Despite recent events, rate parity it is still very often a contractual requirement to do business with the large OTAs.
However, for many properties, the practice of rate parity goes beyond any binding agreement. It is part of the hotel’s pricing strategy as it ensures a consistent price and supports the brand by adding to its rate integrity.
YieldPlanet helps hoteliers willing to maintaining consistent prices for all partners with the various room types, dates and restrictions. By automating the entire process, YieldPlanet’s Channel Manager takes risk, cost and effort out of online channel management – so that the hotelier can sell online in full confidence and focus on other important hotel management tasks. In addition, YieldPlanet’s Price Shopper allows verification of the hotel’s pricing over the last 30 days across up to three different OTAs. A red highlighting will alert the user to prices which may not respect price parity.
Depending on the distribution channel strategy, a hotel may not want rate parity. With YieldPlanet’s Channel Manager it is also possible to differentiate the offering.
This can be achieved in two ways. The mapping tables allow to introduce formulas (plus or minus an amount or percentage of the price) which enables to send different prices per mapping, per channel. It is also possible to enable a completely separate price and availability screen per partner where values can be inserted manually, per OTA.
Nevertheless your price strategy, it is worth to remember that room rate is one of the tools you have to attract and satisfy guests. With this in mind, YieldPlanet designed products ready to serve different pricing structures and strategies, depending on your hotel, room products and services.
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