RateGain, the leading hospitality & travel technology Company, released its Hotel Pricing Trends and Hotel Rate Parity report. A single window BI dashboard, which enables revenue professionals on cheapest rate visibility, tracking hotel rate parity along with median rate for three (3) months of three, four and five star hotel category across some of the major cities in Europe.
Data range spans across Feb 2014 to April 2014 starting from the first week of Feb (all rates in US dollars and for two adults on one-night stay).
In Price Trends Report: The report covers hotel price movements in key European cities for the period from February 2014 to April 2014. The general trend in all hotel categories shows that rates are declining or remaining flat. Minimum rates show little variation. Median rates are at their peak during April in Amsterdam, Paris, Rome and Zurich and show a decline for the remainder of the period. Comparing across all the locations, the highest median rate values are seen in Zurich for 3- star, 4- star and 5- star hotels. The range of rates, as indicated by the difference between minimum and median values is widest in the 5-star category. In April, the lowest rate for 5-star in London is $133 while the median is $408 and in Zurich the range is even wider with a minimum of $251 and a median of $609. It is anticipated that rates will begin to show an upward trend in the report for the next three month period.
In Parity Trend Report: The degree of rate parity observed for European hotels between their brand web-sites and the OTAs shows continuing variation by location in the report from February 2014 to April 2014. London and Paris hotels achieve the most consistent parity across hotel categories with between 14% and 55% of hotels measured maintaining parity. 51% of 3-star hotels in London, 47% of 4-star hotels and 38% of 5-star hotels in Dublin are also maintaining parity.42% of 3-star hotels, 32% of 4-star hotels and 23% of 5-star hotels in Dublin are cheaper on brand websites. However, as is often seen in these reports, OTA sites have the majority of the lowest rates for hotels in a number of locations, most notably Amsterdam, Madrid, Prague and Rome. More than 70% of hotels in all categories in these locations show cheaper rates on the OTAs.
NB 1: RateGain specializes in competitive price intelligence and rate shopping solutions for hotels. It currently tracks more than one billion hotel rates every month across countries in US, Europe, Middle East, Asia and Latin America.
NB 2: The above data is indicative in nature and RateGain can’t be held liable for its accuracy or usefulness for any purpose.