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 ME region.
Data range spans across Aug to Oct 2013, starting from the first week of Aug (all rates in US dollars and for two adults on one-night stay). Performance Facts: In price trends report: The data covers minimum and median rates across the region for the period from August to October 2013. There are no clearly discernible patterns in the trends for price movement with some cities showing a decline in rates while others are flat or have a rising trend. For 3-star hotels rates increase towards October in Abu Dhabi, Doha, Muscat and Riyadh whereas there is a decline in rates in Beirut, Bodrum and Kuwait. The movements are similar for 4-star and 5-star hotels with Casablanca and Istanbul also showing a rising trend in these categories. The widest rate ranges (as shown by the difference between the minimum and median rate values) are seen in Bodrum, Cairo, Istanbul and Riyadh for the 3-star category and Kuwait, Bodrum and Riyadh for the 4-star category. As is often seen in these reports the widest rate ranges are in the 5-star category: Dubai has a minimum rate of $102 and a median of $345 while in Bodrum the range runs from $175 to $430.
In Parity trend report: The level of rate parity between hotel websites and OTAs shows some variations in the locations covered by the report, which is for the period from August to October 2013. All of the 3-star hotels sampled in Abu Dhabi, Cairo and Riyadh were maintaining parity but this was not reflected similarly in these locations in the 4-star and 5-star categories: more than 80% of the upper segment hotels in Abu Dhabi were cheaper on OTA sites. Amman, Dubai and Sharjah also show more than 70% of sampled 4-star and 5-star properties being cheaper on OTA web sites. In Istanbul the picture is more balanced and around 20% of hotels in all categories were found to be cheaper on the brand website. Tel Aviv and Cairo 4-star hotels and Riyadh 5-star hotels also have around a third of the sample appearing with cheaper rates on brand websites.
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.
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