As part of our bidroom stories section, we introduce you to some of the team here at bidroom and give you an insight into their background and how that connects them to the mission here at bidroom.com
Last week our team took part in one of the most important travel-related trade shows in Europe, the ITB Berlin. It is the place to be for information and inspiration in the hospitality industry. Our CEO, together with the Director of Operations, as well as sales managers and representatives for different markets got the perfect chance to talk to the professionals in various fields of the industry and exchange ideas as well as listen to their opinions on the market. Today, we will talk about the possible trends awaiting in the future of the hospitality industry.
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.
Eliminating rate parity is currently one of the biggest challenges inside the hospitality industry. This unfair practice is currently depriving the hoteliers of direct bookings and making them feel powerless in the fight against the monopolists on the market. In today’s article, I will try to explain in detail what is the rate parity, where is it illegal and what might 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.