Is your hotel using an efficient room rate comparison tool?

Download our complimentary e-book  on how to leverage pricing for profit optimization

Hotel revenue management relies heavily on accurate market intelligence. Being aware of competitor price movements and change in their distribution strategy is important for any hotelier to stay ahead of competition of multiple sales channels.

Given the perishable nature of hotel inventory, it is important to optimize room pricing such that it is in sync with market demand and is attractive enough for potential guests to make a booking. Hotels today offer multiple room rates for different room types – so tracking these different room-rate combinations across your competition manually can be a herculean task and hence arises the need for an efficient and automated rate shopping tool that can fetch you rates in real-time for apple-to-apple comparison.

With the current range of price intelligence solutions available in the market, hoteliers are spoilt for choice. To assist with your decision making easier – we present our complimentary e-book – ‘Shopping Matters – The Power of Real-time Hotel Rate Intelligence’ that will help you to know more about –

  • Importance of real-time rate intelligence
  • Understanding the marketplace to fine-tune your rate strategy
  • Why rate shopping tool is crucial to your profit optimization

Download the ebook today – https://www.erevmax.com/travel-solutions/erevmax-shopper-rateintelligence.html

2019: Time to relook at your Hotel Cancellation Policies

With ‘Free Cancellation’ almost becoming a norm with major OTAs, high cancellation rate has become a source of major concern for hotels. Cancellation is not at all welcoming for the host, and sometimes for guests as well.

For a long time, hotel industry has been fairly flexible with the cancellation policies. However, with the popularity of meta-search sites, even after booking, consumers now keep track of room rates. Whenever there is a drop in the room rates of the booked hotel or it’s competing properties, guests often cancel their existing reservations and rebook.

This high cancellation rate especially closer to the arrival has a major impact on the hotel’s revenue management decision where often inflated estimation of potential occupancy level leads to sub-optimal rates and lost revenue.

In the last few years, major hotel chains have been relooking at their cancellation policies and developing a strategy to address the changed consumer behaviour. While some hotels have followed the airline way, and introduced non-refundable early-bird rates, some have extended the cancellation cut-off. Empowered with comprehensive reservation data sources, including cancellation information, and analytics, hotels are now making thorough assessment of cancellation cost to hotel’s revenue and fine-tuning their cancellation policies in a strategic way. If you are planning to re-work your cancellation policy, here are some tips you can consider.

Limiting the Cancellation Period

Free cancellation is a major draw, especially on OTAs, to attract potential guests. However leading hotel groups are now extending the cancelling notice period from existing 24 hours cut off to 72 hours. Guests who cancel after that are charged with a penalty which varies from the cost of one night’s stay to total booking amount.

Variable Policy

Many hotels are now adapting to a dual strategy where there is a non-refundable rate and relaxed cancellation policy for premium rates.

Partial Payment for Guarantee

High-demand hotels often charge one night’s stay immediately after booking and debit the rest of the amount closer to the arrival while enforcing a strict no-show / cancellation penalty. While booking, guests are made aware of these finer points and as a result think twice before going for cancellation.

Vouchers instead of refund

Boutique hotels and resorts are now adjusting their cancellation policy in a way where for a last-minute cancellation, instead of a penalty, or refund, they are offering a voucher which the guests can use for a future booking within a stipulated period of time.  It’s often a win-win situation where the hotel gets the revenue and the guests the option to modify their plans.

Loyalty member specific cancellation policy

Some hotel groups with their own loyalty programmes have designed member-exclusive cancellation policies where loyal guests are given the flexibility to cancel their stay at the last minute even as other guests have shorter window. This benefit additionally gives hotels another opportunity to improve their loyalty programme which eventually results in more direct bookings.

No Cancellation

While some hotels do have this policy, in the age of online booking and price-comparison sites, this policy is tending to lose its acceptance.

The choice of cancellation policy depends on the dynamics of the market, hotel size and categories. For a business hotel, it’s is very difficult to implement a strict cancellation policy, whereas high-demand leisure resorts can afford to do so.

For years the hotel industry has been relying on a cookie-cutter approach when it comes to their cancellation policy. It’s time for change. Monitor your reservation sources and identify channels where the cancellations are coming from. Based on their data, hotels need to create cancellation policy terms for each rate-category, plan and channel. An advanced system like RateTiger, for instance, allows restrictions and cancellation policies to be assigned and updated for different rate plans on OTAs. The reservation delivery options immediately notify hotels whenever there is a cancellation, making it easier for them to allocate inventories accordingly.

Invest in a system which helps you to optimally manage your revenue and distribution efforts and save time to focus more on strategy.

How Metasearch is relevant

 

Metasearch helps travelers compare hotel rates from various online travel agencies and other booking sites in one place. In metasearch sites, hotels and online travel channels publish their rates and availabilities.

Travelers today are more information savvy than ever and researches their travel meticulously. Their planning, especially for hotel booking, begins at OTAs and metasearch.  Spending a few minutes updating profile on Meta sites can increase bookings and can generate more revenue for hoteliers.

 Meta Search Allows for Direct Bookings

Two of the largest OTAs, Booking.com and Expedia’s online advertisement spent more than that of all hotel brands combined. While traditionally, hotels spend around 8% of their budget on marketing, for OTAs, it is over 50%. Getting attention of travelers on the complex world of online, where PPC rules, has become increasingly challenging for hoteliers. It is here, metasearch comes into play.

Metasearch sites allow for visitors to book either through OTAs or through the brand website. Working on the CPC model, the rates are displayed with emphasis given to highest bidders. Hotels pay when someone clicks on the link. Metaseach sites like TripAdvisor and Google also, in addition, offer the CPA model where hotels pay the channels a commission whenever a traveler books from their brand website.

Metasearch is still holding strong

In recent time, Booking.Com and Expedia has substantially cut down their metasearch ad spent. While this move led to some debates over the viability of metasearch, in my opinion, this gives hotels a unique advantage to drive more direct bookings. MReports show that meta search statistics are up by 13 percent in recent years and are continuing to grow.

In utilizing meta search channels, hotels can remain modern and relevant, and can widen and diversify their audience.

Comparison Features can be Beneficial

A popular feature of meta search channels is the availability to compare select hotels against each other – something that OTAs typically does not offer.

Believe it or not, comparison isn’t solely based upon price. For example, it has been found that an estimated 71 percent of users look to basic information, while 67 percent of users compare photographs. Comparison may seem daunting, but it’s actually a good chance to show off.

Upgrading to two-way connectivity can help you improve your channel content, by making it quicker and easier to update multiple channels with up-to-date information regarding the establishment.

With meta search considered to be one of the biggest marketing techniques of the year, there has never been a better time to add these channels to your distribution portfolio. Make sure you choose to work with digital marketing specialists with relevant channel connections to get it right the first time.

Connect to metasearch channels like Google, TripAdvisor, Trivago, HotelsCombined, Skyscanner & Escapio. Manage them via RateTiger. Improve your direct hotelrevenue!

Book a demo today – https://goo.gl/3gKUJZ

 

 

 

 

The Week, That Was – September 2018 Week 2

In five minutes or less, keep track of the most important news of the week, curated just for you. We present to you hand – picked news on latest industry perspectives and some general updates. Read on!!

Philippine hotel chain solves distribution challenge with RateTiger and LiveOS

Philippine hotel chain the Bellevue Hotels & Resorts has recommended RateTiger for centralizing online distribution. All four properties of the group have begun using RateTiger on LiveOS platform earlier this year and certifies it to be ‘the best friend’ for hotels.

https://bit.ly/2MqPyhi

Key challenges for today’s travel marketers

The marketing magic happens when you can turn a challenge into an opportunity. Stephen Taylor, Sojern’s SVP, shares how travel marketers today can do just that.

https://www.sojern.com/blog/challenges-for-todays-travel-marketers/

The impact of influencer marketing on the booking journey

Up until the digital revolution, traditional marketing and word-of-mouth were the only real ways to grow consumer awareness at a notable scale.

Digital word-of-mouth reaches millions more potential customers around the world more rapidly than ever before. This is where influencer marketing fits in.

https://www.phocuswire.com/influencer-marketing-booking-journey

TripAdvisor heralds landmark moment as fake reviews business is busted

TripAdvisor says that its investigators were tipped off by an Italian hospitality business which had received email promotions from a business called PromoSalento to boost its profile in exchange for a fee. Investigators then identified the people behind the fraudulent review service and confirmed that they had not only advertised fake reviews as a service but also tried to post fake reviews on the TripAdvisor site.

https://www.tnooz.com/article/tripadvisor-fake-reviews-jail/

How hoteliers navigate evolving distribution channels

As hoteliers navigate the different distribution channels available to them, their goal is to guide guests to the one that costs their companies the least.

During the “Distribution: A hotelier’s guide to channel surfing” session at t last month’s Hotel Data Conference, panelists explained their approaches to managing and lowering the cost of customer acquisition.

http://www.hotelnewsnow.com/Articles/290368/How-hoteliers-navigate-evolving-distribution-channels

Generating group business with hotel data is easier than you think

A well-executed group strategy, which answers the question, “What amount of group business, along with all other segments, constitutes the optimal mix for your hotel?” Of all the market segments that make up a hotel mix, group segments form the strongest foundation for most hotels’ pricing strategy.

https://www.traveldailymedia.com/hospitality/generating-group-business-with-hotel-data/

Connect with us for your connectivity needs to make the most of online revenue. https://goo.gl/3gKUJZ

Thanks and have a good day!

The Week, That Was – August 2018 Week 5

In five minutes or less, keep track of the most important news of the week, curated just for you. We present to you hand – picked news on latest industry perspectives and some general updates. Read on!!

Luxury boutique hotel in Philippines has experienced 5% growth in just 3 months with RateTiger.

Bayleaf Intramuros, an upmarket boutique hotel in Philippines has improved in online sales with efficient rate and availability distribution through RateTiger.

https://www.erevmax.com/blog/index.php/2018/08/luxury-boutique-hotel-in-philippines-improves-online-sales-with-ratetiger/

Miki Travel invests in online booking systems for groups

Miki Travel recently invested in two online booking systems to facilitate ease of doing business and enhance confirmation speed.

http://www.ttgasia.com/2018/08/30/miki-travel-invests-in-online-booking-systems-for-groups/

Why Channel management is fundamental to hoteliers?

Today consumers are influencing room rates more than anytime in history. The internet – with multiple price comparison websites and booking channels – provides a choice. The more savvy consumers get, the more likely rates will continue to fall. However if hoteliers take control of their presence and rates online, revenue managers can make more accurate forecasts to identify occupancy and rate levels to ensure sales are on target.

https://www.erevmax.com/blog/index.php/2018/08/channel-management-is-fundamental-to-hoteliers-2/

Distribution dilemmas, beastly rate parity and Google ‘the travel company

“Google is very much a travel company. They have a platform that provides access to prices, products and reputation related information for travel components, creating immense value for the traveller. At the same time, their search engine and metasearch platforms are an integral and unavoidable part of the traveller’s booking journey from the dreaming to the booking phase. And they are able to capture the subsequent value from these customer phases.”

https://www.eyefortravel.com/distribution-strategies/distribution-dilemmas-beastly-rate-parity-and-google-travel-company

 What hoteliers should know about guest acquisition!

How people travel has as much to do with who they are as where they are going, Lorraine Sileo, SVP of research and business operations at Phocuswright, said during a session at the recent Hotel Data Conference.

Research shows one of the biggest differentiators in how people choose where they research their travel products is age, she said during her presentation, “Hotel path to purchase: The complexity behind consumer choice.”

http://www.hotelnewsnow.com/Articles/289088/What-hoteliers-should-know-about-guest-acquisition

 Connect with us for your connectivity needs to make the most of online revenue.
https://goo.gl/3gKUJZ

Thanks and have a good day!

Luxury boutique hotel in Philippines improves online sales with RateTiger

Superior connectivity with OTAs results in 5% revenue growth in 3 months for Bayleaf Intramuros

Bayleaf Intramuros, an upmarket boutique hotel in Philippines has improved in online sales with efficient rate and availability distribution through RateTiger. The property offering 57 rooms in Manila, has started using RateTiger Channel Manager in June this year and experienced immediate result.

Located within the walls of the oldest district and historic core of Manila, Bayleaf Intramuros is an iconic landmark popular with luxury leisure travellers. The property has been leveraging eRevMax’s seamless connection with global and regional OTAs to update rates and availability across channels like Booking.com and Expedia and receive reservations in real-time. RateTiger’s interface with leading technology providers like DirectWithHotels has allowed Bayleaf to manage their online booking engine through the interface. This has resulted in 5% growth in revenue in just three months.

“We work with a number of online demand partners like Booking.com, Expedia, TripAdvisor- just to name a few. RateTiger has 2-way integration with all these travel sites plus a wide range of metasearch, wholesalers and niche channels to choose from. The best part is I can monitor performance, targets and reservations, always updated, on the LiveOS platform, to make informed decision. We are now able to yield better than before,” said Benjie V. Martinez, Area Director of Sales and Marketing, The Bayleaf Hotels.

Philippines is one of the world’s fastest-growing online travel markets – and much of the region’s online opportunity is yet to be tapped. With close to 46% bookings coming from online, it’s important for the property to maintain presence, maintain exposure in OTAs. The revenue management team of the Bayleaf Hotels is also using RateTiger’s benchmarking report to monitor competitor’s rate movement and maintain rate parity across online sales channels.

“I personally monitor the rates daily and update our prices according to the market demand. The competitor rate shopping tool on LiveOS has really made my daily operations smooth. I am now very hands on with revenue management, more than ever before, thanks to RateTiger”, said Benjie V. Martinez, Area Director of Sales and Marketing, The Bayleaf Hotels.

eRevMax offers seamless connectivity with over 350 distribution partners including OTAs, Metasearch channels, GDS, Wholesalers and offline tour operators among others. The company continues to expand its partner base through new integrations to offer hoteliers integrated and seamless connections across different systems. eRevMax offers rate shopping, channel management and connectivity solutions to hotels worldwide to support complex revenue generation strategies.

 

Luxury hotel in Ghana recommends RateTiger for online distribution

The Royal Senchi Hotel & Resort, a luxury property in Ghana has recommended RateTiger for streamlining online distribution. The hotel has experienced significant improvement in their operational efficiency leveraging RateTiger’s cloud based channel manager and on-demand shopping tool.

Located in Akosombo, a resort town near Ghanaian capital Accra, the The Royal Senchi Hotel & Resort, with its 84 rooms, caters to primarily leisure tourists. eRevMax’s XML connectivity with global and regional OTAs, GDSs and Metas have made it possible for the revenue management team to manage their OTAs, GDS and booking engine from LiveOS dashboard.

 “It was easy when we’re handling just the booking engine. The real challenge came when we signed up with several OTAs – updating multiple extranets and consolidating reports from these channels manually was time-taking and taking a toll on our efficiency.  RateTiger by eRevMax has solved it all. With just one entry I can update all OTAs simultaneously from the dashboard. It also gives me the data I want at one go with a simple click,” said Bennett Attakorah, Rooms Division Manager, The Royal Senchi Hotel & Resort.

 “Providing hotels with stable connectivity remained our priority for the last 17 years. RateTiger and LiveOS have been built with a vision to make online sales simpler for hotels, and this recommendation is a testimony to that,” said Ram Mohan Dubey, Regional Sales Director, eRevMax.

Abasto Hotel experiences 65% revenue growth with RateTiger Channel Manager

Abasto Hotel Buenos Aires,  a  property in Argentinian capital, has improved its online sales by over 80% leveraging eRevMax‘s gold standard of connectivity with leading OTAs. The Buenos Aires based property has been using RateTiger  Channel Manager  for online distribution and managing rates and inventory across its connected OTAs since 2012.

A family-friendly property with 126 rooms, Abasto Hotel is located in the historical district, just steps from Museo de los Ninos and Abasto Shopping Center and caters to upmarket business and leisure travellers. RateTiger’s seamless connectivity with global and regional OTAs as well as metasearch sites allows Abasto Hotel to be visible in all relevant sales channels for maximum exposure.

“In the past 4-5 years, we have seen our online revenue grow 65% with an 80% increase in OTA sales. We have experienced an overall growth in business and our occupancy have gone up despite the macro-economic factors,” said Silvina Donvito, Revenue Manager at Abasto Hotel Buenos Aires.

RateTiger is more than just a hotel channel manager. It’s a powerful tool that makes connectivity simple and hassle free. The stable and secure connections help in making immediate rate and inventory updates across all channels while also delivering bookings back into the system. Further, the 24×7 support makes it very convenient as we can go to them whenever with the smallest of query and they are always happy to help,” concluded Silvina.

The Argentinian hotel market is characterized by regional operators that have a strong position. With supply of rooms outpacing demand, online channels have emerged as an important revenue source for hoteliers. Abasto Hotel, with 15 OTAs in its distribution mix, has been able to improve its occupancy to 85%, about 20 points more than the industry average in Buenos Aires. This has resulted in an increase in RevPAR and profitability, with the help of RateTiger Channel Manager.

Hotelaria Brasil recommends RateTiger ahead of WTM Latin America 2017

Hotel connectivity expert eRevMax has consistently been recommended by its hotel clients globally. Hotelaria Brasil has been using RateTigersolutions across all its 14 properties for the past few years. The team has immensely benefited in their overall implementation of pricing and revenue strategies. 

Raffaela Gambarini, Revenue Management Coordinator at Hotelaria Brasil said “RateTiger comes to meet our Revenue Management strategy facilitating the daily tasks of a hotel Ecommerce department. We are very satisfied with all the features of RateTiger platform that allow us to save time and increase revenue results.” 
Alex Moura, Regional Sales Director at eRevMax commented, “We believe in long term partnership with our clients and treat them as business advisors. Over time, we have developed various new features within our Shopper and Channel Manager products providing more options and a wider network. We are glad to see how Hotelaria Brasil has leveraged RateTiger in achieving their revenue goals through effective pricing decisions.”
“We are excited to be presenting LIVE OS at WTM Latin America in Sao Paulo next week. LIVE OS is the first hospitality operating system that offers hoteliers with relevant business intelligence components along with access to various service providers from a single sign-on platform. We will be showcasing this fantastic platform to hoteliers and partners during the event,” concluded Alex. 
eRevMax is known for its stable solutions with 99% product uptime. The company has invested in building a robust infrastructure to provide hoteliers with uninterrupted service offering 2-way XML connectivity with over 300 online channels and provides 24×7 customer support. It is the connectivity partner of choice for large hotel groups, mid-scale chains as well as small properties in both luxury and budget segment worldwide. 
Alex Moura and Julian Lindt from eRevMax will be present at WTM Latin America in Sao Paulo from 4 – 6 April 2017. Book a meeting with them today on marketing@erevmax.com

Sweden Hotel recommends RateTiger solutions for its affiliated hotels

Sweden Hotels, the personal hotel chain of Sweden has endorsed RateTiger as its preferred Channel Manager for all its affiliated properties across the country. Founded in 1977, the group has over 60 properties with three-and four-star hotels spread across Sweden all starred under European Hotel Stars Union.

RateTiger Channel Manager and Rate Shopper products are amongst the best available in the market for hoteliers who want to retain control of their rates and availability being marketed and sold through various booking channels.  The purpose of this strategic partnership is to make it easier for our member hotels to select the most suitable technology solution to find their best match in channel management solutions,” said Eva Palmgren, CEO, Sweden Hotels.

The leader in  online distribution, channel connectivity, market intelligence and revenue management solutions, eRevMax’s flexible, multi-platform solution to manage online sales and exposure, has been used by over 20,000 hotels across the world. This endorsement from Sweden Hotels will allow all member hotels of the chain to streamline their online distribution through rate shopping, channel management, reservation delivery and guest review management and expand their distribution network.

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