OTA Insight's UK and European Hotel Parity Report Reveals Parity Is a Major Issue for European Hoteliers
OTA Insight, a cloud-based data intelligence platform for the hospitality industry, announced the release of its first-ever UK and European Hotel Parity Report during WTM London.
The UK and European Hotel Parity Report provides a deep-dive into market trends affecting rate parity for hotels, including:
- European parity performance trends
- Parity performance of Major Chains versus Independents and Local Chains
- Rate variance breakdown
- Contracted versus non-contracted channel performance
- Parity performance by channel
Findings from European Hotel Parity Report:
Results from OTA Insight's first-ever European Hotel Parity Report have found that price parity is a major issue for European hoteliers. Fifty-two percent of the time, OTA rates were more competitive than an Independent or local chain hotel's website rate, whilst in major chain hotels this occurred 44 percent of the time. The report also reveals the leading channels where these parity issues occur, with eSky topping the list for independent hotels and local chains as well as across major chain hotels. The full report will provide a complete breakdown on parity for the UK and European markets.
The report was compiled from data generated from OTA Insight’s parity intelligence platform, Parity Insight. The user-friendly dashboard tracks where hoteliers are losing valuable revenue and finds all 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.
Earlier this year, OTA Insight released their first-ever North American Hotel Parity Report. Results from the North American Parity Report 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 will be available for download on November 5 here.