Being in parity can increase conversion rates by up to 34%. The more your direct price is undercut by OTAs, the lower your conversion rate is likely to be. On metasearch the impact is even more significant. Triptease data gathered from over 10,000 properties shows that click-through and conversion rates increase by around 2.5x when you have the cheapest rate compared to when you’re undercut by OTAs.
Parity is at the heart of everything we do at Triptease. It’s the core data that runs through all of our products. We’re continuously building new features to help hoteliers understand where price undercutting is coming from and what action they can take. That said, no rate monitoring tool provides an instant, quick fix for deeper parity issues.
Our most successful clients use Triptease Parity tools to identify issues and trends that they then take action on outside of the product. This gives them much better control over their rate parity and distribution mix, which increases direct bookings.
The Parity Success Pyramid: Building awareness, taking control and taking action
In this brand new guide we’ll be outlining best practices for monitoring parity issues, but also taking a look at some of the behaviors that high performing hotels do outside of their parity monitoring tool. Working in this way allows you to change the nature of your OTA relationships and ultimately take full control of your online price distribution.
The Parity Success Pyramid
Taking ownership of your parity and rate distribution strategy can be divided into three main areas:
- Part 1: Building awareness
- Part 2: Taking action
- Part 3: Taking control
As you can see from the diagram above, most parity monitoring tools are typically best at helping hoteliers with the ‘building awareness’ phase of understanding where their current problems lie and the real business impact they’re having.
The Hotelier’s Guide to Fixing your Parity will take you way beyond awareness building, with actionable tips and checklists to make sure that you’re monitoring the right data, running impactful analysis and redressing the power balance in your relationships with OTAs.
Click here to get your free copy today.
Introducing a new Parity product for a changing booking landscape
The Triptease Parity tool was one of the first products we built to help hoteliers take control of their rate distribution and drive direct bookings. But in recent years the rate parity battleground has changed significantly and the Triptease product needed to change with it. That’s why we’re excited to launch the brand new Triptease Parity tool.
The fully interactive, redesigned dashboard includes more data sources, historical changes over time and new ways to cross reference your data. Perhaps most importantly, hoteliers can now easily switch between looking at pricing on OTA partner sites and pricing on metasearch.
This is game changing in a world where around three quarters of travellers use metasearch regularly during their pre-booking journey. And with Google travel queries increasing 85% year on year, that number is only going to get bigger.
Download your copy of The Hotelier’s Guide to Fixing your Parity.
