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The hospitality and travel industry is experiencing a spending surge, with online travel agencies (OTAs) like Expedia Group, Booking Holdings, Airbnb, and Trip.com Group collectively spending a record $4.08 billion on sales and marketing in the first quarter (Q1) of 2024. billion in marketing spend during Q1.
Finding the right balance between OTAs and direct bookings is a crucial strategy for hotels and accommodation providers for success. On one side, you have OTAs (online travel agents) that are vital distribution partners to liquidate unsold inventory and put heads in beds. There are some distinct advantages of partnering with OTAs.
A bed bank is a business-to-business (B2B) travel provider that connects hotels with travel distributors, such as online travel agencies (OTAs) and tour operators. By collaborating with bed banks, hotels gain access to international markets and diverse travel audiences. How does the concept of a bed bank work?
Listing your short-term rentals on Online Travel Agencies (OTAs) can amplify your visibility and attract potential guests, a phenomenon known as the Billboard Effect. As customers come to OTAs with specific desires, it’s crucial for hosts to meet and even exceed the expectations of prospective guests. Competitive pricing.
The battle for direct bookings has entered a new phase as online travel agents (OTAs) ramp up efforts to establish ownership of hotel guests and their booking journeys, a new report from hospitality technology specialist SHR Group reveals. A knock-on effect of this is that the revenues associated with organic search have fallen 15.3%
When it comes to planning a trip, choosing the right online travel agency (OTA) can make all the difference. In 2023, the US market is bustling with various online travel agencies, each offering unique features and services for travelers. Expedia Expedia is a powerhouse in the US travel market, known for its comprehensive services.
Managing fees on online travel agencies (OTAs) can be a real headache for property managers. According to a new Forbes report, Airbnb customers in summer 2023 face a whopping average of 36% in added charges above the nightly rate, and the same is probably true for other OTAs. This increases your ranking on OTAs. More info here.
higher than the prior year and more than 60% above the value-per-booking via OTAs (US$320); more than 35% above global distribution systems (US$380); and more than 15% above wholesalers, DMCs and tour operators combined (US$446). This figure was 8.5% The longest stays were in Portugal and the shortest stays were in Taiwan.
Dynamic pricing isnt just about increasing ratesits about pricing smartly based on real-time demand, market trends, and competitor rates. If youre still relying heavily on OTAs, now is the time to push direct bookings with exclusive deals. Some guests overbook, others change their plans last minute, and some simply forget to cancel.
For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.
In today's digital world, Online Travel Agencies (OTAs) like Booking.com and Expedia have become essential for hotels looking to reach a larger audience and increase bookings. OTAs offer unmatched exposure, but with so many hotels listed, it can be challenging to stand out. Why OTAs Matter for Hotels?
What is the Booking.com cancellation policy? The Booking.com cancellation policy outlines the terms and conditions that apply when a guest cancels a reservation at your hotel. It includes specifics about refund procedures, penalties, and fees associated with cancellations.
The travel industry has undergone many changes in recent years, and one area that’s constantly evolving is the world of Online Travel Agencies (OTAs). As we step into 2024, it’s clear that OTAs are not slowing down regarding innovation. Let’s dive into the top trends shaping the OTA landscape in 2024.
Market Insights by Booking.com Market insights can provide a comprehensive understanding of market trends, guest preferences and industry dynamics. STAAH MAX users can analyze market insights and make informed decisions. So the property can see the policy before cancelling.
There are several types of hospitality technology solutions that are available in the market. Your front desk staff can use a Hotel PMS to accept, cancel, and modify reservations based on your guests’ requirements. For example, you sell your rooms on 5 OTAs. Each of them has its own characteristics.
Properties can tap into this increase in demand and secure revenue by offering targeted discounts to international travellers who tend to book earlier and cancel less. For steps on how to Add Country Rates via STAAH click here OTA Promotions OTA promotion feature allows a property to set up promotions on Booking.com via the MAX extranet.
SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.
The more intuitive and easier your booking process is, the easier it will be for hotels to compete with online travel agents (OTAs) for direct bookings. Ability to offer guests offers, demand-led rates ( dynamic pricing ) and comparing rates with OTAs. Allow guests to easily modify or cancel their bookings online.
If you are a smart hotelier or any type of accommodation provider, you would not want to miss the chance of converting your website visitors from an OTA (or any other source) and bag the commission-free direct bookings. With the right analytics tools, hotels can make data-driven decisions to optimize their revenue and marketing strategies.
4) Defining Target Audience: To make online distribution more efficient, it is essential to clearly define the target audience or market. 8) Online Travel Agents (OTAs): Working with multiple online travel agents (OTAs) is crucial for increasing digital distribution and overall occupancy.
trillion travel market. The global travel market is currently worth US$2.3 The global travel market is currently worth US$2.3 But if you break it down in terms of the players – OTAs, travel agencies, hotel websites and other players – all of them will be growing at a rate of somewhere between 6-10%.
And yet, many hotels overlook metasearch in their digital marketing strategy , missing out on opportunities to reach a broader segment of travelers, compete for business with online travel agencies (OTAs), and drive direct bookings. Most metasearch sites operate in a similar way.
What do these travel trends mean for hotel marketing? If you get it right, your guests will not only return, but also becomes your brand ambassadors, amplifying your marketing efforts. Direct bookings are on the rise and your website is one of the most effective marketing tools to attract and convert guests (commission-free).
Revenue management revolves around measurement of what customers from different audience segments are willing to pay, as well as the ever-changing supply and demand within each market. The right distribution channels can have strong marketing power, putting your hotel in front of many customers you aren’t able to contact directly.
Whether managing a big hotel chain or a small boutique property, working with OTAs helps you reach more travelers and fill more rooms. This blog will explain OTAs, how they work, and why they're essential for hotels. OTAs offer a platform where people can compare hotels, check prices, and book their stay instantly.
Our properties excel in the leisure market, delivering exceptional value for those seeking a vibrant city escape. It expands market reach by connecting with various online travel agencies (OTAs), global distribution systems (GDS), and direct booking channels, increasing visibility and bookings.” “The
5 Must-Have Hotel Marketing Channels Last week, in “ Hotel Marketing in a Down Economy, ” GCommerce’s Founder, Scott van Hartesvelt , shared some important hotel booking pattern signals, what history has taught us about navigating a challenging economy, and how properties can come out stronger on the other side. decrease YoY.
The bottom line is that hotels can lose millions of dollars in revenue due to abandonment, especially when you also consider that guests may book a room before delaying payment, and then cancelling altogether. 5 tips from The Hotels Network 6. 5 tips from The Hotels Network 6.
These sites may vary to include online travel agencies (OTAs) such as Booking.com , Expedia, Tripadvisor, or Agoda; travel metasearch engines such as Google, Kayak, and Trivago; GDSs such as Amadeus and Sabre; bed banks such as Hotelbeds, or online marketplaces such as Airbnb, Vrbo (former HomeAway), etc. The same happens with a cancellation.
A basic strategy might involve listing your property on a few key online travel agencies (OTAs) like Airbnb and Booking.com and leaving it at that. A specific OTA may help increase occupancy , but it might not actually be profitable for your hotel. Cost of acquisition – which channels are most cost-effective?
Many hospitality conferences and conventions were virtual or hybrid events , while others were forced to cancel altogether. 2021 also brought about many exciting developments in hospitality technology, digital marketing, hotel services, and changes in travel trends. HITEC ORLANDO. June 27-30 | Orange County Convention Center | Orlando.
And it all starts with hotel market segmentation. What is hotel market segmentation? Hotel market segmentation is the process of grouping hotel guests into categories based on shared behavior and characteristics. Some hotels break down transient business into subgroups such as OTAs, direct bookings , packages, and consortia.
China’s largest OTA, Trip.com, discovered the most popular destinations so far are Singapore, South Korea, Hong Kong, Japan and Thailand. Of the 10 markets surveyed, Chinese travellers are the most heavily concentrated in these two accommodation types. Additionally, 47% plan to book with an OTA and 24% direct with their accommodation.
It also shows what type of guests are staying at your hotel and even what booking channels (direct, online travel agencies (OTAs), etc.) You will have a better understanding of who is your guest and the percentage you are selling to each segment (ideally per month) such as: direct bookings (transients etc), corporate, groups, long stay, OTAs.
This commission covers the cost of listing your property on their platform, accessing their extensive customer base, and using their marketing tools. Learn more Booking.com fees for hosts and hotel owners Like many OTAs, Booking.com charges some fees to hosts and hotel owners, and some to guests. Does Booking.com include resort fees?
4) Flexible Cancellation Policy Guests are looking for flexibility , now more than ever. People are even ready to pay a better price in order to have the flexibility to cancel. We would love to hear from you, if you have any tips on how you plan your hotel room pricing, feel free to write to us at marketing@staah.com
With rate parity in the hotel industry, if you sell a room on Booking.com for $100 per night, you will have to set the same rate on all other booking platforms, whether it’s other online travel agencies (OTAs) , metasearch engines, brick-and-mortar travel agents or your own website.
Properties can tap into this increase in demand and secure revenue by offering targeted discounts to international travellers who tend to book earlier and cancel less. For steps on how to Add Country Rates via STAAH click here OTA Promotions OTA promotion feature allows a property to set up promotions on Booking.com via the MAX extranet.
They surf through the internet, various hotel websites, and OTA platforms to find a perfect stay at an affordable price. Handle cancellations like a pro. Handle cancellations like a pro. One thing that can’t be overlooked here is when your guests confirm a booking with you and then cancel it. Keep your audience engaged.
This is done by thoroughly understanding your property, its customers, and the market. Also, gone are the days of selling the majority of your rooms through OTAs. Making sure you get your fair share of direct bookings allows you to compete with OTAs and avoiding to pay the hefty commissions on those bookings.
Importance of Pricing Strategies to Grow Your Hotelier Business Any hotel must have an effective pricing strategy to be successful, especially in a competitive market. Staying Competitive: Finally, hotel pricing strategies are essential to stay competitive in the market.
Ideally, this means travellers looking for “hotels in” will be quickly enticed further down the sales funnel, which can be a click-through to your website to book directly, an OTA, or a booking generated directly on Google. At the same time, significant differences are to be expected due to seasonality, but also between markets.
Evidently, this is the stage when she is most likely to turn to search engines, OTAs, metasearch platforms, destination marketing organizations (DMOs), and social media. By having a significant presence online; be it a dedicated website, Google My Business profile, OTA listings, social media, etc. And how could you do that?
SiteMinder’s new Hotel Booking Trends report, the only hotel commerce data analysis of more than 35,000 hotels and 450+ connected booking integrations, has revealed travellers booked their trips on average eight days earlier, and cancelled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.
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