RateTiger

Boom in the Travel Industry: Attract Guests with Booking.com

All Blogs
Bookingcom Supply deal - RateTiger

The travel industry is hotter than ever! With people starting to explore after a period of restrictions, booking platforms like Booking.com are experiencing a surge in demand. This is a fantastic opportunity for accommodation providers to expand their reach and attract new guests.

Here’s why you should consider listing your property on Booking.com:

  • Booking.com boasts over 6.6 million properties listed and attracts a billion reservations—that’s a huge pool of potential customers!
  • Over 40% of newly listed properties secure their first booking within a week, so you can start seeing results quickly.
  • Link your property with Booking.com through the user-friendly RateTiger dashboard for effortless management: https://join.booking.com/.

Why opt for Booking.com?

  • Access to new revenue streams
  • Cutting-edge security measures
  • User-friendly interface and ongoing assistance

Ready to join the travel boom? Sign up with Booking.com today through RateTiger and unlock a world of new bookings!

For any questions, feel free to reach out to our support team at support@erevmax.com.

Let’s make travel exciting again!

 
Share this on

Maximize Your Hotel’s Visibility and Bookings with Expedia Accelerator

All Blogs
Expedia Accelerator

Nowadays, reaching high-value travelers is crucial for hoteliers. But how do you stand out amongst a sea of options, especially for those hard-to-reach guests who can significantly improve your occupancy rates?

Introducing Accelerator: Your Pay-Per-Stay Visibility Solution

Accelerator is a powerful model of Expedia Group that helps hotels increase their exposure to millions of travelers across our well-established travel brands and extensive B2B network. This network reaches travelers through nearly 60,000 businesses worldwide, giving you unparalleled access to potential guests.

Here’s How Accelerator Benefits Your Hotel:

Pay-per-stay model: With Accelerator, there’s no upfront cost! You only pay your chosen additional compensation when guests book and complete their stay at your property. This means you can increase your hotel’s visibility without any financial risk.

Enhanced visibility: Your business will be seen by more travelers through prominent placement in search results, leading to a significant increase in bookings.

Reach high-value travelers: Tap into our vast network of discerning travelers seeking hotels like yours.

Improved occupancy: Fill those empty rooms and boost your net room nights and gross booking value. Hotels using Accelerator have seen an average increase of ~20%!*

Ready to Take Your Bookings to the Next Level?

Accelerator is a win-win solution for hoteliers. Increase your visibility, attract high-value travelers, and pay only for successful bookings.

For assistance, please get in touch with your account manager at support@erevmax.com.

*Source: Expedia Group, first-party data, 2022

 
Share this on

RateTiger by eRevMax Shaping Tomorrow’s Travel Landscape at ITB Berlin 2024 

All Blogs
ITB Berlin 2024

ITB Berlin 2024, held from 5 – 7 March, opened with a highly positive outlook for the future. The leading travel industry brought global trends, leading experts and the latest best practices to the ITB Berlin Conference 2024 under the subtitle “Pioneer the Transition in Travel & Tourism. Together“. 

ITB Berlin once again brought together industry leaders, innovators, and enthusiasts from around the globe to discuss the latest trends and technologies shaping the future of travel. Like every year, RateTiger by eRevMax exhibited at this world’s largest tourism trade fair, which was very successful.  

Let’s dive into the highlights of ITB Berlin 2024 and explore the impact of our presence at the event. 

“Pioneer the Transition in Travel & Tourism. Together” 

In 2024, ITB Berlin continued its legacy of shaping the future of the travel industry and restated its status as the premier global platform for business, innovation, and networking. The slogan of the ITB Berlin Convention, the industry’s leading think tank, is ‘Pioneer the Transition in Travel & Tourism. Together‘.  

With nearly 100,000 attendees, ITB Berlin 2024 exceeded expectations despite strike circumstances. More than 5,500 exhibitors from 170 countries occupied 27 exhibition halls.  

This year, around 3,200 accredited journalists from 103 countries and over 300 bloggers reported on ITB Berlin.  

RateTiger by eRevMax at ITB Berlin 2024 

Though the ITB Berlin is already over, the impact of Team RateTiger’s presence was unforgettable. It has already been 2 weeks since ITB finished, and the whole office is still discussing ITB Berlin (Internationale Tourismus-Börse Berlin). During this 3-day event, numerous visitors stopped by our stand. We met industry leaders and hoteliers through panel discussions and one-on-one meetings. By sharing insights, best practices, and success strategies, we helped cultivate a spirit of collaboration that will continue to drive the industry forward. 

A memorable moment occurred on Day 2 when we had the privilege of meeting with the Expedia team. It was a truly unforgettable experience for RateTiger by eRevMax, as the Expedia Group proudly awarded us the esteemed 2024 Elite Partner Status. This recognition is not only a testament to our dedication and hard work but also a milestone that we will treasure for years to come.  

We are truly grateful for the overwhelming response from clients, visitors, and friends during the event. Witnessing the buzz surrounding RateTiger products- Channel Manager, Booking Engine, and Shopper was inspiring. It was gratifying to hear how these tools have helped them effortlessly increase their revenue. Knowing that our solutions are making a positive impact and simplifying operations for our clients fills us with pride and motivates us to continue innovating and delivering excellence. 

Overall, the event proved to be a perfect platform for gaining insights into the latest advancements in artificial intelligence (AI) through the ITB Innovation Radar. It provided a valuable opportunity to explore the cutting-edge technologies shaping the future of the hospitality industry. Building on our success, we’re excited to adapt our products and strategies to match industry trends, ensuring continued growth in our business. 

Our Next Stop 

After a successful ITB Berlin 2024, team RateTiger will be glad to see you at the ATM Dubai: Visit us at Travel Technology Hall 4, Booth TT4102, held in Dubai from 6 – 9 to May 2024

See you soon… 

 
Share this on

Maximizing Revenue- Unveiling the Power of Pricing Optimization in Hotel Channel Management

All Blogs
Maximizing Network - RateTiger

In the dynamic realm of hospitality, where each room promises a unique experience, hotels aspire not merely to accommodate but to excel in the pulse of the hospitality industry, where every unoccupied room symbolizes both profit and distinction, a secret ingredient emerges, elevating a hotel’s success from the commonplace to the extraordinary – the enchantment of pricing optimization.

In this blog, we explore the significance of pricing strategies and how hotels can optimize these strategies to maximize revenue.

Understanding Hotel Channel Management:

Hotel channel management is a vital strategy in the hospitality industry, involving the strategic distribution of a hotel’s room inventory across diverse online and offline channels to expand reach and drive revenue.

This distribution strategy encompasses platforms like online travel agencies (OTAs), direct hotel websites, and global distribution systems (GDS).

RateTiger Channel Manager plays a crucial role in this process, offering real-time inventory management, centralized control, and automated rate adjustments. It provides detailed analytics on channel performance, ensuring hotels can allocate resources effectively. RateTiger also monitors rate parity, maintains consistency across channels, and integrates seamlessly with Property Management Systems (PMS) for enhanced operational efficiency. This comprehensive approach empowers hoteliers to optimize revenue, streamline operations, and stay competitive in the dynamic hospitality market.

The Importance of Pricing Optimization:

Pricing optimization is essential for the success of hotels in the competitive hospitality industry. Beyond merely setting room rates, it thoroughly analyses market trends, competitors’ pricing, and guest behaviour.

RateTiger offers a similar product called RateShopper, which plays a crucial role by providing real-time insights into these factors. It enables hotels to adjust strategically, capitalize on demand peaks, and tailor pricing strategies for traveller segments.

The benefits of embracing pricing optimization are undeniable:

  • Increased revenue: The bottom line matters, and pricing optimization can lead to significant revenue growth by maximizing occupancy rates and optimizing room rates.
  • Reduced discounting: Prices will not drop to fill rooms. Pricing optimization helps avoid unnecessary discounting, protecting your brand image and profitability.
  • Competitive edge: In a crowded market, standing out is crucial. Pricing optimization gives you the agility to react quickly to competitor pricing changes and stay ahead of the curve.
  • Improved operational efficiency: With dynamic pricing, you spend less time manually adjusting rates and focusing more on what you do best – creating exceptional guest experiences.

Conclusion:

In today’s travel landscape, where choices abound, pricing optimization in hotel channel management is a potent tool for maximizing revenue. A strategic, data-driven approach enables hotels to navigate market complexities, respond dynamically to changes, and secure a competitive edge. As technology evolves, embracing innovative pricing solutions becomes imperative for hotels aiming to thrive in the ever-changing hospitality landscape.

Ready to harness the power of pricing optimization in your hotel channel management? Connect with our experts at sales@erevmax.com, invest in the right technology, and don’t hesitate to experiment. The right pricing strategy in hospitality can unlock a harmonious chorus of revenue and guest satisfaction.

 
Share this on

Navigating the Dynamic Landscape of RateTiger’s Revenue Management

All Blogs
Navigating the Dynamic Landscape of RateTiger Revenue Management

Welcome to the world of hospitality, where RateTiger, a pioneer in hotel channel management solutions, plays a pivotal role in supporting properties to thrive and generate profits.

RateTiger significantly aids properties in adapting and achieving success. Whether navigating market changes or meeting client requirements, RateTiger ensures properties remain strong and prosperous in a constantly evolving landscape.

The insights provided by RateTiger offer a compelling view into the transformative trends observed between 2022 and 2023. These insights showcase how RateTiger has been instrumental in guiding properties toward success in the dynamic hospitality industry.

Growth in Reservation Commitments

During this time frame, there was a noticeable increase and flexibility in the number of reservations made. It all started on a positive note and maintained consistent growth each month. Each period had its own story, showing how things changed in the market and among customers. The trend shows how RateTiger stood steadfast in this dynamic industry with its efficient hotel solutions to maintain its credibility across the globe.

We noticed some ups and downs that gave us a clear picture of how demand changed and how people reacted. If we check the month of January, there is a 58.63% growth of reservation from 2022, but in the same timeframe, in May, there is only 8.19%. Interestingly, there were significant increases around the middle of the year, especially in August, possibly due to more people travelling or seasonal changes in what customers wanted.

Insights from Property Onboarding Dynamics

At the same time, there were noticeable changes in how properties integrated with our system. This aspect of the story highlighted the adaptation and utilization of RateTiger by properties. In the month of February 2023(762.5%), properties showed higher enthusiasm as they began using our product to efficiently update rates and manage inventory across various online sales channels, facilitating smooth reservations into their PMS.

In the month of August, there was a significant uptick in properties(100%) joining our platform, indicating a purposeful shift. This surge indicated that properties were actively adopting the RateTiger Channel Manager, signifying the industry’s proactive approach to embracing tools for its growth and success.

Insights and Strategic Adaptation

In this tale of growth and adjustment, the value of adaptability and strategic decision-making shines through. Integrating RateTiger emerged as a key factor, guiding properties to thrive amid shifting landscapes.

Properties could proactively modify their marketing and pricing strategies with RateTiger’s BAR-level feature. This flexible feature enabled properties to seize opportunities during peak consumer activity, securing a competitive advantage in the market.

Conclusion

These insights unveil a journey of adaptability and growth within the hospitality industry. RateTiger proved instrumental in empowering properties to navigate evolving market dynamics successfully. By leveraging RateTiger and adeptly responding to changing consumer demands, properties gained a competitive edge, ensuring resilience and success in a dynamic marketplace. Beyond its channel management prowess, RateTiger offers a treasure trove of insights, meticulously gathered and analyzed to illuminate transformative trends shaping the hospitality landscape. By harnessing the power of data, RateTiger equips hotels with the knowledge and foresight to make informed decisions, anticipate market shifts, and stay ahead of the curve.

Are you using the right Hotel Channel Manager to streamline your daily operations and help you boost online revenue?

If not, then drop us a line at sales@erevmax.com

 
Share this on

Expedia Group Mobile Promotion Setup Guide

All Blogs
Mobile promotion - Expedia

In today’s digital age, mobile devices have become integral to our lives, especially for travelers seeking convenience and easy booking. Expedia Group, a prominent player in the travel industry, has witnessed a significant uptick in mobile bookings, with an incredible 54% of their travelers utilizing mobile devices*. To tap into this burgeoning market, it’s crucial to set up mobile promotions effectively on Expedia Group. Let’s explore the effective option to enhance your presence on Expedia Group’s mobile platform. 

Promo API Integration  

If you’re looking for a seamless approach to setting up and managing mobile promotions on Expedia Group, integrating with the Promo API through RateTiger is the way to go. Follow these simple steps to get started: 

  1. Log in to RateTiger account and navigate to the promotion management section. Choose the promotion type you wish to create, manage, or deactivate. 
  1. Specify the target audience for your promotion by selecting mobile device users. 
  1. Set the relevant parameters for the promotion, including booking dates, discounts, or any other restrictions. Once all details are defined, submit your promotion, and it will be activated for mobile users on Expedia Group. 

Get Started Today! 

Don’t miss out on the opportunity to capture the attention of Expedia Group’s vast mobile user base.

Log in to RateTiger now and embark on a journey to create enticing mobile-only promotions for Expedia Group travelers. By employing these options, you can enhance your visibility and drive bookings among the growing community of mobile-centric travelers. 

*Based on Expedia Group internal data, 2023 

 
Share this on

Long-Term Booking Strategy of Expedia GroupTM : A Game-Changer for Your Property

All Blogs
expedia ratetiger LDI blog banner image

In the ever-evolving world of the hospitality industry, staying competitive and relevant is paramount. The key to thriving in this dynamic environment is understanding the changing expectations of travelers and adapting your distribution strategy accordingly. One strategy that can have a significant impact on your business is adding rates and availability on Expedia Group websites a year or more in advance. A recent survey conducted by Expedia Group revealed that 25% of their travelers are comfortable booking their travels more than a year in advance. This trend reflects the changing preferences and priorities of modern travelers. It’s crucial to tailor your distribution strategy to meet these changing demands.

Case Study:

Janet Chen, General Manager at Beimen WOW Poshtel, consulted with her Expedia Group market manager to find new strategies to fill beds in a competitive market. Her market manager recommended a long-term booking strategy: add rates and availability up to 12 months in advance and offer an ‘early-bird’ discount as an extra booking incentive for guests.

After Janet took these steps, she saw a 150% increase in net room nights and a 392% increase in revenue. Read her story here.

Ready to Get Started?

It’s easy to extend your inventory and rates in RateTiger. Don’t miss out on any booking opportunities. Get started today!

For assistance, please contact your account manager at support@erevmax.com.

*Source: Expedia Group Traveller Value Index, Spring 2022 Outlook

 
Share this on

Strategic Management of Occupancy: Leveraging RateTiger for Overbookings and Cancellations

All Blogs
Strategic Management Overbookings and Cancellations

The hospitality industry is a complex ecosystem where managing occupancy rates is constantly challenging. Overbookings and cancellations are two significant hurdles that hotels face in their quest to maintain optimal occupancy levels. RateTiger offers robust solutions to address these challenges, providing a strategic approach to maximize room bookings while minimizing potential revenue loss.

Understanding Overbookings and Cancellations

Overbookings occur when a hotel accepts more reservations than the actual number of available rooms. This strategy is often used to offset the anticipated no-shows or last-minute cancellations. However, excessive overbooking can lead to guest dissatisfaction and operational complications.

Cancellations represent a different challenge. They impact revenue forecasts and directly affect occupancy rates. Effective management of cancellations is crucial to prevent revenue loss and ensure a balanced occupancy level.

Leveraging RateTiger for Strategic Solutions

Real-time Data Insights: RateTiger Channel Manager provides invaluable real-time data on market trends, competitor pricing, and demand forecasts. This data empowers hoteliers to make informed decisions, adjusting rates dynamically to optimize occupancy.

Competitor Analysis and Rate Shopping: By analyzing competitor rates and understanding market demand, RateTiger Shopper assists hoteliers in setting competitive prices, preventing overbookings, and attracting more bookings.

Overbooking Prevention Strategies: RateTiger Booking Engine allows hoteliers to set precise controls to prevent excessive overbookings.

Dynamic Pricing Strategies: Utilizing RateTiger Channel Manager’s dynamic pricing capabilities allows hoteliers to adjust rates based on demand fluctuations, maximizing revenue and occupancy.

Best Practices for Strategic Utilization

  • Data-Driven Decisions: Rely on real-time data insights RateTiger Channel Manager provides for informed decision-making.
  • Flexible Pricing Strategies: Implement adaptive pricing strategies to respond to market changes and guest behaviour.
  • Overbooking Controls: Utilize RateTiger Channel Manager to set limits that balance maximizing occupancy and minimizing risks.

By leveraging RateTiger Channel Manager, Booking Engine & Rate Shopper, hotels can navigate challenges and maintain a balanced approach to maximize occupancy while minimizing revenue loss.

 
Share this on

Tips and Tricks for Optimizing Your Hotel’s Channel Manager Setup

All Blogs
Tips and Tricks of Hotel Channel Manager Setup

Hotel Channel Manager is a software tool designed to enhance a hotel’s online presence, optimize operational efficiency, and boost revenue and pricing strategies by managing listings on various online travel agencies (OTAs) and other distribution platforms. It can save hoteliers significant time and effort and help them improve their visibility and bookings.

This blog will explore valuable tips and tricks to help you make the most of your hotel’s Channel Manager. Whether you’re new to channel management or looking to fine-tune your existing setup, these insights will prove valuable. However, to get the most out of your Channel Manager, it is essential to set it up correctly and optimize it regularly. Here are some tips and tricks:

1. Choose the Right Channel Manager

Selecting the right Channel Manager is the foundation of your success. Consider factors such as the ease of integration with your property management system (PMS), compatibility with the online travel agencies (OTAs) you intend to work with, and the level of support and training the provider offers. A robust Channel Manager will simplify the management of multiple channels and reduce the risk of overbookings. Recommending the RateTiger Channel Manager solution for several compelling reasons. It offers a range of features to help hotels efficiently manage their online presence and maximize revenue. With RateTiger Channel Manager, you can ensure real-time inventory synchronization and rates across all channels, reducing the risk of overbookings and rate disparities. It offers a user-friendly and intuitive interface, simplifying the process for your staff to handle and oversee your distribution strategy efficiently.

2. Set Competitive Rates

To maintain competitiveness, your rates on your Channel Manager need to align with those of your competitors. Various tools like rate parity tools and OTA Metasearch Engines can help you research your competitors’ rates. Additionally, RateTiger offers Rate Shopper tools, which are software solutions designed to assist you in monitoring and analyzing your competitors’ rates in real-time. These tools provide valuable insights into how your rates compare to those of other hotels in your area, enabling you to adjust your pricing strategy accordingly. Utilizing a Rate Shopper tool allows you to stay competitive in the dynamic hospitality market, attract more guests, and optimize your revenue.

3. Optimize Content and Visuals

Attractive visuals and compelling content are essential for drawing in potential guests. Ensure that your listings on OTAs are rich in high-quality images, accurate descriptions, and up-to-date information about your hotel’s amenities, services, and local attractions. Consistency across platforms is critical.

4. Use Rate Plans and Restrictions

Rate plans and restrictions are essential tools that can help you maximize your revenue while avoiding overbooking. For instance, you can create different rate plans for various guest segments, such as business travelers, leisure travelers, and groups. Furthermore, you can implement restrictions to manage room availability on particular dates or enforce minimum night stays for guests.

RateTiger Shopper is a valuable tool for simplifying and monitoring your competitors’ pricing strategies. This tool lets you make real-time rate adjustments to ensure your hotel remains competitive. By leveraging RateTiger Shopper, you can make informed pricing decisions crucial for maximizing your hotel’s revenue.

5. Monitor Your Channel Manager’s Performance

After configuring your Channel Manager, it is crucial to conduct regular performance monitoring. This practice will enable you to discern which channels deliver satisfactory results and which require enhancements. You can use your Channel Manager’s reporting tools to track your bookings, revenue, and other vital metrics. With RateTiger’s Channel Manager, you can efficiently manage all channels from one platform, benefiting from its 2-way XML connectivity with over 400+ OTAs.

6. Invest in Analytics and Reporting

Leverage your Channel Manager’s reporting and analytics features to gain insights into your hotel’s performance. Analyze booking patterns, revenue trends, and the effectiveness of different marketing channels. Use these insights to make data-driven decisions and adjust your strategy as needed.

RateTiger Insider Tips:

  • Use a property management system (PMS). A PMS software solution helps hotels manage their operations, including inventory and rates. If you have a PMS, you can integrate it with your Channel Manager to automate updating your list and rates across all channels.
  • Use a pricing tool. A pricing tool can help you set competitive rates to maximize your revenue. Pricing tools consider factors such as competitors’ rates, historical demand, and upcoming events.
  • Run promotions. Promotions can attract more bookings and increase your revenue. You can use your Channel Manager to create and manage promotions.
  • Track your results. It is essential to track your results regularly to see what is working and what is not. You can use your Channel Manager’s reporting tools to track your bookings, revenue, and other vital metrics.

Conclusion

Ensuring the optimal configuration of your hotel’s Channel Manager is a continuous endeavor that demands detailed attention and a willingness to adjust to evolving market dynamics. By choosing the right Channel Manager, maintaining accurate inventory, and staying informed about industry trends, you can maximize your hotel’s online presence, increase bookings, and boost revenue. By employing these helpful strategies and techniques, you can fine-tune your hotel’s Channel Manager setup and fully leverage the capabilities of this potent tool.

 
Share this on

Boost International Booking with Country Rates on Booking.com

All Blogs
Country Rates on B.com

As the trend of global travel gains momentum, there’s a remarkable opportunity to capitalize on the increasing number of international guests. Whether you are interested in entering emerging markets, enticing visitors from specific countries, or growing your revenue by offering targeted discounts, the solution, known as Country Rates, is here to cater to your needs.

Why Country Rates?

The Country Rate stands out as one of the most impactful pricing solutions for your property. This specialized tool enables your property to extend specific pricing to guests from designated countries and regions.

Notably, nearly 70% of the initial summer searches on the Booking.com platform are focused on international accommodations.

Properties can capitalize on this heightened demand and ensure revenue by providing targeted discounts to international travelers, who tend to book earlier and exhibit fewer cancellations.

How do Country Rates work?

Country Rate is a feature used by hotels to establish specific room rates tailored to different countries. It serves as a means to provide special pricing or discounted rates to guests from targeted markets.

The discounted rate is exclusively visible to users accessing the Booking.com platform from the countries or regions properties have chosen to focus on. While a minimum discount of 5% is mandatory, properties possess the option to offer a more substantial discount if they wish.

This discount is applicable to all rooms and rate plans within a property, and it synergizes with discounts associated with the Genius program, as well as any other promotions they have configured (except for the Mobile Rates or Limited Time Deal).

Properties retain the capability to allocate up to 30 blackout days per calendar year, during which the discount will not be applicable.

Country Rate’s Global Validity

It’s important to be aware that country rates might not be accessible in specific countries due to prevailing legal or commercial constraints. Kindly take into consideration this limitation when considering the implementation of country rates for your property’s pricing strategy.

What are the Advantages of Offering Country Rates?

  • Secure revenue by targeting international travelers
  • International customers tend to book early and cancel less.
  • Sell your rooms in advance by offering special prices during the festive season.
  • Boost your visibility on Booking.com.

Offering Country Rates on Booking.com provides an array of benefits, including assured revenue, improved booking patterns, and amplified visibility, all of which contribute to a more strategic and successful approach to your property management.

Navigating to the Promotions tab, you can seamlessly establish Country Rates on Booking.com from your RateTiger Dashboard.

Read here to learn about Country Rates and how to set them to your existing room rate plan.

 
Share this on

RateTiger