What is an online travel agency? An OTA (Online Travel Agency) is a medium that allows travelers to book flights, accommodations, cabs and other travel-related services online....
What is Hotel Rate Parity and the importance of it?
Hotel rate parity is important in the hospitality industry because it provides price transparency to consumers, and ensures customers get the same price for the same room across all channels. While this is great news for consumers as they are assured of the same rate no matter where they book, it is important for hotels to keep in mind that rate parity greatly impacts revenue and profitability. This is because the cost of acquisition divided by commission costs varies significantly depending on the distribution channel, which means that the net...