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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. Serving as intermediaries in the travel industry, bed banks enable hotels to increase occupancy without directly managing complex distribution channels.
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. This dominance comes at a cost.
Why Hotel Packages Work When travellers book accommodation, they’re often looking for more than just a bed. That’s where hotel packages come in. According to Expedia Group, packages often increase booking lead time, reduce cancellation rates, and boost total spend per guest by up to 30%.
Chargebacks are recurring in the hotel industry, costing hotels time and money. Studies show that hotels lose up to 20% of their annual revenue to chargebacks caused by guest disputes, unclear cancellation policies, and OTA-related miscommunication. Common Causes of Chargebacks 1.
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. In fact, the extra investment driving this change is making itself felt in other ways too.
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 Nonetheless, the OTAs are betting big and appear to remain hopeful for a bumper 2024.
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.
For hotel chains and resorts managing high service volumes across multiple properties, the pressure to respond faster — without sacrificing quality — has made automated customer service not just an operational upgrade, but a financial necessity. Let’s check it out! What Is Automated Customer Service in Hospitality?
If they see better rates on online travel agencies (OTAs) , they’ll lose trust and likely bounce. Flexible Cancellation Policies : In an unpredictable world, flexibility matters. Promote direct booking perks like free breakfast, flexible cancellation, or early check-in. If it takes more than a few clicks, you’re losing them.
When it comes to planning a trip, choosing the right online travel agency (OTA) can make all the difference. In this blog, we’ll explore the top US-based OTAs of the year, helping you make an informed choice for your next adventure. Whether you’re planning a flight, hotel stay or car rental, Expedia has you covered.
Sydney, Australia A new report by SiteMinder, the worlds leading hotel distribution and revenue platform, reveals that hotel websites outperformed all other booking sources in driving revenue per booking in 2024, by as much as 60%. This figure was 8.5%
That means the demand is spread across different hotel categories. Hotels that used eZee Mint AI during Coldplays concert optimized their pricing in real-time , ensuring they werent undercharging but also werent scaring away potential bookings. The key is to balance affordability with profit margins , and AI does that seamlessly.
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). These platforms have become the go-to for many travelers, offering a simple and convenient way to book everything from flights to hotels.
Can hosts cancel a booking on Booking.com? Yes, as a host you can cancel a booking on Booking.com – but only when certain issues arise, such as no-shows, payment issues, double bookings or if a guest asks you to. As a host you probably know that Booking.com makes it simple for the guest to cancel.
What is the Expedia cancellation policy? Expedia provides a cancellation policy that allows users to cancel or modify their reservations without any charges or penalties within the first 24 hours. Knowledge of Expedia’s refund policy is a crucial aspect of managing a small hotel business effectively.
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?
But when integrated, they help a hotel in reducing costs, increasing operational efficiency, improving staff competence, and in serving guests better. It automates and streamlines hotel operations across all the departments. A Hotel PMS also helps them delegate housekeeping tasks, set up and run POS outlets, generate guest folios, etc.
Additionally, you may distribute your hotel rooms across multiple third-party channels such as OTAs , GDS providers , or meta-search providers. Many larger hotels will implement an overbooking strategy. The thought behind this tactic is that some cancellations – or “wash” – will happen. What is an overbooking strategy?
Running a hotel means finding ways to attract more guests. One of the best ways to do that is by listing your property on Online Travel Agencies (OTAs). These websites allow people to quickly book rooms at your hotel from anywhere in the world. What is an Online Travel Agency (OTA)? With over 1.5
When it comes to the future of online travel agencies (OTAs) and their role in the hospitality industry, there are a few key trends and factors to consider. In this post, let us focus on the reasons that will point toward the predictions and trends that have impacted OTAs.
What is hotel compliance? Hotel compliance is a framework followed by hotels to ensure that they meet all legal, safety and operational standards required by relevant authorities and industry bodies. Compliance is a critical consideration for small, independent, hotels, as non-compliance can have serious consequences.
With the right technology, these contactless experiences can not only enhance guest satisfaction , making it easier for travelers to get what they need, but also streamline internal workflows, making day-to-day hotel operations effortless for teams. Discovery Guests expect to be able to book a hotel stay without having to pick up the phone.
Remember the days when booking a hotel meant flipping through glossy brochures or spending hours on the phone? Well, those days are long gone, and in 2025, the hotel booking game has reached a whole new level of sophistication. Ready to become a hotel booking wizard? No more nasty surprises when you check in!
Google Hotel Ads sunsets Commission-Based Bidding, now what? As of February 20, 2025, Google has officially sunset its commission-based bidding strategy for Google Hotel Ads. This bid strategy, which only charged hotels for actualized stays produced by its hotel ads campaigns, became immensely popular during the COVID-19 pandemic.
In today’s digital age, effective hotel distribution and pricing strategies are crucial for maximizing revenue and staying competitive. This article highlights the non-negotiable elements that form the foundation of a profitable hotel distribution strategy.
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.
Find out more here Cancel Booking feature (enhancement) When cancelling bookings via STAAH MAX extranet, it will now display booking cancellation policy. So the property can see the policy before cancelling. New OTA Integration Online platform offering Hourly Hotels, Homestays, Service Apartments along with F&B.
A hotel booking engine is a crucial tool for hotels and accommodation providers in today’s time. It plays a key role in the overall success of a hotel’s operations. By facilitating direct bookings, hotels can avoid commission fees and have more control over their pricing, promotions, and guest relationships.
The vibrant city hotel’s revenue strategy, driven by STAAH’s OTA connections, resulted in a remarkable 300% year-on-year increase in direct bookings since the transition. However, IDEAS was struggling to achieve this with constant connection issues with multiple online travel agents ( OTAs ).
With the ever-rising prevalence of online bookings, it is now more important than ever for hotels to ensure that their booking engine features are up to speed in order to ensure the smoothest booking process possible and avoid website abandonment. Allow guests to easily modify or cancel their bookings online.
The future of AI in hospitality is no longer a distant realityit’s starting now, transforming how hotels communicate with travelers, drive direct bookings, and streamline key functions in daily operations. Its a strategic asset for hotels seeking to scale personalized service and optimize commercial performance. billion by 2026.
For Hotels For Professionals For Education Solutions Courses Certifications Immersive Learning Baseline Integrations Ritrovo Integration Maestro Integration Pricing Hotels and Education Individuals Resources News and Insights Tech.Ex Rodica offered three core takeaways for hotel teams: Prioritise guest experience from beginning to end.
What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Other products such as hotel amenities and food and beverage offerings will also form part of the strategy.
The guest review score is a critical KPI for accommodation providers, influencing everything from OTA visibility to guest trust. Rodica offered three core takeaways for hotel teams: Prioritise guest experience from beginning to end. Do stricter cancellation policies impact revenue? It depends. The post Booking.Yeehaw!
SiteMinder and The Hotels Network Conversion rates and abandoned reservations have always been a challenge for hotels, more so than in most other industries. The average hotel website converts somewhere between 1.5-2.5% Here are the 10 best tips from SiteMinder and The Hotels Network: 5 tips from SiteMinder 1.
Discount pricing strategy comes in many forms, and a hotel also needs to consider how to promote discount pricing offers in order to reach the maximum number of relevant eyeballs. Encourage direct website bookings, sidestep OTA fees, enjoy greater freedom when developing your discount strategy. Discounts for guests who book direct.
Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. However, there are many factors that can influence your hotel’s pricing strategies. What is Hotel room pricing? What is Hotel room pricing? Hotel room pricing is a critical element of revenue management for hotels.
To navigate these complexities, hotels are increasingly turning to data analytics. By utilizing the power of data, hotels can anticipate demand surges, optimize maintenance operations and enhance the guest experience. Also Read: Is Your Hotel Ready for the Peak Season? Customized Offers : Align promotions with past behaviors.
Hotels often experience something similar to this when their prospect guests visit their website but do not make any bookings. They surf through the internet, various hotel websites, and OTA platforms to find a perfect stay at an affordable price. I bet you don’t want your hotel to be just a part of their surfing process.
Over the last decade, hotels are inclining toward data-driven and psychological approaches. Understanding The Different Stages of Hotel Guest Journey. A guest journey can be defined as a collection of events that starts and goes beyond the physical walls of the hotel. Understanding the Different Stages of Hotel Guest Journey.
When travelers make a hotel reservation, they expect a seamless experience , or they may decide to stay elsewhere. For hotels, meeting this expectation means moving away from manual processes and investing in booking software that allows travelers to book a room when they want on the channel of their choice.
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%. OTAs at the higher end of the range, 10%; hotels’ own websites, somewhere in the 8% range, but a really robust rate of growth.
What is hotel investment? Hotel investment is the act of spending money on a hotel to make money from a hotel. The aim is to generate a hotel return on investment (or hotel ROI); money that you can either reinvest in the business or extract as profit. Hotel investments come in many shapes and sizes.
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