RateGain, the leading hospitality & travel 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 US region.
Data range spans across Sept to Nov 2013, starting from the first week of Sept (all rates in US dollars and for two adults on one-night stay). Performance Facts: In price trends report: Lowest rate trends over the three months from September to November are generally flat or slow a slight upward movement in all categories. The exceptions are Miami and Orlando for 5-star and Los Angeles for 4-star where the lowest rates are trending upwards in October and November. Median rates across all categories are also mirroring the relatively flat trend although in New York the median rates in the 3-star and 4-star categories spike noticeably higher in October. As noted in previous reports, the widest range of rates (shown by the difference between minimum and median numbers) is seen in Chicago, Los Angeles, Toronto and Vancouver. Predictably, New York leads the way in terms of rate range with 4-star hotels offering a minimum of $205 and a median of $495 in November followed by Philadelphia where the range runs from $112 to $273.
In Parity trend report: The level of rate parity between hotel websites and OTAs is noticeably higher than previously for many of the locations covered by the report, which is for the period from September to November 2013. In Los Angeles, Miami, Montreal, Toronto and Vancouver hotels have the lowest levels of parity for the 3-star category; conversely in Houston and Seattle more 60% of hotels in all categories are in parity. Chicago also shows rates in parity at more than 50% of 4-star and 5-star hotels. The largest proportion of the cheapest rates was to be found on the OTA sites in Toronto, Montreal and Vancouver; brand sites are also showing a proportion of the cheapest rates in Vancouver but this is not a generally reflected trend. The report shows that OTAs may no longer be reinforcing consumer behaviour in the direction of finding the cheapest rate and parity agreements are continuing to have an effect; the legal challenges being made to rate parity agreements in some parts of the world may lead to a reduction over time in the measured levels of rate equivalence through different channels.
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.
Contact
RateGain PR
Phone: +91 120 4246781
Email: marketing@rategain.com
Organization
RateGain Technologies Limited
https://www.rategain.com
6th Floor, 9 Appold Street
London, EC2A 2AP
United Kingdom
Phone: 44 2035141419
Email: marketing@rategain.com
Recent News
 RateGain Announces Exclusive Partnership with Aztech Digital to Accelerate UNO VIVA’s Expansion Across Greece and Cyprus |
 From Data Overload to Commercial Clarity: Why Hotels Need Smarter Decision Intelligence | By Mayank Rastogi |
|
The Future of Hotel Distribution Is Holistic, Not Just About AI - The Voice of a Hotelier |
