OTA Insight, the cloud-based data intelligence platform for the hospitality industry, announces the newest enhancement to its Parity Insight solution. As of today, Parity Insight allows teams to fully close the loop and take control of key rate parity issues impacting hotels' bottom line from one single dashboard.
The ground-breaking end-to-end solution will be unveiled at the travel industry's largest stage, HITEC Minneapolis. It will form the latest addition to OTA Insight's suite of cloud-based business intelligence solutions for hoteliers who are looking to make smarter revenue and distribution decisions.
"Hotels must clearly understand where their lost revenue is going in order to develop revenue and distribution management strategies that drive direct bookings and overall profitability," says OTA Insight's Co-founder and Chief Commercial Officer, Gino Engels. With Parity Insight, we went a step beyond just monitoring inconsistencies in parity, by developing a unique new solution that visualizes revenue leaks and empowers hoteliers worldwide to take immediate action to close the loop and have the most direct impact on their brand promise and profitability."
Using Parity Insight, hotels and chain/group-level managers will be able to detect, action and resolve parity issues in real-time via smart workflow automation and communication between suppliers, chains and hotels on a global scale, enabling a closed-loop parity control process for global hotel chains, local brands, management companies and ownership groups.
Hotel groups will also have the option to check on wholesalers selling rates to unauthorized OTAs via automated root-cause detection technology. "Though many hotels have contracted terms with authorized OTAs, wholesalers are on-selling rooms to non-contracted OTAs, undercutting hotel rates as much as 25 percent, according to our data," said Engels.
The Parity Insight end-to-end solution was developed and designed based on parity management best practices from over 40,000 hotels, many of whom have witnessed first-hand the impact of rate disparity.
"Overall, this product enhancement addresses a major issue in the hotel industry right now," said Jeff Wermager, Senior Director of Revenue Optimization Services, Radisson Hotels. "It is really a game-changer, specifically, the insight that Parity Insight has now brought us with issue identification, as it uncovers the problems that may not have been brought to our attention in our manual process. I really feel we have a concrete starting point that allows us to create initial action plans for how we're going to attack and reduce these parity issues. By having this understanding, our brand's performance will improve, but what these new features of Parity Insight will help us do as an industry is to level the playing field for us to sell our products on our own merits."
For more information, OTA Insight will be showcasing Parity Insight's newest enhancement at HITEC Minneapolis, from June 18-20 at Booth #1213.
About OTA Insight
OTA Insight empowers hoteliers to make smarter revenue and distribution decisions through its market-leading suite of cloud-based business intelligence solutions including Rate Insight, Parity Insight and Revenue Insight. With live updates, 24/7 support from our customer success team, and a highly-intuitive and customisable dashboard, the OTA Insight platform integrates with other industry tools including hotel property management systems, leading RMS solutions and data benchmarking providers.
OTA Insight's team of international experts are based all over the world, including the UK, US, France, Germany, Belgium, Spain, Italy, Brazil, Mexico, Singapore, Australia and India, and supports more than 40,000 properties in 168 countries. Ranked one of 10 "Ones to Watch" in the Sunday Times Tech Track 100, OTA Insight is widely recognised as a leader in hospitality business intelligence.
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