OTA Insight launches Parity Insight, 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.
Parity Insight's user-friendly dashboard helps hoteliers better control distribution and helps to manage their reliance on online travel agency business. The business-intelligence product tracks where hoteliers are losing revenue and finds 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.
Results from OTA Insight's first Hotel Parity Report have found that in North America, 48 percent 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 percent 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.
“The goal of our integrated and intuitive solutions is to provide revenue managers with the tools to create prosperous revenue strategies,” OTA Insight co-founder and chief commercial officer Gino Engels said in a statement. “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.”