New product offering launches alongside findings from first-ever Hotel Parity Report.
HOUSTON – OTA Insight, the cloud-based data intelligence platform for the hospitality industry, announced the launch of its latest development, Parity Insight. As the latest addition to its suite of revenue intelligence solutions, Parity Insight helps keep control of distribution costs so that revenue managers feel more empowered to make smarter revenue and distribution decisions.
Parity Insight's user-friendly dashboard helps hoteliers better control distribution and helps to manage their reliance on OTA business. The business intelligence solution tracks where hoteliers are losing valuable revenue and finds all discrepancies between their brand and third-party channels. Through Parity Insight, revenue managers are able to view historical parity issues to monitor the evolution of their performance, track future parity issues up to 12 months in advance, as well as monitor real-time updates on how rates are appearing on OTA and metasearch websites.
In conjunction with the launch of Parity Insight, OTA Insight will be releasing key findings from its first Hotel Parity Report. This new report will provide a deep-dive into market trends affecting rate parity for hotels and will highlight:
- North American parity performance trends
- Parity performance of Major Chains versus Independents and Local Chains
- Rate variance breakdown
- Parity performance by channel
Findings from Hotel Parity Report: Results from OTA Insight's first Hotel Parity Report have found that in North America, 48% of the time, OTA rates were more competitive than an Independent or Local Chain hotel's website rate, which is in contrast to Major Chain Hotels where this occurs 24% of the time. The report also reveals the Leading Channels where these parity issues occur, with SnapTravel topping the list for Independent Hotels and Local Chains as well as across Major Chain Hotels.
According to Gino Engels, Co-founder and CCO of OTA Insight, "The goal of our integrated and intuitive solutions is to provide revenue managers with the tools to create prosperous revenue strategies. Through our Hotel Parity Report and Parity Insight tool, we are uncovering where and why parity issues arise while simultaneously supplying a solution that helps revenue managers control overall parity performance. We look forward to showcasing both the findings from our report and the new tool to our industry colleagues at HITEC Houston."
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
