Do you have price parity issues with your hotel?
Do you have price parity issues with your hotel?
Did you set your hotel rates only to find it cheaper somewhere else? Are you spending a lot of time checking that Agoda or Expedia are displaying your correct rates?
Control Your Distribution with Rate Parity Software.
If you’re here, you’ll understand the importance of rate parity and the negative effect it can have on your hotel’s visibility, reputation and bookings. You need to be checking your rates across all your sales channels, but this is time consuming and impossible to do every day. As part of our revenue management service, we have tried many different rate parity checkers to help our clients get the control over their distribution.
The best price parity tool we found is called OTA Insight!
You want the best rate parity software which will help give you results in a clear and easy to understand way to help you fix any problems quickly. On top of this, we understand that cost is a big factor. This is why we recommend OTA Insight – it is a powerful tool which can help you to stay on top of your distribution and pricing while being cost-effective at the same time!
Don't over complicate things!
We tried many different solutions to effectively track our prices online and they all had one problem – they were over complicated.
All we needed was quick access to the data that we needed most – our prices on various dates on different websites.
So this is what we searched for. A simple yet effective rate parity software solution which saved us time and got us results.
Only the data you need!
Cost-Effective Price Parity Checker
We also found that many other rate shoppers were expensive. Sometimes costing more than your PMS, Channel Manager and booking engine combined!
In some cases, pricing models weren’t clear with monthly prices for this or a per room per OTA price for that. It was complicated, expensive and confusing.
So we decided to use OTA Insight because they make it as clear and simple as possible – a tool for everyone.
Take Back Control Today!
Take back control of your hotel’s rates and get daily updates for the information you need to ensure that you don’t have any rate parity issues which could cause you problems with your visibility. Get a free consultation, demo and 14-Trial by clicking the button below.
You need to be in control!
Why is Price Parity Important?
All hoteliers need to stand out online. Online travel agencies (OTAs) such as Booking.com and Expedia use complicated algorithms to rank hotels in their search results. One of the most important things they look at is that you are giving them the best rates possible.
OTAs will often give discounts and promotions to make your price lower than what you set. When the other OTAs find these prices, things can start to become a problem. You need a simple solution to help all hoteliers stay ahead of the curve.
Don’t let other sales channels steal your bookings and sell your rooms at a lower rate. Maintain your pricing strategy and reduce revenue loss.
If booking.com finds your price cheaper on Agoda, they’ll put you down lower in the search results. It will be more difficult for customers to find your hotel.
If you’re selling hotel rooms on your website and OTAs are undercutting your prices, you’ll get less direct bookings. Increase direct bookings with good price parity.
If you’re paying for Meta Search listings to get more direct bookings, you want to make sure other OTAs are not undercutting your rates and selling your hotel for cheaper.
Let someone else do the hard work!
There are many tools on the market to check your prices, you can even do it yourself. Just search for you hotel, click a few days, note the price and repeat this on all OTAs.
If you find prices cheaper than what you set, then you need to fix it.
You’ll need to note the date, take a screenshot and speak to your market manager.
This can be time consuming. Let OTA Insight do the hard work for you, so you can get back to running your hotel.
Don’t spend your time checking your prices on every other website, use software to do the hard work for you.
You’ll even get live links to the prices found where you can be easily take screenshots as evidence for discussions with your market manager.
You will find price parity issues and be able to fix them before it becomes a bigger problem. Once the OTAs start finding cheaper prices elsewhere, your visibility will go down quicker than the Titanic.
If you find a cheaper rate on Agoda, they’ll ask for lots of details to investigate before they’ll even look at your issue. Get everything you need so your market manager will investigate accordingly.
When you have good price parity scores on all your sales channels, you’ll have increased rankings in the OTAs search results.
All OTAs give preference to hotels which offer them the best rates. If they find cheaper rates elsewhere, they’ll favour other hotels.
Imagine you sell your rooms to a local travel agent and give them a preferred price. This agent then decides to sell your rooms on Agoda at a much lower price than what you’re selling them for.
Which price do you think the customer will book. Your price or the much cheaper price you agreed with your B2B partners?
Instantly find out when people are undercutting your advertised rates and stop it immediately.
Visualised Data Platform
As you can see, all your data is clearly displayed in a table. You can filter the prices on the number of nights, guests, room types and meals. You can also even see 3rd party rates displayed on OTAs.
On top of this, you can export your data into an excel document. You can also get the lowest rates found on metasearch results. You have everything you need to make actionable decisions and increase the visibility of your hotel.
Easy to Use
Many platforms give you too much information, it’s difficult to know what you need to look at and what data you need to fix problems. Using OTA Insights, we are quickly able to identify pricing problems and fix them before they became a bigger problem.
With all our revenue management services, we use this tool to be more efficient, save time and provide real value to our clients. We understand that many hotels might want to do their own revenue management, so we suggest that you use this tool to make the decisions for you.
But that's not all!
OTA Insight doesn’t just help you with your rate parity, it’s also a complete rate shopper with competitor prices where you can track your competitors price daily and compare them with your own rates.
This helps you to have a competitive edge, manage your average daily rates and make the best of your pricing strategy.
Make smarter rate decisions with real-time data from your local market.
Use predictive market demand to understand the future opportunities in your area.
Understand how competitor rates evolve with the lead time over 3 months.
Focus on the main channels, but don’t ignore the other channels. It’s important that rates are checked across Booking.com, Agoda and Expedia as these are the main OTAs.
However, rate parity can be affected by other websites such as hotels.com, Orbitz, Trip.com, Hostelworld and others because these are displayed on the meta search results. So, you will also get data for all meta search prices to see where problems are coming from.
Take Back Control Today!
Take back control of your hotel’s rates and get daily updates for the information you need to ensure that you don’t have any rate parity issues which could cause you problems with your visibility. Get a free consultation, demo and 14-Trial by clicking the button below.
Of course you have some questions – it’s completely understandable. We’re always here and ready to answer anything you want to know! In the meantime, here are some answers to some of the most common questions we’re asked.
Rate parity is important for a number of reasons and you want to make sure that you have good rate parity across all your sales channels. If you don’t, you are losing visibility and bookings, affecting your reputation and ultimately, losing money.
Read more about it here in our Hotel Rate Parity Issues blog post.
OTA stands for Online Travel Agency. In the hotel industry, it’s a company that deals with online booking and distribution of accommodations. Examples include sites such as Booking.com, Agoda, Expedia, Travelocity, Orbitz, and CheapTickets.
In recent years there has been a lot of discussion about the impact OTA’s are having on the hotel industry. Some hotels benefit from their presence (and pay them for listing) while others have tried to avoid them.
Hotels are penalized by the practice of rate disparity when they offer a lower rate to one company over another, violating industry agreements.
OTA Insight can help hotels enforce their rates across many channels, ensuring that no tradeoffs are made between customer service, fair prices and loss of income.
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Have you seen our Rate Parity Checker?
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