New hotel distribution platform Fastpayhotels has partnered with SiteMinder to meet a growing demand from the hospitality industry for reservations to be paid at the time of booking. The partnership makes Fastpayhotels the only channel available through SiteMinder's Channel Manager that provides hotels payment at time of booking for their rooms, up to 390 days in advance of stays and with no refunds for cancellations.
Alex Gisbert, co-founder and CEO of Fastpayhotels, said that due to the B2B platform's focus on dynamic rates and with 99 percent of Fastpayhotels' sales currently going through channel managers, it was an obvious decision to integrate with the hotel industry's largest channel management platform.
"The role of travel agents today is at risk as hotels look to move away from slow-paying bed banks, booking websites that display incorrect rates because they can't be updated in real-time, and the inability to access the lowest room rates,” Gisbert said. “Fastpayhotels removes these challenges and we are thrilled SiteMinder's more than 20,000 hotel customers can now experience the benefits at commission levels below 14 percent."
Since its launch into the market earlier this year, Fastpayhotels has been adopted by more than 280 travel operators and more than 4,000 hotels in 21 countries, including Spain, where it quickly attracted local investors and is based in Palma de Mallorca.
Fastpayhotels' model modernizes the relationship between hotels, travel agents and bed banks by replacing static, out-of-date rates with dynamic rates and availability.