Hotel Technology Next Generation

RateGain, The Leading hospitality technology company, released this week's Hotel Pricing Trends and Hotel Rate Parity report. A single window BI dashboard, which enables revenue professionals on cheapest rate visibility, tracking hotel rate parity along with median rate for three (3) months of three, four and five star hotel category across some of the major cities in European region.

Data range spans across February to April 2013, starting from the second week of February (all rates in US dollars and for two adults on one-night stay)

In price trends report, Lowest rate trends over the three months show minimal variations in the 3-star category except for some gradual increases in Miami and Montreal. In the 4 and 5-star categories min. rates showed a modest downward trend in Los Angeles and Miami. Overall, minimum rates for 5-star hotels show the most volatility particularly in Philadelphia and Orlando. Median rates across all categories are seeing relatively little movement during the reporting period either remaining flat or with some small increases in most locations. As noted in previous reports, a wide range of rates (shown by the difference between minimum and median numbers) is seen in Chicago, Los Angeles and Toronto. However, New York leads the way in terms of rate range with 4-star hotels offering a minimum of $127 and a median of $468.

In Parity trend report, The level of rate parity between hotel websites and OTAs is generally quite low in the locations covered by the report, which covers the period from April to June 2013. New York and Las Vegas hotels are maintaining the highest levels of parity for the 3-star category; between 21% and 45% of 4-star and 5-star hotels in Houston and Montreal have parity. However, in every sample the largest proportion of the cheapest rates was to be found on the OTA sites: over 80% of Boston, Miami, Philadelphia and Toronto's 4-star hotels are cheaper on OTA sites. Around a quarter of Seattle and Vancouver hotels are showing cheaper in brand websites but this is not a generally reflected trend. The report shows that OTAs are continuing the trends of reinforcing consumer behaviour in the direction of finding the cheapest rate; hotels may take more control by identifying overall distribution costs and by finding ways to differentiate the products they offer through their websites e.g. with promotions and add-ons.

NB: RateGain specializes in competitive price intelligence and rate shopping solutions for hotels. It currently tracks more than one billion hotel rates every month across countries in US, Europe, Middle East, Asia and Latin America.

NB2: The above data is indicative in nature and RateGain can't be held liable for its accuracy or usefulness for any purpose.

RateGain Travel Technologies Limited is a global provider of AI-powered SaaS solutions for travel and hospitality that works with 3,200+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. RateGain today is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with 26 of the Top 30 Hotel Chains, 25 of the Top 30 Online Travel Agents, 3 of the Top 4 Airlines, and all the top car rentals, including 16 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit www.rategain.com.