The World is evolving at a rapid pace. It seems as if every aspect of our lives is changing, some more drastically than the others. It is obvious, that the hospitality industry is also adjusting to the modern society. Some would say the changes are dramatic. It has undeniably gone through a significant transformation. One of the aspects that changed the most is the booking process. Today we will discuss what are the modifications it underwent and what may be its future.
Rate parity agreements have been a widely debated topic in the online booking industry for some time now. With these rate parity agreements booking websites can prohibit hoteliers from offering lower rates on other websites. Since several European authorities have ruled the best price guarantees of Booking and Expedia as illegal and anti-competitive, these OTAs have softened their policies allowing more competition. Or so they say. With high commissions still on the rise, there is no stopping to the OTAs. Read our infographic to get an update on all the recent changes in the hotel market.